Originally Posted by CJOttawa
Having a lot of different funds does not necessarily mean the holdings are diversified. There may be significant overlap between them.
I haven't dug deep into their holdings but I notice several of them have Expense Ratios (ERs) over 1%. Many Vanguard funds have ERs in the 0.20% range so you could save yourself a bunch of the embedded fees that way.
The previously linked 3-fund "Lazy Portfolio" holds only VBMFX, VTSMX, VGTSX but is massively diverse.
ERs are 0.19%, 0.15%, and 0.22% respectively. Their corresponding ETFs have even lower ERs.
There is overlap in them. I printed off what companies are in each one, I would need to dig it out at take a second look.