VT, DFAW, and AVGE all promise global diversification—but they take different roads to get there. Don and Tom compare cost, holdings, factor tilts, and the extra risk behind higher expected returns, then explain why the “best” one-fund solution depends on how much risk you actually need. Then a listener asks why advisors build portfolios with many funds when one might do. The answer runs through tax-loss harvesting, rebalancing, personalization, and the fine line between thoughtful design an...