Well it just matches the technology index. Technology stocks have been doing very well for the past few years so the ETF is also doing well. As for whether or not it's a hype bubble, I lean toward it not being hype, though valuations might be high.

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but I’d like to maximize nonetheless and be a little more risk-oriented. Am thinking of something like 33% VOO, 33% VUG, 33% VGT. You're actively excluding the actual best historical and expected future long term returns part of the market: small cap value. Factor investing starting points: • https://www.investopedia.com/terms/f/factor-investing.asp • https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/fidelity/fidelity-overview-of-factor-investing.pdf (PDF) Factor investing tends to favor value over growth for the long run. And small caps over large. Single sector concentration may be risky, but that is an uncompensated risk: one that doesn't bring higher expected long term returns. Uncompensated risk should be avoided whenever possible. Compensated vs uncompensated risk: https://www.whitecoatinvestor.com/uncompensated-risk/ https://www.pwlcapital.com/is-investing-risky-yes-and-no/ Uncompensated risk is very different; it is the risk specific to an individual company, sector, or country. Also note that your proposed single country focus is also an uncompensated risk. You're mistaking performance chasing for (compensated) risk. Edit: Consider VT (2 letters) or VTI + VXUS (or equivalents) as the vast majority of your portfolio (like 90%+ of the stock side). Then tilt from there, using what will hopefully be a better understanding of factor investing and compensated and uncompensated risks. Edit: Typo More on reddit.com

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Why not a full three-fund portfolio of total US + total International + bond? There's plenty of Tech in the total US market fund, and you don't need to tilt more towards tech or any particular sector of the market because sectors outperform in unpredictable ways -- just buy the whole market. More on reddit.com