In my experience working on a DIY ETF strategy similar to the one described, diversification across 12 to 15 stocks is key to balancing risk and return. By splitting allocations among different layers—income anchors, compounders, and growth stocks—I found that the portfolio maintains steady income while capturing growth potential. The concept of tilting weights towards growth stocks, while trimming income drag, helps improve the total return profile, especially during bull markets. Specifically, reallocating from highly concentrated holdings to a wider but focused set provides room to absorb market volatility without sacrificing upside. For example, including Canadian banks and utility stocks as the 'income anchors' provides a reliable dividend foundation. Those typically yield around 7-10%, supporting a solid income base. Meanwhile, companies like Nvidia (NVDA), with their exposure to AI and advanced technologies, add an alpha/growth component essential for long-term capital appreciation. I also appreciated the move to reduce exposure to stocks that contribute drag or excessive beta, such as moving some weight away from T (AT&T), replacing it with more stable utilities like FTS. This step lowers the portfolio's sensitivity to interest rate changes and unexpected shocks. Another important feature is the covered-call income kicker mentioned, which can provide incremental income without sacrificing much upside potential. Investors aiming for both dividend income and growth can benefit from such hybrid strategies. From a practical perspective, setting up this ETF requires careful stock selection and regular rebalancing to maintain the intended allocation ranges between income anchors, compounders, and growth stocks. Using tools for tracking dividend yields, payout stability, and growth prospects helps manage the portfolio effectively. Overall, this DIY ETF approach aligns well with both conservative and growth-oriented investors who want to outperform the S&P 500 by combining diversification, income, and growth disciplines in a single, manageable portfolio.