Leaning in on index tracking worked well for many investors for much of the past decade. But in today’s volatile and concentrated markets, that strategy may not be enough.

“Why don’t you just buy the index?” might be one of the most-asked questions in investing. It’s an approach that’s simultaneously simple, low-cost, and seemingly diversified.

What’s less talked about is the opportunity cost of relying on this strategy alone to build long-term wealth, and its vulnerability in the volatile markets we’re living through.

The answer isn’t to abandon passive investing altogether — but to seek true diversification by combining passive ETFs with “smart” managed portfolios….