All-in-One ETFs: The Lazy (and Smart) Way to Invest

The Goal of ETF Investing

At its core, ETF investing comes down to two things: diversification and low fees. Spread your money across as many companies as reasonably possible, and keep as much of your return as possible by minimising what you pay to get there.

The problem is, achieving proper diversification usually means holding more than one ETF. An Australian shares ETF covers Australia. An international shares ETF covers everywhere else. Maybe you want an emerging markets ETF on top of that, or a bond ETF for some ballast. Before long, you’re managing three, four, or five different holdings, each needing to be bought, topped up, and rebalanced over time.

This is exactly the problem all-in-one ETFs solve.

What is an All-in-One ETF?

An all-in-one ETF (sometimes called a diversified ETF) is a single fund that already holds a mix of asset classes and regions inside it. Instead of you buying an Australian shares ETF, an international shares ETF, and maybe a bonds ETF separately, one all-in-one ETF blends all of that together in a single ticker, and rebalances it for you automatically over time.

Two of the most well known examples on the ASX are:

  • DHHF (BetaShares Diversified All Growth ETF): 100% growth assets (shares only, no bonds), holding a mix of Australian and international companies across developed and emerging markets, all in one trade.
  • VDHG (Vanguard Diversified High Growth Index ETF): roughly 90% growth assets and 10% defensive assets (bonds), giving a small cushion during market downturns.

Both are designed to give you broad global diversification, thousands of underlying companies, in a single purchase.

The ‘Lazy’ Bit (That’s Actually Smart)

There’s a bit of a stigma around calling something ‘lazy’ in personal finance, like it’s a lesser approach. But when it comes to investing, simple and low effort is often the better way. 

Every extra ETF you hold is another thing to think about: another rebalancing decision, another set of brokerage fees, another opportunity for you to second guess your allocation and start tinkering. All-in-one ETFs remove almost all of that. You pick one fund that matches your goals, and you invest into it consistently. That’s it.

Pros of All-in-One ETFs

  • Ultimate simplicity: one ticker, one trade, done
  • Automatic rebalancing: the fund manager keeps the underlying allocation on target for you
  • Reduced behavioural risk: less temptation to tinker, chase trends, or accidentally end up overweight in one area
  • Easy to start: no need to work out your own split across multiple funds before you begin
  • Genuine diversification: exposure to thousands of companies across many countries in one purchase

Cons of All-in-One ETFs

  • Slightly higher fees: DHHF sits at 0.19% and VDHG at 0.27%, both a bit more than you’d pay building the same exposure yourself with individual ETFs
  • Less control: you can’t adjust your Australian vs international split, or tilt toward a particular region or sector, without just buying more of something else on top
  • One size fits all: the fund’s fixed allocation might not match your personal risk tolerance exactly, particularly as you get closer to needing the money

Who Are All-in-One ETFs Best For?

They’re a genuinely excellent starting point for beginners who don’t want to think too hard about which combination of ETFs to hold, and for busy people who’d rather set up an automatic investment and get on with their life. As your portfolio grows and you get more comfortable with investing, you can always transition to building your own multi-ETF portfolio down the track, but there’s no rush to do that. Plenty of experienced investors stick with an all-in-one ETF for the long haul simply because it works.

Summary

All-in-one ETFs trade a small amount of fine tuned control for a large amount of simplicity. For most people starting out, that’s a very good trade to make. The best portfolio is the one you’ll actually stick with, and it’s hard to beat “buy one ETF, do it regularly” for that.