For your consideration > a Mosaic model using Fidelity no commission ETFs. Perhaps surprisingly, the actively managed model does quite a bit better than the standard Mosaic. If we deconstruct the model dynamics this can be traced to the fact that Fidelity offers no commission free ETF to match QQQ, which has proven to be the real workhorse in most of the standard ETF Mosaic models. The equity curve of the AM model is smooooth with very low drawdown and a 9%+ APR looks attractive relative to SPY. Most of the performance differential can be traced to the 08-09 chasm that SPY suffered, but the AM model does buffer risk exposure and clearly bears further investigation since a no fee an actively managed model avoids what might otherwise accrue as substantive daily trading costs. Just a heads up: the revised ETFMosaic website is just about to go live offering some of products and services that I use on a daily basis.