These days, I'm all about simplicity. Between juggling the kids, work and those obligatory social events (another birthday party?!), I'm generally too tired to deal with complications. That's exactly why creating a portfolio consisting solely of exchange-traded funds has a lot of appeal. With just a few of these funds, you can have total market coverage with very low expenses, very few tax issues and very little complications. So are exchange-traded funds the simpler way to go to create a well-rounded portfolio? It depends.