Finalizing my RBC mutual fund allocation - keep NAVF-heavy, adjust, or add dividend funds? Looking for weight recommendations.

Hi everyone,

I’m finalizing my long-term investment allocation within RBC mutual funds and would appreciate your input, especially from anyone familiar with RBC GAM funds.

Current allocation:

90% RBC North American Value Fund (NAVF)
https://www.rbcgam.com/en/ca/products/mutual-funds/RBF554/detail

10% RBC Health & Sciences Fund
https://www.rbcgam.com/en/ca/products/mutual-funds/RBF274/detail

NAVF has strong long-term performance, and the Health & Science fund adds a growth/sector tilt I like. But I’m debating whether my current setup is too concentrated in NAVF.

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What I’m considering:

1. Keeping it simple (90/10 as it is)

2. Adjusting weights (e.g., 85/15 or 80/20)

3. Adding a dividend-focused fund for more stability/defensiveness, such as:

RBC Canadian Dividend Fund:
https://www.rbcgam.com/en/ca/products/mutual-funds/RBF266/detail

RBC U.S. Dividend Fund:
https://www.rbcgam.com/en/ca/products/mutual-funds/RBF255/detail

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My questions for the community:

Is 90% NAVF too heavy, or is that still reasonable for a long-term North American equity allocation?

Would adding dividend funds (Canadian Dividend or U.S. Dividend) actually improve diversification, or would it mostly duplicate NAVF’s sector exposure?

If you do recommend adding a dividend fund, what weights would you suggest?
For example, something like:

70% NAVF / 20% Dividend / 10% Health & Science

or 80% NAVF / 10% Dividend / 10% Health & Science

or something else entirely?

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My goal:

A balanced North American portfolio with good long-term growth, some defensive stability, and not too many overlapping funds.

Any feedback on diversification, overlap, or recommended weightings would be greatly appreciated. Thanks!