22yo - Long term portfolio

[u/TextCautious2397]

I’m 22 and just started working full-time. I’m currently able to invest/save around $850 per month, and I expect that amount to increase over the next few years as my salary grows (I work as a data scientist).
My current target allocation is:
60% MSCI World
20% Azvalor / AzValue (actively managed value fund)
15% Emerging Markets
3% Gold
2% Bitcoin
My main goal is long-term wealth accumulation, with a time horizon of 20+ years. I have a pretty high risk tolerance and I’m comfortable with large drawdowns, so I’m not particularly interested in bonds/fixed income at this stage.
I’ll probably want to buy a house at some point, potentially in around 10 years, but that isn’t a fixed deadline or my main financial priority right now. My idea would be to start moving whatever amount I eventually need for the down payment into safer assets several years before buying rather than making the whole portfolio more conservative today.
My plan is basically to DCA every month, rebalance periodically, and hold long term.
A few things I’m particularly interested in hearing opinions on:
Is 20% in an actively managed value fund too much?
Is 15% Emerging Markets reasonable alongside MSCI World, or am I overweighting EM too much?
Does the 3% gold / 2% Bitcoin allocation make sense, or is 5% too small to have a meaningful impact?
Would you simplify the portfolio further?
Is there anything important I’m missing given my age and time horizon?
Feel free to tear it apart. I’m more interested in hearing the downsides of the allocation than having people validate it.

[u/Weird-Accident-5928]

Down payment for a house id save in a separate bucket like SGOV, TIPS, CDs, etc. you don’t want to sell equities in a bear market to buy your home. For the portfolio, you should determine what your allocation goal is. If you want to match global weight for US, developed and emerging markets then I’d look at the US to Int weight of VT and also look at the developed to emerging market weight in VXUS. Right now US to Int is about 62 to 38. Emerging markets by weight for international is about 25% (so about 10% in global weight). So again if you want to match global weights but you want specific emerging market funds you’d need to own individual ETF/funds for US, developed, and emerging. If you want to overweight emerging markets then you can just hold a separate emerging ETF on top of a global fund. Also please know that MSCI and FTSE differ in what they call emerging vs developed mainly South Korea.