No. of Recommendations: 4
I dumped my managed account when I got tired of writing them checks totaling $10,000 a year. As you say, it is generally going to underperform.
As far as your choices VOO, VEA, and BND are fine if that's what you want to do.
An alternate suggestion:
How far out is your investing horizon? If it is 10 years or more, BND or any other fixed income is to be avoided, it's just a drag on your portfolio.
In the modern world, there is little reason to invest specifically in a Non-US fund. The large US companies are essentially world-wide. They do a lot of business out of the US, so you automatically get non-US exposure.
See this backtest comparison:
https://testfol.io/?s=4Z4UFib5Cv8The portfolio with BND (AGG) has the lowest total return, but with slightly lower volatility. But if you are investing for 10+ years you don't much care about the volatility. The lower volatility costs you a lot of money.
The S&P500 only portfolio (VFIAX) has the best total return and the best Sortino Ratio. In the Rolling Metrics tab, it also consistently has the best 10-year rolling returns.
It also has the best UPI -- "UPI is a measure of return relative to drawdowns (i.e. losses). It captures both the length and severity of all drawdowns."
Interestingly, it also has the best Ulcer Index of the stock-only portfolios.
40% higher ending value after 22 years than the portfolio with AGG.
