Should I ditch minium volatility?

Hi everyone,

I’m reviewing my portfolio and would really appreciate some input.

Right now I’m allocated like this:

20% Small Cap Value

20% Momentum

20% Quality

20% Minimum Volatility (that I was thinking about removing)

20% Classic market-cap weighted (CAPM-style index)

I’m considering whether to remove my Minimum Volatility allocation, especially given that I already have exposure to multiple factors.

My main question is about the very long term (30+ years).

From what I understand:

Factors like Quality already tilt toward more stable companies

A diversified multi-factor portfolio should already reduce volatility to some extent

Minimum Volatility seems more useful for drawdown control than for maximizing long-term returns

So I’m wondering:

Is Minimum Volatility basically redundant in a setup like this?

Does it still add meaningful diversification, or is there too much overlap (especially with Quality)?

For a 30+ year horizon, does it actually make sense to keep it, or is it just sacrificing expected returns for smoother short-term performance?

I’m not too concerned about short term volatility and I’m comfortable with drawdowns if the long-term expected return is higher.

Curious to hear your thoughts, especially if you’ve built or analyzed similar multi-factor portfolios.

Thanks!