I like the low volatility funds that have done better than the indexes and are a lot less variable. They take for ex the least volatile say 100 of teh S&P 500 by beta or SD or even covariance ( ishares) where all teh stocks are chosen to offset each other's movements to smooth returns.

25% Low vol Cdn, 25% low vol Us ( hedged) , 25% low vol intl ( hedged) 25-15 % corp bond cdn 

0-10% low vol emerg mkts ( hedged) as an option.

Read the 4 Pillars of Investing by W Bernstein who also just recommends simple indexes mainly. no Gold  No REITs, No sectors etc.