To answer this question you are to develop an investment strategy specifically for yourself, and as realistic as possible, and reflecting your view of macro-economics and its impact on financial markets.

First analyse your own situation and risk profile (character, life-style, time horizon, objectives, etc) and your macro-economic view, then reflect them in a portfolio of mutual funds or ETFs using examples and providers chosen from David Costas book (but you can also use any mutual fund or ETF available in the Morningstar database).

Before selecting the investment vehicles you will need to determine your asset allocation and justify it. Normally five to seven mutual funds and ETFs funds will suffice for diversification. Bring an element of timing into your investment plan.

You are not obliged to one type over the other; make you choices and say why. That will require you to describe the funds. You should also wish to reflect your own view on likely global economic developments