Hi all! I'm strongly considering building a portfolio of high yield monthly dividend ETFs and wanted to get your opinion on my strategy:

1. My portfolio would consist of 20 or so ETFs: MRNY, FBY, JEPY, PYPY, SQY, NFLY, QQQY, IWMY, KLIP, TSLY, OARK, NVDY, BITO, APLY, USOI, AMDY, CONY, ULTY, MSTY, ULTY, and YMAX. It's mostly Yieldmax products with a few from defiance and others for company diversification. I don't really want to have anything that doesn't produce a dividend in this portfolio.

2. ALL dividends will be reinvested at the end of the month, both for growth and fighting capital depreciation.

3. There will be a monthly cash investment of around $1000.

4. Ideally, I'd take the cash and dividends and reinvest an equal amount across the portfolio to keep everything balanced. Keeping the value balanced, I believe, would protect against heavy individual losses.

But what do you think? Is there something I'm not considering or need to be made aware of before working with this strategy?