Replicating Portfolios with ETFs

From an article over on IndexUniverse titled "Liquid Alternatives: More Than Hedge Funds" by Rob Arnott and John West.

Below is how investors could replicate their portfolios with ETFs.

The Diversified Asset Portfolio is an equally weighted portfolio (10% each) of:

STOCKS 20%
International stocks - (VEU), (EFA)
U.S. stocks - (VTI), (SPY)

BONDS 60%
Emerging market bonds - (PCY), (EMB)
TIPS - (TIP), (IPE)
High-yield bonds - (HYG), (LQD)
Long-term U.S. government bonds -(TLT), (BLV)
Unhedged non-U.S. bonds - (BWX)
U.S. investment-grade bonds - 9AGG), (BND)

REAL ASSETS 20%
Commodities - (DJP), (DBC)
REITs - (VNQ), (IYR)