Given the new norm of increased volatility and a bleak market environment, advisors are challenged to rethink the foundational elements of investor portfolios, which means seeking out strategies that bolster the core going forward. In investing, the “core” has traditionally consisted of developed market equities and investment-grade debt. Increasingly over the last decade, investors — both retail and institutional — have introduced a growing number of diversifying elements to that core, including commodities, floating rate and high-yield debt, emerging market assets and hedge fund strategies, to name a few. Those asset groups have, in portfolio construction lingo, been termed “satellite”...