Jim's 10 ETFs with $ 500K

As a followup to Jim Cramer's Owning Ten Stocks is Just Right, I would go with 10 ETFs. (Click image above for larger). The above is:

• 20% bonds with BND and AGG
• Has the stock indexes of DIA, SPY, and the NASDAQ. (Note ... I chose ONEQ over QQQ because the the yield!)
• Is 20% preferred stocks with PGX and PFF.
• Has MLP exposure with the popular AMLP
• A passive investor could choose these and just let 'em ride 
• Altogether has a dividend yield of 3.5%