A. No, smart beta funds should be at most a small portion of your core portfolio, here is why -
Like we have explained before, smart beta funds are just indexlike funds built in unconventional ways. For example, SPDR S&P Dividend ETF (SDY) just tracks a smaller portion of the S&P 500 stocks that have raised dividends for at least 20 years. So in reality, this fund does not use passive index strategy, instead, it place active bets on a small portion of the market.
In other words, smart beta funds are really actively managed funds, the advantage is its expense ratio tends to be lower than actively managed mutual funds. If you are in for long term investment, your core should be passive index funds, with a small portion devoted to actively managed funds, such as smart beta funds, if you want to place some speculative bets.