On impermanent loss and diversification

Hey everyone, still wrapping my head around some of the DeFi mechanics, specifically how others are thinking about impermanent loss when providing liquidity. I get the math behind it, but practically speaking, is there a point where the trading fees collected outweigh the potential IL on, say, an ETH/USDC pair during a significant move? And then, how do you all balance diversification across different pools/chains to manage this risk, or is it more about selecting pairs you're willing to just hold through volatility regardless? Feel like I'm missing a piece of the puzzle on how the more experienced folks approach this trade-off.