One of the best ways to grow your wealth is to make long-term investments, as this allows you to benefit from the magical power of compounding.
One easy way to invest your hard-earned money in this way is with exchange traded funds (ETFs). That's because ETFs provide investors with access to a large number of shares through a single investment.
This can help diversify your portfolio and lower the risk of you making a large loss on a particular investment.
But which ETFs should you look at for the long term?
Listed below are three high quality ETFs that could be worth considering. Here's what you need to know about them:
BetaShares Global Cybersecurity ETF (ASX: HACK)
The first ETF that could be a top buy and hold option is the BetaShares Global Cybersecurity ETF. This fund provides investors with the opportunity to invest in the cybersecurity sector. This means you'll be buying companies such as Accenture, Cisco, Cloudflare, Crowdstrike, and Palo Alto Networks. Due to the growing threat of cyberattacks globally, these companies appear well-placed to benefit from increasing demand for their services.
BetaShares NASDAQ 100 ETF (ASX: NDQ)
Another ETF for investors to buy and hold could be the BetaShares NASDAQ 100 ETF. This ETF allows investors to buy many of the highest quality companies in the world all in one place. That's because the BetaShares NASDAQ 100 ETF is home to the 100 largest non-financial shares on the famous NASDAQ exchange. This includes the likes of Amazon, Apple, Google parent Alphabet, Meta, Microsoft, Netflix, and Tesla.
VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)
Finally, if you're aspiring to be like Warren Buffett when investing, then you may want to look at the VanEck Vectors Morningstar Wide Moat ETF. That's because this Warren Buffett-inspired ETF gives investors access to a group of companies that have sustainable competitive advantages or moats (hence its name). Moats are something the Oracle of Omaha looks for when choosing investments. And given his long-term track record, this investment strategy clearly works. This could make this ETF a great buy and hold candidate.
