One of the best ways to grow your wealth is arguably to take a long-term approach to investing in high-quality ASX shares. This allows you to benefit from compounding, which is what happens when you earn returns on top of returns.
But if you're not a fan of stock picking, don't worry. That's because exchange-traded funds (ETFs) could be the answer to your investment prayers. They allow you to buy a large number of shares with a click of a button.
But which ASX ETFs could be top buy and hold options from 2024? Let's take a look at three:
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BetaShares NASDAQ 100 ETF (ASX: NDQ)
The first option to consider is the BetaShares NASDAQ 100 ETF. This hugely popular option gives you easy access to many of the biggest companies in the world. Among its 100 holdings are tech giant Apple and electric vehicle producer Tesla. Given the positive outlook for the companies included in the fund, the ETF appears well-positioned to continue its market-beating ways long into the future.
Betashares Global Quality Leaders ETF (ASX: QLTY)
Another ASX ETF that could be a good buy and hold option is the Betashares Global Quality Leaders ETF, which was recently recommended by Betashares' chief economist, David Bassanese. It gives investors exposure to a portfolio of approximately 150 global companies that rank highly on four key quality metrics. Companies that make the cut include giants such as Alphabet, Microsoft, and Visa.
VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)
The king of buy and hold investing is arguably Warren Buffett. When the Oracle of Omaha invests in a company, he could hold onto it for decades if it has a wide moat (sustainable competitive advantage). And given his success since the 1960s, it's hard to argue against this approach. The good news is that you can replicate Buffett's investment style with a simple click of the button with the VanEck Vectors Morningstar Wide Moat ETF. This popular ASX ETF has been designed to provide investors with access to a portfolio of approximately 40 high-quality shares that have sustainable competitive advantages and fair valuations.
