One of the best ways to grow your wealth is to make long term investments. That's because the longer you are invested, the more you can benefit from the power of compounding.
The good news is that if you're not feeling too confident with stock picking, you could turn to exchange-traded funds (ETFs) instead. They allow you to buy groups of quality shares in one go, making life easy for buy and hold investors.
But which ASX ETFs could be great long term options? Here are three to consider:
BetaShares Global Cybersecurity ETF (ASX: HACK)
The first ASX ETF that could be a great buy and hold option is the BetaShares Global Cybersecurity ETF.
It provides investors with access to a global cybersecurity sector that is predicted to grow materially over the next decade. For example, Betashares notes that the sector is estimated to be worth $2 trillion but only has 10% market penetration at present.
This is being underpinned by the rising threat of cybercrime and more infrastructure moving to the cloud, which bodes well for the fund's holdings. This includes leaders in the industry such as Accenture (NYSE: ACN), Crowdstrike (NASDAQ: CRWD), and Palo Alto Networks (NASDAQ: PANW).
BetaShares NASDAQ 100 ETF (ASX: NDQ)
Another ASX ETF that could be a great buy and hold option is the BetaShares NASDAQ 100 ETF.
If you want to make long-term investments, it is always a great idea to invest in quality. Well, the good news is that this ETF is filled to the brim with quality.
It is home to 100 of the largest non-financial companies on the famous Nasdaq index. This includes companies such as AI chip manufacturer Nvidia (NASDAQ: NVDA) and iPhone maker Apple (NASDAQ: AAPL). Due to the quality on offer here, this ETF looks well-placed to continue beating the market over the next decade.
BetaShares S&P/ASX Australian Technology ETF (ASX: ATEC)
A final ASX ETF that could be a top buy and hold option is the BetaShares S&P/ASX Australian Technology ETF.
It allows you to invest in the leading ASX shares from a range of tech-related market segments.
Betashares recently tipped this fund as one to buy. It points out that "with the nascent adoption of AI, cloud computing, big data, automation, and the internet of things, there's a good chance that the next decade's major winners will come from the tech sector."
Among its holdings are health imaging technology company Pro Medicus Limited (ASX: PME), logistics solutions company WiseTech Global Ltd (ASX: WTC), and cloud accounting platform provider Xero Ltd (ASX: XRO).
