For Australians aspiring to become a millionaire, there are a number of ASX share investments that could help make it a lot easier.
ASX growth shares are certainly one attractive option. But, it's good to have one investment, or central investments, that look likely to perform well and can provide investors with adequate diversification as a core part of an investment strategy.
Exchange-traded funds (ETFs) are very useful investment vehicles because they can give investors exposure to different asset exposures. I think the Vanguard MSCI Index International Shares ETF (ASX: VGS) is one of the most effective choices Aussies can make if they want to become a millionaire with a simple investment strategy.
Fantastic investment exposure
The Vanguard MSCI Index International Shares ETF gives investors incredible diversification because it's invested in the global share market.
Owning shares in 10 or 20 different businesses is a solid amount of diversification. The VGS ETF is invested in close to 1,300 businesses from across the world. Based on that, it could easily work as the only investment in someone's portfolio, though I'd advocate for other holdings too.
The businesses in the portfolio are not just listed in one country, such as the ASX. Companies come from various markets including the US, Japan, Canada, the UK, France, Germany, Switzerland, the Netherlands, Sweden, Spain, Italy, Hong Kong, Denmark and Singapore.
This fund would be a very effective choice as a one-size-fits-all idea for Australians who are very concentrated on the ASX but want exposure to the global economy.
Pleasingly, the fund has investments across a number of sectors. At the end of November 2025, there were five sectors with a weighting of around 10% or more – information technology (27.7%), financials (16.1%), industrials (11%), consumer discretionary (10.1%) and healthcare (9.9%).
It's such an effective choice for investors who want to invest in great businesses but do very little ongoing work analysing companies or deciding on which countries/sectors to gain exposure to.
Why this global share-focused fund can help people become millionaires
Diversification for the sake of it doesn't necessarily bring wealth quicker, though it can help avoid risks and pitfalls.
Thankfully, the VGS ETF is invested in many of the world's strongest businesses, which is helping the fund itself deliver good returns over time.
Since the Vanguard MSCI Index International Shares ETF's creation in November 2014, it has returned an average of 13.8% per year. This is thanks to its exposure to names like Nvidia, Apple, Microsoft, Amazon and Broadcom, as well as plenty of other impressive performers such as Intuitive Surgical.
I'm optimistic the fund can continue to deliver good returns because its portfolio has a return on equity (ROE) ratio of 19.6%. That implies to me that the businesses could collectively deliver good returns on future retained profits.
If someone were to invest $1,500 per month and it returned an average of 13.8% per year it would turn into $1 million in 20 years. That sounds fantastic to me. If a 30-year-old started on that journey, they could have a $1 million portfolio by the time they're 50!
