Over the long-term, I think it's the best businesses that will deliver the most pleasing compounding returns. With that in mind, there are a few ASX shares that I think could deliver market-beating returns.
These are investments that have already delivered very impressive business growth. Further successful expansion could help deliver compelling shareholder returns.
Both of my ideas below are tapping into international markets, giving them very appealing total addressable markets.
Tuas Ltd (ASX: TUA)
This business is the largest 'growth' position in my portfolio because of how compelling I think its outlook is. It's a Singaporean telecommunications business that is winning customers by offering good value products.
In the first quarter of FY26, the business revealed that its mobile subscribers had grown 20% year-over-year to 1.34 million, suggesting further market share gains in the Singapore market.
Pleasingly, the company is also seeing growing traction with its broadband offering – in that FY26 first quarter, the number of active broadband services grew by 27,300 year over year to 36,200.
This strong growth number helped quarterly revenue surge 24.5% to $44.2 million, while operating profit (EBITDA) rose 23.6% to $19.9 million.
Net profit growth has been significant in recent times. In the whole of FY25, it generated $6.9 million of net profit. Meanwhile, in the first quarter of FY26 alone, its net profit reached $9.1 million.
I'm expecting the ASX share's net profit to grow significantly from here, thanks to further subscriber growth, the acquisition of M1 and the potential for expansion in nearby countries.
Global X S&P World EX Australia Garp ETF (ASX: GARP)
The GARP exchange-traded fund (ETF) looks to me like one of the most effective ways to invest in global shares because it aims to invest in growth at a reasonable price (GARP).
There are a number of globally-diverse ASX ETFs that Aussies can buy. But, I prefer to invest in ones that are more selective, where they only invest in the best businesses.
The GARP ETF could be the most effective because of how many screens it puts large global stocks through. There are three main filters it looks at.
For growth, it looks at a company's 3-year sales per share growth and earnings per share (EPS) growth.
For value, the fund looks at the earnings to price ratio – this is another way of calculating the price/earnings (P/E) ratio.
On quality, the GARP ETF wants to see companies have healthy financial leverage (meaning debt levels) and a good return on equity (ROE). Global X explained:
Companies in the investable universe are first ranked based on growth metrics, with the top 500 stocks eligible for inclusion. From there, the top 250 stocks are selected based on their quality and value scores to determine the final index constituents. I'm calling this an ASX share because it invests in shares and we can buy it on the ASX.
It's invested in 250 companies spread across multiple countries and sectors, giving it pleasing diversification.
These are among my favourite ASX shares to buy right now.
