2 cheap ETFs to buy for wealth and simple investing

These 2 cheap ETFs, including Vanguard FTSE Asia Ex Japan Shares Index ETF (ASX:VAE), could be good ways to create wealth through simple investing.

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Sometimes the simplest plan is the best idea. Investing doesn't have to be complicated, which is why exchange-traded funds (ETFs) are such attractive options.

An ETF allows us to buy a basket of shares with just a single investment. Depending on which ETF you choose, your investment money is spread across dozens, hundreds or thousands of businesses.

Some of the best ETFs in the world like iShares S&P 500 ETF (ASX: IVV) have incredibly low management costs and offer exposure to great underlying businesses.

But being an investor, I like to try to find ideas that make sense at the current prices. It's hard to pick something that's close to its all-time high. Here are two ETFs I think are trading at good value:

Vanguard FTSE Asia Ex Japan Shares Index ETF (ASX: VAE)

Asia as a whole is producing more consistent growth than other regions, although the Hong Kong troubles aren't helping.

There is a lot of wealth and profit flowing through Asia thanks to the economic growth of China, Taiwan and South Korea. Wealthier citizens means more discretionary spending, higher insurance spending, more infrastructure and so on. It is benefiting a wide array of businesses located in Asia. 

Some of the biggest businesses in this ETF, which is invested in around 1,200 businesses, are among the most impressive in the world including Tencent, Alibaba and Ping An.

One of the main reasons I'm attracted to this ETF is that it looks cheap for its growth rate. The ETF as a whole has a price/earnings ratio of 13.6% and an earnings growth rate of almost 12%.

BetaShares FTSE 100 ETF (ASX: F100

Brexit has done a lot of damage to the perceived safety of the UK share market and economy.

But I don't think Brexit means that the London Stock Exchange's largest businesses should necessarily be heavily punished for being listed in the UK rather than in the US.

This ETF is invested in the 100 largest businesses listed in the UK including names like HSBC, Royal Dutch Shell, BP, GlaxoSmithKline, Unilever and Reckitt Benckiser. They all generate earnings from across the world, not just in the UK. 

Whilst Brexit hasn't been kind to UK valuations, it has helped push the p/e ratio for this index to just over 13 and it offers a dividend yield of 4.65%.

Foolish takeaway

The UK ETF has risen nicely in recent weeks, so it doesn't look quite as good as it did before, but I'd still be willing to buy it. However, I do like the idea of diversifying my investments with Asian businesses, although I only want it to play a relatively small part of my portfolio.

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