2 impressive ASX shares that could be buys in June 2021

Accent and the NASDAQ 100 could be good places to look for opportunities.

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There are some ASX shares that might be impressive investments to consider.

Businesses that are generating underlying profit growth could be able to produce good growth over time.

These two potential ASX share investments could be good ideas:

Betashares Nasdaq 100 ETF (ASX: NDQ)

This is an exchange-traded fund (ETF) that invests in the US share market. Specifically, it invests in 100 of the biggest businesses that are listed on the NASDAQ – a US stock exchange.

It's one of the larger ETFs on the ASX with assets of around $1.8 billion. Betashares Nasdaq 100 ETF is invested in many of the world's biggest businesses, that happen to be in the technology sector. That includes: Apple, Microsoft, Amazon, Alphabet, Facebook, Tesla, Nvidia and PayPal.

But, the ETF is not simply a FAANG ETF (though Netflix is in there too), investors can get diversification to many other businesses in different industries such as Comcast, Cisco Systems, Intel, PepsiCo, Broadcom, T-Mobile, Texas Instruments, Costco, Qualcomm, Applied Materials, Intuit, Starbucks, Advanced Micro Devices, Intuitive Surgical, Booking, Moderna and Zoom.

Betashares Nasdaq 100 ETF has an annual management fee of 0.48%.

Many of the above businesses are leaders in their sector in the US, or indeed globally. That allows them to benefit from economies of scale, higher margins and attractive profit profiles.

Since inception in May 2015, the ETF has produced an average return per annum of 20.9%. Past performance is not an indicator of future performance though.

Accent Group Ltd (ASX: AX1)

Accent is one of the leading ASX retail shares.

It sells through a variety of different stores and brands in Australia including Platypus, Hype, The Athlete's Foot, Trybe, Skechers, Vans, Timberland, CAT and Dr Martens.

The company is regularly adding to its portfolio, such as the recent acquisition of Glue Store, which has a focus on the youth market. Accent says that the fragmented youth apparel market provides it with a significant opportunity to grow stores and capture market share.

This acquisition gives the business the ability to leverage its retail expertise to improve the Glue merchandise offering and customer experience. The deal was at an attractive acquisition price, with a "significant" opportunity to improve profitability.

Glue has a network of 21 stores across the country, with 14 of them in NSW. Its product range includes leading domestic and global brands and growing owned vertical brands.

Accent is rapidly growing its digital sales. In the first half of FY21, online sales accounted for 22.3% of total sales. Digital sales grew by 109.6%, with orders increasing by 100% and the conversion rate improving by 31.6%. It continues to invest in its e-commerce technology offering.

It has 21 different websites across all of its brands. The ASX share has close to 600 stores, which enables it to provide an omnichannel distribution model to shoppers with a key presence in both metro and regional areas.

The business has 8 million contactable customers. Loyalty programs are going to be rolled out starting in the second half of FY21.

Accent has a goal of continuing to grow profit over the long-term and pay dividends to shareholders.

According to Commsec, the Accent share price is valued at 19x FY21's estimated earnings, with a grossed-up dividend yield of 6.3%.

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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