I believe that buy and hold investing is one of the best ways to grow your wealth. That's because the longer you invest, the longer you can benefit from compounding, which helps accelerate wealth creation.
But if you're not a fan of stock picking, don't let that put you off.
Instead, you could consider exchange traded funds (ETFs), which are here to make your life easier.
ETFs allow investors to buy large groups of shares through a single investment. This means that not only can you build a diverse portfolio effortlessly, but you don't have to worry about dedicating time to researching individual shares.
But which ASX ETFs could be top buy and hold investment options? Let's take a look at three to consider buying for the long term:
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BetaShares Global Cybersecurity ETF (ASX: HACK)
The first ASX ETF that could be a top buy and hold option is the BetaShares Global Cybersecurity ETF.
It provides investors with access to the cybersecurity industry, which has been tipped to grow materially in the future. For example, Betashares highlights that "an estimate of the total addressable market by McKinsey suggests that the cybersecurity market is $1.5-$2.0 trillion globally, and at best only 10% penetrated with a very long runway for growth."
This should be good news for the companies held by the ETF. This includes the leading players in the industry and up and coming names.
iShares S&P 500 ETF (ASX: IVV)
Another ASX ETF that could be a top option buy and hold option is iShares S&P 500 ETF.
It gives investors access to the 500 largest companies on Wall Street. This is a diverse group of stocks from a large number of sectors. For example, you will be buying a slice of tech giants such as Apple, Nvidia, and Tesla, as well as companies like McDonalds, Walmart, and Nike.
iShares, notes that investors can "use [the ETF] to diversify internationally and seek long-term growth opportunities in your portfolio."
VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)
A third ASX ETF that could be a great buy and hold option is the VanEck Vectors Morningstar Wide Moat ETF.
This ETF has a focus on companies that are judged to have sustainable competitive advantages (aka wide moats) and fair valuations. When legendary investor Warren Buffett looks for investments for Berkshire Hathaway (NYSE: BRK.B), he tends to look for these qualities. So, given how he has consistently beaten the market since all the way back in 1965, it seems apparent that his investment strategy works wonders.
The companies included in the fund will change periodically. At present, they include food company Campbell Soup (NYSE: CBP), sportswear giant Nike (NYSE: NKE), entertainment leader Walt Disney (NYSE: DIS), and beauty products company Estee Lauder (NYSE: EL).
