You might think that the only way to generate strong investment returns is to try and successfully pick individual stocks that can be huge winners over time. But investors might be surprised to learn that great returns can be achieved by simply buying and holding an exchange-traded fund (ETF).

For example, something like the Vanguard S&P 500 ETF (NYSEMKT: VOO) has historically been an excellent choice for patient long-term investors. As we look ahead, though, can this popular ETF turn you into a millionaire?

As the name suggests, the Vanguard S 500 ETF tracks the performance of the broader S 500, which consists of the 500 largest, most profitable companies based in the U.S. There are businesses of all sizes, all the way from the $3.4 trillion to the $15.9 billion News Corp. Investors gain exposure to the growth and innovation that happens in this country. Historically, that's been a winning bet.

Continue reading

Source Fool.com