"I suggest Vanguard's."

Warren Buffett wrote those words in his 2013 letter to Berkshire Hathaway shareholders. The legendary investor had just explained why his will instructs that most of the cash his family inherits be invested in a low-cost S 500 index fund. Buffett didn't mind giving his preference of which one with his comment about Vanguard.

I think Buffett's choice of Vanguard is a good one. However, with the S 500 trading at a lofty valuation, other exchange-traded funds (ETFs) within the Vanguard family could be smarter picks for investors. One Vanguard ETF especially looks like a no-brainer buy right now.

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Source Fool.com