You've probably seen this before: An under-the-radar company reports good news, and all of a sudden its shares soar by double digits in one trading session. Day traders who happen to get in on the stock cheer as they sell and lock in gains. And so you may be tempted to give day trading a try, with the goal of building a fortune.

But things don't always work out that way in the world of day trading, the high-risk business of buying and selling a stock within a period of hours. Sure, you could score some victories, but you're likely to face losses too -- and they could be devastating. Day trading isn't the surest way to riches for most investors.

I have some good news for you, though: There's another path to wealth, and it's much more secure. Long-term investing offers you many opportunities to grow wealth over time, and one of these strategies involves buying exchange-traded funds (ETFs). In fact, one ETF in particular could offer you all of the elements you need to significantly boost your portfolio over the long run. So, forget day trading and give the following asset a try.

A way to invest in many stocks

First, some quick notes on ETFs. These funds include a variety of stocks revolving around a particular theme -- for example, they can focus on growth or on an industry, or even track an index. The funds are traded like stocks, with prices fluctuating daily, so you can purchase shares of them just as you would a stock.

One thing to keep in mind before diving in is that ETFs involve some level of management, so they come with fees. In order to minimize your expenses and maximize your gains, you'll want to look at a fund's expense ratio and only consider buying if it's less than 1%.

There are many advantages to buying an ETF and holding on for the long term, versus trying to pick today's stocks-on-the-move and then selling them a few hours later. You don't have to identify one winner, because the ETF offers you exposure to many players -- and that increases your chances of winning. It also means you don't have to devote time daily to research and to following the market's and the economy's every move.

This investment over time allows you to benefit from companies' growth over a period of years -- which could amount to a greater return than a day trade. And all of this comes without the stress of day trading, so you can sleep at night.

Many ETFs offer great long-term opportunities today, but one I would zero in on for growth is the Schwab U.S. Large-Cap Growth ETF (NYSEMKT: SCHG). That's because this fund offers you all of today's top growth players, those that have driven the S&P 500 index into a new bull market. At the same time, the ETF has outperformed the S&P 500 over the past year.

Investing in the "Magnificent Seven"

Schwab U.S. Large-Cap Growth's top five holdings are Microsoft, Apple, Nvidia, Amazon, and Meta Platforms. And with Alphabet in the sixth position, the fund is heavily invested in most of the stocks known as the "Magnificent Seven," a reference to the 1960 Western; these players have reported solid earnings growth in recent times, and their stock performance has followed.

The fund also has a significant position in Eli Lilly, a pharmaceutical company that has stood out over the past year thanks to its top-selling weight loss drugs.

Right now, Schwab U.S. Large-Cap Growth favors information technology, consumer discretionary, communication services, and healthcare stocks -- they all have double-digit percentage weightings in the fund. But down the road this could change, depending on which industries and stocks are growing the most.

So, by investing in this fund, you'll always be betting on the market's highest-growth players -- and you won't have to lift a finger. On top of this, Schwab Large-Cap Growth's expense ratio is only 0.04%, making it a low-cost way to potentially achieve financial freedom.

Now, with a market environment favoring growth, is the perfect time to add such a fund to your portfolio -- and kick-start your effort to build wealth.

Should you invest $1,000 in Schwab Strategic Trust - Schwab U.s. Large-Cap Growth ETF right now?

Before you buy stock in Schwab Strategic Trust - Schwab U.s. Large-Cap Growth ETF, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Schwab Strategic Trust - Schwab U.s. Large-Cap Growth ETF wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $537,557!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.

See the 10 stocks »

*Stock Advisor returns as of April 22, 2024

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors.

Adria Cimino has positions in Amazon. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

Forget Day Trading: This Growth ETF Is a Better Way to Grow Wealth Over Time was originally published by The Motley Fool