1 No-Brainer S&P 500 Vanguard ETF to Buy Right Now for Less Than $1,000

Putting money to work in individual stocks can work out extremely well. However, for some investors, adopting a more diversified and simplistic approach makes the most sense. Luckily, there are some compelling exchange-traded funds (ETFs) that provide investors with exposure to certain market themes and sectors.

That being said, if you have less than $1,000 to invest, look no further than the Vanguard S&P 500 Growth Index Fund ETF (NYSEMKT: VOOG). Here are three reasons why it deserves a place in your portfolio.

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1. Betting on growth

As its name suggests, the Vanguard S&P 500 Growth Index Fund ETF provides investors with exposure primarily to growth-oriented companies within the S&P 500 (SNPINDEX: ^GSPC). In total, this ETF contains 209 stocks, giving investors a lot of diversification within their overall portfolios.

Nonetheless, the fund has popular stocks investors are undoubtedly familiar with. The "Magnificent Seven" are extremely important. Combined, they represent 44.7% of the ETF. Their performance has a big impact on the fund.

Essentially, investors are betting heavily on the success of America's most well-known growth businesses. The advantage is that someone doesn't need expert financial modeling or investment analysis skills. Investing in the Vanguard S&P 500 Growth Index Fund ETF is a no-hassle, low-maintenance approach, freeing up lots of time for other endeavors.

2. Solid performance at a low cost

Besides its exposure to growth, another reason investors should consider buying the Vanguard S&P 500 Growth Index Fund ETF is perhaps something people care about most: performance. In the past decade, it has generated a total return of 277%, well ahead of the overall S&P 500's 230%. Investors would have nearly quadrupled their starting capital in 10 years -- a wonderful result.

This ETF's gains are even more impressive when zooming out. Since the fund's inception in September 2010, it has outperformed the broader S&P 500 by a notable 131%. This type of performance speaks for itself.

You might think the ETF is saddled with a high fee that eats away at investor returns. However, this is not the case. The ETF's expense ratio is just 0.07%. For every $1,000 invested, only $0.70 goes to the fee on an annual basis. Investors get to keep more of their money in the long run.

3. Buy the dip

While it's generally a good idea to put money to work in the stock market, now looks like a particularly good time to be on the offensive. As of this writing, the Vanguard S&P 500 Growth Index Fund ETF trades 9% below its all-time record, established in February. The market's softness presents a worthwhile opportunity.

Investing when there's so much uncertainty can be daunting. After all, everyone is talking about the new political landscape or how the economy will shape up in the near term. And this might discourage you from allocating capital.

But to be clear, there's always something to be worried about. Investors should remain optimistic about the long-term trajectory of the economy, instead of waiting until uncertainty subsides.

Time in the market matters much more than trying to successfully time the market. The latter is a losing game. By investing $1,000 into the Vanguard S&P 500 Growth Index Fund ETF today, you're making a no-brainer financial decision that's likely to benefit your portfolio well into the future.

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Neil Patel and his clients have no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.