Investing in exchange-traded funds (ETFs) can be a great way to build wealth while limiting your risk.

Each ETF may contain hundreds or even thousands of stocks, making it easier to create a diversified portfolio. ETFs are also "set it and forget it" types of investments, and they perform best when you invest consistently and leave your money alone for as long as possible.

Growth ETFs are designed to include stocks with the potential for above-average returns, and they can be a fantastic option to supercharge your earnings. By investing in any of these three funds and holding them for as long as possible, you'll be on your way to generating long-term wealth.

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1. Invesco QQQ ETF

The Invesco QQQ ETF (NASDAQ:QQQ) tracks the Nasdaq 100 Index, meaning it includes 100 of the largest non-financial companies listed on the Nasdaq itself. Around half of the stocks in the fund are from tech companies, and some of the largest holdings include Apple, Microsoft, Amazon, and Tesla.

Because this fund contains largely tech stocks, it does carry more risk -- but also more room for reward. Tech companies can be more volatile than organizations in other industries, but they're also known for their exponential growth.

One advantage of this ETF is that it has a long track record. It was established in 1999, making it one of the oldest ETFs. Over the past 10 years, it's earned an average rate of return of nearly 20% per year. And since its inception in 1999, its average return is just over 9% per year.

2. Schwab US Large-Cap Growth ETF

The Schwab US Large-Cap Growth ETF (NYSEMKT:SCHG) tracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. It includes 234 stocks from large companies experiencing faster-than-average growth.

Because it contains a greater number of stocks, this fund provides more diversification than QQQ. Similar to QQQ, though, it's also focused primarily on the tech industry. Tech stocks make up nearly half of this fund's holdings, though it also includes stocks from a variety of other sectors, such as consumer discretionary, communication services, and healthcare.

This ETF was launched in 2009, so it doesn't have as long a history as some other ETFs. However, since its inception, it's earned an average rate of return of around 17% per year.

Considering we've been experiencing a phenomenal bull market over the past decade, that type of growth may not be sustainable over the next several decades. But because growth ETFs are designed to see above-average growth, this ETF may still earn substantial returns over time.

3. Vanguard Russell 1000 Growth ETF

The Vanguard Russell 1000 Growth ETF (NASDAQ:VONG) tracks the Russell 1000 Growth Index. It includes 501 stocks from a variety of industries, including technology, consumer discretionary, industrials, and healthcare.

Of all the ETFs on the list, this fund includes the highest number of stocks and provides the most diversification. A more diversified portfolio can limit your risk, because your money is spread across a greater number of stocks.

Established in 2010, this fund does have the shortest track record of the ETFs on the list. Since its inception, though, it's earned an average return of more than 18% per year. Again, you may not experience returns quite this high over time, but you could still see above-average earnings.

Choosing the right stocks is critical when investing, and ETFs can make it easier to reduce your risk while maximizing your earnings. By adding growth ETFs to your portfolio, you can generate wealth that lasts a lifetime.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.