1 Remarkable Growth ETF That Could Turn $50 Per Week Into $1 Million

Investing in the stock market is one of the most effective ways to build long-term wealth, but choosing the right investments is critical.

While the market has been rebounding in recent weeks, many investors are understandably concerned about an upcoming recession. Investing in an exchange-traded fund (ETF) can help limit your risk while still maximizing your returns.

An ETF is a basket of securities bundled together in a single investment. When you invest in just one ETF, then, you're actually investing in dozens or even hundreds of different stocks. That diversification helps reduce your risk, particularly during periods of market volatility.

There are thousands of ETFs out there, but there's one growth ETF, in particular, that could help protect your savings while still turning $50 per week into a million dollars or more -- with next to no effort on your end.

A growth ETF that packs a punch

Growth ETFs are designed to beat the market, and they contain stocks that have the potential for above-average returns. While they can carry more risk than broad-market funds (such as S&P 500 ETFs), they're also more likely to earn higher returns over time.

One fantastic growth ETF that effectively balances risk and reward is the Vanguard Growth ETF (VUG 1.82%).

The Vanguard Growth ETF contains 240 stocks from a variety of industries, though around half of the fund is comprised of stocks in the tech sector. It also has a rock-bottom expense ratio of just 0.04%, which is far lower than many other growth ETFs and could save you thousands of dollars in fees over time.

Perhaps the best advantage of this fund, however, is its mix of blue chip stocks and up-and-coming companies.

This ETF's top 10 holdings make up around half of the fund's total composition, and these 10 stocks are from behemoth companies ranging from Apple and Amazon to Visa and Home Depot.

The other half of the fund is made up of hundreds of smaller stocks from up-and-coming companies. While these stocks carry more risk than their blue chip counterparts, they also have more potential for explosive growth. If any one of these stocks goes on to become a superstar performer, it could result in lucrative returns.

In other words, this fund helps balance risk and reward by equally weighting safer, solid blue chip stocks with smaller stocks loaded with potential. If you're nervous about market volatility but still want to make the most of your money, this ETF could be a smart option.

Building a million-dollar portfolio

There are never any guarantees when investing, but this fund is designed to beat the market over time. By investing consistently for many years, you can transform just $50 per week into hundreds of thousands of dollars or more.

Over the past 10 years, the Vanguard Growth ETF has earned an average rate of return of just under 15% per year.

To play it safe, however, let's assume that over the long haul, your investment only earns an average return of 12% per year (which is just above the stock market's historic average of 10% per year).

If you were to invest $50 per week while earning a 12% average annual return, here's approximately how much you'd accumulate over time:

Data source: Author's calculations via Investor.gov

To reach $1 million in total savings, you'll need to invest consistently for 35 years. But if you have even five more years to invest, you could nearly double your total earnings and close in on the $2 million mark.

If this ETF significantly outperforms the market and earns average returns higher than 12% per year, you could earn far more over time.

Time is your most valuable resource when investing in the stock market, and the sooner you get started, the more you can accumulate over time. The Vanguard Growth ETF is a smart fit for many portfolios, and it can help limit your risk while maximizing your long-term earnings.