Value stocks can make for solid long-term investments. They're stocks with good fundamentals and whose valuations are relatively low. That can make them less vulnerable to downturns, and they can potentially generate some modest returns for investors in the long run.

An exchange-traded fund (ETF) that focuses on value stocks can be a good option to build your portfolio around. You'll know that your investment will be fairly safe over the long haul. And by having a strong value-focused ETF as a big chunk of your overall portfolio, you free yourself to take on a bit more risk with other investments.

One ETF that I think can be a no-brainer buy for all investors is the Vanguard Value Index Fund ETF (VTV -0.15%). With plenty of diversification, a focus on value, and low costs, it's an easy place to invest money regularly, and it's suitable for any type of investor. It's the type of investment you can just buy and forget about.

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The fund gives you exposure to many big-name value stocks

As of the end of July, the fund had 323 stocks in its portfolio. The two largest holdings, JPMorgan Chase and Berkshire Hathaway, each account for around 3% of the total fund. It doesn't have significant exposure to any single stock, which makes it an ideal option for risk-averse investors. Other blue chip stocks in the ETF include big names such as Walmart and Procter & Gamble.

These are among the safest stocks you can invest in, and you can gain access to many of them through this ETF. What investors may also like is its focus on fairly stable sectors, including financials, healthcare, and industrials, which together account for more than half of its total holdings. By contrast, tech stocks, which can be volatile and prone to high valuations, account for just over 7% of the fund's holdings.

Overall, the ETF averages a price-to-earnings multiple of just under 20, which is below the S&P 500 average of 25.

Low fees and above-average yield sweeten the deal

In addition to excellent value, diversification, and low risk, the ETF also has an extremely light expense ratio of 0.04%, typical for a Vanguard fund. Low fees are crucial when you're investing for the long haul, as they can add up over time and chip away at your overall returns.

The fund also yields 2.2%, which is notably better than the S&P 500 average of 1.2%. The dividend income enables you to generate some valuable cash flow without having to sell any of your investments, or you can simply use it to reinvest in the ETF. Over the past decade, the Vanguard Value Index Fund has generated total returns (including dividends) of around 210%.

That's lower than the 300% total returns the S&P 500 has generated over that time. Lower potential returns are one of the drawbacks of focusing on value stocks, but in return you get much more stability and safety in the long run.

This Vanguard ETF is a great option to just buy and hold

Whether you're worried about the stock market and want some safety or you just want an investment you won't have to worry about for the long haul, the Vanguard Value Index Fund can be ideal for your portfolio. It can be a solid go-to ETF to put money into regularly, giving you a good mix of growth, value, and dividends.