If you're looking to make a million dollars or more in the stock market, I have some news for you: It's very possible! One good way to do it is via exchange-traded funds (ETFs) -- funds that trade like stocks.

Within the universe of ETFs -- and there are thousands of them out there -- you might choose to focus on Vanguard ETFs because Vanguard is a respected financial company known for ultra-low fees, among other things. Here's a look at two Vanguard ETFs, either of which could make you a millionaire.

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How money grows

First, here's a look at how your money might grow over time if it grows at 8%:

Source: Calculations by author.

I used an 8% growth rate because the S&P 500 has averaged annual returns close to 10% (ignoring inflation) over long periods, and I wanted to be a bit conservative. Over your investing period, you may average returns that are larger or smaller. The table below shows how money grows at faster rates:

Source: Calculations by author.

Now let's look at how you might set up your dollars to grow by 8% or perhaps 15% annually in your quest to become a millionaire.

The Vanguard S&P 500 ETF

Let's start with the most basic of Vanguard ETFs -- the Vanguard S&P 500 ETF (VOO -0.24%). It's an index fund tracking the S&P 500 (SNPINDEX: ^GSPC) index of 500 of America's biggest companies. Together, they make up about 80% of the American stock market, so you'll really be investing in most of the American economy with this fund.

You'll actually get much more than that because these days, lots of big (and even small) companies generate much of their revenue abroad. Indeed, as of last year, 41% of the S&P 500's revenue came from outside the U.S., per Citi Global Wealth Investments. So you'll be investing in the world market to some degree, too.

The recent top 10 holdings for the ETF are below:

Source: Vanguard.com as of Feb. 28, 2025.

Here's another great thing about the Vanguard S&P 500 ETF: Its ultra-low expense ratio (annual fee) of 0.03 means that you'll pay only $3 annually per $10,000 you have invested in it.

The Vanguard Information Technology ETF

The Vanguard S&P 500 ETF is really all most folks need to build wealth over time. Even Warren Buffett has recommended it heartily. If you can stomach more risk and volatility, though, and you want to aim for higher-than-average returns, you might park some of your dollars in a more aggressive Vanguard ETF -- the Vanguard Information Technology ETF (VGT) (VGT -0.58%).

Its expense ratio is steeper but still quite low at 0.09%. An investment of $10,000 in the ETF will cost you $9 for a year.

Check out the ETF's returns compared to those of the S&P 500 ETF:

Source: Morningstar.com as of March 17, 2025.

Remember that the S&P 500's long-term average annual gain is around 10%, so the returns above for the S&P 500 ETF are well above that, reflecting some very strong years in the stock market. Lower returns in the coming years should not be a surprise for both these funds.

So how is the Vanguard Information Technology ETF achieving such gains? Well, it's focused on a particular part of the U.S. economy -- the information technology sector, which includes "stocks of companies that serve the electronics and computer industries or that manufacture products based on the latest applied science."

The ETF recently held 314 different stocks, and these were its top 10:

Source: Vanguard.com as of Aug. 31, 2024.

Note how much of the ETF's assets -- 46% -- are in its top three holdings. Be sure you're comfortable with that if you're considering this ETF, as that's a lot of eggs in just a few baskets.

Consider investing in one or both of these funds, as either might make you a millionaire given enough time and sufficient money invested in them. Bear in mind that they're not the only outstanding portfolio candidates out there.