The Vanguard ASX-listed exchange-traded fund (ETF) Vanguard MSCI Index International Shares ETF (ASX: VGS) is one of the leading funds to help grow wealth, in my opinion.

As we can see on the chart below, it has already delivered excellent long-term returns for investors since its beginning on 18 November 2014, thanks to its exposure to the global share market.  

Returns

The global share market is where many of the world's best businesses can be found, though there are some wonderful businesses on the ASX too.

The VGS ETF's largest holdings have driven and are still driving many of Western society's technological changes, such as AI, online video, communication, and automated driving. I'm talking about companies like Nvidia, Apple, Microsoft, Alphabet, Amazon.com, Meta Platforms, and Tesla. Overall, the portfolio has more than 1,300 positions.

We don't know what the future returns of the VGS ETF will be, but if good companies keep investing to improve their offerings for customers and clients, they can, in my view, continue growing profit and achieving shareholder returns.

Impressively, the VGS ETF has returned an average of 12.8% per year since November 2014. Of course, past performance is not a reliable indicator. But, for the sake of showing how the fund's returns can help us become millionaires, that's the figure I'll use.

If someone regularly invests in this Vanguard ASX ETF, they could grow their wealth significantly through persistence and compounding.

Invest $1,000 per month

We don't need to invest a lot to become wealthy over time. Patience is important to become wealthy with ASX ETFs – it's a process of getting rich slowly (but not too slowly).

If someone is capable of investing an average of $1,000 per month, that would translate into $12,000 per year. If that money returned an average of 12.8% per annum through the VGS ETF, it'd take less than 24 years to become a millionaire.

Invest $2,000 per month

Investing more per month can make the dream of having a $1 million portfolio happen much faster. Years faster.

If I could invest $2,000 in this ASX ETF each month, it could become $1 million in less than 18 years, shaving six years off the required timeframe.

Invest $5,000 per month

Not many households may be able to invest $5,000 per month right now, particularly during this inflationary period.

But, for anyone lucky enough to have enough spare cash flow to invest $60,000 per year into this Vanguard ASX ETF, reaching a $1 million portfolio value could take under 10 years.

Foolish takeaway

I think the VGS ETF is a very effective investment option, both for the growth of wealth factor and the underlying diversification.