My 3 Favorite Vanguard ETFs to Buy Right Now

If I'm choosing three Vanguard ETFs that I feel are built both for the short term and the long term, I'm choosing these:

• Vanguard Total Stock Market ETF (NYSEMKT: VTI)
• Vanguard Dividend Appreciation ETF (NYSEMKT: VIG)
• Vanguard Russell 1000 Growth ETF (NASDAQ: VONG)

Each one fills a distinct role in a portfolio, so they can be used individually or as a collective set. VTI is the core of the portfolio and invests in the entire U.S. stock market. VIG is the dividend growth component that focuses on income and quality. VONG is the long-term growth piece that emphasizes high total return potential.

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Vanguard Total Stock Market ETF

This ETF is the best one to use for the foundation of a diversified portfolio. S&P 500 ETFs work fine for this purpose, but they're restricted to only the large-cap universe. The Vanguard Total Stock Market ETF includes mid-caps and small-caps as well, providing more comprehensive U.S. stock market exposure.

Vanguard Dividend Appreciation ETF

This ETF pairs well with a core equity position. Its emphasis on companies with 10-plus years of consecutive annual dividend growth helps ensure that their stocks are durable, financially healthy, and able to withstand multiple market environments. The market cap-weighting methodology actually gives a heavier-than-average allocation to tech stocks, making it a true "growth plus income" vehicle.

Vanguard Russell 1000 Growth ETF

If the Vanguard Dividend Appreciation ETF provides more conservative growth, this ETF would be its more aggressive growth counterpart. It's, unsurprisingly, very heavily invested in tech at the moment. Why this ETF instead of something like the Vanguard Growth ETF (NYSEMKT: VUG)? That ETF focuses much more heavily on the large-cap growth universe. The Vanguard Russell 1000 Growth ETF extends to both large-caps and mid-caps. For the same reasons I mentioned earlier, I like the more diversification option.

While each of these ETFs provides solid long-term growth potential from more financially healthy companies, I actually prefer them together.

The Vanguard Total Stock Market ETF gives you a strong core that you don't need to mess with over time. The Vanguard Dividend Appreciation ETF provides exposure to more mature companies that often offer products and services in demand, regardless of the economic environment. The Vanguard Russell 1000 Growth ETF is the riskier option, offering the potential for market-beating returns over time.

They're a trio of top-tier funds that serve different roles and work well together.

Of course, these ETFs don't cover small-caps, international stocks, or bonds. You'll need to add those elsewhere, but these are my three favorite funds that I'd consider buying today.

David Dierking has positions in Vanguard Dividend Appreciation ETF and Vanguard Total Stock Market ETF. The Motley Fool has positions in and recommends Vanguard Dividend Appreciation ETF and Vanguard Growth ETF. The Motley Fool has a disclosure policy.