Investing in a stock with the hopes of it turning into 10 times its value is enticing, and it can lead to investors taking on significant risk for the sake of scoring a huge return. But the danger is that risky investments may not only underperform the market, they could lead to significant losses and destroy your portfolio.

For buy-and-hold investors, there are much safer ways to achieve 10x returns in the markets. Exchange-traded funds (ETFs) offer some terrific diversification, and while they might not double or triple in value in a short timeframe, they can still grow your money significantly over the years.

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A top ETF for investors to consider for the long haul is the Invesco QQQ Trust (NASDAQ: QQQ). Here's why it can be an ideal buy right now, and how it can generate 10x returns.

Historically, the fund has significantly outperformed the broader stock market

When times are good, growth stocks are where you want to invest. That's where the biggest gains often are. Undeniably, when market conditions aren't great, it's usually also growth stocks that can face the deepest declines.

Unfortunately, it's extremely difficult -- if not outright impossible -- to predict which year will be an exceptional one for the market versus a disastrous one. By staying invested for the long run, however, you can put yourself in a position to end up with great returns in the end. The gains from good years will likely more than offset the declines during the bad years. Investing in the stock market has been a solid move for investors, as over the long haul, the S&P 500 has averaged an annual return of around 10%.

To increase the odds of achieving a high return, the Invesco QQQ Trust can make for an even better investment option. It has positions in the top 100 non-financial stocks on the Nasdaq, positioning it for some significant growth. In recent years, with the markets being red hot, it has drastically outperformed the S&P 500.

Generating a 10x return could take a lot longer right now

From the chart above, you can see that the ETF has generated better than 10x returns over the past two decades. But investors should be careful not to make the assumption that it can replicate that type of performance in the future, because with the markets at record levels, there could be lighter returns than usual in the years ahead.

However, if you simply remain invested in a growth-focused fund such as the Invesco QQQ ETF, you'll still likely end up with some considerable gains in the long run. Suppose, for example, that the fund grows by a slower rate of 8% per year (including dividends), on average. Here's how a hypothetical $10,000 investment would grow in the fund under such an assumption.