Whether you're a seasoned investor or a first-time investor, exchange-traded funds (ETFs) can be a great way to grow your wealth. However, with thousands of ETFs to choose from, making a selection can be a daunting task.

One way to simplify the process is to narrow down your options. With that in mind, here are four ETFs offered by Invesco that I believe are worth considering.

Invesco S&P MidCap Quality ETF

First up is the Invesco S&P MidCap Quality ETF (NYSEMKT: XMHQ). This fund is focused on mid-cap stocks, meaning stocks whose market cap is between $2 billion and $10 billion.

The fund's holdings are diverse, with manufacturing (18%), finance (16%), industrials (8%), and technology (8%) comprising the largest sector representations.

The "quality" in the fund's name comes from the methodology used to select its holdings. The fund examines the S&P Midcap 400 index, then selects its holdings based on a combination of fundamentals, such as higher return on equity and balance sheet strength, and overall market cap. Stocks with the best fundamentals and the highest market caps earn the highest weighting in the fund.

As for fees, the fund's expense ratio is 0.25%, meaning investors pay $25/year for every $10,000 invested.

Invesco NASDAQ Internet ETF

Next up is a sector ETF, the Invesco NASDAQ Internet ETF (NASDAQ: PNQI). This fund, which targets companies whose primary business is operated on or through the internet, boasts top holdings from some of the world's best-known companies.

Yet even though this fund is a sector ETF, it boasts significant diversification. Large holdings like Alphabet and Meta Platforms rely on digital advertising; Walt Disney and Netflix are entertainment companies; Booking Holdings is a travel stock.

Turning to fees, the fund has an above-average expense ratio of 0.6%. However, that above-average fee has come with solid results. Since its inception in 2008, the fund has generated a compound annual growth rate (CAGR) of 14.2%, far ahead of the S&P 500's 10.9% return over the same period.

Invesco S&P 500® Quality ETF

Next is another ETF that hangs its hat on quality. This one is the Invesco S&P 500 Quality ETF (NYSEMKT: SPHQ). Similar to the Invesco S&P MidCap Quality ETF, this fund starts with an S&P index -- in this case the S&P 500 index -- then applies certain fundamental criteria to fine-tune its weightings.

The result is an index that looks and sounds like the S&P 500, but at the same time is not the S&P 500.

For example, here are the top 10 stocks in the S&P 500:

And here is the top 10 holdings for the Invesco S&P 500® Quality ETF:

As you can see, there are key differences. This fund weights Nvidia much higher, and Microsoft and Apple much lower, for starters. In addition, Mastercard and Visa are each weighted about four times higher in the Invesco fund than in the S&P 500. Moreover, classic blue chip stocks like Proctor and Gamble and ExxonMobil see their weightings lifted, while certain "Magnificent Seven" stocks like Amazon and Meta Platforms see their weightings cut significantly.

Turning to fees, investors pay a meager 0.15% expense ratio -- meaning only $15/year for every $10,000 invested. Lastly, the fund boasts a dividend yield of 1.3% -- in line with the overall S&P 500.

Invesco QQQ Trust

Last but by no means least is the most prominent of all Invesco funds, the Invesco QQQ Trust (NASDAQ: QQQ). The fund, also known as "the Qs," is one of the largest ETFs in the world, with average daily trading volume second only to the SPDR S&P 500 Trust (known as "the SPY").

More to the point, this ETF is perhaps the most successful ETF -- ever. A quick look at its 10-year total return performance reveals an astounding 18.4% CAGR. Granted, the fund has endured catastrophic drawdowns, such as an 88% peak to trough decline during the dot-com bubble of 2000-2003, and a 53% drawdown during the great financial crisis of 2007-2009.

Yet through it all, the QQQs have come roaring back. Led by tech giants like Apple, Microsoft, Nvidia, Broadcom, Alphabet, and Meta Platforms, the QQQs offers a quick, easy, and cheap way to invest in big tech.

The fund's 0.2% expense ratio is affordable, if not the lowest around, and its meager 0.6% dividend yield means this fund is not for income-seeking investors.

Nevertheless, most portfolios would do well to have a taste of the QQQs -- they're simply too good to ignore.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Jake Lerch has positions in Alphabet, Amazon, Invesco QQQ Trust, Procter & Gamble, Visa, and Walt Disney. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Berkshire Hathaway, Booking Holdings, JPMorgan Chase, Mastercard, Meta Platforms, Microsoft, Netflix, Salesforce, Uber Technologies, Visa, Walt Disney, and Williams-Sonoma. The Motley Fool recommends Broadcom and Johnson & Johnson and recommends the following options: long January 2025 $370 calls on Mastercard, long January 2026 $395 calls on Microsoft, short January 2025 $380 calls on Mastercard, and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

4 Invesco ETFs That Could Help You Retire a Millionaire was originally published by The Motley Fool