The iShares S&P 500 ETF (ASX: IVV) and the Betashares Nasdaq 100 ETF (ASX: NDQ) are two popular ways for ASX investors to access US shares.

I think both are strong long-term investments.

But the better choice comes down largely to how much concentration and volatility an investor is comfortable accepting.

Why I like the IVV ETF

The IVV ETF tracks the S&P 500 Index, giving investors exposure to around 500 of America’s largest companies.

I like it as a core holding because the portfolio reaches across technology, healthcare, financial services, industrials, consumer businesses, and other major parts of the US economy.

There is still plenty of exposure to companies benefiting from technological change. Nvidia, Microsoft, and Amazon are among the major businesses represented.

But the investment case does not depend as heavily on technology remaining the strongest part of the market.

That makes the IVV ETF the option I would favour if I wanted broad US exposure and something I could comfortably keep adding to through a wide range of market conditions.

Why take more risk with the NDQ ETF?

The NDQ ETF tracks the Nasdaq 100 Index, which contains 100 of the largest non-financial companies listed on the Nasdaq.

Its portfolio is much more concentrated in technology and growth businesses. That could work particularly well if areas such as artificial intelligence, cloud computing, semiconductors, digital advertising, and software continue expanding strongly over the next decade.

I also like that the Nasdaq 100 can change as new corporate leaders emerge. Investors are not locking themselves into today’s biggest technology companies forever.

The trade-off is that the NDQ ETF can be much more sensitive when growth shares fall out of favour.

A sharp sell-off in technology can hit a large portion of the portfolio at once, while the IVV ETF has more exposure to other industries that may behave differently.

For investors comfortable riding through those swings, I think the extra concentration could also provide greater upside if its major growth businesses continue performing strongly.

Which would I buy?

If I wanted the more balanced option, I would choose the IVV ETF.

It still gives me access to many of America’s leading growth companies, but I would be spreading my money across a much wider section of the economy.

If I had a higher tolerance for risk and wanted greater exposure to technology-led growth, I would lean towards the NDQ ETF.

There is also no reason investors necessarily need to choose only one. Holding both would increase exposure to many companies that appear in each index, so I would just be conscious of that overlap.

Foolish takeaway

For me, this is less about identifying a winner and more about choosing the ETF that suits the investor.

The IVV ETF would be my preference for someone wanting broad US exposure with less concentration.

The NDQ ETF could suit investors willing to accept more volatility in pursuit of stronger growth.

I think both can be excellent buy and hold investments when matched with the right risk tolerance.

The post IVV vs NDQ ETF: Which is the better buy? appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon, BetaShares Nasdaq 100 ETF, Microsoft, Nvidia, and iShares S&P 500 ETF. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended Amazon, Microsoft, Nvidia, and iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The ResMed Inc. (ASX: RMD) share price is trading around $31.89 on Friday.

For a global healthcare business with a long runway still ahead, I think that price is becoming difficult to overlook.

A huge amount of the market remains untreated

ResMed is already one of the world’s leading providers of sleep apnoea treatment, but the potential market is far from mature.

The company estimates that more than one billion people globally have sleep apnoea. Yet fewer than 20% of patients in the US are diagnosed or treated, with penetration below 10% across the rest of the world.

That puts the growth opportunity into perspective. ResMed does not need to discover an entirely new market. There is already an enormous population that could benefit from treatment but has yet to receive it.

The company also expects the number of US adults with obstructive sleep apnoea to reach around 77 million by 2050.

I think improving awareness, diagnosis, and access to treatment could keep bringing new patients into the market for many years.

More patients can mean years of spending

ResMed’s opportunity does not finish when somebody receives their first machine.

Treatment generally involves masks and other products that need replacing over time, giving the company an ongoing relationship with patients.

ResMed says the global device market is growing at a mid-single-digit rate, while the market for masks is growing at a high-single-digit rate.

I like that combination. The company can benefit from more people beginning treatment while continuing to serve the large group already using its products.

ResMed is also expanding more broadly into sleep health, including areas such as restless legs syndrome following its acquisition of Noctrix.

The valuation looks attractive

According to CommSec, consensus earnings per share forecasts stand at $1.69 in FY27, $1.84 in FY28, and $1.98 in FY29.

At $31.89, the company trades on a PE ratio of just under 19 times forecast FY27 earnings.

By FY29, today’s ResMed share price represents a little over 16 times expected earnings.

I think that looks cheap for a business expected to keep growing earnings while pursuing such an underpenetrated global market.

There are still risks. Competition, changes in treatment methods, healthcare reimbursement, and weaker-than-expected patient growth could all affect the outlook.

Foolish takeaway

What attracts me at $31.89 is the combination of a cheap valuation and a growth opportunity that still looks substantial.

ResMed already has global scale, but treatment penetration suggests there are many more patients still to reach.

With earnings also forecast to rise over the next few years, I think the current share price offers an attractive entry point for long-term investors.

The post Is the ResMed share price too cheap to ignore? appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is edging higher again on Friday after a choppy start to September.

At the time of writing, the benchmark index is up 0.12% to 9,031 points, after briefly climbing above 9,060 earlier this morning.

That follows Thursday’s 0.46% gain, which snapped a 3-day losing streak and helped the market recover some of Wednesday’s 0.97% fall.

The positive start is being seen across much of the market. At the latest check, 126 ASX 200 shares were trading higher, compared with 57 fallers and 17 unchanged.

So, what is driving the market higher today?

US markets set the tone

The biggest support came from Wall Street, where US stocks finished higher overnight.

The Dow Jones Industrial Average Index (DJX: .DJI) rose 1.18%, while the S&P 500 Index (SP: .INX) lifted 1.06% and the Nasdaq Composite Index (NASDAQ: .IXIC) shot up 1.40%.

The rally came after US Federal Reserve Governor Christopher Waller said he would support keeping interest rates unchanged this month if upcoming data shows inflation is continuing to cool.

That saw markets reduce the chance of a September rate hike to around 50%, down from more than 63% a day earlier.

But investors will get another important piece of data tonight when the latest US jobs report is released.

Economists expect the US economy added around 56,000 jobs in August, with the unemployment rate holding at 4.1%.

Banks and gold stocks move higher

Back home, the major banks are helping push the market higher this morning.

Commonwealth Bank of Australia (ASX: CBA) shares are up 0.85% to $161.95, while ANZ Group Holdings Ltd (ASX: ANZ) is 0.97% higher at $38.38.

National Australia Bank Ltd (ASX: NAB) shares have gained 0.56% to $39.49, and Westpac Banking Corp (ASX: WBC) is up 0.63% to $35.13.

Gold miners are also having a strong morning after the gold price rose around 2.54% overnight to roughly US$4,480 an ounce.

Northern Star Resources Ltd (ASX: NST) shares are up 1.99% to $23.63, while Evolution Mining Ltd (ASX: EVN) has gained 1.50% to $15.24.

BHP and Rio Tinto weigh on ASX 200

Not everything is moving higher today, with weakness among the big miners holding the ASX 200 back.

BHP Group Ltd (ASX: BHP) shares are down 1.73% to $62.68, despite its US-listed shares pointing to a stronger start before the opening bell.

Rio Tinto Ltd (ASX: RIO) is also down 1% to $175.34, although Fortescue Ltd (ASX: FMG) is moving the other way, up 1.65% to $17.23.

The post What’s driving the ASX 200 higher today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.