The smartest ASX growth stock to buy with $1,000 right now

It's been a bit of a rough patch for many of the ASX's most popular growth stocks in recent months.

Although not a direct proxy, I like to use the BetaShares S&P/ASX Australian Technology ETF (ASX: ATEC) as a yardstick for ASX growth shares, as this exchange-traded fund (ETF) holds many, if not most, of the ASX's most popular high-growth companies.

As it currently stands, ATEC units are down by 21.8% over the past 2 months, a period that has seen the broader share market record a modest gain.

There's nothing wrong with the ASX's best growth stocks. However, if I had $1,000 to put into a growth stock on the ASX right now, I would opt for one that trades on the ASX, but actually represents a different market altogether.

That growth stock is the BetaShares Nasdaq 100 ETF (ASX: NDQ). This ETF and index fund is one of the best options for growth investors on the ASX, at least in my view. But how can a simple index fund offer the growth stocks that these investors crave? Well, this index fund is no collection of banks and miners, as ASX investors might be used to seeing. NDQ represents the largest 100 non-financial stocks listed on the American NASDAQ stock exchange.

The US has a rather unique American setup, with two major exchanges. The New York Stock Exchange is the traditional listing place for some of America's oldest companies. It's where you will find stocks like Procter & Gamble, Ford Motor Company and Coca-Cola Co.

The NASDAQ, meanwhile, is the newer, trendier exchange. It is widely known for being the place where almost every major US tech stock calls home.

This ASX growth stock has returned 33% per annum since 2022

For starters, all seven of the' Magnificent 7' tech titans are on the NASDAQ, and form the largest holdings of the NDQ ETF. Despite their size, these seven companies, including NVIDIA, Amazon, Alphabet, Microsoft and Tesla, remain some of the US's most exciting growth stocks.

But it's not just the Magnificent 7 that make NDQ an exciting investment for those looking for growth stocks. Some of its other major holdings include Broadcom, Netflix, Palantir Technologies, Costco, AMD, Shopify and Booking Holdings.

An investment in the ASX's NDQ ETF is an investment in all of these exciting growth stocks.

We can safely call the Betashares Nasdaq 100 ETF a growth stock thanks to its breathtaking performance history in recent years. As of 31 December, NDQ units have returned an average of 33.14% per annum over the past three years, 18% per annum over the past five and 19.99% over the past ten.

Now, there's no guarantee that this performance will continue, of course. However, NDQ's holdings are still, at least in my view, some of the most exciting stocks on the planet. As such, I think this ASX ETF is a great place to invest if you're looking for a top-tier growth stock on the ASX in 2026.

The post The smartest ASX growth stock to buy with $1,000 right now appeared first on The Motley Fool Australia.

Motley Fool contributor Sebastian Bowen has positions in Alphabet, Amazon, Costco Wholesale, Microsoft, and Netflix. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Advanced Micro Devices, Alphabet, Amazon, BetaShares Nasdaq 100 ETF, Booking Holdings, Costco Wholesale, Microsoft, Netflix, Nvidia, Palantir Technologies, Shopify, and Tesla. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Broadcom. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended Advanced Micro Devices, Alphabet, Amazon, Booking Holdings, Microsoft, Netflix, Nvidia, and Shopify. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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