KXLY April 18, 2021 5:00 AM newsfeedback@fool.com (Katie Brockman) Posted: Updated: April 18, 2021 9:23 AM It’s possible to become a multimillionaire by investing in the stock market, but you’ll need to choose the right investments. Not all stocks are created equal, and some are better options than others. Investing in exchange-traded funds (ETFs) is a smart way to diversify your investments, because you’re investing in dozens or hundreds of stocks at once. There are different types of ETFs, though, including broad-market funds and niche funds. Broad-market funds, like S&P 500 ETFs, include stocks from a wide variety of industries. They tend to be lower risk, but they also experience lower returns, on average. Niche ETFs only contain stocks from a particular industry. They have the potential to earn higher-than-average returns, but they also carry more risk.