This tried-and-true index fund has been a consistent moneymaker for patient investors.

Warren Buffett is one of the most successful investors in American history. Under his leadership, Berkshire Hathaway stock has advanced 5,900,000% during the last six decades, while the S&P 500 ( ^GSPC 0.41% ) has returned about 43,000%. That makes Buffett a reliable source of inspiration, and he has regularly advised that investors buy an S&P 500 index fund.

"Over the years, I've often been asked for investment advice," Buffett wrote in his 2016 shareholder letter. "My regular recommendation has been a low-cost S&P 500 index fund." There are several funds that satisfy that description, but Buffett has specifically recommended the Vanguard S&P 500 ETF ( VOO 0.41% ) .

This advice coul

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