These 3 ETFs are great low-cost options to hold for the long haul.

When the market is on a tear, it's tempting to hold back and wait for a pullback. The problem is that waiting usually works against you.

History shows that new highs aren't rare, and many times stocks never revisit those lower levels again. A J.P. Morgan study found that since 1950, the S&P 500 hit a new high on about 7% of trading days, and nearly a third of those times it never traded below that level again.

That's why dollar-cost averaging works. By putting money to work regularly, you take the guesswork out of timing and let compounding do the heavy lifting. Exchange-traded funds (ETFs) are one of the best tools to employ this strategy, and Vanguard remains the gold standard for low-cost, high-quality ETFs.

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