The bear market isn't over and it may still drag on as there isn't light at the end of the tunnel just yet. A recession is likely coming and it may just be a question of how long it will last rather than if it will take place. That means there could be tougher times ahead for businesses, and more declines in store for stocks.

But if you're a long-term investor, one option to consider and that has typically made for a good investment is in growth stocks, particularly those on the Nasdaq. And a good exchange-traded fund (ETF) that can give you exposure to the top stocks on the Nasdaq is the BMO Nasdaq 100 Equity Hedged to CAD Index ETF (TSX:ZQQ). For Canadian investors, this can be a good way to have an interest in the top tech stocks, many of which trade only on the U.S. exchange. In the past five years, BMO's Nasdaq 100 fund has generated returns of 86% -- far higher than simply investing in the S&P 500, which is up 56% over the same period.

The fund has a relatively modest management expense ratio of 0.39% and in exchange for it, investors gain access to some of the top stocks in the world. Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL), and Amazon (NASDAQ:AMZN) are the ETF's top three holdings. There are many other solid tech stocks in the fund that make it an excellent long-term investment. At 50%, tech stocks make up the vast majority of the fund's holdings, followed by communication stocks and consumer discretionary, each at 16%.

Read:

• Promising New Cancer Treatment Data to Be Presented at 2023 ASCO Annual Meeting

• Global Lithium Supply Under Pressure as South American Nations Discuss "Lithium OPEC"

• International Lithium Buyers Looking to South America to Fill Supply Gaps

• Race to Secure Critical EV Battery Metals Ahead of Chinese Dominance Fully Underway

• Help is on the Way as Rising Alzheimer’s Cases Highlight Urgency for New Treatments

Overall, this is a solid ETF for investors to buy and hold for years.