MILN
Global X Millennial Consumer ETF
The Global X Millennials Thematic ETF tracks an index composed of US-listed companies that derive a significant source of their revenue from spending categories determined to be associated with millennials--people born between 1980 and 2000.
Fund Basics
| Fund sponsor | Global X |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | May 04, 2016 |
| Assets (mns) | $101 |
| Expense ratio | 50 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| UBER TECHNOLOGIES, INC. | 4.3 % |
| AMAZON.COM INC | 3.9 % |
| META PLATFORMS INC | 3.8 % |
| ALPHABET INC. CLASS A | 3.6 % |
| AIRBNB, INC. CLASS A | 3.5 % |
| INTUIT INC | 3.4 % |
| BOOKING HOLDINGS INC. | 3.4 % |
| NETFLIX INC | 3.2 % |
| COSTCO WHOLESALE CORP | 3.1 % |
| CHIPOTLE MEXICAN GRILL-CL A | 3.1 % |
Constituent Breakdown
| Number of holdings | 82 |
| Herfindahl-Hirschman Index | 243 |
| Wgt avg mkt cap (mns) | $321,428 |
| Large cap (>$10bn) | 85.6% |
| Mid cap ($2-10bn) | 7.9% |
| Small cap (<$2bn) | 5.7% |
| Developed mkts. | 98.8% |
| Emerging mkts. | 1.3% |
Country Exposure
 |
UNITED STATES | 95.5 % |
 |
LUXEMBOURG | 2.5 % |
 |
SINGAPORE | 1.3 % |
 |
BRITAIN | 0.5 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 23.1% | 13.4% | -15.3% | 0.2% | 6.6% | -- | 11.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.21 | 81% |
| MSCI EAFE | 1.11 | 71% |
| MSCI Emg Mkts | 0.93 | 48% |
Liquidity Measures
| Avg. volume (000) | 13 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.29% |
| ADV of underlying (mns) | $29,974 |
Technical Indicators
| Recent close | $31.05 |
| 30d moving avg. | $31.82 |
| Annualized volatility | 24.1% |
| Relative strength (RSI) | 42 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 4.7% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. MILN |
Expenses vs. MILN |
ALTAR Score™ vs. MILN |
|---|---|---|---|---|
| IYC | iShares U.S. Consumer Services ETF | 33.7% | -11 bp | +1.6% |
| PNQI | Invesco NASDAQ Internet ETF | 31.3% | +10 bp | +0.2% |
| XNTK | SPDR NYSE Technology ETF | 28.1% | -15 bp | +1.7% |
| TIME | Clockwise Capital Innovation ETF | 27.5% | +46 bp | +0.1% |
| IEDI | iShares Evolved U.S. Discretionary Spending ETF | 26.2% | -32 bp | +2.7% |
| SFYF | SoFi 50 ETF | 25.8% | -21 bp | -2.1% |
| FBCG | Fidelity Blue Chip Growth ETF | 25.8% | +9 bp | -0.3% |
| PLAT | WisdomTree Modern Tech Platforms Fund | 25.6% | -30 bp | -2.0% |
| IBUY | Amplify Online Retail ETF | 25.3% | +15 bp | -1.7% |
| FDN | First Trust Dow Jones Internet Index Fund | 25.1% | +2 bp | +0.1% |
Risk and Returns: MILN vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/20/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
MILN
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
MILN
2.4%
Cat. Avg
6.3%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 2.4% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 899 funds in the US Equities category, with an average ALTAR Score™
of 6.3% and a standard deviation of
3.1%. MILN's ALTAR Score™ is approximately
1.3 standard deviations
below
the category average. This places MILN in the 10st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
MILN
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MILN | 50.0 | 28.7 | 78.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .