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.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
113.1 M
ASSETS UNDER MGMT
50 bp
EXPENSES
Fund Basics
| Fund sponsor | Global X |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | May 04, 2016 |
| Assets (mns) | $113 |
| 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. | 3.2 % |
| SEA LTD. (SINGAPORE) SPONSORED ADR CLASS | 3.2 % |
| APPLE INC | 3.2 % |
| NETFLIX INC | 3.1 % |
| SPOTIFY TECHNOLOGY SA | 3.1 % |
| BOOKING HOLDINGS INC. | 3.1 % |
| COSTCO WHOLESALE CORP | 3.1 % |
| DOORDASH, INC. CLASS A | 3.1 % |
| INTUIT INC | 3.0 % |
| FISERV, INC. | 3.0 % |
Constituent Breakdown
| Number of holdings | 80 |
| Herfindahl-Hirschman Index | 259 |
| Wgt avg mkt cap (mns) | $362,658 |
| Large cap (>$10bn) | 86.5% |
| Mid cap ($2-10bn) | 9.9% |
| Small cap (<$2bn) | 3.6% |
| Developed mkts. | 96.2% |
| Emerging mkts. | 3.9% |
Country Exposure
 |
UNITED STATES | 93.4 % |
 |
SINGAPORE | 3.2 % |
 |
LUXEMBOURG | 3.1 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 4.8% | 23.6% | 27.6% | 9.2% | 14.1% | -- | -- | 13.9% |
| Dividend Yield | -8.9% | -13.3% | -8.6% | -4.1% | 2.1% | -- | -- | -1.2% |
| Total Returns | -4.1% | 10.3% | 19.1% | 5.1% | 16.2% | -- | -- | 12.7% | Ann. Volatility | 16.0% | 15.5% | 16.6% | 23.5% | 26.2% | -- | -- | 22.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.32 | 86% |
| MSCI EAFE | 1.12 | 61% |
| MSCI Emg Mkts | 0.93 | 42% |
Liquidity Measures
| Avg. volume (000) | 10 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.30% |
| ADV of underlying (mns) | $38,788 |
Technical Indicators
| Recent close | $43.00 |
| 30d moving avg. | $42.37 |
| Annualized volatility | 24.9% |
| Relative strength (RSI) | 43 |
| Short interest (ETF) | 0.3% |
| 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 |
|---|---|---|---|---|
| PNQI | Invesco NASDAQ Internet ETF | 33.3% | +10 bp | 0.0% |
| IYC | iShares U.S. Consumer Discretionary ETF | 32.9% | -10 bp | +0.5% |
| ISHP | First Trust Nasdaq Retail ETF | 30.7% | +10 bp | +2.1% |
| IBUY | Amplify Online Retail ETF | 29.8% | +15 bp | +0.0% |
| BUYZ | Franklin Disruptive Commerce ETF | 29.2% | 0 bp | -1.1% |
| IEDI | iShares U.S. Consumer Focused ETF | 26.8% | -32 bp | +1.8% |
| LGRO | Level Four Large Cap Growth Active ETF | 26.4% | +5 bp | +0.7% |
| QGRO | American Century U.S. Quality Growth ETF | 26.4% | -21 bp | +0.2% |
| FDN | First Trust Dow Jones Internet Index Fund | 26.3% | +2 bp | -0.2% |
| FDND | FT Vest Dow Jones Internet & Target Income ETF | 26.3% | +25 bp | -0.4% |
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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| 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
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 4/25/2025
Peer Group Comparison Sample data. Subscribe for access.
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 Rating
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.
ALTAR Score™
MILN
3.7%
Cat. Avg
6.5%
ALTAR Score™ Calculation
Category Overview
There are 953 funds in the US Equity category, with an average ALTAR Score™
of 6.5% and a standard deviation of
2.7%. MILN's ALTAR Score™ is approximately
1.1 standard deviations
below
the category average. This places MILN in the 14th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
MILNSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| MILN (50 bp) Percentile rank | 55 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MILN | 50.0 | 29.8 | 79.8 |
| Peer Avg. | 36.6 | 15.2 | 51.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .