FMIL
Fidelity New Millennium ETF
FMIL is an actively-managed, non-transparent ETF that provides exposure to fundamentally-selected global companies potentially benefiting from long-term changes in the marketplace.
Global
EQUITY
Active
MANAGEMENT STYLE
352.0 M
ASSETS UNDER MGMT
59 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 03, 2020 |
| Assets (mns) | $352 |
| Expense ratio | 59 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Non-transparent |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MICROSOFT CORP | 7.7 % |
| NVIDIA CORP | 6.8 % |
| META PLATFORMS INC | 4.2 % |
| APPLE INC | 3.9 % |
| EXXON MOBIL CORP | 3.1 % |
| ALPHABET INC. CLASS A | 3.0 % |
| AMAZON.COM INC | 3.0 % |
| BANK OF AMERICA CORP | 2.5 % |
| WELLS FARGO & CO | 2.1 % |
| JPMORGAN CHASE & CO | 2.0 % |
Constituent Breakdown
| Number of holdings | 104 |
| Herfindahl-Hirschman Index | 235 |
| Wgt avg mkt cap (mns) | $760,696 |
| Large cap (>$10bn) | 97.1% |
| Mid cap ($2-10bn) | 2.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 98.7% |
| Emerging mkts. | 1.3% |
Country Exposure
 |
UNITED STATES | 88.4 % |
 |
SWITZERLAND | 1.3 % |
 |
GERMANY | 1.1 % |
 |
IRELAND | 1.0 % |
 |
TAIWAN | 1.0 % |
 |
CANADA | 0.6 % |
 |
NETHERLANDS | 0.5 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -- | -- | -- | -- | -- | -- | -- | Volatility | 15.8% | 15.7% | 19.6% | 19.2% | 18.5% | 18.5% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.92 | 86% |
| MSCI EAFE | 0.87 | 75% |
| MSCI Emg Mkts | 0.62 | 38% |
Liquidity Measures
| Avg. volume (000) | 62 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $148,129 |
Technical Indicators
| Recent close | $46.31 |
| 30d moving avg. | $34.42 |
| Annualized volatility | 18.9% |
| Relative strength (RSI) | 79 |
| Short interest (ETF) | 0.4% |
| Short interest (underlying) | 0.0% |
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. FMIL |
Expenses vs. FMIL |
ALTAR Score™ vs. FMIL |
|---|---|---|---|---|
| FFLC | Fidelity Fundamental Large Cap Core ETF | 87.6% | -21 bp | +0.1% |
| MGC | Vanguard Mega Cap ETF | 46.6% | -52 bp | +0.1% |
| IWL | iShares Russell Top 200 ETF | 46.1% | -44 bp | +0.0% |
| OEF | iShares S&P 100 ETF | 45.7% | -39 bp | +0.1% |
| XLG | Invesco S&P 500 Top 50 ETF | 44.6% | -39 bp | -0.2% |
| GSPY | Gotham Enhanced 500 ETF | 43.5% | -9 bp | +0.5% |
| XVV | iShares ESG Screened S&P 500 ETF | 43.2% | -51 bp | +0.2% |
| USCA | Xtrackers MSCI USA Climate Action Equity ETF | 43.2% | -52 bp | +0.3% |
| USCL | iShares Climate Conscious & Transition MSCI USA ETF | 43.1% | -51 bp | +0.2% |
| SPXE | ProShares S&P 500 Ex-Energy ETF | 43.1% | -50 bp | +0.2% |
Risk and Returns: FMIL 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 10/11/2024
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
FMIL
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
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
FMIL
4.7%
Cat. Avg
4.2%
ALTAR Score™ Calculation
Category Overview
There are 375 funds in the Global Equity category, with an average ALTAR Score™
of 4.2% and a standard deviation of
4.6%. FMIL's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places FMIL in the 54th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FMILSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| FMIL (59 bp) Percentile rank | 33 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FMIL | 59.0 | 14.6 | 73.6 |
| Peer Avg. | 51.8 | 32.7 | 84.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .