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
129.5 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) | $129 |
| 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 +
| SPOTIFY TECHNOLOGY SA | 3.9 % |
| SEA LTD. (SINGAPORE) SPONSORED ADR CLASS | 3.7 % |
| FISERV, INC. | 3.5 % |
| BOOKING HOLDINGS INC. | 3.5 % |
| NETFLIX INC | 3.4 % |
| PAYPAL HOLDINGS INC | 3.4 % |
| APPLE INC | 3.3 % |
| COSTCO WHOLESALE CORP | 3.2 % |
| DOORDASH, INC. CLASS A | 3.1 % |
| HOME DEPOT INC | 3.0 % |
Constituent Breakdown
| Number of holdings | 77 |
| Herfindahl-Hirschman Index | 239 |
| Wgt avg mkt cap (mns) | $399,040 |
| Large cap (>$10bn) | 86.6% |
| Mid cap ($2-10bn) | 9.6% |
| Small cap (<$2bn) | 3.9% |
| Developed mkts. | 96.4% |
| Emerging mkts. | 3.6% |
Country Exposure
 |
UNITED STATES | 92.1 % |
 |
LUXEMBOURG | 3.9 % |
 |
SINGAPORE | 3.7 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 16.8% | 42.5% | 24.7% | -2.3% | 11.0% | -- | 13.2% | Volatility | 15.9% | 16.0% | 19.1% | 24.4% | 26.2% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.29 | 84% |
| MSCI EAFE | 1.14 | 68% |
| MSCI Emg Mkts | 0.99 | 50% |
Liquidity Measures
| Avg. volume (000) | 7 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.30% |
| ADV of underlying (mns) | $59,166 |
Technical Indicators
| Recent close | $45.92 |
| 30d moving avg. | $42.23 |
| Annualized volatility | 24.4% |
| Relative strength (RSI) | 59 |
| Short interest (ETF) | 0.0% |
| 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 | 33.9% | +10 bp | -0.3% |
| IYC | iShares U.S. Consumer Discretionary ETF | 32.4% | -10 bp | +0.8% |
| IBUY | Amplify Online Retail ETF | 28.5% | +15 bp | -1.2% |
| ISHP | First Trust Nasdaq Retail ETF | 28.3% | +10 bp | +0.3% |
| IEDI | iShares U.S. Consumer Focused ETF | 27.1% | -32 bp | +2.5% |
| LGRO | Level Four Large Cap Growth Active ETF | 26.6% | +5 bp | +1.7% |
| FDN | First Trust Dow Jones Internet Index Fund | 26.3% | +2 bp | +0.6% |
| FDND | FT Vest Dow Jones Internet & Target Income ETF | 26.3% | +25 bp | +0.4% |
| BUYZ | Franklin Disruptive Commerce ETF | 25.3% | 0 bp | -0.7% |
| XNTK | SPDR NYSE Technology ETF | 24.8% | -15 bp | +1.6% |
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
| 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 11/21/2024
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
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
2.6%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.4%. MILN's ALTAR Score™ is approximately
1.2 standard deviations
below
the category average. This places MILN in the 12nd 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. | 35.7 | 15.0 | 50.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .