ETF Evaluator: Global X Millennials Consumer ETF () Follow This ETF

Global X Millennials Consumer ETF Overview

Global X Millennials Consumer ETF (MILN) is a passively managed U.S. Equity Large Growth exchange-traded fund (ETF). Global X Funds launched the ETF in 2016.

The investment seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Millennials Thematic Index. The fund invests more than 80% of its total assets in the securities of the underlying index. The underlying index is designed to measure the performance of U.S. listed companies that provide exposure to the millennial generation consumption trends, (collectively, "Millennial Companies"), as defined by the index provider. The millennial generation refers to the demographic in the U.S. with birth years ranging from 1980 to 2000.

About Global X Millennials Consumer ETF (MILN)

There are 2 members of the management team with an average tenure of 7.92 years: Nam To (2018) and Wayne Xie (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Indxx Millennials Thematic TR USD index with a weighting of 100%. Global X Millennials Consumer ETF has 82 securities in its portfolio. The top 10 holdings constitute 32.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Global X Millennials Consumer ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Global X Millennials Consumer ETF has 3.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.4% There is 3.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Global X Millennials Consumer ETF has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $99 million in total assets, which is below the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

MILN Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Global X Millennials Consumer ETF expense ratio is average compared to funds in the Large Growth category. Global X Millennials Consumer ETF has an expense ratio of 0.50%, which is 1% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Global X Millennials Consumer ETF has a portfolio turnover rate of 11%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.

Recently, in the month of July 2026, Global X Millennials Consumer ETF returned 3.5%, which earned it a grade of A, as the Large Growth category had an average return of -3.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Global X Millennials Consumer ETF has a trailing yield of 0.31%, which is below the 0.53% category average. The fund normally distributes its income semi-annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Global X Millennials Consumer ETF Grades

Year to date, the ETF has returned -4.1%, 10.3 percentage points worse than the category, which translates into a grade of F. The fund has returned -6.9% over the past year (grade of F), 10.2% over the past three years (grade of F) and 0.8% per year over the past five years (grade of F) and 11.3% per year over the past 10 years (grade of F).

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