MILN

Millennial Consumer ETF

Reasons to Consider MILN

High Growth Potential

Millennials have become the largest generation in the U.S., making up over 45% of the workforce.¹ With most of their prime earning years ahead, companies catering to Millennials could see large growth.

Invest in U.S. Consumers

The U.S. economy is consumer-driven, with private consumption accounting for more than two-thirds of nominal GDP.²

Unconstrained Approach

The most innovative U.S. companies often defy sector categorization. MILN invests accordingly across a wide range of consumer-driven businesses.

¹Axios, 2023
²CEIC Data, 2023

Key Information As of 03/05/25

Inception Date	05/04/16
Total Expense Ratio	0.50%
Net Assets	$123.32 million
NAV	$46.53
Fact Sheet	View the document

ETF Summary

The Global X Millennial Consumer ETF (MILN) seeks to invest in companies that have a high likelihood of benefiting from the rising spending power and unique preferences of the U.S. Millennial generation (birth years ranging from 1980-2000). These companies come from a broad range of categories, including: social media and entertainment, food and dining, clothing and apparel, health and fitness, travel and mobility, education and employment, housing and home goods, and financial services.

ETF Objective

The Global X Millennial Consumer ETF (MILN) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Indxx Millennials Thematic Index.

Trading Details As of 03/05/25

Ticker	MILN
Bloomberg Index Ticker	IMILN
CUSIP	37954Y764
ISIN	US37954Y7647
Primary Exchange	Nasdaq
Shares Outstanding	2,650,000
Number of Holdings	77
30-Day Median Bid-Ask Spread	0.32%

Distributions As of 03/05/25

30-Day SEC Yield	0.23%
Distribution Frequency	Semi-Annually

ETF Prices As of 03/05/25

NAV	$46.53	Daily Change	$0.67	1.46%
Market Price	$46.58	Daily Change	$0.75	1.64%

As of recent (12/31/24) As of recent (12/31/24)	Fund NAV	Market Price	Index
1 Year	27.10%	27.12%	27.74%
3 Years	2.11%	2.16%	2.58%
5 Years	11.97%	11.95%	12.53%
Since Inception	13.98%	13.93%	14.52%
1 Year	23.62%	23.91%	24.24%
3 Years	9.53%	9.48%	10.05%
5 Years	14.43%	14.36%	15.00%
Since Inception	14.31%	14.26%	14.85%
Year-to-Date	27.10%	27.12%	27.74%
1 Month	-4.04%	-4.10%	-4.02%
3 Months	7.40%	7.45%	7.52%
Since Inception	210.80%	209.62%	223.72%
Year-to-Date	4.80%	4.76%	4.90%
1 Month	-1.63%	-1.55%	-1.58%
3 Months	0.57%	0.47%	0.68%
Since Inception	225.72%	224.36%	239.58%

Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

Net Assets (%)	Ticker	Name	SEDOL	Market Price ($)	Shares Held	Market Value ($)
5.09	SE	SEA LTD-ADR	BYWD7L4	146.31	43,183	6,318,104.73
4.80	SPOT	SPOTIFY TECHNOLOGY SA	BFZ1K46	586.83	10,169	5,967,474.27
3.92	NFLX	NETFLIX INC	2857817	990.92	4,911	4,866,408.12
3.66	FI	FISERV INC	2342034	225.96	20,100	4,541,796.00
3.56	COST	COSTCO WHOLESALE CORP	2701271	1,047.75	4,218	4,419,409.50
3.44	DASH	DOORDASH INC - A	BN13P03	195.08	21,901	4,272,447.08
3.36	BKNG	BOOKING HOLDINGS INC	BDRXDB4	4,917.46	849	4,174,923.54
3.35	AAPL	APPLE INC	2046251	235.74	17,636	4,157,510.64
3.23	SBUX	STARBUCKS CORP	2842255	111.69	35,935	4,013,580.15
3.12	META	META PLATFORMS INC	B7TL820	656.47	5,901	3,873,829.47
2.76	HD	HOME DEPOT INC	2434209	386.35	8,888	3,433,878.80
2.74	AMZN	AMAZON.COM INC	2000019	208.36	16,329	3,402,310.44
2.70	GOOGL	ALPHABET INC-CL A	BYVY8G0	173.02	19,363	3,350,186.26
2.62	PYPL	PAYPAL HOLDINGS INC	BYW36M8	69.50	46,913	3,260,453.50
2.56	LOW	LOWE'S COS INC	2536763	242.96	13,112	3,185,691.52
2.50	UBER	UBER TECHNOLOGIES INC	BK6N347	76.48	40,575	3,103,176.00
2.48	LULU	LULULEMON ATHLETICA INC	B23FN39	349.53	8,822	3,083,553.66
2.45	INTU	INTUIT INC	2459020	617.51	4,919	3,037,531.69
2.32	DIS	WALT DISNEY CO/THE	2270726	109.31	26,349	2,880,209.19
2.30	EBAY	EBAY INC	2293819	66.55	42,915	2,855,993.25
2.23	CMG	CHIPOTLE MEXICAN	B0X7DZ3	53.60	51,610	2,766,296.00
2.14	ABNB	AIRBNB INC-CLASS A	BMGYYH4	142.58	18,686	2,664,249.88
2.13	AVB	AVALONBAY COMMUNITIES INC	2131179	224.47	11,767	2,641,338.49
2.10	NKE	NIKE INC -CL B	2640147	77.81	33,595	2,614,026.95
1.90	XYZ	BLOCK INC	BYNZGK1	61.12	38,559	2,356,726.08
1.86	EQR	EQUITY RESIDENTIAL	2319157	73.67	31,422	2,314,858.74
1.68	CVNA	CARVANA CO	BYQHPG3	215.89	9,648	2,082,906.72
1.66	EXPE	EXPEDIA GROUP INC	B748CK2	190.59	10,806	2,059,515.54
1.39	INVH	INVITATION HOMES INC	BD81GW9	34.07	50,666	1,726,190.62
0.99	UDR	UDR INC	2727910	45.18	27,241	1,230,748.38
0.98	SFM	SPROUTS FARMERS	BCGCR79	144.71	8,375	1,211,946.25
0.91	SNAP	SNAP INC - A	BD8DJ71	9.79	115,563	1,131,361.77
0.89	CPT	CAMDEN PROPERTY TRUST	2166320	124.42	8,854	1,101,614.68
0.87	SOFI	SOFI TECHNOLOGIES INC	BM8J4C2	13.43	80,679	1,083,518.97
0.85	DKS	DICK'S SPORTING GOODS INC	2969637	216.59	4,876	1,056,092.84
0.83	KMX	CARMAX INC	2983563	79.10	13,061	1,033,125.10
0.69	HIMS	HIMS & HERS HEALTH INC	BN46048	40.89	21,095	862,574.55
0.68	CART	MAPLEBEAR INC	BN4L6W3	38.59	22,020	849,751.80
0.61	VFC	VF CORP	2928683	23.45	32,044	751,431.80
0.58	LRN	STRIDE INC	BLD5321	140.86	5,116	720,639.76
0.56	MTCH	MATCH GROUP INC	BK80XH9	31.52	22,153	698,151.80
0.56	PLNT	PLANET FITNESS INC - CL A	BYSFJV8	96.54	7,185	693,639.90
0.55	LTH	LIFE TIME GROUP	BPH0546	32.19	21,064	678,050.16
0.53	SKX	SKECHERS USA INC-CL A	2428042	59.34	11,009	653,274.06
0.48	AN	AUTONATION INC	2732635	174.35	3,439	599,589.65
0.46	PTON	PELOTON INTERACTIVE INC-A	BJ7WJS2	6.89	82,323	567,205.47
0.43	SLM	SLM CORP	2101967	29.27	18,180	532,128.60
0.42	ZG	ZILLOW GROUP INC - A	BVYJBR3	75.15	6,904	518,835.60
0.39	ETSY	ETSY INC	BWTN5N1	50.00	9,783	489,150.00
0.38	VMEO	VIMEO INC	BNDYF15	5.69	82,856	471,450.64
0.36	PRDO	PERDOCEO EDUCATION CORP	BKRQQR9	25.66	17,513	449,383.58
0.36	LC	LENDINGCLUB CORP	BK95GR4	11.85	37,326	442,313.10
0.35	CARG	CARGURUS INC	BF5D6S8	32.46	13,377	434,217.42
0.33	COLM	COLUMBIA SPORTSWEAR CO	2229126	84.36	4,924	415,388.64
0.33	LAUR	LAUREATE EDUCATION INC	BYMYT66	19.83	20,892	414,288.36
0.33	IRT	INDEPENDENCE REA	BCRYTK1	21.44	18,846	404,058.24
0.32	LYFT	LYFT INC-A	BJT1RW7	12.36	32,286	399,054.96
0.32	GHC	GRAHAM HOLDING-B	BGM1B98	954.19	414	395,034.66
0.31	NNI	NELNET INC-CL A	2196190	119.50	3,261	389,689.50
0.29	VSCO	VICTORIA'S SECRET & CO	BNNTGH3	22.21	16,232	360,512.72
0.26	CSR	CENTERSPACE	BN47P80	64.75	5,022	325,174.50
0.26	UAA	UNDER ARMOUR INC-CLASS A	B0PZN11	6.95	46,194	321,048.30
0.22	XPOF	XPONENTIAL FITNESS INC-A	BP0TJN7	13.22	20,593	272,239.46
0.22	W	WAYFAIR INC- CLASS A	BQXZP64	34.25	7,837	268,417.25
0.21	YELP	YELP INC	B7KCD72	33.68	7,638	257,247.84
0.20	STRA	STRATEGIC EDUCATION INC	BGGJFV8	82.29	3,029	249,256.41
0.20	ACCD	ACCOLADE INC	BMB3JJ3	6.97	35,353	246,410.41
0.19	ANGI	ANGI INC	BF4VWH4	1.62	142,555	230,939.10
0.18	CAR	AVIS BUDGET GROUP INC	B1CL8J2	76.61	2,908	222,781.88
0.18	CARS	CARS.COM INC	BYXHTC0	11.95	18,218	217,705.10
0.17	CPRI	CAPRI HOLDINGS LTD	BJ1N1M9	22.22	9,577	212,800.94
0.14	COUR	COURSERA INC	BNSNZL7	7.70	23,298	179,394.60
0.14	CRI	CARTER'S INC	2980939	41.10	4,092	168,181.20
0.13	TRIP	TRIPADVISOR INC	B6ZC3N6	13.69	11,341	155,258.29
0.12		CASH		1.00	154,286	154,286.43
0.12	ZIP	ZIPRECRUITER INC-A	BMGH6N3	5.63	27,026	152,156.38
0.12	DBI	DESIGNER BRAND-A	BJ9J282	4.12	35,342	145,609.04
0.03	CHGG	CHEGG INC	BG6N6K6	0.95	41,157	39,099.15
-0.03		OTHER PAYABLE & RECEIVABLES		1.00	-34,644	-34,643.53

Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 02/28/25

	Sector	Weight (%)
	Consumer Discretionary	41.7
	Communication Services	23.9
	Financials	9.2
	Real Estate	8.2
	Information Technology	8.2
	Consumer Staples	4.5
	Industrials	3.3
	Health Care	1.0

Source: new windowAltaVista Research, LLC

	Industry	Weight (%)
	Media & Entertainment	23.9
	Consumer Services	18.5
	Consumer Discretionary Distribution & Retail	15.5
	Financial Services	8.5
	Equity Real Estate Investment Trusts (REITs)	7.8
	Consumer Durables & Apparel	7.7
	Software & Services	4.8
	Consumer Staples Distribution & Retail	4.5
	Technology Hardware & Equipment	3.4
	Transportation	3.0
	Health Care Equipment & Services	1.0
	Other	1.4

Source: new windowAltaVista Research, LLC

All Sector, Industry and Geographic breakdowns, where provided, are based on equity positions held by the ETF and exclude cash, currencies, and other holdings.

ETF Characteristics As of 03/05/25

Return on Equity	19.90%
Weighted Avg. Market Cap	407,004 M
	2024	2025
Price-to-earnings	29.55	24.99
Price-to-book value	5.39	4.61

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 02/28/25

Versus	Beta
S&P 500	1.31
NASDAQ-100	1.00
MSCI EAFE	1.12
MSCI Emg. Mkts	0.93
Standard Deviation	24.30%

Source: new windowAltaVista Research, LLC

ETF Documents

Latest Premium / Discount As of 03/05/25

NAV	$46.53
Market Price	$46.58
Premium / (Discount)	$0.05

Current View 2025 Q1 As of 03/05/25

Days at Premium	19
Days at NAV	0
Days at Discount	23
Greatest Premium	0.20%
Greatest Discount	-0.18%

Daily Premium / Discount History As of 03/05/25

Hover over the chart points for details

View Chart Explanation

Download Chart Data (.CSV)

How can the Fund trade at a premium/discount to its NAV?

The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

What causes these time discrepancies?

Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.

Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.

International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.

Investing involves risk, including the possible loss of principal. The investable universe of companies in which MILN may invest may be limited. The Fund invests in securities of companies engaged in Information Technology which can be affected by rapid product obsolescence and intense industry competition. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. MILN is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Beginning October 15, 2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Indxx, nor does Indxx make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with Indxx.

MILN

Millennial Consumer ETF

Reasons to Consider MILN

High Growth Potential

Invest in U.S. Consumers

Unconstrained Approach

Key Information As of 03/05/25

ETF Summary

ETF Objective

Trading Details As of 03/05/25

Distributions As of 03/05/25

ETF Prices As of 03/05/25

Performance History

Top Holdings As of 03/05/25

Exposure As of 02/28/25

ETF Characteristics As of 03/05/25

ETF Risk Stats As of 02/28/25

ETF Documents