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 05/05/25

Inception Date	05/04/16
Total Expense Ratio	0.50%
Net Assets	$113.71 million
NAV	$44.25
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 05/05/25

Ticker	MILN
Bloomberg Index Ticker	IMILN
CUSIP	37954Y764
ISIN	US37954Y7647
Primary Exchange	Nasdaq
Shares Outstanding	2,570,000
Number of Holdings	80
30-Day Median Bid-Ask Spread	0.34%

Distributions As of 05/05/25

30-Day SEC Yield	0.35%
Distribution Frequency	Semi-Annually

ETF Prices As of 05/05/25

NAV	$44.25	Daily Change	-$0.16	-0.36%
Market Price	$44.22	Daily Change	-$0.12	-0.27%

As of recent (03/31/25) As of recent (03/31/25)	Fund NAV	Market Price	Index
1 Year	10.58%	10.51%	11.14%
3 Years	6.15%	6.15%	6.63%
5 Years	16.86%	16.84%	17.45%
Since Inception	13.04%	12.99%	13.57%
1 Year	15.84%	15.73%	16.39%
3 Years	11.10%	11.01%	11.62%
5 Years	13.15%	13.08%	13.69%
Since Inception	12.94%	12.87%	13.47%
Year-to-Date	-4.07%	-4.11%	-3.96%
1 Month	-8.46%	-8.47%	-8.45%
3 Months	-4.07%	-4.11%	-3.96%
Since Inception	198.15%	196.88%	210.90%
Year-to-Date	-3.85%	-4.00%	-3.71%
1 Month	0.23%	0.12%	0.26%
3 Months	-9.75%	-9.78%	-9.67%
Since Inception	198.84%	197.23%	211.70%

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 ($)	Shares Held	Market Value ($)
3.49	SE	SEA LTD-ADR	BYWD7L4	142.50	27,829	3,965,632.50
3.39	UBER	UBER TECHNOLOGIES INC	BK6N347	85.43	45,146	3,856,822.78
3.37	NFLX	NETFLIX INC	2857817	1,134.06	3,376	3,828,586.56
3.21	BKNG	BOOKING HOLDINGS INC	BDRXDB4	5,191.12	704	3,654,548.48
3.20	DASH	DOORDASH INC - A	BN13P03	205.40	17,724	3,640,509.60
3.18	SPOT	SPOTIFY TECHNOLOGY SA	BFZ1K46	637.65	5,668	3,614,200.20
3.08	PYPL	PAYPAL HOLDINGS INC	BYW36M8	68.54	51,171	3,507,260.34
3.05	ABNB	AIRBNB INC-CLASS A	BMGYYH4	124.89	27,796	3,471,442.44
3.03	META	META PLATFORMS INC	B7TL820	599.27	5,757	3,449,997.39
3.00	INTU	INTUIT INC	2459020	632.18	5,400	3,413,772.00
2.98	AAPL	APPLE INC	2046251	198.89	17,040	3,389,085.60
2.93	GOOGL	ALPHABET INC-CL A	BYVY8G0	164.21	20,302	3,333,791.42
2.91	DIS	WALT DISNEY CO/THE	2270726	92.11	35,947	3,311,078.17
2.88	COST	COSTCO WHOLESALE CORP	2701271	1,014.89	3,230	3,278,094.70
2.82	AMZN	AMAZON.COM INC	2000019	186.35	17,213	3,207,642.55
2.81	CMG	CHIPOTLE MEXICAN	B0X7DZ3	50.01	63,888	3,195,038.88
2.79	HD	HOME DEPOT INC	2434209	361.73	8,763	3,169,839.99
2.78	NKE	NIKE INC -CL B	2640147	57.35	55,144	3,162,508.40
2.75	LOW	LOWE'S COS INC	2536763	225.19	13,877	3,124,961.63
2.65	SBUX	STARBUCKS CORP	2842255	81.66	36,866	3,010,477.56
2.45	FI	FISERV INC	2342034	185.50	15,022	2,786,581.00
2.27	CVNA	CARVANA CO	BYQHPG3	259.57	9,954	2,583,759.78
2.14	EBAY	EBAY INC	2293819	70.31	34,538	2,428,366.78
2.10	LULU	LULULEMON ATHLETICA INC	B23FN39	278.55	8,563	2,385,223.65
1.95	AVB	AVALONBAY COMMUNITIES INC	2131179	210.02	10,551	2,215,921.02
1.75	EQR	EQUITY RESIDENTIAL	2319157	70.83	28,140	1,993,156.20
1.70	XYZ	BLOCK INC	BYNZGK1	46.64	41,462	1,933,787.68
1.40	INVH	INVITATION HOMES INC	BD81GW9	34.99	45,408	1,588,825.92
1.33	EXPE	EXPEDIA GROUP INC	B748CK2	165.62	9,135	1,512,938.70
1.27	WSM	WILLIAMS-SONOMA INC	2967589	158.39	9,148	1,448,951.72
1.10	SFM	SPROUTS FARMERS	BCGCR79	172.71	7,264	1,254,565.44
0.93	UDR	UDR INC	2727910	43.03	24,531	1,055,568.93
0.92	SOFI	SOFI TECHNOLOGIES INC	BM8J4C2	12.86	81,199	1,044,219.14
0.83	CPT	CAMDEN PROPERTY TRUST	2166320	119.21	7,904	942,235.84
0.81	CART	MAPLEBEAR INC	BN4L6W3	47.09	19,596	922,775.64
0.80	SNAP	SNAP INC - A	BD8DJ71	8.55	106,784	913,003.20
0.70	DKS	DICK'S SPORTING GOODS INC	2969637	189.77	4,168	790,961.36
0.66	KMX	CARMAX INC	2983563	66.29	11,388	754,910.52
0.58	HIMS	HIMS & HERS HEALTH INC	BN46048	41.88	15,808	662,039.04
0.57	CELH	CELSIUS HOLDINGS INC	B19HX21	33.89	19,080	646,621.20
0.54	PLNT	PLANET FITNESS INC - CL A	BYSFJV8	98.41	6,220	612,110.20
0.52	SKX	SKECHERS USA INC-CL A	2428042	61.39	9,620	590,571.80
0.49	MTCH	MATCH GROUP INC	BK80XH9	30.30	18,529	561,428.70
0.46	LRN	STRIDE INC	BLD5321	160.72	3,218	517,196.96
0.45	AN	AUTONATION INC	2732635	175.84	2,905	510,815.20
0.45	LTH	LIFE TIME GROUP	BPH0546	32.83	15,508	509,127.64
0.43	SLM	SLM CORP	2101967	31.47	15,556	489,547.32
0.40	CAR	AVIS BUDGET GROUP INC	B1CL8J2	96.30	4,659	448,661.70
0.36	COUR	COURSERA INC	BNSNZL7	8.60	47,458	408,138.80
0.36	PTON	PELOTON INTERACTIVE INC-A	BJ7WJS2	6.89	58,560	403,478.40
0.35	LYFT	LYFT INC-A	BJT1RW7	13.20	30,251	399,313.20
0.35	GRND	GRINDR INC	BP4XXM2	22.84	17,301	395,154.84
0.33	VFC	VF CORP	2928683	12.57	30,062	377,879.34
0.33	W	WAYFAIR INC- CLASS A	BQXZP64	30.92	12,130	375,059.60
0.32	URBN	URBAN OUTFITTERS INC	2933438	53.70	6,844	367,522.80
0.32	CURV	TORRID HOLDINGS INC	BMBR9W8	5.69	63,797	363,004.93
0.32	LAUR	LAUREATE EDUCATION INC	BYMYT66	22.65	15,963	361,561.95
0.32	CPRI	CAPRI HOLDINGS LTD	BJ1N1M9	15.41	23,457	361,472.37
0.32	PRDO	PERDOCEO EDUCATION CORP	BKRQQR9	30.84	11,716	361,321.44
0.31	ETSY	ETSY INC	BWTN5N1	45.08	7,911	356,627.88
0.31	LC	LENDINGCLUB CORP	BK95GR4	10.30	34,200	352,260.00
0.31	UAA	UNDER ARMOUR INC-CLASS A	B0PZN11	5.90	59,276	349,728.40
0.31	TRIP	TRIPADVISOR INC	B6ZC3N6	12.73	27,440	349,311.20
0.30	NGVC	NATURAL GROCERS	B82C9Z7	49.76	6,767	336,725.92
0.30	VSCO	VICTORIA'S SECRET & CO	BNNTGH3	19.26	17,405	335,220.30
0.29	IRT	INDEPENDENCE REA	BCRYTK1	19.49	17,071	332,713.79
0.29	ZG	ZILLOW GROUP INC - A	BVYJBR3	66.98	4,901	328,268.98
0.29	STRA	STRATEGIC EDUCATION INC	BGGJFV8	86.09	3,796	326,797.64
0.29	CARG	CARGURUS INC	BF5D6S8	28.01	11,624	325,588.24
0.29	VMEO	VIMEO INC	BNDYF15	5.15	63,216	325,562.40
0.28	CARS	CARS.COM INC	BYXHTC0	11.74	27,101	318,165.74
0.28	CSR	CENTERSPACE	BN47P80	61.05	5,209	318,009.45
0.28	ZIP	ZIPRECRUITER INC-A	BMGH6N3	5.46	57,744	315,282.24
0.28	GHC	GRAHAM HOLDING-B	BGM1B98	941.54	333	313,532.82
0.28	YELP	YELP INC	B7KCD72	35.03	8,912	312,187.36
0.27	NNI	NELNET INC-CL A	2196190	106.80	2,891	308,758.80
0.27	CRI	CARTER'S INC	2980939	33.84	8,897	301,074.48
0.26	COLM	COLUMBIA SPORTSWEAR CO	2229126	62.14	4,800	298,272.00
0.26	SG	SWEETGREEN INC - CLASS A	BMQ89L5	19.54	15,048	294,037.92
0.24	ANGI	ANGI INC	BT9P0M0	11.20	24,453	273,873.60
0.09		CASH		1.00	98,682	98,681.74
-0.02		OTHER PAYABLE & RECEIVABLES		1.00	-22,319	-22,319.08

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

Exposure As of 04/30/25

	Sector	Weight (%)
	Consumer Discretionary	44.0
	Communication Services	21.9
	Information Technology	8.4
	Financials	8.1
	Real Estate	7.8
	Consumer Staples	4.9
	Industrials	4.4
	Health Care	0.6

Source: new windowAltaVista Research, LLC

	Industry	Weight (%)
	Media & Entertainment	21.9
	Consumer Services	18.9
	Consumer Discretionary Distribution & Retail	17.5
	Consumer Durables & Apparel	7.6
	Equity Real Estate Investment Trusts (REITs)	7.5
	Financial Services	7.4
	Software & Services	5.3
	Consumer Staples Distribution & Retail	4.3
	Transportation	4.1
	Technology Hardware & Equipment	3.1
	Consumer Staples Distribution	0.8
	Other	1.6

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 05/05/25

Return on Equity	18.30%
Weighted Avg. Market Cap	348,057 M
	2024	2025
Price-to-earnings	27.13	23.77
Price-to-book value	4.72	4.04

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 04/30/25

Versus	Beta
S&P 500	1.31
NASDAQ-100	1.02
MSCI EAFE	1.05
MSCI Emg. Mkts	0.87
Standard Deviation	23.60%

Source: new windowAltaVista Research, LLC

ETF Documents

Latest Premium / Discount As of 05/05/25

NAV	$44.25
Market Price	$44.22
Premium / (Discount)	($0.03)

Current View 2025 Q2 As of 05/05/25

Days at Premium	7
Days at NAV	0
Days at Discount	17
Greatest Premium	0.13%
Greatest Discount	-0.69%

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

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 05/05/25

ETF Summary

ETF Objective

Trading Details As of 05/05/25

Distributions As of 05/05/25

ETF Prices As of 05/05/25

Performance History

Top Holdings As of 05/05/25

Exposure As of 04/30/25

ETF Characteristics As of 05/05/25

ETF Risk Stats As of 04/30/25

ETF Documents