Are you a millennial investor? Or are you just looking for a way to tap into some of the hottest growth opportunities out there today? The Global X Millennial Consumer ETF (NASDAQ:MILN) is designed for just that. The fund’s focus is on business “that have a high likelihood of benefiting from the rising spending power and unique preferences of the U.S. millennial generation” It covers a variety of sectors ranging from entertainment to food to health, and several others.
The bulk of its holdings are in the consumer discretionary sector (38% net weight) with another 30% being in communications and 19% belonging to information technology. In total, there are 84 stocks in the exchange-traded fund (ETF). The largest holding is software company Intuit (NASDAQ:INTU), which accounts for just under 3.9% of the total net assets. Other notable names include Costco Wholesale (NASDAQ:COST) at 3.7%, and Alphabet (NASDAQ:GOOG) is also among the top holdings at 3.6%.
The fund has been around since 2016 and its total expense ratio of 0.5% is modest compared to other ETFs. Over the past 12 months, the fund has outperformed the S&P 500, generating returns of 37% while the broader index has risen by 30%.
With a good mix of stocks in the fund, investors can gain a lot of diversification from investing in the Millennial Consumer ETF.
It is more focused than a total market index and it should be in a good position to benefit from the latest trends and growth opportunities in the U.S. market.