Fidelity New Millennium ETF (FMIL) belongs to the Large Cap Blend Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with FMIL. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FMIL
FMIL charges 0.59% annually. There are 168 ETFs in the Large Cap Blend Equities category with lower expense ratios, going as low as 0.02%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Global X U.S. 500 ETF | 0.02% | 4.50M | Sep 2025 | FMIL vs GXLC | |
| JPMorgan BetaBuilders U.S. Equity ETF | 0.02% | 8.89B | Mar 2019 | FMIL vs BBUS | |
| Franklin U.S. Equity Index ETF | 0.03% | 2.00B | Jun 2016 | FMIL vs USPX | |
| Schwab U.S. Large-Cap ETF | 0.03% | 71.82B | Nov 2009 | FMIL vs SCHX | |
| SPDR Portfolio S&P 1500 Composite Stock Market ETF | 0.03% | 13.48B | Oct 2000 | FMIL vs SPTM |
Best Risk-Adjusted Alternatives to FMIL
FMIL has a PortfoliosLab risk / return rank of 68. There are 111 ETFs in the Large Cap Blend Equities category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Invesco RAFI Strategic US ETF | 96 | 927.09M | Sep 2018 | FMIL vs IUS | |
| Avantis Inflation Focused Equity ETF | 96 | 12.36M | Sep 2022 | FMIL vs AVIE | |
| ARS Focused Opportunities Strategy ETF | 94 | 293.98M | Jun 2025 | FMIL vs AFOS | |
| PIMCO RAFI ESG U.S. ETF | 94 | 160.47M | Dec 2019 | FMIL vs RAFE | |
| Essential 40 Stock ETF | 94 | 180.66M | Jun 2014 | FMIL vs ESN |
Top Performing FMIL Alternatives (YTD)
FMIL is at 12.63% YTD. There are 82 ETFs in the Large Cap Blend Equities category with higher YTD returns, going as high as 35.88%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Aztlan North America Nearshoring Stock Selection E... | 35.88% | 33.11M | Nov 2023 | FMIL vs NRSH | |
| Return Stacked US Stocks & Futures Yield ETF | 30.52% | — | May 2024 | FMIL vs RSSY | |
| ARS Focused Opportunities Strategy ETF | 30.16% | 293.98M | Jun 2025 | FMIL vs AFOS | |
| Mohr Company Nav ETF | 26.09% | — | Sep 2024 | FMIL vs CNAV | |
| First Trust Bloomberg Inflation Sensitive Equity E... | 23.66% | 5.62M | Mar 2023 | FMIL vs FTIF |
Lowest Volatility Alternatives to FMIL
FMIL has 13.84% 1-year volatility. There are 152 ETFs in the Large Cap Blend Equities category with lower 1-year volatility, going as low as 7.38%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Azoria 500 Meritocracy ETF | 7.38% | — | Jul 2025 | FMIL vs SPXM | |
| 6 Meridian Mega Cap Equity ETF | 9.02% | 402.23M | May 2020 | FMIL vs SIXA | |
| State Street SPDR MSCI USA StrategicFactors ETF | 9.22% | 1.53B | Apr 2015 | FMIL vs QUS | |
| Liberty One Spectrum ETF | 9.36% | 65.78M | Sep 2025 | FMIL vs SPCT | |
| ALPS Equal Sector Weight ETF | 9.47% | 744.97M | Jul 2009 | FMIL vs EQL |
Lowest Drawdown Alternatives to FMIL
FMIL has a 1-year max drawdown of -9.98%. There are 138 ETFs in the Large Cap Blend Equities category with shallower 1-year drawdowns, going as shallow as -4.97%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Avantis Inflation Focused Equity ETF | -4.97% | 12.36M | Sep 2022 | FMIL vs AVIE | |
| Azoria 500 Meritocracy ETF | -5.08% | — | Jul 2025 | FMIL vs SPXM | |
| 6 Meridian Mega Cap Equity ETF | -5.59% | 402.23M | May 2020 | FMIL vs SIXA | |
| Invesco RAFI Strategic US ETF | -6.15% | 927.09M | Sep 2018 | FMIL vs IUS | |
| ALPS Equal Sector Weight ETF | -6.19% | 744.97M | Jul 2009 | FMIL vs EQL |
Other ETFs from Fidelity
The 10 most viewed Fidelity ETFs shown here include FTEC, FDVV, FBTC and span 7 categories. AUM among these funds goes as high as $27B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Fidelity MSCI Information Technology Index ETF | Technology Equities | 61 | 22.53% | 20.96B | Oct 2013 | FMIL vs FTEC | |
| Fidelity High Dividend ETF | Large Cap Blend Equities, Dividend | 82 | 13.00% | 9.74B | Sep 2016 | FMIL vs FDVV | |
| Fidelity Wise Origin Bitcoin Fund | Cryptocurrency | 2 | -27.08% | 10.22B | Jan 2024 | FMIL vs FBTC | |
| Fidelity Total Bond ETF | Intermediate Core-Plus Bond | 26 | -0.08% | 26.62B | Oct 2014 | FMIL vs FBND | |
| Fidelity Nasdaq Composite Index ETF | Large Cap Growth Equities | 60 | 12.39% | 10.69B | Sep 2003 | FMIL vs ONEQ | |
| Fidelity Blue Chip Growth ETF | Large Cap Growth Equities | 46 | 11.42% | 6.97B | Jun 2020 | FMIL vs FBCG | |
| Fidelity Enhanced Large Cap Core ETF | Large Cap Blend Equities | 84 | 13.57% | 7.88B | Apr 2007 | FMIL vs FELC | |
| Fidelity MSCI Utilities Index ETF | Utilities Equities | 21 | 4.95% | 2.35B | Oct 2013 | FMIL vs FUTY | |
| Fidelity Ethereum Fund | Cryptocurrency | 4 | -37.15% | 750.93M | Jul 2024 | FMIL vs FETH | |
| Fidelity Enhanced Large Cap Growth ETF | Large Cap Growth Equities | 35 | 4.21% | 5.65B | Nov 2023 | FMIL vs FELG |
Often Compared With FMIL
Investors most often compare FMIL with FLRG, FDLO, NASDX. These 20 comparison targets span 11 categories, based on PortfoliosLab usage data.
Compare FMIL with Any Fund or Stock
Compare FMIL with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FMIL with funds that move differently
Fidelity New Millennium ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FMIL.
Explore FMIL Diversifiers