FMIL vs. FLOW
FMIL (Fidelity New Millennium ETF) is Large Cap Blend Equities fund actively managed by Fidelity, while FLOW (SPX FLOW, Inc.) is a stock. Over the past year, FMIL returned 26.96% vs 29.06% for FLOW. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
FMIL vs. FLOW - Performance Comparison
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Returns By Period
In the year-to-date period, FMIL achieves a 10.26% return, which is significantly higher than FLOW's 9.51% return.
FMIL
- 1D
- -0.68%
- 1M
- 3.15%
- YTD
- 10.26%
- 6M
- 11.18%
- 1Y
- 26.96%
- 3Y*
- 23.20%
- 5Y*
- 15.85%
- 10Y*
- —
FLOW
- 1D
- -0.64%
- 1M
- 5.94%
- YTD
- 9.51%
- 6M
- 10.60%
- 1Y
- 29.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FMIL vs. FLOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FMIL Fidelity New Millennium ETF | 10.26% | 17.67% | 27.89% | 7.73% |
FLOW SPX FLOW, Inc. | 9.51% | 17.52% | 13.03% | 9.38% |
Correlation
The correlation between FMIL and FLOW is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2023 | 0.60 |
The correlation between FMIL and FLOW shifts across timeframes, from 0.46 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FMIL vs. FLOW — Risk / Return Rank
FMIL
FLOW
FMIL vs. FLOW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity New Millennium ETF (FMIL) and SPX FLOW, Inc. (FLOW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| FMIL | FLOW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.34 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 4.41 | -1.70 |
| Martin ratioReturn relative to average drawdown | 12.30 | 12.85 | -0.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FMIL | FLOW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 1.92 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 1.03 | +0.14 |
Drawdowns
FMIL vs. FLOW - Drawdown Comparison
The maximum FMIL drawdown since its inception was -19.72%, smaller than the maximum FLOW drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for FMIL and FLOW.
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Drawdown Indicators
| FMIL | FLOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.72% | -21.64% | +1.92% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -6.61% | -3.37% |
Max Drawdown (3Y)Largest decline over 3 years | -19.72% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.72% | — | — |
Current DrawdownCurrent decline from peak | -0.68% | -1.69% | +1.01% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -3.13% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.27% | -0.07% |
Volatility
FMIL vs. FLOW - Volatility Comparison
The current volatility for Fidelity New Millennium ETF (FMIL) is 3.15%, while SPX FLOW, Inc. (FLOW) has a volatility of 4.34%. This indicates that FMIL experiences smaller price fluctuations and is considered to be less risky than FLOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMIL | FLOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 4.34% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 9.73% | 10.07% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.80% | 15.30% | -2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 16.98% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.65% | 16.98% | +0.67% |
Dividends
FMIL vs. FLOW - Dividend Comparison
FMIL's dividend yield for the trailing twelve months is around 1.00%, less than FLOW's 2.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
FLOW SPX FLOW, Inc. | 2.20% | 2.15% | 2.10% | 0.95% | 0.00% | 0.00% | 0.00% |
FMIL Fidelity New Millennium ETF | 1.00% | 1.10% | 0.82% | 0.57% | 1.67% | 1.68% | 0.89% |
Frequently Asked Questions
FMIL and FLOW have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLOW has higher volatility (4.34%) compared to FMIL (3.15%). In terms of maximum drawdown, FMIL dropped -19.72% vs FLOW's -21.64%.
FMIL currently has the higher Sharpe Ratio (2.12 vs 1.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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