FMIL vs. SELV

Last updated Jul 15, 2026

FMIL (Fidelity New Millennium ETF) and SELV (SEI Enhanced Low Volatility US Large Cap ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 3 years, FMIL returned 21.58%/yr vs 10.83%/yr for SELV. A 0.62 correlation means they provide meaningful diversification when combined. FMIL charges 0.59%/yr vs 0.15%/yr for SELV.

Performance

FMIL vs. SELV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity New Millennium ETF (FMIL) and SEI Enhanced Low Volatility US Large Cap ETF (SELV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMIL achieves a 11.52% return, which is significantly higher than SELV's 2.97% return.

FMIL

• 1D: 0.63%
• 1M: 1.97%
• 6M: 9.08%
• YTD: 11.52%
• 1Y: 21.32%
• 3Y*: 21.58%
• 5Y*: 16.90%
• 10Y*: —

SELV

• 1D: -1.61%
• 1M: 0.21%
• 6M: 2.08%
• YTD: 2.97%
• 1Y: 8.49%
• 3Y*: 10.83%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FMIL vs. SELV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMIL Fidelity New Millennium ETF	11.52%	17.67%	27.89%	25.07%	1.06%
SELV SEI Enhanced Low Volatility US Large Cap ETF	2.97%	12.86%	14.71%	6.58%	-0.61%

Correlation

The correlation between FMIL and SELV is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since May 18, 2022	0.62

Over the past year, the correlation between FMIL and SELV has dropped to 0.19 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

FMIL vs. SELV - Sectors Allocation Comparison

Sectors	FMIL	SELV
Technology	31.3%	21.4%
Financial Services	13.5%	4.8%
Communication Services	11.1%	15.8%
Industrials	10.7%	7.5%
Consumer Cyclical	9.7%	4.9%
Healthcare	8.7%	17.0%
Consumer Defensive	4.7%	12.3%
Energy	4.0%	4.3%
Utilities	2.7%	7.6%
Basic Materials	2.0%	2.8%
Real Estate	1.1%	0.1%

Return for Risk

FMIL vs. SELV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FMIL

FMIL Risk / Return Rank: 58
FMIL Sharpe Ratio Rank: 59
FMIL Sortino Ratio Rank: 57
FMIL Omega Ratio Rank: 57
FMIL Calmar Ratio Rank: 53
FMIL Martin Ratio Rank: 66

SELV

SELV Risk / Return Rank: 31
SELV Sharpe Ratio Rank: 30
SELV Sortino Ratio Rank: 29
SELV Omega Ratio Rank: 27
SELV Calmar Ratio Rank: 35
SELV Martin Ratio Rank: 32

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FMIL vs. SELV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity New Millennium ETF (FMIL) and SEI Enhanced Low Volatility US Large Cap ETF (SELV). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FMIL	SELV	Difference
Sharpe ratio: Return per unit of total volatility	1.57	0.91	+0.66
Sortino ratio: Return per unit of downside risk	2.19	1.34	+0.85
Omega ratio: Gain probability vs. loss probability	1.28	1.16	+0.12
Calmar ratio: Return relative to maximum drawdown	2.15	1.44	+0.71
Martin ratio: Return relative to average drawdown	9.45	3.84	+5.61

FMIL vs. SELV - Sharpe Ratio Comparison

The current FMIL Sharpe Ratio is 1.57, which is higher than the SELV Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of FMIL and SELV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FMIL vs. SELV - Drawdown Comparison

The maximum FMIL drawdown since its inception was -19.72%, which is greater than SELV's maximum drawdown of -13.73%. Use the drawdown chart below to compare losses from any high point for FMIL and SELV.

Drawdown Indicators

	FMIL	SELV	Difference
Max Drawdown Largest peak-to-trough decline	-19.72%	-13.73%	-5.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.98%	-5.92%	-4.06%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-8.94%	-10.78%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	—	—
Current Drawdown Current decline from peak	-0.40%	-1.95%	+1.55%
Average Drawdown Average peak-to-trough decline	-2.96%	-2.37%	-0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.22%	+0.04%

Volatility

FMIL vs. SELV - Volatility Comparison

Fidelity New Millennium ETF (FMIL) and SEI Enhanced Low Volatility US Large Cap ETF (SELV) have volatilities of 4.37% and 4.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMIL	SELV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	4.22%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	10.83%	7.43%	+3.40%
Volatility (1Y) Calculated over the trailing 1-year period	13.62%	9.39%	+4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.98%	11.92%	+5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	11.92%	+5.72%

FMIL vs. SELV - Expense Ratio Comparison

FMIL has a 0.59% expense ratio, which is higher than SELV's 0.15% expense ratio.

Dividends

FMIL vs. SELV - Dividend Comparison

FMIL's dividend yield for the trailing twelve months is around 0.98%, less than SELV's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FMIL Fidelity New Millennium ETF	0.98%	1.10%	0.82%	0.57%	1.67%	1.68%	0.89%
SELV SEI Enhanced Low Volatility US Large Cap ETF	1.74%	1.74%	1.77%	2.06%	1.26%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMIL and SELV in my portfolio?

FMIL and SELV have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMIL or SELV?

FMIL has higher volatility (4.37%) compared to SELV (4.22%). In terms of maximum drawdown, FMIL dropped -19.72% vs SELV's -13.73%.

Which ETF is better, FMIL or SELV?

On 3-year performance, FMIL leads with 21.58% vs 10.83% for SELV. On fees, SELV is cheaper at 0.15% per year. On volatility, SELV has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMIL or SELV?

Over the 3-year period, FMIL has performed better with a 21.58% return vs 10.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMIL or SELV?

SELV is cheaper with a 0.15% expense ratio, compared with 0.59% for FMIL.

Which ETF pays a higher dividend yield, FMIL or SELV?

SELV has the higher dividend yield at 1.74%, compared with 0.98% for FMIL.

What is the main difference between FMIL and SELV?

They also come from different issuers: Fidelity and SEI. Their fees differ too: 0.59% for FMIL and 0.15% for SELV.

Which has better risk-adjusted returns?

FMIL currently has the higher Sharpe Ratio (1.57 vs 0.91), 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.