MILN vs. AIQ

Last updated Jun 4, 2026

MILN (Global X Millennial Consumer ETF) and AIQ (Global X Artificial Intelligence & Technology ETF) are both exchange-traded funds - MILN is a Large Cap Growth Equities fund tracking the Indxx Millennials Thematic Index, while AIQ is a Technology Equities fund tracking the Indxx Artificial Intelligence & Big Data Index. Both are passively managed. Over the past 5 years, MILN returned 0.79%/yr vs 19.07%/yr for AIQ. Their correlation of 0.81 suggests significant overlap in exposure. MILN charges 0.50%/yr vs 0.68%/yr for AIQ.

Performance

MILN vs. AIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Millennial Consumer ETF (MILN) and Global X Artificial Intelligence & Technology ETF (AIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MILN achieves a -9.79% return, which is significantly lower than AIQ's 35.98% return.

MILN

• 1D: -1.10%
• 1M: -3.21%
• YTD: -9.79%
• 6M: -9.62%
• 1Y: -10.13%
• 3Y*: 11.98%
• 5Y*: 0.79%
• 10Y*: 11.28%

AIQ

• 1D: -1.40%
• 1M: 21.10%
• YTD: 35.98%
• 6M: 36.15%
• 1Y: 69.19%
• 3Y*: 37.50%
• 5Y*: 19.07%
• 10Y*: —

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

MILN vs. AIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MILN Global X Millennial Consumer ETF	-9.79%	4.63%	27.11%	36.27%	-38.55%	13.99%	44.77%	32.24%	-5.11%
AIQ Global X Artificial Intelligence & Technology ETF	35.98%	31.89%	24.11%	55.39%	-36.44%	17.09%	52.88%	39.94%	-14.03%

Correlation

The correlation between MILN and AIQ is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 17, 2018	0.81

Over the past year, the correlation between MILN and AIQ has dropped to 0.57 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

MILN vs. AIQ - Sectors Allocation Comparison

Sectors	MILN	AIQ
Consumer Cyclical	51.5%	8.5%
Communication Services	16.2%	13.2%
Technology	14.0%	73.3%
Consumer Defensive	6.5%	-
Real Estate	5.9%	-
Financial Services	4.8%	0.4%
Healthcare	0.8%	0.4%
Industrials	0.4%	4.2%
Basic Materials	-	-
Energy	-	-
Utilities	-	-

Return for Risk

MILN vs. AIQ — Risk / Return Rank

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

MILN

MILN Risk / Return Rank: 4
MILN Sharpe Ratio Rank: 4
MILN Sortino Ratio Rank: 4
MILN Omega Ratio Rank: 4
MILN Calmar Ratio Rank: 5
MILN Martin Ratio Rank: 4

AIQ

AIQ Risk / Return Rank: 81
AIQ Sharpe Ratio Rank: 88
AIQ Sortino Ratio Rank: 81
AIQ Omega Ratio Rank: 80
AIQ Calmar Ratio Rank: 80
AIQ Martin Ratio Rank: 75

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.

MILN vs. AIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Millennial Consumer ETF (MILN) and Global X Artificial Intelligence & Technology ETF (AIQ). 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.

	MILN	AIQ	Difference
Sharpe ratio Return per unit of total volatility	-0.60	3.02	-3.62
Sortino ratio Return per unit of downside risk	-0.73	3.70	-4.43
Omega ratio Gain probability vs. loss probability	0.91	1.49	-0.57
Calmar ratio Return relative to maximum drawdown	-0.46	4.22	-4.68
Martin ratio Return relative to average drawdown	-1.03	14.59	-15.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MILN vs. AIQ - Sharpe Ratio Comparison

The current MILN Sharpe Ratio is -0.60, which is lower than the AIQ Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of MILN and AIQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MILN	AIQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.60	3.02	-3.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.76	-0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.84	-0.32

Drawdowns

MILN vs. AIQ - Drawdown Comparison

The maximum MILN drawdown since its inception was -44.40%, roughly equal to the maximum AIQ drawdown of -44.66%. Use the drawdown chart below to compare losses from any high point for MILN and AIQ.

Drawdown Indicators

	MILN	AIQ	Difference
Max Drawdown Largest peak-to-trough decline	-44.40%	-44.66%	+0.26%
Max Drawdown (1Y) Largest decline over 1 year	-22.32%	-16.47%	-5.85%
Max Drawdown (3Y) Largest decline over 3 years	-23.48%	-26.35%	+2.87%
Max Drawdown (5Y) Largest decline over 5 years	-44.40%	-44.66%	+0.26%
Max Drawdown (10Y) Largest decline over 10 years	-44.40%	—	—
Current Drawdown Current decline from peak	-16.36%	-1.40%	-14.96%
Average Drawdown Average peak-to-trough decline	-10.67%	-9.80%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.87%	4.76%	+5.11%

Volatility

MILN vs. AIQ - Volatility Comparison

The current volatility for Global X Millennial Consumer ETF (MILN) is 4.43%, while Global X Artificial Intelligence & Technology ETF (AIQ) has a volatility of 8.60%. This indicates that MILN experiences smaller price fluctuations and is considered to be less risky than AIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MILN	AIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	8.60%	-4.17%
Volatility (6M) Calculated over the trailing 6-month period	12.93%	18.46%	-5.53%
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	23.04%	-5.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.63%	25.33%	-2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.02%	25.50%	-3.48%

MILN vs. AIQ - Expense Ratio Comparison

MILN has a 0.50% expense ratio, which is lower than AIQ's 0.68% expense ratio.

Dividends

MILN vs. AIQ - Dividend Comparison

MILN's dividend yield for the trailing twelve months is around 0.28%, more than AIQ's 0.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AIQ Global X Artificial Intelligence & Technology ETF	0.14%	0.18%	0.14%	0.16%	0.56%	0.15%	0.50%	0.51%	0.51%	0.00%	0.00%
MILN Global X Millennial Consumer ETF	0.28%	0.25%	0.22%	0.33%	0.24%	0.15%	0.21%	0.43%	0.43%	0.89%	0.32%

Frequently Asked Questions

Can I hold both MILN and AIQ in my portfolio?

MILN and AIQ have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MILN or AIQ?

AIQ has higher volatility (8.60%) compared to MILN (4.43%). In terms of maximum drawdown, MILN dropped -44.40% vs AIQ's -44.66%.

Which ETF is better, MILN or AIQ?

On 5-year performance, AIQ leads with 19.07% vs 0.79% for MILN. On fees, MILN is cheaper at 0.50% per year. On volatility, MILN has been the lower-risk option at 4.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MILN or AIQ?

Over the 5-year period, AIQ has performed better with a 19.07% return vs 0.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MILN or AIQ?

MILN is cheaper with a 0.50% expense ratio, compared with 0.68% for AIQ.

Which ETF pays a higher dividend yield, MILN or AIQ?

MILN has the higher dividend yield at 0.28%, compared with 0.14% for AIQ.

What is the main difference between MILN and AIQ?

MILN is categorized as Large Cap Growth Equities, while AIQ is Technology Equities. MILN tracks Indxx Millennials Thematic Index, while AIQ tracks Indxx Artificial Intelligence & Big Data Index. Their fees differ too: 0.50% for MILN and 0.68% for AIQ.

Which has better risk-adjusted returns?

AIQ currently has the higher Sharpe Ratio (3.02 vs -0.60), 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.