MILN vs. FMAG

Last updated Aug 2, 2026

MILN (Global X Millennial Consumer ETF) and FMAG (Fidelity Magellan ETF) are both Large Cap Growth Equities funds. MILN is passively managed, while FMAG is actively managed. Over the past 5 years, MILN returned 0.80%/yr vs 9.42%/yr for FMAG. Their 0.78 correlation means they have sometimes moved together and sometimes differently. MILN charges 0.50%/yr vs 0.57%/yr for FMAG.

Performance

MILN vs. FMAG - Performance Comparison

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

Returns By Period

In the year-to-date period, MILN achieves a -4.03% return, which is significantly lower than FMAG's 5.43% return.

MILN

• 1D: -0.14%
• 1M: 0.23%
• 6M: -1.60%
• YTD: -4.03%
• 1Y: -4.94%
• 3Y*: 10.46%
• 5Y*: 0.80%
• 10Y*: 11.39%
• ALL TIME*: 11.84%

FMAG

• 1D: 2.40%
• 1M: 0.21%
• 6M: 4.75%
• YTD: 5.43%
• 1Y: 4.36%
• 3Y*: 17.29%
• 5Y*: 9.42%
• 10Y*: —
• ALL TIME*: 11.41%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FMAG Fidelity Magellan ETF	$446.65K	$640.18K	$741.28K
MILN Global X Millennial Consumer ETF	$318.17K	$312.98K	$344.80K

MILN vs. FMAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MILN Global X Millennial Consumer ETF	-4.03%	4.63%	27.11%	36.27%	-38.55%	8.90%
FMAG Fidelity Magellan ETF	5.43%	10.40%	28.52%	31.25%	-26.92%	26.06%

Correlation

The correlation between MILN and FMAG is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (All Time) Calculated using the full available price history since Feb 4, 2021	0.78

Over the past year, the correlation between MILN and FMAG has dropped to 0.53 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

MILN vs. FMAG - Sectors Allocation Comparison

Sectors	MILN	FMAG
Consumer Cyclical	53.4%	11.9%
Communication Services	14.9%	10.4%
Technology	13.1%	45.8%
Real Estate	6.3%	1.2%
Consumer Defensive	6.0%	1.6%
Financial Services	4.8%	7.2%
Healthcare	1.1%	3.1%
Industrials	0.6%	15.2%
Basic Materials	-	3.7%
Energy	-	-
Utilities	-	2.3%

Return for Risk

MILN vs. FMAG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MILN

MILN Risk / Return Rank: 7
MILN Sharpe Ratio Rank: 6
MILN Sortino Ratio Rank: 6
MILN Omega Ratio Rank: 6
MILN Calmar Ratio Rank: 7
MILN Martin Ratio Rank: 7

FMAG

FMAG Risk / Return Rank: 14
FMAG Sharpe Ratio Rank: 14
FMAG Sortino Ratio Rank: 14
FMAG Omega Ratio Rank: 13
FMAG Calmar Ratio Rank: 14
FMAG Martin Ratio Rank: 15

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MILN vs. FMAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Millennial Consumer ETF (MILN) and Fidelity Magellan ETF (FMAG). 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.

	MILN	FMAG	Difference
Sharpe ratio: Return per unit of total volatility	-0.36	0.16	-0.52
Sortino ratio: Return per unit of downside risk	-0.39	0.34	-0.73
Omega ratio: Gain probability vs. loss probability	0.95	1.04	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.30	0.18	-0.48
Martin ratio: Return relative to average drawdown	-0.59	0.61	-1.20

MILN vs. FMAG - Sharpe Ratio Comparison

The current MILN Sharpe Ratio is -0.36, which is lower than the FMAG Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of MILN and FMAG, 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

MILN vs. FMAG - Drawdown Comparison

The maximum MILN drawdown since its inception was -44.40%, which is greater than FMAG's maximum drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for MILN and FMAG.

Drawdown Indicators

	MILN	FMAG	Difference
Max Drawdown Largest peak-to-trough decline	-44.40%	-32.93%	-11.47%
Max Drawdown (1Y) Largest decline over 1 year	-22.32%	-13.97%	-8.35%
Max Drawdown (3Y) Largest decline over 3 years	-23.48%	-20.12%	-3.36%
Max Drawdown (5Y) Largest decline over 5 years	-44.40%	-32.93%	-11.47%
Max Drawdown (10Y) Largest decline over 10 years	-44.40%	—	—
Current Drawdown Current decline from peak	-11.01%	-3.09%	-7.92%
Average Drawdown Average peak-to-trough decline	-10.71%	-8.81%	-1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.23%	4.19%	+7.04%

Volatility

MILN vs. FMAG - Volatility Comparison

The current volatility for Global X Millennial Consumer ETF (MILN) is 5.73%, while Fidelity Magellan ETF (FMAG) has a volatility of 6.20%. This indicates that MILN experiences smaller price fluctuations and is considered to be less risky than FMAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MILN	FMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	6.20%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	14.68%	13.82%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	18.28%	16.38%	+1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.78%	20.18%	+2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.08%	19.79%	+2.29%

MILN vs. FMAG - Expense Ratio Comparison

MILN has a 0.50% expense ratio, which is lower than FMAG's 0.57% expense ratio.

Dividends

MILN vs. FMAG - Dividend Comparison

MILN's dividend yield for the trailing twelve months is around 0.31%, more than FMAG's 0.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FMAG Fidelity Magellan ETF	0.08%	0.09%	0.15%	0.34%	0.23%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%
MILN Global X Millennial Consumer ETF	0.31%	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 FMAG in my portfolio?

MILN and FMAG have a correlation of 0.53, 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 FMAG?

FMAG has higher volatility (6.20%) compared to MILN (5.73%). In terms of maximum drawdown, MILN dropped -44.40% vs FMAG's -32.93%.

Which ETF is better, MILN or FMAG?

On 5-year performance, FMAG leads with 9.42% vs 0.80% for MILN. On fees, MILN is cheaper at 0.50% per year. On volatility, MILN has been the lower-risk option at 5.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MILN or FMAG?

Over the 5-year period, FMAG has performed better with a 9.42% return vs 0.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MILN or FMAG?

MILN is cheaper with a 0.50% expense ratio, compared with 0.57% for FMAG.

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

MILN has the higher dividend yield at 0.31%, compared with 0.08% for FMAG.

What is the main difference between MILN and FMAG?

They also come from different issuers: Global X and Fidelity. Their fees differ too: 0.50% for MILN and 0.57% for FMAG.

Which has better risk-adjusted returns?

FMAG currently has the higher Sharpe Ratio (0.16 vs -0.36), 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.