MILN vs. SHLD

Last updated Jul 14, 2026

MILN (Global X Millennial Consumer ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - MILN is a Large Cap Growth Equities fund tracking the Indxx Millennials Thematic Index, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, MILN returned -7.84% vs 0.92% for SHLD. At a 0.39 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.

Performance

MILN vs. SHLD - Performance Comparison

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

Returns By Period

In the year-to-date period, MILN achieves a -4.59% return, which is significantly higher than SHLD's -6.37% return.

MILN

• 1D: -0.09%
• 1M: 5.32%
• 6M: -7.09%
• YTD: -4.59%
• 1Y: -7.84%
• 3Y*: 10.68%
• 5Y*: 0.83%
• 10Y*: 11.30%

SHLD

• 1D: -1.18%
• 1M: -4.95%
• 6M: -20.55%
• YTD: -6.37%
• 1Y: 0.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MILN vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MILN Global X Millennial Consumer ETF	-4.59%	4.63%	27.11%	11.22%
SHLD Global X Defense Tech ETF	-6.37%	74.16%	35.03%	12.89%

Correlation

The correlation between MILN and SHLD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.39

MILN vs. SHLD - Sectors Allocation Comparison

Sectors	MILN	SHLD
Consumer Cyclical	51.5%	-
Communication Services	16.3%	-
Technology	13.9%	12.2%
Consumer Defensive	6.3%	-
Real Estate	6.0%	-
Financial Services	4.8%	-
Healthcare	0.8%	-
Industrials	0.4%	87.8%
Basic Materials	-	-
Energy	-	-
Utilities	-	-

Return for Risk

MILN vs. SHLD — Risk / Return Rank

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

MILN

MILN Risk / Return Rank: 6
MILN Sharpe Ratio Rank: 5
MILN Sortino Ratio Rank: 5
MILN Omega Ratio Rank: 5
MILN Calmar Ratio Rank: 6
MILN Martin Ratio Rank: 6

SHLD

SHLD Risk / Return Rank: 10
SHLD Sharpe Ratio Rank: 10
SHLD Sortino Ratio Rank: 10
SHLD Omega Ratio Rank: 10
SHLD Calmar Ratio Rank: 10
SHLD Martin Ratio Rank: 10

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. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Millennial Consumer ETF (MILN) and Global X Defense Tech ETF (SHLD). 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	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.44	0.04	-0.48
Sortino ratio: Return per unit of downside risk	-0.50	0.24	-0.74
Omega ratio: Gain probability vs. loss probability	0.94	1.03	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.35	0.04	-0.39
Martin ratio: Return relative to average drawdown	-0.72	0.09	-0.81

MILN vs. SHLD - Sharpe Ratio Comparison

The current MILN Sharpe Ratio is -0.44, which is lower than the SHLD Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of MILN and SHLD, 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. SHLD - Drawdown Comparison

The maximum MILN drawdown since its inception was -44.40%, which is greater than SHLD's maximum drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for MILN and SHLD.

Drawdown Indicators

	MILN	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-44.40%	-25.40%	-19.00%
Max Drawdown (1Y) Largest decline over 1 year	-22.32%	-25.40%	+3.08%
Max Drawdown (3Y) Largest decline over 3 years	-23.48%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.40%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.40%	—	—
Current Drawdown Current decline from peak	-11.54%	-22.25%	+10.71%
Average Drawdown Average peak-to-trough decline	-10.70%	-3.82%	-6.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.89%	9.99%	+0.90%

Volatility

MILN vs. SHLD - Volatility Comparison

The current volatility for Global X Millennial Consumer ETF (MILN) is 6.36%, while Global X Defense Tech ETF (SHLD) has a volatility of 9.71%. This indicates that MILN experiences smaller price fluctuations and is considered to be less risky than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MILN	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.36%	9.71%	-3.35%
Volatility (6M) Calculated over the trailing 6-month period	14.17%	20.10%	-5.93%
Volatility (1Y) Calculated over the trailing 1-year period	17.80%	25.23%	-7.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.77%	21.57%	+1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.04%	21.57%	+0.47%

MILN vs. SHLD - Expense Ratio Comparison

Both MILN and SHLD have an expense ratio of 0.50%.

Dividends

MILN vs. SHLD - Dividend Comparison

MILN's dividend yield for the trailing twelve months is around 0.31%, less than SHLD's 0.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
SHLD Global X Defense Tech ETF	0.70%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MILN and SHLD in my portfolio?

MILN and SHLD have a correlation of 0.36, 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 SHLD?

SHLD has higher volatility (9.71%) compared to MILN (6.36%). In terms of maximum drawdown, MILN dropped -44.40% vs SHLD's -25.40%.

Which ETF is better, MILN or SHLD?

On 1-year performance, SHLD leads with 0.92% vs -7.84% for MILN. Both ETFs have the same 0.50% expense ratio. On volatility, MILN has been the lower-risk option at 6.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MILN or SHLD?

Over the 1-year period, SHLD has performed better with a 0.92% return vs -7.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MILN or SHLD?

MILN and SHLD have the same expense ratio: 0.50% per year.

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

SHLD has the higher dividend yield at 0.70%, compared with 0.31% for MILN.

What is the main difference between MILN and SHLD?

MILN is categorized as Large Cap Growth Equities, while SHLD is Aerospace & Defense. MILN tracks Indxx Millennials Thematic Index, while SHLD tracks Global X Defense Tech Index.

Which has better risk-adjusted returns?

SHLD currently has the higher Sharpe Ratio (0.04 vs -0.44), 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.