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MILN vs NICO

Global X Millennial Consumer ETF

MILNBNasdaq

Hexis Active Nicotine Engagement ETF

NICODNYSE Arca

Overlap

Expense ratio

MILN −0.20pt a year

MILN0.50%NICO0.70%

Avg volume · 30D

MILN 6.5×the volume

MILN7.31KNICO1.13K

MILN vs NICO Performance

Jul 31, 2026 – Oct 30, 2026

−2.8%MILN+7.2%NICO

Jul 31, 2026 to Oct 30, 2026. MILN −2.8%. NICO +7.2%. Use the arrow keys to read each point.−7.5%−5%0%2.5%5%Jul 2026Sep 2026Oct 2026
Expense ratio
MILN 0.50%, better
NICO 0.70%
Fund size
MILN $89M
NICO $2M
1Y total return
MILN −7.2%
NICO No data
Yield (12M)
MILN 0.32%
NICO No data
Holdings
MILN 82
NICO 17
Avg volume (30D)
MILN 7.31K sh, better
NICO 1.13K sh
NAV per share
MILN $43.75
NICO $28.14
52W range

ETF.net Grade

MILN: Cost 70, Risk 44, Mission 80, Tradability 75, Holdings 83, Durability 81. NICO: Cost 12, Risk 79, Mission not scored, Tradability 43, Holdings not scored, Durability 34.
Pillar letters and Scores for MILN, NICO, with each pillar’s weight
PillarMILNNICO
Cost30% weightA70HigherF12
Mission25% weightA80Not scored
Risk15% weightC44A79Higher
Tradability15% weightA75HigherC43
Holdings10% weightA83Not scored
Durability5% weightA81HigherD34

Rank among Consumer Lifestyle funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MILN and NICO are both graded against the same 10 Consumer Lifestyle funds, so their Grades compare head to head.

Consumer Lifestyle⁠

Category · 10 funds
See all 10 ›

MILN ranks 1st and NICO 10th of 10 funds in the Consumer Lifestyle Category.

  1. Rank 1BMILNGlobal X Millennial Consumer ETFScore 68
  2. Rank 2BPEJInvesco Dynamic Leisure and Entertainment ETFScore 63
  3. Rank 7CTSICTruth Social American Icons ETF Amrn Icons ETFScore 40
  4. Rank 10DNICOHexis Active Nicotine Engagement ETFScore 36

Our read on each fund

ETF.net Research

MILNBGlobal X Millennial Consumer ETF

NICODHexis Active Nicotine Engagement ETF

In short

MILN A bet on how a whole generation spends, not on one sector. Since 2016 it has tracked an index of about 80 US companies built around Millennial wallets, an early take on generational themes that costs less than the typical fund in its niche.

NICO Most staples funds own tobacco as a sliver next to soap and soda. This one makes it the whole trade: active management, a global mandate, and at least 80% of assets in tobacco and nicotine companies.

Stated mandate

MILN The fund seeks exposure to companies positioned to benefit from the increasing spending power and distinct consumption preferences of U.S. Millennials.

NICO The Fund seeks long-term capital appreciation through active management, normally investing at least 80% of net assets in companies engaged in the global tobacco and nicotine sectors.

Why people hold it

  • MILN Charges 0.50% a year, under the 0.65% median for its consumer-lifestyle peer group. Modest for a single-theme fund.globalxetfs.com
  • Follows a published rulebook, the Indxx Millennials Thematic Index, so holdings answer to the stated mandate rather than a manager's mood.globalxetfs.com
  • The portfolio matches what the label promises: US companies tied to Millennial spending power and tastes, spread across roughly 80 names instead of a two-stock wager.globalxetfs.com
  • Top-quartile standing in a consumer-lifestyle cohort that includes PAWZ, EMC and LOGO, and it undercuts EMC and LOGO on fees.
  • NICO Pure-play by design: at least 80% of net assets go to global tobacco and nicotine names, not a slice of a diversified staples basket.
  • Actively managed rather than index-tracking, with a global remit, so the manager can pick across markets instead of following a fixed weighting.
  • Standard 1940 Act ETF plumbing: it trades like any ordinary stock fund, and shareholders get a 1099 rather than a K-1.sec.gov

Worth knowing

  • MILN Trades thinly. Spreads can run wider than on a mega-cap index fund, so order size and limit prices matter more here.
  • One theme, one country. Roughly 80 US consumer stocks tied to a single spending story can move further, up or down, than a broad market fund.
  • Distributions arrive once or twice a year at most. Income is not what this structure is built around.
  • NICO 0.70% a year is the price of active, single-theme access; the broad staples index funds in its group (XLP, VDC, FSTA) charge under a tenth of a percent.
  • A small, thinly traded fund since its 2026 launch, so bid-ask spreads can run wider than on the giant staples funds.
  • Income is not the mandate here: the objective is long-term capital appreciation, and regular payouts have not been a feature of the fund.

Full MILN profile⁠

Full NICO profile⁠

MILN vs NICO Holdings

As of
How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MILN vs NICO Cost

Overpaying NICO vs MILN

$3,627

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MILN 0.50%

    $9,979

  • NICO 0.70%

    $13,606

$10,000
30 years

Cost over time

  • MILN 0.50%
  • NICO 0.70%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530NICO $13,606MILN $9,979

Year by year

YearMILNNICOOverpaying
10$900$1,250$350
20$3,460$4,760$1,300
30$9,979$13,606$3,627

Expense ratio

  • 0.50%MILN, cheaper
  • 0.70%NICO
  • Middle half of Consumer Lifestyle funds
  • Median 0.54%

MILN 3rd cheapest of 10 funds

NICO 10th cheapest of 10 funds

MILN vs NICO Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MILN 0.32%
NICO No data
Payout (12M)
MILN $0.14
NICO None
Last payment
MILN $0.04
NICO No data
Ex-dividend
MILN Jun 29, 2026
NICO No data
Paid on
MILN Jul 2, 2026
NICO No data
Frequency
MILN Twice a year
NICO No data

Distribution history

Per share, 2017 to 2026, same scale for both

MILNTwice a year · 15 paymentsAll MILN payments⁠
One bar per payment. 15 payments from 2017 to 2026 YTD. Dec 28, 2017 $0.17; Dec 28, 2018 $0.09; Jun 27, 2019 $0.02; Dec 30, 2019 $0.09; Jun 29, 2020 $0.02; Dec 30, 2020 $0.06; Dec 30, 2021 $0.07; Dec 29, 2022 $0.06; Jun 29, 2023 $0.0042; Dec 28, 2023 $0.11; Jun 27, 2024 $0.02; Dec 30, 2024 $0.09; Jun 27, 2025 $0.02; Dec 30, 2025 $0.10; Jun 29, 2026 $0.04. Use the arrow keys to read each point.$0$0.202017202020232026YTD
NICOAll NICO payments⁠

No distribution history available.

MILN vs NICO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MILN 17.7%NICO No data
Return per unit of riskSharpe ratio, 3 years
MILN 0.62NICO No data
Worst fallMax drawdown, 5 years
MILN −44.4%NICO No data
Market sensitivityBeta, 5 years
MILN 1.15NICO −1.38

Popular comparisons

  • MILNBvsPEJB

    Global X Millennial Consumer ETF · Invesco Dynamic Leisure and Entertainment ETF

    Expense ratio
    0.50% · 0.58%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NICODvsPEJB

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    Expense ratio
    0.70% · 0.58%
    Category
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  • NICODvsGENZC

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    Expense ratio
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    Category
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