MILN - Global X Millennials Thematic ETF- Notable Factors For And Against

• MILN’s portfolio is relatively stable (low churn), and its holdings are well-balanced.
• MILN has a solid track record of mitigating its high volatility and delivering superior risk-adjusted returns.
• Discretionary stocks account for the bulk of MILN’s portfolio and this segment looks overstretched by historical standards.
• Consumer confidence remains resilient but it doesn’t appear as though the progression in retail sales is resilient enough without the aid of stimulus.
• MILN’s valuations are not reflective of the sales and earnings profile of its constituents, and the risk reward on the charts look unappealing.

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