These ETFs tap millennial spending

Article Excerpt

Born between 1980 and 2000, about 90 million residents in the U.S. belong to Generation Y. The oldest of those “millennials”—a name coined for members of this large demographic group—will reach their prime earning years starting in 2020. Over the next two to three decades, millennials as a group will also inherit from their baby-boomer parents the single-largest transfer of wealth from one generation to the next. (For more on millennials, see supplement, page 9) Here’s a look at two exchange-traded funds; each holds companies likely positioned to benefit from the spending power and habits of Generation Y—both now and in the future. GLOBAL X MILLENNIALS THEMATIC ETF $19 (Nasdaq symbol MILN; TSINetwork ETF Rating: Aggressive; Market cap: $10.2 million) tracks the Indxx Millennials Thematic Index, which aims to provide exposure to the growing spending power and unique preferences of U.S. millennials. Generally, companies included in this fund focus on social media and entertainment, food and dining, and financial services. The ETF invests…

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