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Fidelity New Millennium (FMIL)Overvalued or undervalued?
Look-through valuation · Global · Expense ratio 0.37 % · ISIN US3160923609
Price history (since 2020)
Monthly close since 2020. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| NVIDIA Corporation NVDA | 8.8 % | −5.9 % | 73 |
| Alphabet Inc Class A GOOGL | 6.7 % | n/a | n/a |
| Amazon.com Inc AMZN | 5.0 % | −43.4 % | 56 |
| Apple Inc. AAPL | 3.9 % | −0.3 % | 82 |
| Meta Platforms Inc. META | 3.2 % | +10.0 % | 66 |
| Taiwan Semiconductor Manufacturing TSM | 2.6 % | +10.0 % | 77 |
| Microsoft Corporation MSFT | 2.6 % | +10.0 % | 66 |
| Broadcom Inc AVGO | 2.5 % | −6.5 % | 71 |
| Exxon Mobil Corp XOM | 1.9 % | −50.7 % | 58 |
| The Boeing Company BA | 1.8 % | −74.6 % | 41 |
| Visa Inc. Class A V | 1.8 % | −45.8 % | 81 |
| Wells Fargo & Company WFC | 1.6 % | −19.2 % | 55 |
| Bank of America Corp BAC | 1.6 % | −16.6 % | 60 |
| Eli Lilly and Company LLY | 1.6 % | −41.2 % | 67 |
| Western Digital Corporation WDC | 1.5 % | −48.8 % | 82 |
| General Electric Company GCP | 1.4 % | n/a | n/a |
| Westinghouse Air Brake Technologies Corp WAB | 1.4 % | +6.8 % | 67 |
| Seagate Technology PLC STX | 1.4 % | −66.6 % | 78 |
| Cummins Inc CMI | 1.2 % | −30.6 % | 59 |
| UnitedHealth Group Incorporated UNH | 1.2 % | +27.2 % | 61 |
| SHELL PLC WI ADR/2 L3H | 1.1 % | n/a | n/a |
| GE Vernova LLC GEV | 1.0 % | −82.5 % | 67 |
| Keurig Dr Pepper Inc KDP | 0.9 % | +16.3 % | 59 |
| Chubb Ltd CB | 0.9 % | −33.5 % | 65 |
| The Bank of New York Mellon Corporation BK | 0.9 % | n/a | n/a |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 48 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 KWEB KraneShares CSI China Internet ETF 49.7 % below FV
- 2 CHIQ Global X MSCI China Consumer Disc ETF 49.3 % below FV
- 3 CHIU Global X MSCI China Utilities ETF 45.9 % below FV
- 4 MCHI iShares MSCI China ETF 36.3 % below FV
- 5 FLCH Franklin FTSE China ETF 35.9 % below FV
- 6 FDNI First Trust Dow Jones International Internet ETF 28.4 % below FV
- 7 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF 26.1 % below FV
- 8 ITB iShares U.S. Home Construction ETF 23.0 % below FV
- 9 FDEM Fidelity® Emerging Markets Multifactor ETF 17.0 % below FV
- 10 XLC Communication Services Select Sector SPDR® Fund 16.2 % below FV
Frequently asked about FMIL
Is FMIL overvalued?
What is the fair value of FMIL?
How do you calculate the fair value of an ETF?
Which stocks drive the valuation of FMIL?
What is the expense ratio of FMIL?
How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Fidelity® New Millennium ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Oct 26, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.