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Is Fidelity New Millennium Fund (FMILX) Worth Another Look?

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Fidelity New Millennium (FMILX - Free Report) a Zacks Rank #2 (Buy) was incepted in December 28, 1992 and is managed by Fidelity Group. The objective of FMILX is to seek capital appreciation. FMILX focuses on identifying industries and companies that will benefit from social and economic change by examining social attitudes, legislative actions, economic plans, product innovation, demographics and other factors, which can lead to investments in small and medium-sized companies. FMILX invests primarily in common stocks of domestic and foreign issuers.

Fidelity New Millennium, managed by Fidelity, carries an expense ratio of 0.58%. Moreover, FMILX requires a minimal initial investment of $2,500.

This fund, as of the last filing, allocates their fund in five major groups; Large Value, Large Growth, Small Growth, Foreign Stock and Emerging Market. Further, as of the last filing, Cisco, Facebook and Alphabet were the top holdings for FMILX.

FMILX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 1, 3, 5 year benchmarks; 1 year 14.92%, 3 year 5.98% and 5 year 13.56%. To see how this fund performed compared in its category and other #1 and #2 Ranked Mutual Funds, please click here.

FMILX’s performance, as of the last filing, when compared to funds in its category was in the top 9% in 1 year, top 38% over the past 3 years, and in the 42% over the past 5 years.

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