This article was originally published on ETFTrends.com.

The coronavirus pandemic is having a profound impact on spending trends and the shifts are evident with millennials and Gen Z, but the Principal Millennials Index ETF (Nasdaq: GENY) is proving resilient. A 9% gain over the past month proves GENY can move with the tide as younger generations change spending habits.

GENY tracks the Nasdaq Global Millennial Opportunity Index. This index seeks to capture the global spending and lifestyle activities of the largest generation ever, offering exposure to brand name companies specializing in social media, digital media, technology, healthy lifestyles, travel, and leisure. The companies will evolve over time as the spending patterns of millennials change as they age.

“A recent study by Tata Capital found the two generations to have several differences when it comes to financial, social and technological behavior,” reports Financial Express. “And this defining shift—the Millennial Pivot—which best can be described as a tipping point that defines how young people’s behavior and attitudes begin to change around the age of 25 has further been highlighted in the months since the start of the pandemic.”

Changing With the Times

Integral parts of the millennial-driven are shopping and entertainment consumption trends. Shopping and consumer trends are changing as more buyers rely on the convenience of online retailers to quickly and easily meet their discretionary needs. As the retail landscape changes, investors can also capitalize on the trend through ETFs that target the e-commerce segment.

“With the onset of COVID-19 the life of millennials—a generation associated with spending more and saving less—has turned topsy-turvy. The lockdown and ambiguity have forced them to pause and evaluate their lifestyle and spending habits,” according to Financial Express.

A recent MSN report highlighted the spending habits of millennials, which shows key trends pointing towards the sign of the times—a heavy reliance on technology and convenience.

“The stereotype is that millennials spend their money frivolously, but the spending that might be mocked as frivolous – like greater spending on streaming services and electronics such as iPhones – may be more indicative of the times we live in than they are a sign of thoughtless overspending,” says Stefanie O’Connell Rodriguez, millennial money expert and author of “The Broke and Beautiful Life.”

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