DIVS vs. LENS

Last updated Aug 2, 2026

DIVS (SmartETFs Dividend Builder ETF) and LENS (Sarmaya Thematic ETF) are both Global Equities funds. Both are actively managed. Over the past year, DIVS returned 16.97% vs 48.47% for LENS. Their 0.31 correlation means their historical movements had little consistent relationship. DIVS charges 0.65%/yr vs 0.79%/yr for LENS.

Performance

DIVS vs. LENS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SmartETFs Dividend Builder ETF (DIVS) and Sarmaya Thematic ETF (LENS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVS achieves a 12.05% return, which is significantly higher than LENS's 4.83% return.

DIVS

• 1D: -0.08%
• 1M: 2.99%
• 6M: 8.15%
• YTD: 12.05%
• 1Y: 16.97%
• 3Y*: 13.13%
• 5Y*: 9.70%
• 10Y*: —
• ALL TIME*: 10.99%

LENS

• 1D: 0.09%
• 1M: 3.09%
• 6M: -9.06%
• YTD: 4.83%
• 1Y: 48.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 39.04%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIVS SmartETFs Dividend Builder ETF	$40.08K	$44.03K	$61.52K
LENS Sarmaya Thematic ETF	$447.09K	$425.48K	$464.75K

DIVS vs. LENS - Yearly Performance Comparison

	2026 (YTD)	2025
DIVS SmartETFs Dividend Builder ETF	12.05%	9.20%
LENS Sarmaya Thematic ETF	4.83%	56.41%

Correlation

The correlation between DIVS and LENS is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (All Time) Calculated using the full available price history since Jan 29, 2025	0.31

Return for Risk

DIVS vs. LENS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DIVS

DIVS Risk / Return Rank: 61
DIVS Sharpe Ratio Rank: 70
DIVS Sortino Ratio Rank: 73
DIVS Omega Ratio Rank: 67
DIVS Calmar Ratio Rank: 44
DIVS Martin Ratio Rank: 50

LENS

LENS Risk / Return Rank: 63
LENS Sharpe Ratio Rank: 76
LENS Sortino Ratio Rank: 64
LENS Omega Ratio Rank: 74
LENS Calmar Ratio Rank: 56
LENS Martin Ratio Rank: 43

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DIVS vs. LENS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SmartETFs Dividend Builder ETF (DIVS) and Sarmaya Thematic ETF (LENS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DIVS	LENS	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.75	-0.16
Sortino ratio: Return per unit of downside risk	2.33	2.13	+0.21
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	1.57	2.00	-0.43
Martin ratio: Return relative to average drawdown	5.75	4.72	+1.03

DIVS vs. LENS - Sharpe Ratio Comparison

The current DIVS Sharpe Ratio is 1.59, which is comparable to the LENS Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of DIVS and LENS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DIVS vs. LENS - Drawdown Comparison

The maximum DIVS drawdown since its inception was -29.55%, which is greater than LENS's maximum drawdown of -24.55%. Use the drawdown chart below to compare losses from any high point for DIVS and LENS.

Drawdown Indicators

	DIVS	LENS	Difference
Max Drawdown Largest peak-to-trough decline	-29.55%	-24.55%	-5.00%
Max Drawdown (1Y) Largest decline over 1 year	-10.62%	-24.55%	+13.93%
Max Drawdown (3Y) Largest decline over 3 years	-12.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.71%	—	—
Current Drawdown Current decline from peak	-0.08%	-20.11%	+20.03%
Average Drawdown Average peak-to-trough decline	-3.64%	-5.52%	+1.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	10.38%	-7.48%

Volatility

DIVS vs. LENS - Volatility Comparison

The current volatility for SmartETFs Dividend Builder ETF (DIVS) is 3.12%, while Sarmaya Thematic ETF (LENS) has a volatility of 5.66%. This indicates that DIVS experiences smaller price fluctuations and is considered to be less risky than LENS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVS	LENS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	5.66%	-2.54%
Volatility (6M) Calculated over the trailing 6-month period	8.69%	22.09%	-13.40%
Volatility (1Y) Calculated over the trailing 1-year period	10.53%	28.06%	-17.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	25.56%	-12.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.88%	25.56%	+0.32%

DIVS vs. LENS - Expense Ratio Comparison

DIVS has a 0.65% expense ratio, which is lower than LENS's 0.79% expense ratio.

Dividends

DIVS vs. LENS - Dividend Comparison

DIVS's dividend yield for the trailing twelve months is around 2.78%, more than LENS's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021
DIVS SmartETFs Dividend Builder ETF	2.78%	2.61%	2.66%	3.14%	5.93%	3.76%
LENS Sarmaya Thematic ETF	1.53%	1.60%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVS and LENS in my portfolio?

DIVS and LENS have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVS or LENS?

LENS has higher volatility (5.66%) compared to DIVS (3.12%). In terms of maximum drawdown, DIVS dropped -29.55% vs LENS's -24.55%.

Which ETF is better, DIVS or LENS?

On 1-year performance, LENS leads with 48.47% vs 16.97% for DIVS. On fees, DIVS is cheaper at 0.65% per year. On volatility, DIVS has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVS or LENS?

Over the 1-year period, LENS has performed better with a 48.47% return vs 16.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVS or LENS?

DIVS is cheaper with a 0.65% expense ratio, compared with 0.79% for LENS.

Which ETF pays a higher dividend yield, DIVS or LENS?

DIVS has the higher dividend yield at 2.78%, compared with 1.53% for LENS.

What is the main difference between DIVS and LENS?

They also come from different issuers: Guinness Atkinson and Alpha Architect. Their fees differ too: 0.65% for DIVS and 0.79% for LENS.

Which has better risk-adjusted returns?

LENS currently has the higher Sharpe Ratio (1.75 vs 1.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.