FGRO vs. LENS

Last updated Jul 14, 2026

FGRO (Fidelity Growth Opportunities ETF) and LENS (Sarmaya Thematic ETF) are both Global Equities funds. Both are actively managed. At a 0.17 correlation, their price movements are largely independent. FGRO charges 0.59%/yr vs 0.79%/yr for LENS.

Performance

FGRO vs. LENS - Performance Comparison

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

Returns By Period

FGRO

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LENS

• 1D: 0.01%
• 1M: -5.89%
• 6M: -4.85%
• YTD: 1.92%
• 1Y: 38.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FGRO vs. LENS - Yearly Performance Comparison

	2026 (YTD)
FGRO Fidelity Growth Opportunities ETF	-1.24%
LENS Sarmaya Thematic ETF	-5.17%

Correlation

The correlation between FGRO and LENS is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 8, 2026	0.17

Return for Risk

FGRO vs. LENS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FGRO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

LENS

LENS Risk / Return Rank: 45
LENS Sharpe Ratio Rank: 52
LENS Sortino Ratio Rank: 44
LENS Omega Ratio Rank: 52
LENS Calmar Ratio Rank: 40
LENS Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FGRO vs. LENS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Opportunities ETF (FGRO) 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.

	FGRO	LENS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.44	—
Sortino ratio: Return per unit of downside risk	—	1.82	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	1.63	—
Martin ratio: Return relative to average drawdown	—	4.43	—

Drawdowns

Drawdown Indicators

	FGRO	LENS	Difference
Max Drawdown Largest peak-to-trough decline	—	-24.55%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-24.55%	—
Current Drawdown Current decline from peak	—	-22.33%	—
Average Drawdown Average peak-to-trough decline	—	-4.86%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.00%	—

Volatility

Volatility by Period

	FGRO	LENS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	27.86%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	25.73%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	25.73%	—

FGRO vs. LENS - Expense Ratio Comparison

FGRO has a 0.59% expense ratio, which is lower than LENS's 0.79% expense ratio.

Dividends

FGRO vs. LENS - Dividend Comparison

FGRO has not paid dividends to shareholders, while LENS's dividend yield for the trailing twelve months is around 1.57%.

Position	TTM	2025
FGRO Fidelity Growth Opportunities ETF	0.00%	0.00%
LENS Sarmaya Thematic ETF	1.57%	1.60%

Frequently Asked Questions

Can I hold both FGRO and LENS in my portfolio?

FGRO and LENS have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FGRO or LENS?

On fees, FGRO is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FGRO or LENS?

FGRO is cheaper with a 0.59% expense ratio, compared with 0.79% for LENS.

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

LENS has the higher dividend yield at 1.57%, compared with 0.00% for FGRO.

What is the main difference between FGRO and LENS?

They also come from different issuers: Fidelity and Sarmaya Partners. Their fees differ too: 0.59% for FGRO and 0.79% for LENS.