LENS vs. FGRO

Last updated Aug 5, 2026

LENS (Sarmaya Thematic ETF) and FGRO (Fidelity Growth Opportunities ETF) are both exchange-traded funds - LENS is a Global Equities fund actively managed by Alpha Architect, while FGRO is a Large Cap Growth Equities fund actively managed by Fidelity. Both are actively managed. Their 0.17 correlation means their historical movements had little consistent relationship. LENS charges 0.79%/yr vs 0.59%/yr for FGRO.

Performance

LENS vs. FGRO - Performance Comparison

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

Returns By Period

LENS

• 1D: 0.99%
• 1M: 4.38%
• 6M: -10.73%
• YTD: 6.15%
• 1Y: 47.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 39.86%

FGRO

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

*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)
LENS Sarmaya Thematic ETF	$413.47K	$347.71K	$437.62K

LENS vs. FGRO - Yearly Performance Comparison

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

Correlation

The correlation between LENS and FGRO is 0.17, which is low. Their historical price movements had little consistent relationship.

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

Return for Risk

LENS vs. FGRO — Risk / Return Rank

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

LENS

LENS Risk / Return Rank: 52
LENS Sharpe Ratio Rank: 64
LENS Sortino Ratio Rank: 51
LENS Omega Ratio Rank: 62
LENS Calmar Ratio Rank: 47
LENS Martin Ratio Rank: 38

FGRO

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

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.

LENS vs. FGRO - Risk-Adjusted Trends Comparison

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

	LENS	FGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.70	—	—
Sortino ratio: Return per unit of downside risk	2.07	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	1.94	—	—
Martin ratio: Return relative to average drawdown	4.51	—	—

Drawdowns

Drawdown Indicators

	LENS	FGRO	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	-19.11%	—	—
Average Drawdown Average peak-to-trough decline	-5.59%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	10.53%	—	—

Volatility

Volatility by Period

	LENS	FGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.07%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.50%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.50%	—	—

LENS vs. FGRO - Expense Ratio Comparison

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

Dividends

LENS vs. FGRO - Dividend Comparison

LENS's dividend yield for the trailing twelve months is around 1.51%, while FGRO has not paid dividends to shareholders.

Position	TTM	2025
FGRO Fidelity Growth Opportunities ETF	0.00%	0.00%
LENS Sarmaya Thematic ETF	1.51%	1.60%

Frequently Asked Questions

Can I hold both LENS and FGRO in my portfolio?

LENS and FGRO 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, LENS or FGRO?

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, LENS or FGRO?

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

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

LENS has the higher dividend yield at 1.51%, compared with 0.00% for FGRO.

What is the main difference between LENS and FGRO?

LENS is categorized as Global Equities, while FGRO is Large Cap Growth Equities. They also come from different issuers: Alpha Architect and Fidelity. Their fees differ too: 0.79% for LENS and 0.59% for FGRO.