LENS vs. FWD
LENS (Sarmaya Thematic ETF) and FWD (AB Disruptors ETF) are both Global Equities funds. Both are actively managed. Over the past year, LENS returned 39.98% vs 62.07% for FWD. At a 0.39 correlation, their price movements are largely independent. LENS charges 0.79%/yr vs 0.65%/yr for FWD.
Performance
LENS vs. FWD - Performance Comparison
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Returns By Period
In the year-to-date period, LENS achieves a -1.00% return, which is significantly lower than FWD's 35.20% return.
LENS
- 1D
- -3.53%
- 1M
- -13.12%
- YTD
- -1.00%
- 6M
- -3.33%
- 1Y
- 39.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FWD
- 1D
- -0.29%
- 1M
- 3.15%
- YTD
- 35.20%
- 6M
- 32.48%
- 1Y
- 62.07%
- 3Y*
- 37.60%
- 5Y*
- —
- 10Y*
- —
LENS vs. FWD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
LENS Sarmaya Thematic ETF | -1.00% | 56.41% |
FWD AB Disruptors ETF | 35.20% | 25.52% |
Correlation
The correlation between LENS and FWD is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2025 | 0.39 |
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Return for Risk
LENS vs. FWD — Risk / Return Rank
LENS
FWD
LENS vs. FWD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sarmaya Thematic ETF (LENS) and AB Disruptors ETF (FWD). 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 | FWD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.39 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.64 | 4.79 | -3.15 |
| Martin ratioReturn relative to average drawdown | 5.26 | 16.19 | -10.93 |
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Drawdowns
LENS vs. FWD - Drawdown Comparison
The maximum LENS drawdown since its inception was -24.55%, smaller than the maximum FWD drawdown of -29.02%. Use the drawdown chart below to compare losses from any high point for LENS and FWD.
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Drawdown Indicators
| LENS | FWD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.55% | -29.02% | +4.47% |
Max Drawdown (1Y)Largest decline over 1 year | -24.55% | -13.03% | -11.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -29.02% | — |
Current DrawdownCurrent decline from peak | -24.55% | -5.16% | -19.39% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -4.06% | -0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.62% | 3.85% | +3.77% |
Volatility
LENS vs. FWD - Volatility Comparison
The current volatility for Sarmaya Thematic ETF (LENS) is 8.97%, while AB Disruptors ETF (FWD) has a volatility of 12.85%. This indicates that LENS experiences smaller price fluctuations and is considered to be less risky than FWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LENS | FWD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.97% | 12.85% | -3.88% |
Volatility (6M)Calculated over the trailing 6-month period | 23.38% | 21.80% | +1.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.92% | 26.73% | +1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.03% | 25.37% | +0.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.03% | 25.37% | +0.66% |
LENS vs. FWD - Expense Ratio Comparison
LENS has a 0.79% expense ratio, which is higher than FWD's 0.65% expense ratio.
Dividends
LENS vs. FWD - Dividend Comparison
LENS's dividend yield for the trailing twelve months is around 1.62%, more than FWD's 0.08% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FWD AB Disruptors ETF | 0.08% | 0.11% | 1.89% |
LENS Sarmaya Thematic ETF | 1.62% | 1.60% | 0.00% |
Frequently Asked Questions
LENS and FWD have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FWD has higher volatility (12.85%) compared to LENS (8.97%). In terms of maximum drawdown, LENS dropped -24.55% vs FWD's -29.02%.
On 1-year performance, FWD leads with 62.07% vs 39.98% for LENS. On fees, FWD is cheaper at 0.65% per year. On volatility, LENS has been the lower-risk option at 8.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FWD has performed better with a 62.07% return vs 39.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FWD is cheaper with a 0.65% expense ratio, compared with 0.79% for LENS.
LENS has the higher dividend yield at 1.62%, compared with 0.08% for FWD.
They also come from different issuers: Sarmaya Partners and AllianceBernstein. Their fees differ too: 0.79% for LENS and 0.65% for FWD.
FWD currently has the higher Sharpe Ratio (2.34 vs 1.44), 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.
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