LENS vs. RBIL

Last updated Jun 24, 2026

LENS (Sarmaya Thematic ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - LENS is a Global Equities fund actively managed by Sarmaya Partners, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. LENS is actively managed, while RBIL is passively managed. Over the past year, LENS returned 43.94% vs 4.07% for RBIL. At a correlation of -0.05, they often move in opposite directions. LENS charges 0.79%/yr vs 0.17%/yr for RBIL.

Performance

LENS vs. RBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sarmaya Thematic ETF (LENS) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LENS achieves a 2.62% return, which is significantly higher than RBIL's 2.32% return.

LENS

• 1D: -2.28%
• 1M: -9.94%
• YTD: 2.62%
• 6M: -0.39%
• 1Y: 43.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RBIL

• 1D: 0.01%
• 1M: -0.19%
• YTD: 2.32%
• 6M: 2.37%
• 1Y: 4.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LENS vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
LENS Sarmaya Thematic ETF	2.62%	53.66%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	2.32%	2.85%

Correlation

The correlation between LENS and RBIL is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025	-0.05

Return for Risk

LENS vs. RBIL — Risk / Return Rank

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

LENS

LENS Risk / Return Rank: 45
LENS Sharpe Ratio Rank: 50
LENS Sortino Ratio Rank: 41
LENS Omega Ratio Rank: 49
LENS Calmar Ratio Rank: 44
LENS Martin Ratio Rank: 40

RBIL

RBIL Risk / Return Rank: 97
RBIL Sharpe Ratio Rank: 97
RBIL Sortino Ratio Rank: 98
RBIL Omega Ratio Rank: 98
RBIL Calmar Ratio Rank: 96
RBIL Martin Ratio Rank: 97

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.

LENS vs. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sarmaya Thematic ETF (LENS) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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	RBIL	Difference
Sharpe ratio: Return per unit of total volatility	1.60	4.35	-2.75
Sortino ratio: Return per unit of downside risk	1.98	6.69	-4.72
Omega ratio: Gain probability vs. loss probability	1.29	2.13	-0.84
Calmar ratio: Return relative to maximum drawdown	2.03	7.82	-5.80
Martin ratio: Return relative to average drawdown	5.91	42.95	-37.05

LENS vs. RBIL - Sharpe Ratio Comparison

The current LENS Sharpe Ratio is 1.60, which is lower than the RBIL Sharpe Ratio of 4.35. The chart below compares the historical Sharpe Ratios of LENS and RBIL, 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

LENS vs. RBIL - Drawdown Comparison

The maximum LENS drawdown since its inception was -21.79%, which is greater than RBIL's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for LENS and RBIL.

Drawdown Indicators

	LENS	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-21.79%	-0.52%	-21.27%
Max Drawdown (1Y) Largest decline over 1 year	-21.79%	-0.52%	-21.27%
Current Drawdown Current decline from peak	-21.79%	-0.50%	-21.29%
Average Drawdown Average peak-to-trough decline	-4.24%	-0.07%	-4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.46%	0.10%	+7.36%

Volatility

LENS vs. RBIL - Volatility Comparison

Sarmaya Thematic ETF (LENS) has a higher volatility of 8.43% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.36%. This indicates that LENS's price experiences larger fluctuations and is considered to be riskier than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LENS	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.43%	0.36%	+8.07%
Volatility (6M) Calculated over the trailing 6-month period	23.15%	0.85%	+22.30%
Volatility (1Y) Calculated over the trailing 1-year period	27.68%	0.95%	+26.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.88%	1.07%	+24.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.88%	1.07%	+24.81%

LENS vs. RBIL - Expense Ratio Comparison

LENS has a 0.79% expense ratio, which is higher than RBIL's 0.17% expense ratio.

Dividends

LENS vs. RBIL - Dividend Comparison

LENS's dividend yield for the trailing twelve months is around 1.56%, less than RBIL's 4.38% yield.

Position	TTM	2025
LENS Sarmaya Thematic ETF	1.56%	1.60%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.38%	3.65%

Frequently Asked Questions

Can I hold both LENS and RBIL in my portfolio?

LENS and RBIL have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LENS or RBIL?

LENS has higher volatility (8.43%) compared to RBIL (0.36%). In terms of maximum drawdown, LENS dropped -21.79% vs RBIL's -0.52%.

Which ETF is better, LENS or RBIL?

On 1-year performance, LENS leads with 43.94% vs 4.07% for RBIL. On fees, RBIL is cheaper at 0.17% per year. On volatility, RBIL has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LENS or RBIL?

Over the 1-year period, LENS has performed better with a 43.94% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LENS or RBIL?

RBIL is cheaper with a 0.17% expense ratio, compared with 0.79% for LENS.

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

RBIL has the higher dividend yield at 4.38%, compared with 1.56% for LENS.

What is the main difference between LENS and RBIL?

LENS is categorized as Global Equities, while RBIL is Inflation-Protected Bonds. They also come from different issuers: Sarmaya Partners and F/m. Their fees differ too: 0.79% for LENS and 0.17% for RBIL.

Which has better risk-adjusted returns?

RBIL currently has the higher Sharpe Ratio (4.35 vs 1.60), 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.