LENS vs. UFO

Last updated Jun 24, 2026

LENS (Sarmaya Thematic ETF) and UFO (Procure Space ETF) are both Global Equities funds. LENS is actively managed, while UFO is passively managed. Over the past year, LENS returned 43.94% vs 76.34% for UFO. At a 0.38 correlation, their price movements are largely independent. LENS charges 0.79%/yr vs 0.75%/yr for UFO.

Performance

LENS vs. UFO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sarmaya Thematic ETF (LENS) and Procure Space ETF (UFO). 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 lower than UFO's 24.53% return.

LENS

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

UFO

• 1D: -1.21%
• 1M: -22.25%
• YTD: 24.53%
• 6M: 20.15%
• 1Y: 76.34%
• 3Y*: 39.04%
• 5Y*: 11.11%
• 10Y*: —

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

LENS vs. UFO - Yearly Performance Comparison

	2026 (YTD)	2025
LENS Sarmaya Thematic ETF	2.62%	56.41%
UFO Procure Space ETF	24.53%	57.40%

Correlation

The correlation between LENS and UFO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jan 29, 2025	0.38

Return for Risk

LENS vs. UFO — 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

UFO

UFO Risk / Return Rank: 54
UFO Sharpe Ratio Rank: 59
UFO Sortino Ratio Rank: 53
UFO Omega Ratio Rank: 48
UFO Calmar Ratio Rank: 56
UFO Martin Ratio Rank: 54

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. UFO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sarmaya Thematic ETF (LENS) and Procure Space ETF (UFO). 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	UFO	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.89	-0.29
Sortino ratio: Return per unit of downside risk	1.98	2.47	-0.50
Omega ratio: Gain probability vs. loss probability	1.29	1.29	-0.01
Calmar ratio: Return relative to maximum drawdown	2.03	2.64	-0.62
Martin ratio: Return relative to average drawdown	5.91	9.06	-3.15

LENS vs. UFO - Sharpe Ratio Comparison

The current LENS Sharpe Ratio is 1.60, which is comparable to the UFO Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of LENS and UFO, 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. UFO - Drawdown Comparison

The maximum LENS drawdown since its inception was -21.79%, smaller than the maximum UFO drawdown of -50.33%. Use the drawdown chart below to compare losses from any high point for LENS and UFO.

Drawdown Indicators

	LENS	UFO	Difference
Max Drawdown Largest peak-to-trough decline	-21.79%	-50.33%	+28.54%
Max Drawdown (1Y) Largest decline over 1 year	-21.79%	-29.02%	+7.23%
Max Drawdown (3Y) Largest decline over 3 years	—	-29.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-50.33%	—
Current Drawdown Current decline from peak	-21.79%	-29.02%	+7.23%
Average Drawdown Average peak-to-trough decline	-4.24%	-21.81%	+17.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.46%	8.46%	-1.00%

Volatility

LENS vs. UFO - Volatility Comparison

The current volatility for Sarmaya Thematic ETF (LENS) is 8.43%, while Procure Space ETF (UFO) has a volatility of 19.63%. This indicates that LENS experiences smaller price fluctuations and is considered to be less risky than UFO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LENS	UFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.43%	19.63%	-11.20%
Volatility (6M) Calculated over the trailing 6-month period	23.15%	33.65%	-10.50%
Volatility (1Y) Calculated over the trailing 1-year period	27.68%	40.71%	-13.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.88%	30.64%	-4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.88%	31.16%	-5.28%

LENS vs. UFO - Expense Ratio Comparison

LENS has a 0.79% expense ratio, which is higher than UFO's 0.75% expense ratio.

Dividends

LENS vs. UFO - Dividend Comparison

LENS's dividend yield for the trailing twelve months is around 1.56%, more than UFO's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
LENS Sarmaya Thematic ETF	1.56%	1.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UFO Procure Space ETF	0.34%	0.46%	1.98%	1.90%	3.19%	1.00%	1.07%	0.45%

Frequently Asked Questions

Can I hold both LENS and UFO in my portfolio?

LENS and UFO have a correlation of 0.40, 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 UFO?

UFO has higher volatility (19.63%) compared to LENS (8.43%). In terms of maximum drawdown, LENS dropped -21.79% vs UFO's -50.33%.

Which ETF is better, LENS or UFO?

On 1-year performance, UFO leads with 76.34% vs 43.94% for LENS. On fees, UFO is cheaper at 0.75% per year. On volatility, LENS has been the lower-risk option at 8.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LENS or UFO?

Over the 1-year period, UFO has performed better with a 76.34% return vs 43.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LENS or UFO?

UFO is cheaper with a 0.75% expense ratio, compared with 0.79% for LENS.

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

LENS has the higher dividend yield at 1.56%, compared with 0.34% for UFO.

What is the main difference between LENS and UFO?

They also come from different issuers: Sarmaya Partners and ProcureAM. Their fees differ too: 0.79% for LENS and 0.75% for UFO.

Which has better risk-adjusted returns?

UFO currently has the higher Sharpe Ratio (1.89 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.