SIMS vs. LENS

Last updated Jun 4, 2026

SIMS (SPDR S&P Kensho Intelligent Structures ETF) and LENS (Sarmaya Thematic ETF) are both Global Equities funds. SIMS is passively managed, while LENS is actively managed. Over the past year, SIMS returned 39.98% vs 61.82% for LENS. At a 0.31 correlation, their price movements are largely independent. SIMS charges 0.45%/yr vs 0.79%/yr for LENS.

Performance

SIMS vs. LENS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Kensho Intelligent Structures ETF (SIMS) and Sarmaya Thematic ETF (LENS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SIMS having a 13.06% return and LENS slightly higher at 13.33%.

SIMS

• 1D: -0.74%
• 1M: 1.83%
• YTD: 13.06%
• 6M: 9.06%
• 1Y: 39.98%
• 3Y*: 12.52%
• 5Y*: 0.71%
• 10Y*: —

LENS

• 1D: -1.54%
• 1M: -1.68%
• YTD: 13.33%
• 6M: 18.33%
• 1Y: 61.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIMS vs. LENS - Yearly Performance Comparison

	2026 (YTD)	2025
SIMS SPDR S&P Kensho Intelligent Structures ETF	13.06%	24.35%
LENS Sarmaya Thematic ETF	13.33%	56.21%

Correlation

The correlation between SIMS and LENS is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025	0.31

Return for Risk

SIMS vs. LENS — Risk / Return Rank

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

SIMS

SIMS Risk / Return Rank: 48
SIMS Sharpe Ratio Rank: 51
SIMS Sortino Ratio Rank: 46
SIMS Omega Ratio Rank: 47
SIMS Calmar Ratio Rank: 52
SIMS Martin Ratio Rank: 42

LENS

LENS Risk / Return Rank: 67
LENS Sharpe Ratio Rank: 72
LENS Sortino Ratio Rank: 57
LENS Omega Ratio Rank: 68
LENS Calmar Ratio Rank: 79
LENS Martin Ratio Rank: 58

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.

SIMS vs. LENS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Intelligent Structures ETF (SIMS) 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.

	SIMS	LENS	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.34	-0.60
Sortino ratio: Return per unit of downside risk	2.31	2.70	-0.40
Omega ratio: Gain probability vs. loss probability	1.30	1.41	-0.11
Calmar ratio: Return relative to maximum drawdown	2.54	4.02	-1.47
Martin ratio: Return relative to average drawdown	6.65	10.02	-3.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIMS vs. LENS - Sharpe Ratio Comparison

The current SIMS Sharpe Ratio is 1.74, which is comparable to the LENS Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of SIMS and LENS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SIMS	LENS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	2.34	-0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	2.09	-1.84

Drawdowns

SIMS vs. LENS - Drawdown Comparison

The maximum SIMS drawdown since its inception was -43.97%, which is greater than LENS's maximum drawdown of -15.47%. Use the drawdown chart below to compare losses from any high point for SIMS and LENS.

Drawdown Indicators

	SIMS	LENS	Difference
Max Drawdown Largest peak-to-trough decline	-43.97%	-15.47%	-28.50%
Max Drawdown (1Y) Largest decline over 1 year	-15.79%	-15.47%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-28.78%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.97%	—	—
Current Drawdown Current decline from peak	-0.74%	-13.64%	+12.90%
Average Drawdown Average peak-to-trough decline	-16.09%	-3.71%	-12.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.03%	6.19%	-0.16%

Volatility

SIMS vs. LENS - Volatility Comparison

The current volatility for SPDR S&P Kensho Intelligent Structures ETF (SIMS) is 5.15%, while Sarmaya Thematic ETF (LENS) has a volatility of 6.16%. This indicates that SIMS experiences smaller price fluctuations and is considered to be less risky than LENS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIMS	LENS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	6.16%	-1.01%
Volatility (6M) Calculated over the trailing 6-month period	14.95%	22.07%	-7.12%
Volatility (1Y) Calculated over the trailing 1-year period	23.26%	26.54%	-3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.08%	25.49%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.02%	25.49%	+0.53%

SIMS vs. LENS - Expense Ratio Comparison

SIMS has a 0.45% expense ratio, which is lower than LENS's 0.79% expense ratio.

Dividends

SIMS vs. LENS - Dividend Comparison

SIMS's dividend yield for the trailing twelve months is around 0.57%, less than LENS's 1.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
LENS Sarmaya Thematic ETF	1.41%	1.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SIMS SPDR S&P Kensho Intelligent Structures ETF	0.57%	0.66%	0.88%	1.49%	1.48%	0.97%	0.58%	1.24%	0.85%

Frequently Asked Questions

Can I hold both SIMS and LENS in my portfolio?

SIMS and LENS have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIMS or LENS?

LENS has higher volatility (6.16%) compared to SIMS (5.15%). In terms of maximum drawdown, SIMS dropped -43.97% vs LENS's -15.47%.

Which ETF is better, SIMS or LENS?

On 1-year performance, LENS leads with 61.82% vs 39.98% for SIMS. On fees, SIMS is cheaper at 0.45% per year. On volatility, SIMS has been the lower-risk option at 5.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIMS or LENS?

Over the 1-year period, LENS has performed better with a 61.82% return vs 39.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIMS or LENS?

SIMS is cheaper with a 0.45% expense ratio, compared with 0.79% for LENS.

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

LENS has the higher dividend yield at 1.41%, compared with 0.57% for SIMS.

What is the main difference between SIMS and LENS?

They also come from different issuers: State Street and Sarmaya Partners. Their fees differ too: 0.45% for SIMS and 0.79% for LENS.

Which has better risk-adjusted returns?

LENS currently has the higher Sharpe Ratio (2.34 vs 1.74), 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.