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Data as of Nov 4, 2026.

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Thematic ETFs

FMED vs LENS: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, FMED returned +27.4% to LENS's +28.3%; 0% of their weight is in the same names.

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Net assets: $52m on Sep 30, 2026 for Fidelity Disruptive Medicine ETF, and $67m on Aug 31, 2026 for Sarmaya Thematic ETF.

FMED on its own →LENS on its own →
At a glance
21.8%
FMED in the S&P 500
16.0%
LENS in the S&P 500
+27.4%
FMED total return, 1 year
+28.3%
LENS total return, 1 year
FMED · 1 year to Nov 4, 2026 78% of its weight is outside the S&P 500
78% of its weight is outside the S&P 50022% of FMED's weight is in S&P 500 companies and 78% is outside the index. Holdings as of Aug 31, 2026.22%78%in the S&P 500of its weight outside the S&P 500active share 98% · top ten 33% of the fund · 72 holdings as filed for Aug 31, 2026 · Nasdaq-100: 5% in78% of its weight is outside the S&P 50022% of FMED's weight is in S&P 500 companies and 78% is outside the index. Holdings as of Aug 31, 2026.22%78%inoutside the S&P 500active share 98% · Nasdaq-100: 5% in

22% of FMED's weight is in S&P 500 companies and 78% is outside the index. Holdings as of Aug 31, 2026.

LENS · 1 year to Nov 4, 2026 84% of its weight is outside the S&P 500
84% of its weight is outside the S&P 50016% of LENS's weight is in S&P 500 companies and 84% is outside the index. Holdings as of Aug 31, 2026.16%84%in the S&P 500of its weight outside the S&P 500active share 99% · top ten 40% of the fund · 45 holdings as filed for Aug 31, 2026 · Nasdaq-100: 2% in84% of its weight is outside the S&P 50016% of LENS's weight is in S&P 500 companies and 84% is outside the index. Holdings as of Aug 31, 2026.16%84%inof its weight outside the S&P 500active share 99% · Nasdaq-100: 2% in

16% of LENS's weight is in S&P 500 companies and 84% is outside the index. Holdings as of Aug 31, 2026.

Pair scorecard

FMED costs 0.29 points a year less; their one-year returns differ by 0.9 points; LENS is 1.3 times larger.

Points (pts) are percentage points.

FMED vs LENS: Holdings Overlap & Returns
MeasureFMEDLENS
Return
Total return, 1 year+27.4%+28.3%
Drawdown
Below its all-time high17.6%, high on Feb 27, 2026
Against its benchmark
What it tracksBroad innovation and megatrendsBroad innovation and megatrends
Its benchmark, total return, 1 year+14.3%
Against its benchmark, 1 yearahead by 14.0 pts
Cost and size
Expense ratio0.50%0.79%
Net assets, as of Aug 31, 2026$52m$67m
Holdings
Holdings in common0%

Method

What they share

0%

By the books each fund has filed, FMED and LENS hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first FMED LENS
Only in one fund ↓
Only in FMED
10X GENOMICS INC 5.19%
THERMO FISHER SCIENTIFIC INC 3.83%
DANAHER CORP 3.73%
NATERA INC 3.30%
ARGENX SE 3.20%
LIFESTANCE HEALTH GROUP INC 3.00%
REVOLUTION MEDICINES INC 2.87%
ILLUMINA INC 2.82%
Only in LENS
SPDR Gold MiniShares Trust 8.14%
iShares Gold Trust Micro 5.23%
Chevron Corp 4.38%
ExxonMobil Holdings Corp 4.30%
Kinross Gold Corp 3.70%
iShares Silver Trust 3.41%
Agnico Eagle Mines Ltd 3.09%
Gold Fields Ltd 3.05%
Check overlap with more funds →

Window by window

Window by window: FMED vs LENS: Holdings Overlap & Returns
Total returnvs its benchmark
WindowFMEDLENSFMEDLENS
3 months+14.9%−0.5%not measured−0.3 pts vs BKLC
6 months+31.2%−7.8%not measured−12.7 pts vs BKLC
1 year+27.4%+28.3%not measured+14.0 pts vs BKLC
3 years+57.8%–not measured–
Since launchNot the same days: FMED Jun 2023 · LENS Jan 2025+31.7%+68.9%not measured+39.1 pts vs BKLC

– means no data for this window. Open this comparison in the app →

Side by side

FMED Fidelity Disruptive Medicine ETF · Holds 72 stocks in broad innovation and megatrends, 22% of its weight in S&P 500 companies LENS Sarmaya Thematic ETF · Holds 45 stocks in broad innovation and megatrends, 16% of its weight in S&P 500 companies
Issuer Fidelity Sarmaya
Theme Broad innovation and megatrends Broad innovation and megatrends
In the S&P 500 21.8% 16.0%
Active share vs the S&P 500 97.5% 98.9%
In the Nasdaq-100 5.1% 1.6%
Holdings 72 45
Top ten, share of the fund 33.2% 40.3%
Expense ratio 0.50% 0.79%
Fee for the differing part 0.51% 0.80%
Total return, 1 year +27.4% +28.3%
vs its benchmark not measured +14.0 pts vs BKLC
Below its high −0.9% −17.6%
Net assets, FMED as of Sep 30, 2026 and LENS as of Aug 31, 2026 $52m $67m

As of Nov 4, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

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About each fund
FMED

By weight, 22% of FMED's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 33% of the fund across 72 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned +27.4% with distributions reinvested.

LENS

By weight, 16% of LENS's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 40% of the fund across 45 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned +28.3% with distributions reinvested against +14.3% for its benchmark, the Solactive GBS United States 500 Index, so a holder was ahead by 14.0 pts. It sits 17.6% below its all-time high of Feb 27, 2026.

Questions people ask

Do FMED and LENS hold the same stocks?
By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, FMED or LENS?
FMED has 22% of its weight in S&P 500 names and LENS has 16%, so LENS differs more from the index.
Which is cheaper, FMED or LENS?
FMED charges 0.50% a year and LENS charges 0.79%, so FMED is cheaper. Fees come from each fund's prospectus.
Other comparisons
FMED vs HTECFMED vs TEKYFMED vs DTECFMED vs THMZLENS vs ARKKLENS vs THMZLENS vs TEKYLENS vs AOTG
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →FMED on its own →LENS on its own →FMED dividend history →FMED holdings →LENS dividend history →LENS holdings →Method →Standards and sources →
Sources and dates
FMED filings on SEC EDGAR ↗
FMED prospectus with the expense ratio (SEC) ↗
Fidelity website ↗
LENS filings on SEC EDGAR ↗
LENS prospectus with the expense ratio (SEC) ↗
Sarmaya page for LENS ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, FMED against LENS, data as of Nov 4, 2026. https://etfiq.com/compare/themes/fmed-vs-lens

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.