Data as of .
FMED vs LENS: which is really different?
FMED and LENS hold 0% of their weight in the same names, and LENS returned more over the year.
ETFIQ Off-Index Score: LENS scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
0% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, FMED and LENS hold 0% of their money in the same securities at the same weight.
| Only in FMED | Only in LENS |
|---|---|
| UCB SA 4.75% | SPDR Gold MiniShares Trust 9.04% |
| LIFESTANCE HEALTH GROUP INC 4.29% | iShares Gold Trust Micro 5.81% |
| DANAHER CORP 3.43% | Chevron Corp 4.22% |
| 10X GENOMICS INC 3.12% | Exxon Mobil Corp 4.22% |
| INTUITIVE SURGICAL INC 2.93% | iShares Silver Trust 4.22% |
| COGENT BIOSCIENCES INC 2.86% | Kinross Gold Corp 3.96% |
| ALNYLAM PHARMACEUTICALS INC 2.80% | Agnico Eagle Mines Ltd 3.03% |
| ARGENX SE 2.79% | Gold Fields Ltd 2.85% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated May 29, 2026 and May 31, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| FMED | LENS | FMED | LENS | FMED | LENS | |
| 3 months | +21.3% | +12.1% | +19.0 pts | +9.9 pts | +23.7 pts | +14.6 pts |
| 6 months | +32.3% | +6.7% | +14.3 pts | −11.3 pts | +8.0 pts | −17.5 pts |
| 1 year | +28.3% | +46.4% | +11.7 pts | +29.8 pts | +6.5 pts | +24.6 pts |
| 3 years | +39.6% | not published | −38.8 pts | not published | −58.5 pts | not published |
| Since launch | +25.8% | +84.9% | −57.6 pts | +55.8 pts | −78.1 pts | +45.4 pts |
| FMED Fidelity Disruptive Medicine ETF Holds 68 stocks in broad innovation and megatrends, 25% of its weight in S&P 500 companies | LENS Sarmaya Thematic ETF Holds 43 stocks in broad innovation and megatrends, 22% 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 | 25.4% | 21.7% |
| Active share vs the S&P 500 | 97.1% | 97.9% |
| In the Nasdaq-100 | 8.7% | 1.7% |
| Holdings | 68 | 43 |
| Top ten, share of the fund | 31.5% | 42.3% |
| Expense ratio | 0.50% | 0.79% |
| Fee for the differing part | 0.51% | 0.81% |
| Total return, 1 year | +28.3% | +46.4% |
| vs the S&P 500 | +11.7 pts | +29.8 pts |
| vs the Nasdaq-100 | +6.5 pts | +24.6 pts |
| Below its high | −3.8% | −9.8% |
| Net assets | $52m | $53m |
FMED in plain words
By weight, 25% of FMED's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 32% of the fund across 68 positions, as filed for May 31, 2026. Over the year to Sep 18, 2026 the fund returned +28.3% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 11.7 pts.
LENS in plain words
By weight, 22% of LENS'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 42% of the fund across 43 positions, as filed for May 29, 2026. Over the year to Sep 18, 2026 the fund returned +46.4% with distributions reinvested against +16.6% for the S&P 500, so a holder was ahead by 29.8 pts. It sits 9.8% 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, which is mostly different names. 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 25% of its weight in S&P 500 names and LENS has 22%, 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
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, FMED against LENS, data as of Sep 18, 2026. https://etfiq.com/compare/themes/fmed-vs-lens Free to use with attribution; the underlying files are at Open data.