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Data as of Nov 4, 2026.

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Thematic ETFs

LENS vs TMAT: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, LENS returned +28.3% to TMAT's −3.1%; 1% of their weight is in the same names.

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Net assets: $67m on Aug 31, 2026 for Sarmaya Thematic ETF, and $237m on Jul 31, 2026 for Main Thematic Innovation ETF.

LENS on its own →TMAT on its own →
At a glance
16.0%
LENS in the S&P 500
50.3%
TMAT in the S&P 500
+28.3%
LENS total return, 1 year
−3.1%
TMAT total return, 1 year
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.

TMAT · 1 year to Nov 4, 2026 50% of its weight is outside the S&P 500
50% of its weight is outside the S&P 50050% of TMAT's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jul 31, 2026.50%50%of its weight in S&P 500 companiesof its weight outside the S&P 500active share 92% · top ten 27% of the fund · 87 holdings as filed for Jul 31, 2026 · Nasdaq-100: 29% in50% of its weight is outside the S&P 50050% of TMAT's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jul 31, 2026.50%50%in the S&P 500outside the S&P 500active share 92% · Nasdaq-100: 29% in

50% of TMAT's weight is in S&P 500 companies and 50% is outside the index. Holdings as of Jul 31, 2026.

Pair scorecard

Both cost 0.79% a year; their one-year returns differ by 31.4 points.

Points (pts) are percentage points.

LENS vs TMAT: Holdings Overlap & Returns
MeasureLENSTMAT
Return
Total return, 1 year+28.3%−3.1%
Drawdown
Below its all-time high17.6%, high on Feb 27, 202615.9%, high on Jun 30, 2026
Against its benchmark
What it tracksBroad innovation and megatrendsBroad innovation and megatrends
Its benchmark, total return, 1 year+14.3%+15.0%
Against its benchmark, 1 yearahead by 14.0 ptsbehind by 18.1 pts
Cost and size
Expense ratio0.79%0.79%
Net assets, LENS as of Aug 31, 2026 and TMAT as of Jul 31, 2026$67m$237m
Holdings
Holdings in common1%

Method

What they share

1%

By the books each fund has filed, LENS and TMAT hold 1% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Aug 31, 2026.

0 half 100%

half

1% in common

Positions both hold · largest shared weight first LENS TMAT
Hudbay Minerals Inc 1.06% 1.18%
Only in one fund ↓
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%
Only in TMAT
PALO ALTO NETWORKS INC 4.46%
MICRON TECHNOLOGY INC 4.23%
CROWDSTRIKE HOLDINGS INC 2.77%
FORTINET INC 2.63%
CLEAR SECURE INC 2.43%
VICOR CORP 2.18%
HINGE HEALTH INC 2.09%
LUMENTUM HOLDINGS INC 2.06%
Check overlap with more funds →

Window by window

Window by window: LENS vs TMAT: Holdings Overlap & Returns
Total returnvs its benchmark
WindowLENSTMATLENSTMAT
3 months−0.5%−9.4%−0.3 pts vs BKLC−8.1 pts vs ACWI
6 months−7.8%−4.9%−12.7 pts vs BKLC−7.5 pts vs ACWI
1 year+28.3%−3.1%+14.0 pts vs BKLC−18.1 pts vs ACWI
3 years–+92.3%–+14.7 pts vs ACWI
Since launchNot the same days: LENS Jan 2025 · TMAT Jan 2021+68.9%+7.5%+39.1 pts vs BKLC−85.1 pts vs ACWI

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Side by side

LENS Sarmaya Thematic ETF · Holds 45 stocks in broad innovation and megatrends, 16% of its weight in S&P 500 companies TMAT Main Thematic Innovation ETF · Holds 87 stocks in broad innovation and megatrends, 50% of its weight in S&P 500 companies
Issuer Sarmaya Main
Theme Broad innovation and megatrends Broad innovation and megatrends
In the S&P 500 16.0% 50.3%
Active share vs the S&P 500 98.9% 91.6%
In the Nasdaq-100 1.6% 29.4%
Holdings 45 87
Top ten, share of the fund 40.3% 26.9%
Expense ratio 0.79% 0.79%
Fee for the differing part 0.80% 0.86%
Total return, 1 year +28.3% −3.1%
vs its benchmark +14.0 pts vs BKLC −18.1 pts vs ACWI
Below its high −17.6% −15.9%
Net assets, LENS as of Aug 31, 2026 and TMAT as of Jul 31, 2026 $67m $237m

As of Nov 4, 2026. Source: ETFIQ.

1% of the two portfolios are the same securities at the same weight.

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About each fund
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.

TMAT

By weight, 50% of TMAT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 27% of the fund across 87 positions, as filed for Jul 31, 2026. Over the year to Nov 4, 2026 the fund returned −3.1% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Index Net, so a holder was behind by 18.1 pts. It sits 15.9% below its all-time high of Jun 30, 2026.

Questions people ask

Do LENS and TMAT hold the same stocks?
By their latest filings, 1% 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, LENS or TMAT?
LENS has 16% of its weight in S&P 500 names and TMAT has 50%, so LENS differs more from the index.
Which is cheaper, LENS or TMAT?
LENS and TMAT both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.
Other comparisons
LENS vs GTEKLENS vs FRWDLENS vs FDTXLENS vs QQQJTMAT vs TEKYTMAT vs DTECTMAT vs THMZTMAT vs FDCF
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →LENS on its own →TMAT on its own →LENS dividend history →LENS holdings →TMAT dividend history →TMAT holdings →Method →Standards and sources →
Sources and dates
LENS filings on SEC EDGAR ↗
LENS prospectus with the expense ratio (SEC) ↗
Sarmaya page for LENS ↗
TMAT filings on SEC EDGAR ↗
TMAT prospectus with the expense ratio (SEC) ↗
Main website ↗

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.

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

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