diff --git a/sdk/metric/benchmark_test.go b/sdk/metric/benchmark_test.go
index ecd445bb225..a3c3dd8f105 100644
--- a/sdk/metric/benchmark_test.go
+++ b/sdk/metric/benchmark_test.go
@@ -23,6 +23,7 @@ import (
 
 	"go.opentelemetry.io/otel/api/core"
 	"go.opentelemetry.io/otel/api/key"
+	"go.opentelemetry.io/otel/api/metric"
 	export "go.opentelemetry.io/otel/sdk/export/metric"
 	sdk "go.opentelemetry.io/otel/sdk/metric"
 	"go.opentelemetry.io/otel/sdk/metric/aggregator/counter"
@@ -66,6 +67,16 @@ func (bf *benchFixture) AggregatorFor(rec export.Record) export.Aggregator {
 func (bf *benchFixture) Export(ctx context.Context, rec export.Record, agg export.Aggregator) {
 }
 
+func makeLabelSets(n int) [][]core.KeyValue {
+	r := make([][]core.KeyValue, n)
+
+	for i := 0; i < n; i++ {
+		r[i] = makeLabels(1)
+	}
+
+	return r
+}
+
 func makeLabels(n int) []core.KeyValue {
 	used := map[string]bool{}
 	l := make([]core.KeyValue, n)
@@ -117,60 +128,90 @@ func BenchmarkLabels_16(b *testing.B) {
 // Note: performance does not depend on label set size for the
 // benchmarks below.
 
-func BenchmarkInt64CounterAdd(b *testing.B) {
-	ctx := context.Background()
+func BenchmarkAcquireNewHandle(b *testing.B) {
 	fix := newFixture(b)
-	labs := fix.sdk.Labels(makeLabels(1)...)
+	labelSets := makeLabelSets(b.N)
 	cnt := fix.sdk.NewInt64Counter("int64.counter")
+	labels := make([]metric.LabelSet, b.N)
+
+	for i := 0; i < b.N; i++ {
+		labels[i] = fix.sdk.Labels(labelSets[i]...)
+	}
 
 	b.ResetTimer()
 
 	for i := 0; i < b.N; i++ {
-		cnt.Add(ctx, 1, labs)
+		cnt.AcquireHandle(labels[i])
 	}
 }
 
-func BenchmarkInt64CounterAcquireHandle(b *testing.B) {
+func BenchmarkAcquireExistingHandle(b *testing.B) {
 	fix := newFixture(b)
-	labs := fix.sdk.Labels(makeLabels(1)...)
+	labelSets := makeLabelSets(b.N)
 	cnt := fix.sdk.NewInt64Counter("int64.counter")
+	labels := make([]metric.LabelSet, b.N)
+
+	for i := 0; i < b.N; i++ {
+		labels[i] = fix.sdk.Labels(labelSets[i]...)
+		cnt.AcquireHandle(labels[i]).Release()
+	}
 
 	b.ResetTimer()
 
 	for i := 0; i < b.N; i++ {
-		handle := cnt.AcquireHandle(labs)
-		handle.Release()
+		cnt.AcquireHandle(labels[i])
 	}
 }
 
-func BenchmarkInt64CounterHandleAdd(b *testing.B) {
+func BenchmarkAcquireReleaseExistingHandle(b *testing.B) {
+	fix := newFixture(b)
+	labelSets := makeLabelSets(b.N)
+	cnt := fix.sdk.NewInt64Counter("int64.counter")
+	labels := make([]metric.LabelSet, b.N)
+
+	for i := 0; i < b.N; i++ {
+		labels[i] = fix.sdk.Labels(labelSets[i]...)
+		cnt.AcquireHandle(labels[i]).Release()
+	}
+
+	b.ResetTimer()
+
+	for i := 0; i < b.N; i++ {
+		cnt.AcquireHandle(labels[i]).Release()
+	}
+}
+
+// Counters
+
+func BenchmarkInt64CounterAdd(b *testing.B) {
 	ctx := context.Background()
 	fix := newFixture(b)
 	labs := fix.sdk.Labels(makeLabels(1)...)
 	cnt := fix.sdk.NewInt64Counter("int64.counter")
-	handle := cnt.AcquireHandle(labs)
 
 	b.ResetTimer()
 
 	for i := 0; i < b.N; i++ {
-		handle.Add(ctx, 1)
+		cnt.Add(ctx, 1, labs)
 	}
 }
 
-func BenchmarkFloat64CounterAdd(b *testing.B) {
+func BenchmarkInt64CounterHandleAdd(b *testing.B) {
 	ctx := context.Background()
 	fix := newFixture(b)
 	labs := fix.sdk.Labels(makeLabels(1)...)
-	cnt := fix.sdk.NewFloat64Counter("float64.counter")
+	cnt := fix.sdk.NewInt64Counter("int64.counter")
+	handle := cnt.AcquireHandle(labs)
 
 	b.ResetTimer()
 
 	for i := 0; i < b.N; i++ {
-		cnt.Add(ctx, 1.1, labs)
+		handle.Add(ctx, 1)
 	}
 }
 
-func BenchmarkFloat64CounterAcquireHandle(b *testing.B) {
+func BenchmarkFloat64CounterAdd(b *testing.B) {
+	ctx := context.Background()
 	fix := newFixture(b)
 	labs := fix.sdk.Labels(makeLabels(1)...)
 	cnt := fix.sdk.NewFloat64Counter("float64.counter")
@@ -178,8 +219,7 @@ func BenchmarkFloat64CounterAcquireHandle(b *testing.B) {
 	b.ResetTimer()
 
 	for i := 0; i < b.N; i++ {
-		handle := cnt.AcquireHandle(labs)
-		handle.Release()
+		cnt.Add(ctx, 1.1, labs)
 	}
 }
 
@@ -212,19 +252,6 @@ func BenchmarkInt64GaugeAdd(b *testing.B) {
 	}
 }
 
-func BenchmarkInt64GaugeAcquireHandle(b *testing.B) {
-	fix := newFixture(b)
-	labs := fix.sdk.Labels(makeLabels(1)...)
-	gau := fix.sdk.NewInt64Gauge("int64.gauge")
-
-	b.ResetTimer()
-
-	for i := 0; i < b.N; i++ {
-		handle := gau.AcquireHandle(labs)
-		handle.Release()
-	}
-}
-
 func BenchmarkInt64GaugeHandleAdd(b *testing.B) {
 	ctx := context.Background()
 	fix := newFixture(b)
@@ -252,19 +279,6 @@ func BenchmarkFloat64GaugeAdd(b *testing.B) {
 	}
 }
 
-func BenchmarkFloat64GaugeAcquireHandle(b *testing.B) {
-	fix := newFixture(b)
-	labs := fix.sdk.Labels(makeLabels(1)...)
-	gau := fix.sdk.NewFloat64Gauge("float64.gauge")
-
-	b.ResetTimer()
-
-	for i := 0; i < b.N; i++ {
-		handle := gau.AcquireHandle(labs)
-		handle.Release()
-	}
-}
-
 func BenchmarkFloat64GaugeHandleAdd(b *testing.B) {
 	ctx := context.Background()
 	fix := newFixture(b)
@@ -294,19 +308,6 @@ func benchmarkInt64MeasureAdd(b *testing.B, name string) {
 	}
 }
 
-func benchmarkInt64MeasureAcquireHandle(b *testing.B, name string) {
-	fix := newFixture(b)
-	labs := fix.sdk.Labels(makeLabels(1)...)
-	mea := fix.sdk.NewInt64Measure(name)
-
-	b.ResetTimer()
-
-	for i := 0; i < b.N; i++ {
-		handle := mea.AcquireHandle(labs)
-		handle.Release()
-	}
-}
-
 func benchmarkInt64MeasureHandleAdd(b *testing.B, name string) {
 	ctx := context.Background()
 	fix := newFixture(b)
@@ -334,19 +335,6 @@ func benchmarkFloat64MeasureAdd(b *testing.B, name string) {
 	}
 }
 
-func benchmarkFloat64MeasureAcquireHandle(b *testing.B, name string) {
-	fix := newFixture(b)
-	labs := fix.sdk.Labels(makeLabels(1)...)
-	mea := fix.sdk.NewFloat64Measure(name)
-
-	b.ResetTimer()
-
-	for i := 0; i < b.N; i++ {
-		handle := mea.AcquireHandle(labs)
-		handle.Release()
-	}
-}
-
 func benchmarkFloat64MeasureHandleAdd(b *testing.B, name string) {
 	ctx := context.Background()
 	fix := newFixture(b)
@@ -367,10 +355,6 @@ func BenchmarkInt64MaxSumCountAdd(b *testing.B) {
 	benchmarkInt64MeasureAdd(b, "int64.maxsumcount")
 }
 
-func BenchmarkInt64MaxSumCountAcquireHandle(b *testing.B) {
-	benchmarkInt64MeasureAcquireHandle(b, "int64.maxsumcount")
-}
-
 func BenchmarkInt64MaxSumCountHandleAdd(b *testing.B) {
 	benchmarkInt64MeasureHandleAdd(b, "int64.maxsumcount")
 }
@@ -379,10 +363,6 @@ func BenchmarkFloat64MaxSumCountAdd(b *testing.B) {
 	benchmarkFloat64MeasureAdd(b, "float64.maxsumcount")
 }
 
-func BenchmarkFloat64MaxSumCountAcquireHandle(b *testing.B) {
-	benchmarkFloat64MeasureAcquireHandle(b, "float64.maxsumcount")
-}
-
 func BenchmarkFloat64MaxSumCountHandleAdd(b *testing.B) {
 	benchmarkFloat64MeasureHandleAdd(b, "float64.maxsumcount")
 }
@@ -393,10 +373,6 @@ func BenchmarkInt64DDSketchAdd(b *testing.B) {
 	benchmarkInt64MeasureAdd(b, "int64.ddsketch")
 }
 
-func BenchmarkInt64DDSketchAcquireHandle(b *testing.B) {
-	benchmarkInt64MeasureAcquireHandle(b, "int64.ddsketch")
-}
-
 func BenchmarkInt64DDSketchHandleAdd(b *testing.B) {
 	benchmarkInt64MeasureHandleAdd(b, "int64.ddsketch")
 }
@@ -405,10 +381,6 @@ func BenchmarkFloat64DDSketchAdd(b *testing.B) {
 	benchmarkFloat64MeasureAdd(b, "float64.ddsketch")
 }
 
-func BenchmarkFloat64DDSketchAcquireHandle(b *testing.B) {
-	benchmarkFloat64MeasureAcquireHandle(b, "float64.ddsketch")
-}
-
 func BenchmarkFloat64DDSketchHandleAdd(b *testing.B) {
 	benchmarkFloat64MeasureHandleAdd(b, "float64.ddsketch")
 }
@@ -419,10 +391,6 @@ func BenchmarkInt64ArrayAdd(b *testing.B) {
 	benchmarkInt64MeasureAdd(b, "int64.array")
 }
 
-func BenchmarkInt64ArrayAcquireHandle(b *testing.B) {
-	benchmarkInt64MeasureAcquireHandle(b, "int64.array")
-}
-
 func BenchmarkInt64ArrayHandleAdd(b *testing.B) {
 	benchmarkInt64MeasureHandleAdd(b, "int64.array")
 }
@@ -431,10 +399,6 @@ func BenchmarkFloat64ArrayAdd(b *testing.B) {
 	benchmarkFloat64MeasureAdd(b, "float64.array")
 }
 
-func BenchmarkFloat64ArrayAcquireHandle(b *testing.B) {
-	benchmarkFloat64MeasureAcquireHandle(b, "float64.array")
-}
-
 func BenchmarkFloat64ArrayHandleAdd(b *testing.B) {
 	benchmarkFloat64MeasureHandleAdd(b, "float64.array")
 }
diff --git a/sdk/metric/sdk.go b/sdk/metric/sdk.go
index 2f8b16dba36..a06c4d34808 100644
--- a/sdk/metric/sdk.go
+++ b/sdk/metric/sdk.go
@@ -159,12 +159,19 @@ func (i *instrument) Meter() api.Meter {
 }
 
 func (i *instrument) acquireHandle(ls *labels) *record {
-	// Create lookup key for sync.Map
+	// Create lookup key for sync.Map (one allocation)
 	mk := mapkey{
 		descriptor: i.descriptor,
 		encoded:    ls.encoded,
 	}
 
+	if actual, ok := i.meter.current.Load(mk); ok {
+		// Existing record case, only one allocation so far.
+		rec := actual.(*record)
+		atomic.AddInt64(&rec.refcount, 1)
+		return rec
+	}
+
 	// There's a memory allocation here.
 	rec := &record{
 		labels:         ls,
@@ -174,6 +181,8 @@ func (i *instrument) acquireHandle(ls *labels) *record {
 		modifiedEpoch:  0,
 	}
 
+	rec.recorder = i.meter.exporter.AggregatorFor(rec)
+
 	// Load/Store: there's a memory allocation to place `mk` into
 	// an interface here.
 	if actual, loaded := i.meter.current.LoadOrStore(mk, rec); loaded {
@@ -182,7 +191,6 @@ func (i *instrument) acquireHandle(ls *labels) *record {
 		atomic.AddInt64(&rec.refcount, 1)
 		return rec
 	}
-	rec.recorder = i.meter.exporter.AggregatorFor(rec)
 
 	i.meter.addPrimary(rec)
 	return rec