I have a smartwatch, but it won't help at all when leaving your phone in an Uber/Lyft which takes off. You will then be left with the awareness of having just left your phone rather than actually your phone.
>With your Apple Watch, in the Find My app, or on the web at iCloud.com/find, you can play a sound to help find your device if it's nearby or find it on a map.
It can be tracked but that is entirely different from not losing it in the first place, which is what a lanyard does. Imagine leaving it on a public bus... good luck ever getting that back.