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DRAM

GradeCChicago Board Options Exchange

Roundhill Memory ETF

Themes · Roundhill Investments · Inception 2026-04-02

$62.07−1.55 (−2.44%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Apr 2, 2026.History starts Apr 2, 2026.History starts Apr 2, 2026.
Intraday session: down, 59 prints from 63.62 to 62.07. Range 61.60 to 63.10. Use the arrow keys to read each point.$61.50$62.50$63.0010 AM12 PM2 PM4 PM
Expense ratio
0.65%
Fund size
$27.1B
1Y return
—
Yield · Last 12 months
—
Holdings
14
Volume · 30D
52M sh
NAV per share
$62.44
52W range
low $26.14high $81.34

The ETF.net DRAM Grade

C

45/ 100

Rank 12 of 25 in Semiconductors⁠

Confidence Medium

Six-pillar profile for DRAM. Scores out of 100: Cost 40, Risk 39, Mission not scored, Tradability 55, Holdings not scored, Durability 77. Strongest: Durability (77). Weakest: Risk (39). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 45 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 40
    Category rank15/25 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 39
    Category rank10/15 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 55
    Category rank9/25 · top 36%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 77
    Category rank7/25 · top 28%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on DRAM

ETF.net Research

CMost chip ETFs own memory in passing. DRAM makes it the whole point: an actively managed, global basket of companies that earn at least half their money from memory technology like HBM, DRAM and NAND.

Stated mandate

DRAM is an actively managed ETF investing primarily in equity securities of memory companies. Eligible companies derive at least half of their revenues or profits from semiconductor memory technologies such as HBM, DRAM, NAND, NOR, HDD, or specialty and embedded memory.

Why people hold it

  1. 01A purity screen with teeth: to qualify, a company must derive at least half its revenue or profit from memory tech (HBM, DRAM, NAND, NOR, HDD, embedded), so the theme stays undiluted.roundhillinvestments.com
  2. 02Actively managed and global in reach, so the roster can shift across the memory supply chain as conditions change rather than waiting on an index reconstitution calendar.roundhillinvestments.com
  3. 03Straightforward plumbing: a 1940 Act equity fund holding stocks, not a leveraged or commodity-style wrapper, so no K-1 and no daily reset math to track.roundhillinvestments.com

Worth knowing

  1. 01Costs 0.65% a year, roughly double the typical semiconductor ETF. Broad chip funds such as SOXX and SMH already hold the big memory names for a fraction of that.
  2. 02It is one narrow slice of the chip world. The half-revenue test keeps the lineup small and concentrated, which can mean sharper swings than a diversified semiconductor fund.
  3. 03A 2026 launch, so there is little history to judge it by, and it has not been paying distributions, meaning any return has to come from share price.

DRAM Holdings

As of Sep 20, 2026, 5:42 AM
Asset class
Stocks
Holdings
14
Top-10 weight
109%
Largest holding
005930.KS18.3%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001005930.KSSamsung Electronics Co Ltd18.28%25,001,504$4.7B176
002000660.KSSK hynix Inc17.39%3,342,499$4.5B184
003595112103 TRS 050427 NMMICRON TECHNOLOGY INC SWAP NM15.94%4,052,306$4.1B1
004FGXXXFirst American Government Obligations Fund 12/01/203114.68%3,791,479,706$3.8B86
005912797VP9United States Treasury Bill 11/03/202611.57%3,000,000,000$3.0B13
006595112103 TRS 052427 GSMICRON TECHNOLOGY, INC.-SWAP-GOLD-L9.47%2,407,575$2.4B1
0076771720 TRS 052427 GSSAMSUNG ELECTRONICS -SWAP-GOLD-L5.77%7,886,239$1.5B1
0086450267 TRS 052427 GSSK HYNIX INC-SWAP-GOLD-L5.56%1,068,542$1.4B1
009BTMTQT8 TRS 052427 GSCXMT CORPORATION-SWAP-GOLD-L5.15%160,294,878$1.3B1
010SNDKSandisk Corp4.97%715,918$1.3B450
011STXSeagate Technology Holdings PLC4.53%1,361,890$1.2B434
012912797UK1United States Treasury Bill 10/15/20263.86%1,000,000,000$998M53
013912797VA2United States Treasury Bill 12/03/20263.84%1,000,000,000$992M16
014912797WN3United States Treasury Bill 01/05/20273.83%1,000,000,000$988M3
015WDCWestern Digital Corp3.60%2,108,747$931M478

Showing 1–15 of 26 holdings

DRAM Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DRAM$7,882
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. DRAM $7,882. SPY $10,415. Use the arrow keys to read each point.$5,165$8,003$10,841Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DRAM. Periods over one year show the average yearly return.
PeriodDRAM
Year to dateFund launched this year—
1 month+10.3%
3 months−21.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DRAM
YearReturn barDRAM
2026 YTD+129.2%

Since listing, Apr 2, 2026

DRAM in the news

DRAM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Apr 2026. No distributions yet.

DRAM Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
9.96
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DRAM Cost

Expense ratio0.65%
  • The middle half of Semiconductors funds
  • Median 0.60%

13 of the 25 Semiconductors funds charge less.

DRAM costs $65.00 a year on $10,000. The median Semiconductors fund costs $60.00.