CHPS vs DRAM

CHPSAXtrackers Semiconductor Select Equity ETF

DRAMCRoundhill Memory ETF

In short

CHPS Semiconductors without the semiconductor markup. CHPS tracks a global chip index with an ESG screen baked in, holds roughly 50 names, and charges 0.15%, undercutting the category's household names.

DRAM Most 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

CHPS The fund seeks investment results corresponding generally to the performance of the Solactive Semiconductor ESG Screened Index before fees and expenses.

DRAM 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

• CHPS At 0.15%, one of the cheapest doors into chips. SMH and SOXX each charge more than double.
• Global mandate, so foreign foundries and equipment makers are in scope, not just the US-listed marquee names.
• The ESG screen sits inside the index itself: the chip universe gets filtered before the portfolio is built.
• Simple plumbing. Roughly 50 holdings, one published index, cash paid out quarterly.

• DRAM A 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
• Actively 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
• Straightforward 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

• CHPS Trades thinly next to SMH and SOXX. Spreads can be wider, and size takes more care to get filled.
• Launched in 2023, so the record is short against chip funds that have lived through several boom-bust cycles.
• The screen excludes some chip companies outright, so the lineup can look different from unscreened rivals.

• DRAM Costs 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.
• It 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.
• A 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.

Full CHPS profile⁠

Full DRAM profile⁠