The Roundhill Memory ETF (DRAM), the world’s first memory stock ETF, has been creating a buzz in the US market after delivering robust returns in less than three months. The fund’s net asset value (NAV) surged from $28.24 on March 28, 2026 to $60.51 on May 25, 2026, marking a rally of over 114% during the period.
According to Roundhill Investments, computer memory and storage represent a long term secular growth opportunity linked to the multi decade buildout of AI infrastructure. The Roundhill Memory ETF offers investors targeted exposure to a basket of global memory chip companies.
As of May 26, 2026, SK hynix Inc accounted for the largest share in the fund with a weightage of 25.94%, followed by Samsung Electronics at 18.38%, Micron Technology Inc Swap NM at 13.35%, and First American Government Obligations Fund at 11.93%.
The actively managed ETF has an expense ratio of 0.65% and assets under management (AUM) of $11.64 billion.
Why DRAM?
Roundhill Investments believes memory has emerged as a critical bottleneck in the AI revolution, driven by rising demand for data intensive applications and faster computing systems. DRAM gives investors global exposure to leading memory producers that are positioned at the centre of AI driven demand for high-speed data processing and storage. Unlike broader semiconductor ETFs, the fund offers focused exposure to memory companies.
According to the fund’s prospectus, memory companies are defined as firms that derive at least 50% of their revenue or profits from the development or manufacturing of semiconductor memory products. These include High Bandwidth Memory (HBM), Dynamic Random Access Memory (DRAM), NAND flash memory, solid state drives (SSD), NOR flash technology, Hard Disk Drives (HDD), and speciality and embedded memory products.
Under normal circumstances, the fund invests at least 80% of its net assets, including borrowings for investment purposes, in equity securities or instruments such as swap agreements and forward contracts that provide exposure to memory companies.
The ETF rebalances its portfolio at least once every quarter using the adviser’s proprietary weighting methodology. DRAM invests in companies with a minimum market capitalisation of $10 billion and an average daily trading volume of at least $5 million.
