Roundhill Memory ETF

Roundhill Memory ETF (DRAM) is a US-listed exchange-traded fund launched in April 2026 by Roundhill Investments, designed to give investors targeted access to the global memory-chip industry. It is the first ETF dedicated exclusively to memory and storage companies, positioned as a pure-play alternative to broader semiconductor funds that mix memory makers with logic-chip and equipment companies.

What does Roundhill Memory ETF track? 

DRAM does not track a published third-party benchmark index. It follows an actively managed, "no underlying index" structure, meaning the adviser selects and weights large-cap memory companies using a modified market-capitalisation methodology capped at 25% for any single company, with rebalancing occurring at least quarterly. The fund may combine direct equity positions with swaps and forwards to gain or fine-tune its exposure to target companies.

What does Roundhill Memory ETF hold?

The portfolio is concentrated in companies engaged in the design, manufacture, and supply of computer memory and storage, spanning high-bandwidth memory (HBM), dynamic random-access memory (DRAM), NAND flash memory, solid-state drives, NOR flash memory, hard disk drives, and specialty or embedded memory solutions. Because memory is viewed as a critical bottleneck for AI infrastructure buildouts, the fund's exposure sits at the intersection of the semiconductor and data-centre hardware industries, spanning both US and global memory producers.

Roundhill Memory ETF Investment strategy

DRAM follows an active, thematic strategy rather than passive index replication. The adviser weights holdings according to its own assessment of each company's market and revenue share within the memory sector rather than relying solely on market capitalisation, and may use total-return swaps or forwards to fine-tune exposure. The approach rests on the thesis that memory and storage represent a secular, multi-decade growth opportunity tied to AI infrastructure and data-intensive computing, though the fund's active, concentrated structure carries higher sector and company-concentration risk than diversified semiconductor ETFs.