Most themes that get loud are already half over by the time you hear about them.
Memory is one where the deeper you dig, the more the numbers hold up.
The receipts:
SK Hynix has said its 2026 memory output is effectively booked by customers.
Micron has reported its 2026 high-bandwidth memory is fully committed.
DRAM prices have risen sharply into early 2026 on AI demand and tight supply.
The Roundhill Memory ETF (ticker: DRAM) — Micron, SK Hynix, Samsung, Sandisk — hit $1 billion in its first 10 trading days and topped $19 billion in assets in about two months (as of mid-June 2026).
AI runs on memory, and right now the supply is locked up while demand keeps climbing.
This is a theme I want to be long.
A 1x DRAM position is one way to play it. But for traders who've done the work and want to size conviction differently, we built the Roundhill T-REX 2X Long DRAM Daily Target ETF (RAM) — seeking 200% of DRAM's daily performance.
Put simply: 2% for every 1% DRAM moves on the day — up or down. RAM seeks to get there using swaps that reset to 2x at each close.
RAM is a short-term tool for sophisticated traders who actively manage positions.
Not buy-and-hold.
Holdings are subject to change. For more info on RAM, please visit the link below.
Matt Tuttle
Investing in the fund involves significant risk and is for sophisticated investors. The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. For periods longer than a single day, the Fund will lose money if DRAM’s performance is flat, and it is possible that the Fund will lose money even if DRAM’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day if the price of DRAM falls by more than 50% in one trading day.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Roundhill T-REX 2X Long DRAM Daily Target ETF (RAM) (the "Fund") before investing. This and other important information about the Fund is contained in the prospectus and summary prospectus, which can be obtained by visiting www.rexshares.com or by calling 833-759-6110. The prospectus and summary prospectus should be read carefully before investing.
Investing involves risk, including possible loss of principal. The Fund is a newly organized, non-diversified exchange-traded fund and has a limited operating history. The Fund seeks daily investment results, before fees and expenses, of 200% of the daily performance of the Roundhill Memory ETF (“DRAM”). The Fund uses leverage and is riskier than alternatives that do not. The pursuit of a daily leveraged investment objective means that the return of the Fund for a period longer than a full trading day will be the result of each day’s returns compounded over the period, which will very likely differ from 200% of the return of DRAM for that period. Longer holding periods and higher volatility increase the impact of compounding on an investor’s returns. During periods of higher volatility, the volatility of DRAM may affect the Fund’s return as much as, or more than, the return of DRAM itself. If DRAM moves more than 50% against the Fund’s position on a given trading day, investors could lose all of their money.
The Fund is subject to leverage risk, compounding and market volatility risk, derivatives risk, counterparty risk, correlation risk, liquidity risk, concentration risk in the semiconductor industry, non-diversification risk, cash transaction risk, and new fund risk. The Fund is designed to be utilized only by sophisticated investors, such as traders and active investors employing dynamic strategies, who understand the consequences of seeking daily leveraged investment results and intend to actively monitor and manage their investments. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. Shares of the Fund are bought and sold on an exchange at market price (not NAV) and are not individually redeemed from the Fund. Market price returns may differ from the Fund’s net asset value and shares may trade at a premium or discount to NAV.
Foreside Fund Services, LLC is the distributor of the Fund.