Rex Shares launches $RAM, a 2x leveraged DRAM ETF built for memory chip bulls
The new leveraged product targets 200% of the daily performance of Roundhill's memory semiconductor ETF, which has already pulled in billions since its April debut.
If you thought a memory chip ETF wasn’t enough, Wall Street has a lever for that now. The Roundhill T-REX 2X Long DRAM Daily Target ETF, trading under the ticker $RAM, began trading on June 24 on the Cboe BZX exchange.
The product is a joint effort between Rex Shares, operating through its T-REX venture with Tuttle Capital Management, and Roundhill Investments. Its goal is straightforward: deliver 200% of the daily performance of the Roundhill Memory ETF ($DRAM).
What $RAM actually does
The $RAM ETF is a leveraged daily-target fund, meaning it resets every trading day to hit that 2x objective. If $DRAM goes up 3% on a Tuesday, $RAM aims to go up 6%. If $DRAM drops 3% on Wednesday, $RAM targets a 6% loss.
The fund carries a gross expense ratio of 1.50% and a net expense ratio of 1.25%.
The $DRAM foundation
The Roundhill Memory ETF ($DRAM) launched on April 2, 2026, focusing on global memory semiconductor companies. Think Samsung, Micron, and the other chipmakers whose products have become the backbone of AI infrastructure.
Within months of launching, $DRAM accumulated assets under management that surpassed $13B and later exceeded $20B. That kind of AUM growth in under three months is remarkable for a thematic ETF.
Why memory chips, why now
Memory semiconductors occupy an interesting position in the AI supply chain. Every AI training run, every inference query, every data center expansion requires massive amounts of DRAM and NAND storage.
Samsung and Micron, two of the largest holdings in the underlying $DRAM ETF, have seen their fortunes rise alongside the AI infrastructure boom. High-bandwidth memory, or HBM, has become particularly valuable as AI accelerators demand faster data throughput than traditional memory architectures can deliver.
What this means for investors
Leveraged ETFs are precision instruments that can amplify gains and losses with equal enthusiasm. The daily reset mechanism means that in volatile, choppy markets, a leveraged ETF can lose money even if the underlying asset ends up flat over a longer period. This phenomenon, known as volatility decay, is the silent tax that catches uninformed traders off guard.
Rex Shares and Tuttle Capital have built the T-REX brand around exactly this kind of product, offering leveraged and inverse versions of popular funds and single stocks. Roundhill, meanwhile, has carved out a niche in thematic investing with products targeting everything from meme stocks to AI infrastructure.