As of April 21, the Roundhill Memory ETF (DRAM) had recorded $1.11 billion in net inflows, according to FactSet. The memory-themed ETF trades on the New York Stock Exchange.
The fund was launched April 2 by Roundhill, a small U.S. asset manager. With inflows and rising holdings, assets under management jumped from $250,000 at listing to $1.22 billion as of April 21.
Roundhill describes the product as a thematic ETF investing in global memory chipmakers and says it is the world’s first memory-stock ETF.
The 11-stock portfolio is led by SK hynix at 26.9% and Samsung Electronics at 23.4%, together accounting for more than half. Micron Technology follows at 20.9%.
Market watchers have called it unusual for a niche, thematic ETF from a small manager to attract large sums so quickly without major promotion.
ETF.com said the fund has had a “surprising run” as a niche product and called it “one of the smartest products” launched this year by a small or midsize manager. It also said inflows were helped by limited access to Samsung Electronics and SK hynix in U.S. semiconductor funds.
Bloomberg Intelligence analyst Eric Balchunas wrote on X, formerly Twitter, that the new fund had “crazy trading volume” and called it the most undervalued “AI play.”
The Wall Street Journal said the surge is rare for any ETF and unprecedented for a small asset manager. It added that thematic ETFs concentrated in a few stocks are often launched when a theme is near its peak, raising the risk of weaker performance ahead.
* This article has been translated by AI.
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