Data as of .
DRAL vs RAM: which held to its multiple?
Over the days both have traded, DRAL finished 5.7 points from its stated multiple and RAM 4.7.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| DRAL | RAM | DRAL | RAM | DRAL | RAM | |
| 1 month | +10.1% | +11.0% | +15.7% | +15.7% | −5.7 pts | −4.7 pts |
| Since launch | −45.5% | −43.6% | −35.7% | −31.0% | −9.8 pts | −12.7 pts |
| DRAL Defiance Daily Target 2X Long DRAM ETF Aims to return twice the daily move of DRAM | RAM Roundhill Daily 2X Long Memory ETF Aims to return twice the daily move of Memory (DRAM) | |
|---|---|---|
| Issuer | Defiance | Roundhill |
| Sets out to return | +2x | +2x |
| On | DRAM | DRAM |
| Segment | sector | sector |
| Fund returned, 3 months | +10.1% | +11.0% |
| Underlying returned, 3 months | +7.8% | +7.8% |
| What the stated multiple implies, 3 months | +15.7% | +15.7% |
| Difference from stated, 3 months | −5.7 pts | −4.7 pts |
| Fund returned, 1 year or since launch | −45.5% | −43.6% |
| Difference from stated, over that window | −9.8 pts | −12.7 pts |
| Underlying volatility | 58% | 58% |
| Difference over the days both have traded | −5.7 pts | −4.7 pts |
| Expense ratio | 1.31% | 0.99% |
| Launched | Jun 29, 2026 | Jun 24, 2026 |
DRAL in plain words
One month to Sep 11, 2026: DRAL returned +10.1% where its own daily promise gave +12.9%, 2.9 points short. Read the multiple against the whole window instead and +2 times DRAM's 7.8% implies +15.7%, which makes DRAL look 5.7 points short. 2.8 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. DRAL aims to return +2 times DRAM's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. DRAM moved at 58% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
RAM in plain words
One month to Sep 11, 2026: RAM returned +11.0% where its own daily promise gave +12.9%, 1.9 points short. Read the multiple against the whole window instead and +2 times DRAM's 7.8% implies +15.7%, which makes RAM look 4.7 points short. RAM aims to return +2 times DRAM's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, DRAL or RAM?
- Over the window to Sep 11, 2026, DRAL finished 5.7 points from what its multiple implies and RAM finished 4.7 points from its own, so RAM came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are DRAL and RAM levered on the same thing?
- Yes. Both are levered on DRAM, DRAL at +2 times and RAM at +2 times the daily move.
- Which one decays faster, DRAL or RAM?
- Decay follows how much the underlying moves about. Over this window DRAL’s moved at 58% annualized and RAM’s at 58%, so DRAL has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold DRAL or RAM for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, DRAL or RAM?
- DRAL charges 1.31% a year and RAM charges 0.99%, so RAM is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, DRAL against RAM, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/DRAL-RAM Free to use with attribution; the underlying files are at Open data.