Data as of .
RAM vs RAMZ: which held to its multiple?
Over a month against its own daily promise, RAM finished 1.9 points short and RAMZ 0.1 points short.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| RAM | RAMZ | RAM | RAMZ | RAM | RAMZ | |
| 1 month | +11.0% | −21.1% | +15.7% | −15.7% | −4.7 pts | −5.4 pts |
| Since launch | −43.6% | −49.0% | −31.0% | −47.4% | −12.7 pts | −1.6 pts |
| RAM Roundhill Daily 2X Long Memory ETF Aims to return twice the daily move of Memory (DRAM) | RAMZ T-REX 2X INVERSE DRAM DAILY TARGET ETF Aims to return twice the opposite of the daily move of DRAM | |
|---|---|---|
| Issuer | Roundhill | T-REX |
| Sets out to return | +2x | -2x |
| On | DRAM | DRAM |
| Segment | sector | sector |
| Fund returned, 3 months | +11.0% | −21.1% |
| Underlying returned, 3 months | +7.8% | +7.8% |
| What the stated multiple implies, 3 months | +15.7% | −15.7% |
| Difference from stated, 3 months | −4.7 pts | −5.4 pts |
| Fund returned, 1 year or since launch | −43.6% | −49.0% |
| Difference from stated, over that window | −12.7 pts | −1.6 pts |
| Underlying volatility | 58% | 58% |
| Difference over the days both have traded | −4.7 pts | no shared window |
| Expense ratio | 0.99% | 1.50% |
| Launched | Jun 24, 2026 | Jul 28, 2026 |
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. 2.8 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. RAM 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.
RAMZ in plain words
One month to Sep 11, 2026: RAMZ returned −21.1% where its own daily promise gave −21.1%, 0.1 points short. Read the multiple against the whole window instead and −2 times DRAM's 7.8% implies −15.7%, which makes RAMZ look 5.4 points short. 5.4 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. RAMZ aims to return -2 times DRAM's move each day, then resets. 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.
Questions people ask
- Which came closer to its stated multiple, RAM or RAMZ?
- Over the window to Sep 11, 2026, RAM finished 4.7 points from what its multiple implies and RAMZ finished 5.4 points from its own, so RAM came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are RAM and RAMZ levered on the same thing?
- Yes. Both are levered on Memory, RAM at +2 times and RAMZ at -2 times the daily move.
- Which one decays faster, RAM or RAMZ?
- Decay follows how much the underlying moves about. Over this window RAM’s moved at 58% annualized and RAMZ’s at 58%, so RAM has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold RAM or RAMZ 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, RAM or RAMZ?
- RAM charges 0.99% a year and RAMZ charges 1.50%, 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, RAM against RAMZ, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/RAM-RAMZ Free to use with attribution; the underlying files are at Open data.