Data as of .
RAML vs RAMZ: which held to its multiple?
Over a month against its own daily promise, RAML finished 1.1 points short and RAMZ 0.1 points short.
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| RAML | RAMZ | RAML | RAMZ | RAML | RAMZ | |
| 1 month | +11.8% | −21.1% | +15.7% | −15.7% | −3.9 pts | −5.4 pts |
| Since launch | −8.1% | −49.0% | +2.7% | −47.4% | −10.9 pts | −1.6 pts |
| RAML Leverage Shares 2X Long Memory Daily 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 | Leverage Shares | T-REX |
| Sets out to return | +2x | -2x |
| On | DRAM | DRAM |
| Segment | sector | sector |
| Fund returned, 3 months | +11.8% | −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 | −3.9 pts | −5.4 pts |
| Fund returned, 1 year or since launch | −8.1% | −49.0% |
| Difference from stated, over that window | −10.9 pts | −1.6 pts |
| Underlying volatility | 58% | 58% |
| Difference over the days both have traded | −3.9 pts | no shared window |
| Expense ratio | 0.99% | 1.50% |
| Launched | Jul 23, 2026 | Jul 28, 2026 |
RAML in plain words
One month to Sep 11, 2026: RAML returned +11.8% where its own daily promise gave +12.9%, 1.1 points short. Read the multiple against the whole window instead and +2 times DRAM's 7.8% implies +15.7%, which makes RAML look 3.9 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. RAML 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, RAML or RAMZ?
- Over the window to Sep 11, 2026, RAML finished 3.9 points from what its multiple implies and RAMZ finished 5.4 points from its own, so RAML came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are RAML and RAMZ levered on the same thing?
- Yes. Both are levered on Memory, RAML at +2 times and RAMZ at -2 times the daily move.
- Which one decays faster, RAML or RAMZ?
- Decay follows how much the underlying moves about. Over this window RAML’s moved at 58% annualized and RAMZ’s at 58%, so RAML has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold RAML 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, RAML or RAMZ?
- RAML charges 0.99% a year and RAMZ charges 1.50%, so RAML 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, RAML against RAMZ, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/RAML-RAMZ Free to use with attribution; the underlying files are at Open data.