Do DRAM and HBMX hold the same stocks?

By their latest filings, 18% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, DRAM or HBMX?

DRAM has 20% of its weight in S&P 500 names and HBMX has 30%, so DRAM differs more from the index.

Which is cheaper, DRAM or HBMX?

DRAM charges 0.65% a year and HBMX charges 0.95%, so DRAM is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

DRAM vs HBMX: which is really different?

DRAM and HBMX hold 18% of their weight in the same names. Roundhill Memory ETF and Tuttle Capital Concentrated Memory Stack ETF.

20.0%

DRAM in the S&P 500

29.9%

HBMX in the S&P 500

+117.4%

DRAM total return, since launch

−6.4%

HBMX total return, since launch

DRAM · 3 months to Sep 30, 202680% of its weight is outside the S&P 500

20% of DRAM's weight is in S&P 500 companies and 80% is outside the index

HBMX · 3 months to Sep 30, 202670% of its weight is outside the S&P 500

30% of HBMX's weight is in S&P 500 companies and 70% is outside the index

ETFIQ Off-Index Score · DRAM scores higherHow much of it is not the index it is sold as an alternative to?

DRAM 38.9

HBMX 29.7

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, DRAM and HBMX hold 18% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jul 31, 2026 and Jun 30, 2026.

50%

half

18% in common

Positions both hold, largest shared weight first

Holding DRAM HBMX

SK hynix Inc 20.19% 4.90%

Sandisk Corp 6.62% 3.95%

Kioxia Holdings Corp 5.54% 3.60%

Micron Technology Inc 2.58% 8.79%

Western Digital Corp 5.46% 2.28%

Seagate Technology Holdings PL 5.32% 1.19%

Only in DRAM

TREASURY BILL 27.17%

Samsung Electronics Co Ltd 18.26%

GigaDevice Semiconductor Inc 3.90%

Nanya Technology Corp 2.31%

Winbond Electronics Corp 1.41%

Phison Electronics Corp 0.80%

Macronix International Co Ltd 0.45%

Only in HBMX

Advantest Corp 10.28%

Penguin Solutions Inc 6.40%

Onto Innovation Inc 6.06%

Camtek Ltd/Israel 5.35%

ASML Holding NV 5.34%

Lam Research Corp 4.75%

Applied Materials Inc 4.73%

Rambus Inc 4.31%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

18% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	DRAM	HBMX	DRAM	HBMX	DRAM	HBMX
3 months	−8.3%	−12.7%	−10.9 pts	−15.3 pts	−10.5 pts	−14.8 pts
Since launch DRAM Apr 2026 · HBMX Jun 2026	+117.4%	−6.4%	+100.6 pts	−7.3 pts	+90.7 pts	−5.7 pts

DRAM and HBMX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

DRAM

Roundhill Memory ETF · Holds 13 stocks in memory and storage, 20% of its weight in S&P 500 companies

HBMX

Tuttle Capital Concentrated Memory Stack ETF · Holds 23 stocks in memory and storage, 30% of its weight in S&P 500 companies

Issuer Roundhill Tuttle

Theme Memory and storage Memory and storage

In the S&P 500 20.0% 29.9%

Active share vs the S&P 500 96.8% 94.4%

In the Nasdaq-100 20.0% 35.3%

Holdings 13 23

Top ten, share of the fund 97.3% 60.9%

Expense ratio 0.65% 0.95%

Fee for the differing part 0.67% 1.01%

Total return, 1 year +117.4% (since launch on Apr 2, 2026) −6.4% (since launch on Jun 2, 2026)

vs the S&P 500 +100.6 pts −7.3 pts

vs the Nasdaq-100 +90.7 pts −5.7 pts

Below its high −25.2% −19.9%

Net assets $26.0bn $27m

DRAM and HBMX on the same fields, as of Sep 30, 2026. Source: ETFIQ.

DRAM in plain words

By weight, 20% of DRAM's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 97%. The top ten holdings are 97% of the fund across 13 positions, as filed for Jun 30, 2026. Since it launched on Apr 2, 2026 the fund returned +117.4% with distributions reinvested against +16.9% for the S&P 500, so a holder was ahead by 100.6 pts. It sits 25.2% below its all-time high of Jun 22, 2026.

HBMX in plain words

By weight, 30% of HBMX's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 94%. The top ten holdings are 61% of the fund across 23 positions, as filed for Jul 31, 2026. Since it launched on Jun 2, 2026 the fund returned −6.4% with distributions reinvested against +0.9% for the S&P 500, so a holder was behind by 7.3 pts. It sits 19.9% below its all-time high of Jun 22, 2026.

Questions people ask

Do DRAM and HBMX hold the same stocks?: By their latest filings, 18% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, DRAM or HBMX?: DRAM has 20% of its weight in S&P 500 names and HBMX has 30%, so DRAM differs more from the index.
Which is cheaper, DRAM or HBMX?: DRAM charges 0.65% a year and HBMX charges 0.95%, so DRAM is cheaper. Fees come from each fund's prospectus.

Other comparisons

DRAM vs GRID DRAM vs IFRA DRAM vs IGV DRAM vs ITA HBMX vs DISK DRAM vs KWEB DRAM vs NLR DRAM vs PAVE

DRAM on its own →HBMX on its own →How every figure is computed →Standards and sources →

Where these figures came from

DRAM filings on SEC EDGAR ↗DRAM prospectus with the expense ratio (SEC) ↗Roundhill page for DRAM ↗HBMX filings on SEC EDGAR ↗HBMX prospectus with the expense ratio (SEC) ↗Tuttle website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, DRAM against HBMX, data as of Sep 30, 2026. https://etfiq.com/compare/themes/dram-vs-hbmx

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.