HBMX ETF — Tuttle Capital Concentrated Memory Stack ETF

Tuttle Capital Concentrated Memory Stack ETF (HBMX)

HBMX is an ETF. its expense ratio is 0.95%. Total return is -12.5% over the past 0.3 years, 13.3 points behind SPY at 0.8%.

Tuttle Capital Concentrated Memory Stack ETF is an actively managed ETF seeking long-term capital appreciation through focused exposure to memory semiconductor producers—including DRAM, NAND, and high-bandwidth memory manufacturers—along with the advanced packaging, testing, and equipment companies supporting AI infrastructure. The fund is non-diversified and concentrates its investments in this specialized segment, with an expense ratio of 0.95%. It appeals to growth-oriented investors seeking exposure to the memory semiconductor ecosystem and AI infrastructure buildout rather than income-focused investors.

HBMX performance versus SPY

Price and return data through 2026-09-18.

Total return is -12.5% over the past 0.3 years, 13.3 points behind SPY at 0.8%.

HBMX key facts

Issuer

Tuttle Capital Management

Asset type

ETF

Asset class

Equity

Inception date

06/02/2026

Expense ratio

0.95%

Distribution frequency

Annual

Last close

$23.40 (as of 2026-09-18)

NAV

$21.83

Premium / discount

7.19% premium

AUM

$25,447,423

Average volume

15300.0

P/E ratio

31.6022

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Tuttle Capital Management or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

HBMX risks and drawbacks

Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window.

Who may consider HBMX — and who may not

It is a weaker fit for investors who need monthly cash flow (HBMX pays annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Compare HBMX

HBMX vs similar funds:

• HBMX vs SOXX
• HBMX vs DRAM
• HBMX vs KMEM
• HBMX vs DRMP
• HBMX vs DRAM vs KMEM vs SMH
• HBMX vs DRAM vs DRMP

Frequently asked questions

More securities from Tuttle Capital Management.