DRAM
Not rated
No published distribution safety rating is available.
ETF Comparison
DRAM vs DRMP vs HBMX: Which Fits Each Goal in 2026?
A side-by-side comparison of Roundhill Memory ETF, Tuttle Capital Memory Stack Income Blast ETF and Tuttle Capital Concentrated Memory Stack ETF covering yield, cost, risk, and income potential.
Updated November 6, 2026
No track record yet. DRMP, HBMX launched within the last six months. Where a fund has not published a payout, the forward distribution rate is left blank.
How these figures are calculated: methodology.
Price and total return
Compare the same available dates. Add a ticker or benchmark below; these controls change the chart only. The snapshot and article describe the original comparison.
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Distribution Safety Score
An estimate of distribution reliability, not price or principal safety, a probability, or a guarantee. Score methodology.
DRMP
Unproven
Low confidence
HBMX
Not rated
No published distribution safety rating is available.
Score snapshot as of . Method 1.11.
Side-by-side snapshot
| Metric |  DRAM |  DRMP |  HBMX |
|---|---|---|---|
| Full name | Roundhill Memory ETF | Tuttle Capital Memory Stack Income Blast ETF | Tuttle Capital Concentrated Memory Stack ETF |
| Issuer | Roundhill Investments | Tuttle Capital Management | Tuttle Capital Management |
| Last Close | $39.29 as of November 6, 2026 | $13.39 as of November 6, 2026 | $16.69 as of November 6, 2026 |
| Distribution rate | — | 31.07% | — |
| Trailing 12-month yield | — | 21.74% | — |
| 30-day SEC yield | — | 0.00% | — |
| Distribution Safety Score™ | — | 50 | — |
| Expense ratio | 0.65% | 0.95% | 0.95% |
| AUM | $14.4B | $4.56M | $19.4M |
| Distribution frequency | None | Weekly | Annual |
| Underlying index | — | Actively managed (no tracked index recorded) | Actively managed (no tracked index recorded) |
| Objective | Seeks capital appreciation by investing at least 80% of net assets in the equity securities of memory companies, or in swaps and forward contracts that provide equivalent exposure. | Actively managed, non-diversified ETF seeking current income. Under normal market conditions the fund invests at least 80% of its net assets in equity securities of memory-stack companies (memory semiconductor and related supply-chain firms) and instruments providing economically equivalent exposure, while generating income through a systematic put credit spread strategy on memory semiconductor-related securities, ETFs, and indexes. Distributes net investment income weekly. | HBMX is an actively managed, concentrated ETF seeking long-term capital appreciation through focused exposure to the memory semiconductor ecosystem — DRAM, NAND, and high-bandwidth memory (HBM) producers plus the advanced packaging, testing, and equipment companies behind AI infrastructure. |
| Asset class | Equity | Equity | Equity |
| Inception date | 04/02/2026 | 06/11/2026 | 06/02/2026 |
| Beta | 4.1626 | — | — |
| Last dividend | — | $0.08 declared, pays 11/09/2026 | — |
| Ex-dividend date | — | 11/06/2026 | — |
— Distribution rate, Safety-Adjusted Yield, last dividend, and ex-dividend date are not yet available because HBMX launched June 2026; these fields will populate after the first distribution.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
DRAM tops the group over the year to date with a 33.32% total return, against DRMP at -48.11% and HBMX at -41.43%. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | Since Jun 2026 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|
| DRAM | 33.32% | -43.17% | 88.3% | -1.63 | -2.05 | -54.2% |
| DRMP | -48.11% | -48.11% | 83.9% | -1.98 | -2.45 | -57.3% |
| HBMX | -41.43% | -42.86% | 73.9% | -1.93 | -2.38 | -49.9% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of November 5, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jun 2026” measures every fund from June 11, 2026 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Jun 2026. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the shared window since Jun 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Distribution rate and SEC yield
| Metric | DRAM | DRMP | HBMX |
|---|---|---|---|
| Forward distribution rate | — | 31.07% | — |
| Trailing 12-month yield | — | 21.74% | — |
| 30-day SEC yield | — | 0.00% | — |
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Not a distribution payer
DRAM (Roundhill Memory ETF) has no distribution rate on file and its distribution frequency is None. DRAM is not a payer. The blank yield is not a zero yield.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
- Added downside and premium dependence. DRMP generates income by selling puts, which adds losses when the underlying falls; the premium collected is the most the puts can earn. Distributions can include return of capital, and a payout the strategy cannot sustain shows up as NAV erosion over time — the big yield number is not free.
Learn the mechanics: Return of capital, explained · NAV erosion, explained
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
ETFs57
Total AUM$25.4B
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Roundhill Investments is known for offering innovative, specialized ETFs that often feature weekly dividend distributions and exposure to trending themes and individual mega-cap stocks. Their lineup spans income-focused strategies, leveraged products, thematic investments in areas like cryptocurrency and artificial intelligence, and weekly-pay funds that appeal to investors seeking frequent distributions. The issuer has built a distinctive niche with products targeting both traditional income seekers and those interested in emerging sectors, offering a diverse range of tickers that go well beyond conventional dividend vehicles.
See our curated list of related YouTube videos on DRAM.
ETFs19
Total AUM$1.26B
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Tuttle Capital Management is known for creating specialized, thematic, and income-focused ETFs that often target niche market segments and unconventional investment themes. The issuer's fund lineup spans income strategies, covered call approaches, and thematic investments covering areas ranging from technology and entertainment to alternative sectors, with tickers like SARK (targeting short positions in ark funds) and MEMY (focused on meme stocks) reflecting their emphasis on distinctive market angles. The firm distinguishes itself through a diversified portfolio of tactical and thematic offerings that appeal to investors seeking exposure beyond traditional market categories.
See our curated list of related YouTube videos on DRMP and HBMX.
Quick verdict
DRAM (Roundhill Memory ETF), DRMP (Tuttle Capital Memory Stack Income Blast ETF), HBMX (Tuttle Capital Concentrated Memory Stack ETF) are ETFs that take different approaches.
DRMP reports a 31.07% distribution yield; the others have not yet established a full distribution history.
DRAM is the cheapest with an expense ratio of 0.65%, compared to 0.95% for DRMP and 0.95% for HBMX.
DRAM has the most assets at $14.4B, but DRMP, HBMX only launched recently — AUM comparisons will become more meaningful as they build a track record.
Top-holdings overlap
Positions that appear in every fund's top 10. Issuers disclose only the largest weights, so this captures the overlap of the concentrated end of each book — not the full portfolios.
— shared positions
DRAM 0.0% of its top-10 weight
DRMP top-10 holdings unavailable
HBMX 0.0% of its top-10 weight
Top-10 holdings unavailable for DRMP — cannot compute overlap.
Deep dive
Yield & income
On a $10,000 investment at current distribution rates, DRAM pays no distribution (not a payer; a blank rate is not a zero yield); DRMP would pay about $3,107.00 a year (about $59.75 per weekly distribution); HBMX has no reported yield yet.
DRAM yield—
DRMP yield31.07%
HBMX yield—
Cost & efficiency
Over 10 years on $10,000: DRAM costs ~$650, DRMP costs ~$950, HBMX costs ~$950 in fees (simplified, not compounded).
DRAM ER0.65%
DRMP ER0.95%
HBMX ER0.95%
Strategy & risk
DRAM is an ETF built around a thematic strategy; DRMP is an actively managed ETF built around technology exposure; HBMX is an actively managed ETF built around a thematic strategy.
DRAM beta4.1626
DRMP beta—
HBMX beta—
Fund details
DRAM is managed by Roundhill Investments (launched 04/02/2026) with $14.4B in assets. DRMP is managed by Tuttle Capital Management (launched 06/11/2026) with $4.56M in assets. HBMX is managed by Tuttle Capital Management (launched 06/02/2026) with $19.4M in assets.
DRAM AUM$14.4B
DRMP AUM$4.56M
HBMX AUM$19.4M
Frequently asked questions
Which of DRAM, DRMP, HBMX is best for dividend income?
It depends on your goals. DRMP currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and DRAM is not a payer, so a blank yield is not a zero yield. Consider your time horizon and risk tolerance.
What is the difference between DRAM, DRMP, HBMX?
DRAM (Roundhill Memory ETF) is an ETF built around a thematic strategy, issued by Roundhill Investments. DRMP (Tuttle Capital Memory Stack Income Blast ETF) is an actively managed ETF built around technology exposure, issued by Tuttle Capital Management. HBMX (Tuttle Capital Concentrated Memory Stack ETF) is an actively managed ETF built around a thematic strategy, issued by Tuttle Capital Management.
Can I hold DRAM, DRMP, HBMX together?
Yes — nothing prevents holding them together. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has the lowest fees among DRAM, DRMP, HBMX?
DRAM has an expense ratio of 0.65%, DRMP has an expense ratio of 0.95%, HBMX has an expense ratio of 0.95%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 generate in each?
At current distribution rates, $10,000 in DRAM has no distribution to estimate, because DRAM is not a payer and a blank rate is not a zero yield. $10,000 in DRMP would pay about $3,107.00 a year (about $59.75 per weekly distribution). $10,000 in HBMX has no reported cash yet.
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DRAM vs DRMP vs HBMX — at a glance
Generated October 31, 2026.
Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.
Overview
All three funds target the memory semiconductor ecosystem — DRAM, NAND, HBM, and related supply-chain companies riding AI infrastructure growth. The funds differ sharply in yield generation method, concentration, and fee structure, making them distinct tools for different investor goals.
How they differ
DRMP's defining feature is its income strategy: it sells put spreads on memory-related securities weekly, producing a 31.07% distribution rate but also introducing options leverage and the risk of spread assignment. DRAM tracks memory companies with no income overlay and 0.65% fees, while HBMX pairs active management with capital appreciation focus and no systematic income layering.
On scale, DRAM dominates at $14.4B, roughly 3,600 times DRMP's $4.56M and roughly 860 times HBMX's $19.4M. DRMP's 0.95% expense ratio matches HBMX's, but DRAM's 0.65% fee is 30 basis points lower.
Who each is best for
DRAM: Fits investors seeking broad, liquid memory-sector exposure with lower fees and no expectation of current income — those building long-term equity positions in semiconductor memory without relying on distributions.
DRMP: Designed for income-focused investors comfortable with options strategies and weekly payout frequency, who accept the concentration risk and NAV erosion potential of a leveraged put-selling program in a small asset base.
HBMX: Appeals to concentrated-portfolio builders seeking active stock-picking in the memory stack ecosystem with annual distributions or none at all, trading smaller size and higher fees for active management over passive tracking.
- Put-spread assignment and tail risk. DRMP's weekly put credit spreads expose the fund to assignment of short puts during market stress, forcing management to hold or sell equity positions at pre-agreed prices — a structural obligation that can lock in losses in sharp downturns.
- Concentration in a single semiconductor stack. All three funds concentrate on memory producers and suppliers; holdings may overlap significantly. A cyclical downturn in memory chip demand or overcapacity in DRAM/NAND production would pressurize all three simultaneously.
- Extreme beta in a thematic fund. DRAM's 4.1626 beta signals amplified sensitivity to broad equity swings — roughly 4 times the S&P 500's move — making it a leveraged bet on memory demand, not a diversifying allocation.
Bottom line
If you want broad, liquid memory-sector exposure with lower fees and no income overlay, DRAM's size and 0.65% expense ratio fit that profile. If you prioritize current income and tolerate put-spread mechanics and microcap liquidity constraints, DRMP's weekly 31.07% yield reflects that trade-off. If you value active stock-picking in the memory ecosystem without synthetic income, HBMX offers that approach. Past performance does not guarantee future results; all three funds' returns depend on memory semiconductor demand and valuations, which remain cyclical and concentrated.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
These comparisons follow the Dividend Vision methodology.