A side-by-side of Kurv Memory Select, Roundhill Memory, Tuttle Concentrated Memory Stack, and the related memory-income overlay.
Updated October 16, 2026
No track record yet. DRMP, HBMX, KMEM launched within the last six months. Where a fund has not published a payout, the forward distribution rate is left blank.
Projections assume the current yield and share price remain constant. Actual results will vary.
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 67.33% total return, against DRMP at -32.57%, HBMX at -22.97% and KMEM at -33.76%. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 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 Jul 2026” measures every fund from July 1, 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 Jul 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 Jul 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
KMEM
Forward distribution rate
—
39.94%
—
—
Trailing 12-month yield
—
14.95%
—
—
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. KMEM (Kurv Memory Select ETF) has no distribution rate on file and its distribution frequency is None. KMEM is not a payer. The blank yield is not a zero yield.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
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.
Kurv Memory Select ETF seeks to provide targeted exposure to the companies dominating memory chip production.
— Distribution rate, Safety-Adjusted Yield, last dividend, and ex-dividend date are not yet available because HBMX launched June 2026 and KMEM launched June 2026; these fields will populate after the first distribution.
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
Capped upside and premium dependence. DRMP generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Tuttle Capital Management operates a focused lineup of 7 ETFs that emphasize thematic investing and income-focused strategies. The firm's offerings span specialized areas including cryptocurrency exposure (BITK), photography and imaging (FOTO), and sector-specific themes like healthcare (HALX) and technology (MSTK), alongside income-oriented products under their Income and Income Blast families. The issuer targets investors seeking unconventional thematic strategies rather than broad-based index exposure, with notable tickers like MAGO and SPCI rounding out their niche-oriented portfolio.
See our curated list of related YouTube videos on DRMP and HBMX.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Kurv is known for developing actively managed, single-stock and thematic covered call ETFs that generate income through options strategies. The issuer's lineup spans fixed income, growth and income, precious metals strategies, and thematic investing approaches, with a notable focus on single-stock income products tied to mega-cap technology and consumer companies. Kurv's breadth includes both traditional covered call strategies and more specialized offerings in metals and sector-specific themes, appealing to investors seeking equity income across various market segments.
See our curated list of related YouTube videos on KMEM.
DRAM (Roundhill Memory ETF), DRMP (Tuttle Capital Memory Stack Income Blast ETF), HBMX (Tuttle Capital Concentrated Memory Stack ETF), KMEM (Kurv Memory Select ETF) are ETFs that take different approaches.
DRMP reports a 39.94% distribution yield; the others have not yet established a full distribution history.
DRAM and KMEM tie for the lowest expense ratio at 0.65%, compared to 0.95% for DRMP and 0.95% for HBMX.
DRAM has the most assets at $18.8B, but DRMP, HBMX, KMEM only launched recently — AUM comparisons will become more meaningful as they build a track record.
Still deciding? Track DRAM, DRMP, HBMX & KMEM for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment: DRAM pays no distribution (not a payer; a blank rate is not a zero yield), DRMP generates ~$76.81 cash per distribution, HBMX has no reported yield yet, KMEM pays no distribution (not a payer; a blank rate is not a zero yield) at current distribution rates.
DRAM yield—
DRMP yield39.94%
HBMX yield—
KMEM yield—
Cost & efficiency
Over 10 years on $10,000: DRAM costs ~$650, DRMP costs ~$950, HBMX costs ~$950, KMEM costs ~$650 in fees (simplified, not compounded).
DRAM ER0.65%
DRMP ER0.95%
HBMX ER0.95%
KMEM ER0.65%
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; KMEM tracks Basket (Memory Semiconductor Stocks) with an artificial intelligence (ai) approach.
DRAM beta4.1626
DRMP beta—
HBMX beta—
KMEM beta—
Fund details
DRAM is managed by Roundhill Investments (launched 04/02/2026) with $18.8B in assets. DRMP is managed by Tuttle Capital Management (launched 06/11/2026) with $5.21M in assets. HBMX is managed by Tuttle Capital Management (launched 06/02/2026) with $26.7M in assets. KMEM is managed by Kurv (launched 06/30/2026) with $28.0M in assets.
Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.
Frequently asked questions
What is the difference between KMEM and DRAM?
KMEM (Kurv Memory Select ETF) and DRAM (Roundhill Memory ETF) both concentrate in memory chips, with different issuers and rules. HBMX (Tuttle Capital Concentrated Memory Stack ETF) is a more concentrated memory-stack bet. Cost is 0.65%, 0.65%, and 0.95% as of October 2026. Theme overlap is high; compare holdings and fees rather than a near-zero yield gap.
Which of DRAM, DRMP, HBMX, and KMEM 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 and KMEM are 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, and KMEM?
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. KMEM (Kurv Memory Select ETF) tracks Basket (Memory Semiconductor Stocks) with an artificial intelligence (ai) approach, issued by Kurv.
Can I hold DRAM, DRMP, HBMX, and KMEM 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, and KMEM?
DRAM has an expense ratio of 0.65%, DRMP has an expense ratio of 0.95%, HBMX has an expense ratio of 0.95%, KMEM has an expense ratio of 0.65%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 generate in each?
$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 yields ~$76.81 cash per distribution ($3,994.00/year). $10,000 in HBMX has no reported cash yet. $10,000 in KMEM has no distribution to estimate, because KMEM is not a payer and a blank rate is not a zero yield.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
These four ETFs all track memory semiconductor companies—DRAM, NAND, and high-bandwidth memory (HBM) producers plus their supply chains—riding the AI infrastructure wave.
How they differ
The largest structural gap is DRMP's synthetic income overlay. It sells put spreads on memory-related securities to generate 39.94% in distributions, a strategy that introduces options leverage and NAV erosion risk absent from the other three, which distribute nothing or rarely. DRAM is the largest fund at $18.8B with the lowest expense ratio at 0.65%, while KMEM and HBMX are both micro-cap at $28.0M and $26.7M respectively; DRMP sits between them at $5.21M but carries the highest expense ratio at 0.95%. DRAM's beta of 4.1626 is the only published beta here, signaling extreme sensitivity to broad market moves—the other three do not publish beta figures.
Who each is best for
DRAM: Fits investors seeking long-term memory semiconductor exposure through a simple, low-cost passive vehicle with no income complications and can tolerate very high market-cycle volatility.
KMEM: Fits buy-and-hold investors favoring a straightforward memory semiconductor basket with passive or minimalist management at a low expense ratio and no distribution complications.
Key risks to know
NAV erosion at extreme distribution yields.DRMP's 39.94% annualized payout is driven by put-spread income that does not come from chip-company earnings or price appreciation. Historical precedent across high-yield options-overlay ETFs shows this structure often reduces NAV over multiyear periods, especially during market rallies when short puts expire worthless.
Concentration and single-asset-class risk. All four funds hold 80%+ of assets in memory semiconductor equities. Any downturn in AI capex, chip-supply normalization, or memory-pricing pressure hits all four simultaneously; holdings may overlap substantially, eliminating diversification across the group.
Extreme beta and sector momentum dependence.DRAM's beta of 4.1626 means a 5% broad-market drop could produce a 20%+ decline in the fund. All four are thematic bets on AI infrastructure adoption; if memory demand softens or chip cycles weaken, even the passive options face amplified downside.
Options assignment and credit-spread tail risk in DRMP. Put spreads are short options. If memory stocks gap sharply lower, assignment risk could force the fund to hold unintended positions or face margin calls that disrupt the income strategy.
Bottom line
DRAM offers the largest asset base and lowest expense ratio for passive memory exposure, though its 4.16 beta means sharp market swings. DRMP delivers 39.94% distributions but relies on put-spread income that may not sustain current NAV; distributions likely include return of capital. HBMX pursues active selection across the memory ecosystem, while KMEM provides a simpler passive alternative. All four carry thematic and sector concentration risk that merits careful evaluation given their narrow focus on memory semiconductors and dependence on AI infrastructure spending.
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.
Still deciding? Compare them against your own portfolio
See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.
