As of June 30, 2026, Roundhill officially lists Micron, Samsung, SK Hynix, SanDisk, and Kioxia as its primary exposures. Public filings indicate that Samsung Electronics, Micron, and SK Hynix each constitute close to or more than a quarter of the fund’s portfolio, making them the key companies driving DRAM ETF performance.
These firms do not offer identical products. Micron, Samsung, and SK Hynix focus primarily on DRAM, HBM, and NAND, while SanDisk and Kioxia concentrate on NAND flash, enterprise SSDs, and high-capacity storage. This diversification allows the fund to capture both AI data processing and long-term data retention segments.
Which Companies Are Mainly Covered by DRAM ETF Holdings
DRAM ETF holdings are concentrated among the world’s leading storage manufacturers, rather than spanning the entire semiconductor supply chain. According to the fund prospectus, eligible companies must typically derive at least 50% of their revenue or profit from HBM, DRAM, NAND, NAND-based SSDs, NOR, HDD, or specialty and embedded storage businesses.
Roundhill further requires that selected companies have a minimum market capitalization of $10 billion and an average daily trading volume of at least $5 million. These criteria ensure the portfolio is weighted toward large-scale, globally recognized storage enterprises with strong liquidity.
As of June 30, 2026, the key exposures officially disclosed are as follows. Portfolio holdings and weights may change due to active management, market price fluctuations, and quarterly rebalancing, and should not be interpreted as permanently fixed.
| Core Company |
Main Storage Focus |
Portfolio Role |
| Samsung Electronics |
HBM, DRAM, NAND, Enterprise SSD |
Broad-based global storage leader exposure |
| Micron Technology |
HBM, DRAM, NAND, Data Center SSD |
Pure-play US-listed storage exposure |
| SK Hynix |
HBM, DRAM, NAND |
Focused AI high-bandwidth and server memory exposure |
| SanDisk |
NAND, Enterprise & Consumer SSD |
Expands flash memory and high-capacity storage coverage |
| Kioxia Holdings |
NAND, BiCS FLASH, Enterprise SSD |
Japanese flash and AI storage exposure |
The portfolio does not follow a simple equal-weighting approach. DRAM ETF uses a modified market capitalization weighting methodology, factoring in both storage market share and the proportion of storage revenue, so companies with larger scale and higher storage business concentration generally receive higher weights.
Micron’s Role in the DRAM ETF
Micron serves as the leading US-listed storage company and multi-product memory supplier within the DRAM ETF. Its product suite spans HBM, traditional DRAM, NAND, and data center storage, enabling it to address AI accelerator memory, server system memory, and long-term storage requirements.
In AI infrastructure, Micron’s HBM products are primarily used to deliver sustained high-bandwidth data to GPUs and other accelerators. The company also provides DDR, LPDDR, NAND, and data center SSDs, so its business is not solely reliant on HBM but supports multiple tiers of the AI data pipeline.
Micron is also a core DRAM ETF component directly accessible via US equity markets. In contrast to Samsung and SK Hynix, which are primarily traded in Asia, Micron offers the fund direct USD-denominated and US-listed exposure, supporting global portfolio balance.
According to Roundhill’s June 30, 2026 data, Micron’s weight is approximately 24.82%, ranking among the fund’s top three holdings. Consequently, Micron’s share price and operational performance can significantly impact the DRAM ETF’s NAV and market price.
How Samsung Electronics and SK Hynix Provide HBM and DRAM Exposure
Samsung Electronics and SK Hynix serve as DRAM ETF’s primary gateways to the Korean memory industry. Both companies offer DRAM, HBM, and NAND, but Samsung has a more diversified business mix, while SK Hynix is more focused on memory semiconductors, leading to different sensitivities to the storage cycle.
Within the DRAM ETF, Samsung Electronics provides broad-based memory industry exposure. The company’s offerings include server DRAM, HBM, NAND, and enterprise SSDs, and in 2026, it is advancing HBM4 commercialization and HBM4E product deployment, positioning its holdings to reflect both traditional and advanced AI memory demand.
SK Hynix delivers highly focused HBM and DRAM exposure. The company positions itself as a DRAM and NAND supplier, continually expanding its HBM, AI-DRAM, and AI-NAND product lines, making its performance closely tied to AI servers, high-performance computing, and storage pricing cycles.
| Comparison Factor |
Samsung Electronics |
SK Hynix |
| Main Memory Products |
HBM, DRAM, NAND, SSD |
HBM, DRAM, NAND |
| Business Scope |
Semiconductors, consumer electronics, displays, etc. |
Core focus on storage semiconductors |
| AI Industry Role |
Broad HBM, server memory, NAND coverage |
Higher sensitivity to HBM & AI memory demand |
| Value to Fund |
Comprehensive large-cap tech exposure |
High-purity storage industry exposure |
| Key Impact Variables |
Storage & non-storage business drivers |
HBM ramp-up, DRAM/NAND cycles, capacity |
| Regional Attribute |
Korea-listed |
Korea-listed |
As of June 30, 2026, Roundhill reports Samsung Electronics at a 25.55% weight and SK Hynix at 23.60%. Together, they represent a significant share of the fund, so Korean market dynamics, KRW exchange rates, and local trading hours can also affect DRAM ETF valuation and trading.
How Kioxia, SanDisk, and Enterprise SSDs Supplement the NAND Segment
Kioxia and SanDisk provide DRAM ETF with targeted exposure to NAND flash and enterprise SSDs. Unlike Micron, Samsung, and SK Hynix, which cover both HBM and DRAM, these two companies are more focused on non-volatile storage, adding coverage for long-term data preservation, data center SSDs, and high-capacity flash.
Kioxia specializes in flash memory and SSDs, with a long-standing focus on BiCS FLASH and other 3D NAND technologies. The company targets data center and enterprise storage markets, advancing high-bandwidth, high-IOPS, and high-capacity SSDs to support AI inference and enterprise data processing.
SanDisk addresses the AI data cycle through enterprise SSDs, NAND platforms, and high-capacity NVMe products. Its enterprise storage solutions encompass data collection, model training, checkpointing, and inference data storage, offering the fund persistent storage exposure distinct from near-term HBM.
Kioxia and SanDisk also collaborate on 3D flash technology and manufacturing. They jointly develop next-generation NAND and will begin producing advanced 3D flash in 2026. Thus, while they are independent holdings, their technological and supply chain capabilities are interconnected.
How Global Storage Companies Create a Diversified Portfolio Structure
DRAM ETF achieves cross-market memory industry exposure by combining US, Korean, and Japanese firms. Micron represents the US, Samsung and SK Hynix provide Korean HBM and DRAM exposure, and Kioxia and SanDisk reinforce Japanese and global NAND and SSD supply chains.
This geographic distribution reduces reliance on any single country or securities market, but does not equate to high diversification. The fund prospectus explicitly classifies DRAM ETF as a non-diversified fund, noting that the portfolio will be heavily invested in Asian and Korean issuers, so a small number of companies, countries, or industry events can still significantly impact the fund.
Diversification within the fund is primarily reflected in product types and listing venues, not in the number of components. Core holdings map as follows:
- HBM and advanced DRAM: SK Hynix, Samsung, Micron
- Traditional server DRAM: Micron, Samsung, SK Hynix
- NAND and enterprise SSD: Kioxia, SanDisk, Samsung, Micron
- Diversified technology: Samsung Electronics
- US-listed storage: Micron, SanDisk
This structure enables DRAM ETF to cover AI accelerator memory, server system memory, and long-term storage needs. However, due to high industry concentration, the top three companies may still account for the majority of portfolio weight.
How Portfolio Adjustments and Quarterly Rebalancing Impact DRAM ETF
Portfolio adjustments and quarterly rebalancing determine how DRAM ETF reallocates exposures as the industry evolves. The fund’s manager uses a proprietary methodology to adjust the portfolio at least quarterly, recalculating company weights based on modified market capitalization, storage market share, and storage revenue proportion.
A single company’s weight is generally capped at 25%, but actual market movements may cause holdings to temporarily exceed or fall below this target between rebalancing dates. Roundhill’s published holdings also aggregate direct stock positions and exposures from total return swaps, so disclosed weights may not exactly match the fund’s actual share counts.
Rebalancing can change the fund structure in three ways: (1) if a company’s market cap or storage share increases, its target weight may rise; (2) if storage revenue proportion falls or screening criteria are no longer met, holdings may be reduced; (3) newly listed or more liquid storage firms may be added to the portfolio.
Active management enables the fund to adapt to HBM, DRAM, and NAND industry shifts, but also introduces manager judgment risk. If the manager misjudges product cycles, company competitiveness, or allocation, DRAM ETF may underperform other storage or broad semiconductor indices.
Summary
The core holdings of DRAM ETF comprise leading global storage companies: Micron, Samsung Electronics, SK Hynix, SanDisk, and Kioxia. The first three provide primary HBM, DRAM, and NAND exposure, while the latter two supplement with flash memory and enterprise SSDs, allowing the fund to cover the full spectrum from AI accelerator memory to long-term data storage.
The fund manages its holdings through active screening, modified market cap weighting, and quarterly rebalancing, establishing exposure via direct equities, depositary receipts, and total return swaps. While the portfolio spans the US, Korea, and Japan, weights remain concentrated in a few large storage manufacturers, so core company performance has a significant impact on DRAM ETF.
FAQ
Which companies are currently the main holdings of DRAM ETF?
As of June 30, 2026, the main exposures are Samsung Electronics, Micron, SK Hynix, SanDisk, and Kioxia. Actual holdings and weights are subject to ongoing adjustment.
What are the three largest DRAM ETF holdings?
Official disclosures show Samsung Electronics, Micron, and SK Hynix as the top three components, together accounting for the majority of the fund’s HBM, DRAM, and NAND exposure.
Why does Micron have a large weighting in DRAM ETF?
Micron covers HBM, DRAM, NAND, and data center SSDs, and is a leading US-listed storage company, resulting in high business concentration and liquidity.
Why is Samsung Electronics a core holding of DRAM ETF?
Samsung Electronics operates HBM, server DRAM, NAND, and enterprise SSD businesses, providing the fund with comprehensive exposure to multiple storage segments.
What is the role of Kioxia and SanDisk in the fund?
Kioxia and SanDisk primarily provide exposure to NAND, flash memory, and enterprise SSDs, supplementing the HBM and DRAM businesses of Micron, Samsung, and SK Hynix.
How often does DRAM ETF rebalance its holdings?
DRAM ETF rebalances at least quarterly, with the manager adjusting portfolio weights based on market cap, storage business share, market share, and liquidity.
