The Roundhill Memory ETF, trading under the ticker DRAM, has achieved a significant milestone by attracting over $200 million in retail net buying within just 27 trading days since its launch on April 2, 2025. This marks the fastest thematic ETF launch to reach this milestone since 2020. The fund, which focuses on high-bandwidth memory (HBM) crucial for AI server buildouts, has returned approximately 88% since inception. DRAM's concentrated investment strategy targets companies manufacturing memory components, with SK Hynix holding the largest position at 27.4% of the fund's weight. Other major holdings include Micron Technology, Samsung Electronics, and SanDisk. The ETF's rapid growth has propelled its assets under management to around $6 billion, making it one of the most successful ETF launches in recent years. However, its concentrated portfolio and retail-heavy ownership pose potential risks due to the cyclical nature of the memory semiconductor market and the volatility of retail investor behavior.