Memory Trade Dominates 2026 Leveraged ETF Launches

Investor demand for leveraged memory-chip exposure is surging.
The 2x leveraged long SanDisk ETF $SNXX has added roughly $1.5 billion in AUM since its January 27 launch, the largest increase among U.S.-listed leveraged ETFs launched this year.
The 2x leveraged long memory ETF $RAM has added another $500 million since debuting on June 24.
By comparison, leveraged ETFs tied to Applied Optoelectronics $AAOI, AXT $AXTI and Lumentum $LITE have each attracted less than $400 million since launch.
Remarkably, $SNXX alone has gained more AUM than the next four largest new U.S. leveraged ETF launches combined.
The memory trade is quickly becoming one of the most crowded leveraged themes in the market.