Memory ETF DRAM posts $2 billion October outflows, largest since launch

The Memory ETF DRAM is experiencing sustained outflows and price pressure alongside a broader pullback in memory chip plays.

Flows and withdrawals

- October month-to-date outflows: -$2.0 billion, on track for the largest monthly withdrawal since launch on April 2.
- Third consecutive monthly outflow: -$1.6 billion in September and -$400 million in August.
- Last week: -$105 million, the ninth consecutive weekly withdrawal.

Price performance

- DRAM is down -23% month-to-date and trades near its lowest level since early May.
- Since inception: up +70% after peaking at a +190% gain in mid-June.

Leveraged exposure

- The 2x leveraged long Memory ETF RAM is down -66% since its June 24 debut.

Sector context

- The memory chip trade has pulled back, aligning with the sustained outflows and price declines reported for DRAM and RAM.