DISK vs. DRAM
After digging into both DRAM and DISK, I ultimately chose DISK.
It wasn't because I think DRAM is a bad ETF—it isn't. I simply prefer an ETF that primarily owns the underlying memory and storage companies rather than using total return swaps for part of its exposure.
Another factor that stood out to me was Tema's partnership with SemiAnalysis, the semiconductor and AI infrastructure research firm founded by Dylan Patel. SemiAnalysis is one of the most respected independent research firms covering semiconductors, AI infrastructure, memory, and hyperscale data centers. Having that level of technical research behind the ETF gave me additional confidence in the portfolio construction.
Comparison:
DISK (Tema Memory ETF) – MER: 0.75%, Current price: ~$40.81, Inception: June 2026
DRAM (Roundhill Memory ETF) – MER: 0.65%, Current price: ~$73.85, Inception: April 2026
I'm happy paying an extra 0.10% MER for the structure and research approach that better fits my investment style.
Long term, I believe memory is one of the biggest beneficiaries of AI. As models become larger and more capable, demand for HBM, NAND, enterprise SSDs, and storage infrastructure should continue to grow. DISK is how I've chosen to gain exposure to that theme.
