Yorkville America Equities has launched the Yorkville America Next Generation Memory Index ETF (NYSE: NRAM), a new fund designed to track the YA MarketVector Next Generation Memory Index. The fund targets 20 companies involved in the design, development, manufacturing, and supply of physical memory technologies.
The ETF's primary holdings are heavily weighted toward major memory manufacturers. Micron Technology Inc (NASDAQ: MU) holds the largest position at 16.44% of the fund, followed by SK Hynix Inc (NASDAQ: SKHY) at 15.10% and SanDisk Corp (NASDAQ: SNDK) at 14.82%. Seagate Technology Holdings (NASDAQ: STX) and Western Digital Corp (NASDAQ: WDC) also hold meaningful weightings within the portfolio.
The launch is driven by surging demand for high-bandwidth memory (HBM) in the artificial intelligence sector. Mirae Asset Securities reports that HBM demand is expected to remain strong as chipmakers advance to HBM4 and increase memory capacity per accelerator. For example, AMD’s MI455X is expected to feature 12 HBM4 stacks and 432GB of memory, while Nvidia’s Rubin platform features 288GB.
Market analysts note that demand is broadening beyond Nvidia. Meta Platforms Inc (NASDAQ: META) and Microsoft Corp (NASDAQ: MSFT) are increasing HBM capacity in their custom AI accelerators. This shift benefits memory makers, with Counterpoint Research data indicating SK Hynix held a 50% revenue share in the second quarter, Samsung Electronics held 33%, and Micron held 18%.
The article highlights that NRAM differs from the existing Roundhill Memory ETF (BATS: DRAM) by offering broader exposure across the memory ecosystem, rather than a more concentrated bet on the cycle. Investors seeking broader semiconductor exposure can also look to the VanEck Semiconductor ETF (NASDAQ: SMH) or the iShares Semiconductor ETF (NASDAQ: SOXX).
