RAM +2x Roundhill T-REX 2X Long DRAM Daily Target ETF

RAM

ETF +2x BULL standard
Roundhill T-REX 2X Long DRAM Daily Target ETF
Issuer: T-Rex · Tracks: underlying · Listed: 2026-06-24
Implied AUM
$566.8M
Last Close
$12.34
20260720
30d Avg Vol
10,786,529
Options
—
Realized return vs theoretical +2x underlying

How RAM works

RAM targets +2x the daily return of underlying — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.

Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a +2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.

  • Short-term tactical: daily and intraday holds are where these products were designed to live.
  • Premium selling: options on RAM carry very rich IV — see the quote page for IV rank and straddle pricing.
  • Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.