DRAM vs. AVALX

Last updated Jun 14, 2026

DRAM (Roundhill Memory ETF) and AVALX (Aegis Value Fund) are both funds - DRAM is a Technology Equities fund actively managed by Roundhill, while AVALX is a Small Cap Value Equities fund managed by Aegis. At a 0.47 correlation, their price movements are largely independent. DRAM charges 0.65%/yr vs 1.50%/yr for AVALX.

Performance

DRAM vs. AVALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Memory ETF (DRAM) and Aegis Value Fund (AVALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DRAM

• 1D: -0.17%
• 1M: 27.22%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVALX

• 1D: 1.78%
• 1M: -3.21%
• YTD: 17.29%
• 6M: 17.59%
• 1Y: 48.80%
• 3Y*: 32.38%
• 5Y*: 20.79%
• 10Y*: 20.09%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DRAM vs. AVALX - Yearly Performance Comparison

	2026 (YTD)
DRAM Roundhill Memory ETF	140.78%
AVALX Aegis Value Fund	1.15%

Correlation

The correlation between DRAM and AVALX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 2, 2026	0.47

Return for Risk

DRAM vs. AVALX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DRAM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

AVALX

AVALX Risk / Return Rank: 92
AVALX Sharpe Ratio Rank: 96
AVALX Sortino Ratio Rank: 87
AVALX Omega Ratio Rank: 86
AVALX Calmar Ratio Rank: 97
AVALX Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DRAM vs. AVALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Memory ETF (DRAM) and Aegis Value Fund (AVALX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DRAM	AVALX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.00	—
Sortino ratio: Return per unit of downside risk	—	3.66	—
Omega ratio: Gain probability vs. loss probability	—	1.51	—
Calmar ratio: Return relative to maximum drawdown	—	6.25	—
Martin ratio: Return relative to average drawdown	—	21.12	—

Drawdowns

DRAM vs. AVALX - Drawdown Comparison

The maximum DRAM drawdown since its inception was -19.97%, smaller than the maximum AVALX drawdown of -73.72%. Use the drawdown chart below to compare losses from any high point for DRAM and AVALX.

Drawdown Indicators

	DRAM	AVALX	Difference
Max Drawdown Largest peak-to-trough decline	-19.97%	-73.72%	+53.75%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.32%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.59%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.34%	—
Current Drawdown Current decline from peak	-6.74%	-4.41%	-2.33%
Average Drawdown Average peak-to-trough decline	-3.06%	-10.94%	+7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.46%	—

Volatility

Volatility by Period

	DRAM	AVALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	87.02%	17.35%	+69.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	87.02%	22.31%	+64.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	87.02%	22.18%	+64.84%

DRAM vs. AVALX - Expense Ratio Comparison

DRAM has a 0.65% expense ratio, which is lower than AVALX's 1.50% expense ratio.

Dividends

DRAM vs. AVALX - Dividend Comparison

DRAM has not paid dividends to shareholders, while AVALX's dividend yield for the trailing twelve months is around 1.99%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVALX Aegis Value Fund	1.99%	2.34%	7.07%	2.23%	0.16%	0.00%	6.62%	2.36%	6.18%	0.00%	1.45%	0.04%
DRAM Roundhill Memory ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DRAM and AVALX in my portfolio?

DRAM and AVALX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.