Defiance China Memory ETF
CRAM
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- Defiance China Memory ETF is a passively managed exchange-traded fund that seeks to track the performance, before fees and expenses, of the BITA China Memory Index and provides targeted exposure to companies listed in mainland China and Hong Kong that are principally engaged in the China memory and storage semiconductor value chain, including firms involved in the design, manufacture, packaging, and distribution of DRAM, NAND, NOR, and solid-state storage products. The fund trades on Nasdaq under the ticker CRAM, carries a gross expense ratio of 0.67%, was launched on September 9, 2026, and had fund holdings concentrated in the China memory and storage supply chain at inception. Defiance ETFs LLC, founded in 2018 and headquartered in Miami, Florida, serves as the investment adviser and sponsor behind CRAM and operates as a thematic, income, and leveraged ETF issuer with a broader lineup of ETFs spanning first-mover leveraged single-stock strategies and other specialized exposures. The firm arranges fund administration and related operating services through its ETF platform, and its business is directed at U.S. investors seeking targeted, rules-based access to distinct market themes and sector niches. The latest major company development is the September 2026 launch of CRAM, which Defiance described as the first U.S.-listed China memory and storage ETF, expanding its semiconductor-themed franchise alongside other recent launches and reflecting a continued strategy of bringing niche, single-theme products to market. Defiance also reported continued growth in assets under management in 2026 and has remained active in rolling out new thematic ETFs and leveraged strategies across technology, robotics, and other specialized segments.