The memory-chip trade is dominating the newest wave of leveraged ETF launches. Assets under management in the 2x leveraged long SanDisk ETF, ticker SNXX, have grown by more than $1.5 billion since its January 27, 2026 launch — the largest increase of any US-listed leveraged ETF launched this year, according to The Kobeissi Letter.
The fund's early trajectory was especially steep. Issuer Tradr ETFs said SNXX amassed $650 million in assets within its first 24 trading days, averaging more than $27 million in net new inflows per day — a pace the issuer characterized as an industry growth record for a single-stock leveraged product.
What SNXX Actually Offers
SNXX seeks daily investment results, before fees and expenses, that correspond to 200% of the daily performance of SanDisk Corp. (Nasdaq: SNDK) common shares. That structure gives traders a capital-efficient way to express a high-conviction bullish view on SanDisk without needing a margin account or options strategy — but it also means the fund's returns compound daily rather than tracking the stock's performance linearly over longer holding periods, a distinction that matters more the longer an investor holds the position.
Part of a Broader Memory-Chip Rally
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SNXX's rapid asset growth reflects surging investor interest in memory and storage chipmakers more broadly, a corner of the semiconductor market that has drawn outsized attention as AI infrastructure buildouts increase demand for high-capacity storage and memory components. The fund's launch timing, coming as SanDisk shares themselves have been in focus, allowed it to capture a wave of leveraged positioning that more established single-stock ETFs on larger, more mature companies haven't matched this year.
The rapid AUM growth also illustrates how quickly capital can concentrate around a single leveraged product when a narrow, high-conviction trade catches on — a dynamic that cuts both ways if sentiment toward SanDisk or the broader memory-chip trade shifts.
