The Kurv Memory Select ETF is an actively managed exchange-traded fund designed to provide concentrated exposure to companies involved in semiconductor memory production. The fund seeks to maximize total return and does not track an index. Under normal circumstances, it invests at least 80% of its net assets, plus investment-related borrowings, in securities of memory companies, derivatives tied to memory companies or ETFs providing exposure to those businesses.
The fund defines memory companies as businesses that design, manufacture or distribute semiconductor memory chips, including dynamic random-access memory, static random-access memory, NAND and NOR flash memory and emerging technologies such as magnetoresistive and resistive random-access memory. To qualify for the fund’s 80% investment policy, a company generally must derive at least 50% of its revenue or profits from memory-chip activities or have at least 50% of its assets connected to those activities.
KMEM may obtain exposure through common stocks, debt securities, options, futures, swaps and other derivatives. Assets not used for direct memory-company exposure may be invested in investment-grade fixed-income securities, preferred securities and, to a limited extent, high-yield debt. The fund is non-diversified, allowing it to hold a relatively concentrated portfolio of memory manufacturers. Kurv Investment Management LLC serves as investment adviser.
The fund began operations on June 30, 2026, trades on the Cboe BZX Exchange under the symbol KMEM and has an annual expense ratio of 0.65%.
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