Here’s a fun paradox for you. An ETF can rally 35% in a year and still leave the majority of its investors in the red. That’s exactly what’s happening with the Roundhill Meme Stock ETF, ticker appropriately named MEME, which closed at $8.41 on July 9. That price sits roughly 15% below where it launched in October 2025.
In English: the fund is having a great 2026 on paper, but if you bought in at the beginning, you’re still waiting to break even. And if you bought during any of the hype-driven spikes along the way, you might be in even worse shape.
The second life of a meme machine
The Roundhill Meme Stock ETF isn’t new. Its original incarnation launched with much fanfare, then proceeded to fall 57% from its initial price before Roundhill quietly shut it down in December 2023. Rising interest rates and evaporating retail enthusiasm did what fundamentals couldn’t: they killed the vibe.
Roundhill relaunched the fund on October 8, 2025, betting that a new wave of retail speculation would revive demand for a packaged meme-stock product. That bet has partially paid off, with the ETF climbing approximately 35% year-to-date in 2026, including a 3.5% pop on July 9 alone.
