"Meme Stocks Over the Long Run" finds that meme stock portfolios generate attractive gross returns in recent years. Can investors exploit that finding via an exchange-traded fund (ETF)? To investigate, we look at MEME, an active ETF that aims to hold 15-25 meme stocks selected based on retail trading activity, volatility, liquidity and social media activity/sentiment. Portfolio weights for the stocks held by MEME are discretionary. Because of its very short history and high turnover, we look at daily returns, along with compound annual growth rate (CAGR) and maximum drawdown (MaxDD). We choose Vanguard Total Stock Market Index Fund ETF (VTI) as a benchmark. Using daily dividend-adjusted prices for MEME and VTI during October 8, 2025 (limited by MEME) through July 22, 2026, we find that:
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