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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in REX Bitcoin Corporate Treasury Convertible Bond ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) has returned -0.71% so far this year and -9.61% over the past 12 months.
REX Bitcoin Corporate Treasury Convertible Bond ETF
- 1D
- 0.21%
- 1M
- 0.84%
- YTD
- -0.71%
- 6M
- -19.51%
- 1Y
- -9.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Mar 14, 2025, BMAX's average daily return is -0.04%, while the average monthly return is -0.94%.
Historically, 54% of months were positive and 46% were negative. The best month was Apr 2025 with a return of +14.1%, while the worst month was Nov 2025 at -11.9%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 3 months.
On a daily basis, BMAX closed higher 47% of trading days. The best single day was Apr 9, 2025 with a return of +13.4%, while the worst single day was Apr 7, 2025 at -7.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.68% | -4.10% | 0.84% | -0.71% | |||||||||
| 2025 | -4.49% | 14.11% | 1.04% | 1.78% | 0.56% | -7.68% | 3.09% | -5.88% | -11.93% | -2.21% | -13.05% |
Benchmark Metrics
REX Bitcoin Corporate Treasury Convertible Bond ETF has an annualized alpha of -21.41%, beta of 0.96, and R² of 0.29 versus S&P 500 Index. Calculated based on daily prices since March 17, 2025.
- This ETF tended to rise when S&P 500 Index fell (downside capture of -46.02%), but participation in market rallies was also limited (-59.51%) — a profile typical of counter-cyclical assets.
- R² of 0.29 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -21.41%
- Beta
- 0.96
- R²
- 0.29
- Upside Capture
- -59.51%
- Downside Capture
- -46.02%
Expense Ratio
BMAX has a high expense ratio of 1.14%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BMAX ranks 7 for risk / return — in the bottom 7% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) and compare them to a chosen benchmark (S&P 500 Index).
| BMAX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.30 | 0.90 | -1.20 |
Sortino ratioReturn per unit of downside risk | -0.24 | 1.39 | -1.63 |
Omega ratioGain probability vs. loss probability | 0.97 | 1.21 | -0.24 |
Calmar ratioReturn relative to maximum drawdown | -0.36 | 1.40 | -1.76 |
Martin ratioReturn relative to average drawdown | -0.61 | 6.61 | -7.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore BMAX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the REX Bitcoin Corporate Treasury Convertible Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the REX Bitcoin Corporate Treasury Convertible Bond ETF was 31.32%, occurring on Feb 5, 2026. The portfolio has not yet recovered.
The current REX Bitcoin Corporate Treasury Convertible Bond ETF drawdown is 29.17%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -31.32% | Jul 17, 2025 | 141 | Feb 5, 2026 | — | — | — |
| -19.02% | Mar 26, 2025 | 10 | Apr 8, 2025 | 11 | Apr 24, 2025 | 21 |
| -8.61% | May 14, 2025 | 26 | Jun 20, 2025 | 15 | Jul 14, 2025 | 41 |
| -3.61% | Mar 17, 2025 | 2 | Mar 18, 2025 | 1 | Mar 19, 2025 | 3 |
| -1.98% | May 5, 2025 | 1 | May 5, 2025 | 3 | May 8, 2025 | 4 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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