AOMR vs. DX

Last updated Jun 5, 2026

AOMR (Angel Oak Mortgage, Inc.) and DX (Dynex Capital, Inc.) are both stocks. Both operate in the REIT - Mortgage industry within the Real Estate sector. Over the past 3 years, AOMR returned 16.50%/yr vs 19.93%/yr for DX. At a 0.40 correlation, their price movements are largely independent.

Performance

AOMR vs. DX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Angel Oak Mortgage, Inc. (AOMR) and Dynex Capital, Inc. (DX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOMR achieves a 1.76% return, which is significantly higher than DX's 0.15% return.

AOMR

• 1D: 1.88%
• 1M: -2.99%
• YTD: 1.76%
• 6M: -0.32%
• 1Y: 4.82%
• 3Y*: 16.50%
• 5Y*: —
• 10Y*: —

DX

• 1D: 1.72%
• 1M: -1.17%
• YTD: 0.15%
• 6M: 1.09%
• 1Y: 26.14%
• 3Y*: 19.93%
• 5Y*: 4.31%
• 10Y*: 7.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AOMR vs. DX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AOMR Angel Oak Mortgage, Inc.	1.76%	6.20%	-1.89%	159.86%	-67.27%	-9.73%
DX Dynex Capital, Inc.	0.15%	29.48%	13.64%	11.91%	-15.39%	-10.85%

Correlation

The correlation between AOMR and DX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jun 18, 2021	0.40

Fundamentals

Market Cap AOMR : $201.28M DX : $2.60B
EPS AOMR : $0.66 DX : $1.59
PE Ratio AOMR : 12.39 DX : 8.17
PS Ratio AOMR : 3.26 DX : 2.84
PB Ratio AOMR : 0.78 DX : 1.00
Total Revenue (TTM) AOMR : $61.18M DX : $695.85M
Gross Profit (TTM) AOMR : $51.68M DX : $695.85M
EBITDA (TTM) AOMR : $39.68M DX : $900.29M

Return for Risk

AOMR vs. DX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AOMR

AOMR Risk / Return Rank: 46
AOMR Sharpe Ratio Rank: 49
AOMR Sortino Ratio Rank: 41
AOMR Omega Ratio Rank: 41
AOMR Calmar Ratio Rank: 49
AOMR Martin Ratio Rank: 49

DX

DX Risk / Return Rank: 77
DX Sharpe Ratio Rank: 82
DX Sortino Ratio Rank: 77
DX Omega Ratio Rank: 75
DX Calmar Ratio Rank: 72
DX Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AOMR vs. DX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Mortgage, Inc. (AOMR) and Dynex Capital, Inc. (DX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AOMR	DX	Difference
Sharpe ratio: Return per unit of total volatility	0.21	1.50	-1.30
Sortino ratio: Return per unit of downside risk	0.43	2.10	-1.67
Omega ratio: Gain probability vs. loss probability	1.05	1.26	-0.21
Calmar ratio: Return relative to maximum drawdown	0.31	1.72	-1.41
Martin ratio: Return relative to average drawdown	0.63	5.43	-4.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOMR vs. DX - Sharpe Ratio Comparison

The current AOMR Sharpe Ratio is 0.21, which is lower than the DX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of AOMR and DX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AOMR	DX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	1.50	-1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.18	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	0.17	-0.28

Drawdowns

AOMR vs. DX - Drawdown Comparison

The maximum AOMR drawdown since its inception was -71.21%, smaller than the maximum DX drawdown of -99.12%. Use the drawdown chart below to compare losses from any high point for AOMR and DX.

Drawdown Indicators

	AOMR	DX	Difference
Max Drawdown Largest peak-to-trough decline	-71.21%	-99.12%	+27.91%
Max Drawdown (1Y) Largest decline over 1 year	-15.57%	-15.27%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-37.21%	-25.81%	-11.40%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-56.76%	—
Current Drawdown Current decline from peak	-19.67%	-31.45%	+11.78%
Average Drawdown Average peak-to-trough decline	-23.42%	-56.81%	+33.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.62%	4.83%	+2.79%

Volatility

AOMR vs. DX - Volatility Comparison

Angel Oak Mortgage, Inc. (AOMR) has a higher volatility of 7.23% compared to Dynex Capital, Inc. (DX) at 4.40%. This indicates that AOMR's price experiences larger fluctuations and is considered to be riskier than DX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOMR	DX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	4.40%	+2.83%
Volatility (6M) Calculated over the trailing 6-month period	15.93%	13.55%	+2.38%
Volatility (1Y) Calculated over the trailing 1-year period	23.52%	17.46%	+6.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.72%	23.86%	+14.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.72%	29.87%	+8.85%

Dividends

AOMR vs. DX - Dividend Comparison

AOMR's dividend yield for the trailing twelve months is around 15.74%, which matches DX's 15.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOMR Angel Oak Mortgage, Inc.	15.74%	14.87%	13.79%	12.08%	35.31%	2.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DX Dynex Capital, Inc.	15.68%	14.13%	11.46%	12.46%	12.26%	9.34%	9.33%	11.87%	12.59%	10.27%	12.32%	15.12%

Financials

Frequently Asked Questions

Can I hold both AOMR and DX in my portfolio?

AOMR and DX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AOMR or DX?

AOMR has higher volatility (7.23%) compared to DX (4.40%). In terms of maximum drawdown, AOMR dropped -71.21% vs DX's -99.12%.

Which has better risk-adjusted returns?

DX currently has the higher Sharpe Ratio (1.50 vs 0.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.