BMAX vs. DRNZ

Last updated Jun 4, 2026

BMAX (REX Bitcoin Corporate Treasury Convertible Bond ETF) and DRNZ (REX Drone ETF) are both exchange-traded funds - BMAX is a Convertible Bonds fund actively managed by REX, while DRNZ is a Aerospace & Defense fund tracking the VettaFi Drone Index. BMAX is actively managed, while DRNZ is passively managed. At a 0.31 correlation, their price movements are largely independent. BMAX charges 1.14%/yr vs 0.65%/yr for DRNZ.

Performance

BMAX vs. DRNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) and REX Drone ETF (DRNZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BMAX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DRNZ

• 1D: -6.81%
• 1M: 4.78%
• YTD: 24.77%
• 6M: 32.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BMAX vs. DRNZ - Yearly Performance Comparison

	2026 (YTD)	2025
BMAX REX Bitcoin Corporate Treasury Convertible Bond ETF	4.03%	-16.19%
DRNZ REX Drone ETF	24.77%	-10.89%

Correlation

The correlation between BMAX and DRNZ is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 30, 2025	0.31

Return for Risk

BMAX vs. DRNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX) and REX Drone ETF (DRNZ). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BMAX	DRNZ	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.39	—

Drawdowns

Drawdown Indicators

	BMAX	DRNZ	Difference
Max Drawdown Largest peak-to-trough decline	—	-24.52%	—
Current Drawdown Current decline from peak	—	-7.44%	—
Average Drawdown Average peak-to-trough decline	—	-11.12%	—

Volatility

Volatility by Period

	BMAX	DRNZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	50.82%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	50.82%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	50.82%	—

BMAX vs. DRNZ - Expense Ratio Comparison

BMAX has a 1.14% expense ratio, which is higher than DRNZ's 0.65% expense ratio.

Dividends

BMAX vs. DRNZ - Dividend Comparison

Neither BMAX nor DRNZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BMAX and DRNZ in my portfolio?

BMAX and DRNZ have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BMAX or DRNZ?

On fees, DRNZ is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMAX or DRNZ?

DRNZ is cheaper with a 0.65% expense ratio, compared with 1.14% for BMAX.

Which ETF pays a higher dividend yield, BMAX or DRNZ?

BMAX and DRNZ have nearly identical dividend yields, around 0.00%.

What is the main difference between BMAX and DRNZ?

BMAX is categorized as Convertible Bonds, while DRNZ is Aerospace & Defense. Their fees differ too: 1.14% for BMAX and 0.65% for DRNZ.