BMAX vs. TSII

Last updated Jun 4, 2026

BMAX (REX Bitcoin Corporate Treasury Convertible Bond ETF) and TSII (REX TSLA Growth & Income ETF) are both exchange-traded funds - BMAX is a Convertible Bonds fund actively managed by REX, while TSII is a Leveraged Equities fund actively managed by REX. Both are actively managed. At a 0.36 correlation, their price movements are largely independent. BMAX charges 1.14%/yr vs 0.99%/yr for TSII.

Performance

BMAX vs. TSII - 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 TSLA Growth & Income ETF (TSII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BMAX

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

TSII

• 1D: -1.87%
• 1M: 4.80%
• YTD: -8.47%
• 6M: -10.32%
• 1Y: 31.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BMAX vs. TSII - Yearly Performance Comparison

	2026 (YTD)	2025
BMAX REX Bitcoin Corporate Treasury Convertible Bond ETF	4.03%	-22.75%
TSII REX TSLA Growth & Income ETF	-8.47%	43.72%

Correlation

The correlation between BMAX and TSII is 0.36, 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 Jun 5, 2025	0.36

Return for Risk

BMAX vs. TSII - 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 TSLA Growth & Income ETF (TSII). 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	TSII	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.69	—

Drawdowns

Drawdown Indicators

	BMAX	TSII	Difference
Max Drawdown Largest peak-to-trough decline	—	-29.03%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-29.03%	—
Current Drawdown Current decline from peak	—	-16.36%	—
Average Drawdown Average peak-to-trough decline	—	-9.34%	—

Volatility

Volatility by Period

	BMAX	TSII	Difference
Volatility (1Y) Calculated over the trailing 1-year period	—	45.99%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	45.99%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	45.99%	—

BMAX vs. TSII - Expense Ratio Comparison

BMAX has a 1.14% expense ratio, which is higher than TSII's 0.99% expense ratio.

Dividends

BMAX vs. TSII - Dividend Comparison

BMAX has not paid dividends to shareholders, while TSII's dividend yield for the trailing twelve months is around 71.64%.

Position	TTM	2025
BMAX REX Bitcoin Corporate Treasury Convertible Bond ETF	0.00%	0.00%
TSII REX TSLA Growth & Income ETF	71.64%	32.17%

Frequently Asked Questions

Can I hold both BMAX and TSII in my portfolio?

BMAX and TSII have a correlation of 0.36, 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 TSII?

On fees, TSII is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BMAX or TSII?

TSII is cheaper with a 0.99% expense ratio, compared with 1.14% for BMAX.

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

TSII has the higher dividend yield at 71.64%, compared with 0.00% for BMAX.

What is the main difference between BMAX and TSII?

BMAX is categorized as Convertible Bonds, while TSII is Leveraged Equities. Their fees differ too: 1.14% for BMAX and 0.99% for TSII.