BTX vs. DX

Last updated Jun 6, 2026

BTX (BlackRock Technology and Private Equity Term Trust) and DX (Dynex Capital, Inc.) are both stocks. BTX operates in Asset Management (Financial Services), while DX operates in REIT - Mortgage (Real Estate). Over the past 5 years, BTX returned -6.19%/yr vs 4.08%/yr for DX. At a 0.41 correlation, their price movements are largely independent.

Performance

BTX vs. DX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Technology and Private Equity Term Trust (BTX) 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, BTX achieves a 37.95% return, which is significantly higher than DX's -0.93% return.

BTX

• 1D: -4.89%
• 1M: 7.73%
• YTD: 37.95%
• 6M: 35.34%
• 1Y: 37.09%
• 3Y*: 16.26%
• 5Y*: -6.19%
• 10Y*: —

DX

• 1D: -1.08%
• 1M: -2.31%
• YTD: -0.93%
• 6M: -1.07%
• 1Y: 24.37%
• 3Y*: 18.39%
• 5Y*: 4.08%
• 10Y*: 7.70%

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

BTX vs. DX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BTX BlackRock Technology and Private Equity Term Trust	37.95%	0.86%	13.42%	19.29%	-47.76%	-24.45%
DX Dynex Capital, Inc.	-0.93%	29.48%	13.64%	11.91%	-15.39%	-5.09%

Correlation

The correlation between BTX and DX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Mar 29, 2021	0.41

The correlation between BTX and DX shifts across timeframes, from 0.23 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BTX vs. DX — Risk / Return Rank

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

BTX

BTX Risk / Return Rank: 80
BTX Sharpe Ratio Rank: 83
BTX Sortino Ratio Rank: 79
BTX Omega Ratio Rank: 75
BTX Calmar Ratio Rank: 81
BTX Martin Ratio Rank: 81

DX

DX Risk / Return Rank: 75
DX Sharpe Ratio Rank: 80
DX Sortino Ratio Rank: 75
DX Omega Ratio Rank: 73
DX Calmar Ratio Rank: 70
DX Martin Ratio Rank: 76

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.

BTX vs. DX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Technology and Private Equity Term Trust (BTX) 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.

	BTX	DX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.40	+0.13
Sortino ratio: Return per unit of downside risk	2.19	1.97	+0.22
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.02
Calmar ratio: Return relative to maximum drawdown	2.66	1.60	+1.06
Martin ratio: Return relative to average drawdown	6.61	5.03	+1.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTX vs. DX - Sharpe Ratio Comparison

The current BTX Sharpe Ratio is 1.53, which is comparable to the DX Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of BTX 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

	BTX	DX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	1.40	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.21	0.17	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	0.17	-0.36

Drawdowns

BTX vs. DX - Drawdown Comparison

The maximum BTX drawdown since its inception was -67.27%, smaller than the maximum DX drawdown of -99.12%. Use the drawdown chart below to compare losses from any high point for BTX and DX.

Drawdown Indicators

	BTX	DX	Difference
Max Drawdown Largest peak-to-trough decline	-67.27%	-99.12%	+31.85%
Max Drawdown (1Y) Largest decline over 1 year	-13.99%	-15.27%	+1.28%
Max Drawdown (3Y) Largest decline over 3 years	-31.71%	-25.81%	-5.90%
Max Drawdown (5Y) Largest decline over 5 years	-63.89%	-38.69%	-25.20%
Max Drawdown (10Y) Largest decline over 10 years	—	-56.76%	—
Current Drawdown Current decline from peak	-35.25%	-32.19%	-3.06%
Average Drawdown Average peak-to-trough decline	-49.56%	-56.81%	+7.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.63%	4.85%	+0.78%

Volatility

BTX vs. DX - Volatility Comparison

BlackRock Technology and Private Equity Term Trust (BTX) has a higher volatility of 9.93% compared to Dynex Capital, Inc. (DX) at 4.52%. This indicates that BTX'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

	BTX	DX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	4.52%	+5.41%
Volatility (6M) Calculated over the trailing 6-month period	19.72%	13.59%	+6.13%
Volatility (1Y) Calculated over the trailing 1-year period	24.37%	17.50%	+6.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.75%	23.86%	+5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.55%	29.88%	-0.33%

Dividends

BTX vs. DX - Dividend Comparison

BTX's dividend yield for the trailing twelve months is around 8.42%, less than DX's 15.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTX BlackRock Technology and Private Equity Term Trust	8.42%	13.68%	11.21%	10.45%	14.54%	4.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DX Dynex Capital, Inc.	15.85%	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 BTX and DX in my portfolio?

BTX and DX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTX or DX?

BTX has higher volatility (9.93%) compared to DX (4.52%). In terms of maximum drawdown, BTX dropped -67.27% vs DX's -99.12%.

Which has better risk-adjusted returns?

BTX currently has the higher Sharpe Ratio (1.53 vs 1.40), 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.