CMTG vs. DX

Last updated Jun 20, 2026

CMTG (Claros Mortgage Trust, 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, CMTG returned -35.17%/yr vs 17.21%/yr for DX. At a 0.41 correlation, their price movements are largely independent.

Performance

CMTG vs. DX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Claros Mortgage Trust, Inc. (CMTG) 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, CMTG achieves a -10.78% return, which is significantly lower than DX's 0.54% return.

CMTG

• 1D: 5.00%
• 1M: 21.33%
• YTD: -10.78%
• 6M: -17.52%
• 1Y: -14.95%
• 3Y*: -35.17%
• 5Y*: —
• 10Y*: —

DX

• 1D: 0.08%
• 1M: 2.83%
• YTD: 0.54%
• 6M: 1.85%
• 1Y: 25.07%
• 3Y*: 17.21%
• 5Y*: 5.09%
• 10Y*: 7.57%

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

CMTG vs. DX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CMTG Claros Mortgage Trust, Inc.	-10.78%	-32.30%	-64.39%	2.82%	-1.38%	3.95%
DX Dynex Capital, Inc.	0.54%	29.48%	13.64%	11.91%	-15.39%	-3.33%

Correlation

The correlation between CMTG and DX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Nov 3, 2021	0.41

Fundamentals

EPS CMTG : -$4.41 DX : $1.59
PS Ratio CMTG : 0.92 DX : 2.85
Total Revenue (TTM) CMTG : $311.27M DX : $695.85M
Gross Profit (TTM) CMTG : -$65.16M DX : $695.85M
EBITDA (TTM) CMTG : $51.76M DX : $900.29M

Return for Risk

CMTG vs. DX — Risk / Return Rank

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

CMTG

CMTG Risk / Return Rank: 33
CMTG Sharpe Ratio Rank: 33
CMTG Sortino Ratio Rank: 33
CMTG Omega Ratio Rank: 33
CMTG Calmar Ratio Rank: 32
CMTG Martin Ratio Rank: 32

DX

DX Risk / Return Rank: 76
DX Sharpe Ratio Rank: 81
DX Sortino Ratio Rank: 77
DX Omega Ratio Rank: 75
DX Calmar Ratio Rank: 72
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.

CMTG vs. DX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Claros Mortgage Trust, Inc. (CMTG) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CMTG	DX	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	1.43	-1.67
Sortino ratio: Return per unit of downside risk	0.08	2.02	-1.94
Omega ratio: Gain probability vs. loss probability	1.01	1.25	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.32	1.65	-1.97
Martin ratio: Return relative to average drawdown	-0.56	4.98	-5.55

CMTG vs. DX - Sharpe Ratio Comparison

The current CMTG Sharpe Ratio is -0.24, which is lower than the DX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of CMTG 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.

Drawdowns

CMTG vs. DX - Drawdown Comparison

The maximum CMTG drawdown since its inception was -87.12%, smaller than the maximum DX drawdown of -99.12%. Use the drawdown chart below to compare losses from any high point for CMTG and DX.

Drawdown Indicators

	CMTG	DX	Difference
Max Drawdown Largest peak-to-trough decline	-87.12%	-99.12%	+12.00%
Max Drawdown (1Y) Largest decline over 1 year	-47.34%	-15.27%	-32.07%
Max Drawdown (3Y) Largest decline over 3 years	-84.37%	-25.81%	-58.56%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-56.76%	—
Current Drawdown Current decline from peak	-83.09%	-31.19%	-51.90%
Average Drawdown Average peak-to-trough decline	-46.43%	-56.78%	+10.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.64%	5.04%	+21.60%

Volatility

CMTG vs. DX - Volatility Comparison

Claros Mortgage Trust, Inc. (CMTG) has a higher volatility of 19.14% compared to Dynex Capital, Inc. (DX) at 5.16%. This indicates that CMTG'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

	CMTG	DX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.14%	5.16%	+13.98%
Volatility (6M) Calculated over the trailing 6-month period	44.78%	13.78%	+31.00%
Volatility (1Y) Calculated over the trailing 1-year period	63.30%	17.67%	+45.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.57%	23.85%	+28.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.57%	29.88%	+22.69%

Dividends

CMTG vs. DX - Dividend Comparison

CMTG has not paid dividends to shareholders, while DX's dividend yield for the trailing twelve months is around 15.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMTG Claros Mortgage Trust, Inc.	0.00%	0.00%	13.27%	9.10%	10.06%	2.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DX Dynex Capital, Inc.	15.62%	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 CMTG and DX in my portfolio?

CMTG and DX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMTG or DX?

CMTG has higher volatility (19.14%) compared to DX (5.16%). In terms of maximum drawdown, CMTG dropped -87.12% vs DX's -99.12%.

Which has better risk-adjusted returns?

DX currently has the higher Sharpe Ratio (1.43 vs -0.24), 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.