DX vs. BXMT
DX (Dynex Capital, Inc.) and BXMT (Blackstone Mortgage Trust, Inc.) are both stocks. Both operate in the REIT - Mortgage industry within the Real Estate sector. Over the past 10 years, DX returned 7.57%/yr vs 5.02%/yr for BXMT. At a 0.20 correlation, their price movements are largely independent.
Performance
DX vs. BXMT - Performance Comparison
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Returns By Period
In the year-to-date period, DX achieves a 0.54% return, which is significantly higher than BXMT's -3.07% return. Over the past 10 years, DX has outperformed BXMT with an annualized return of 7.57%, while BXMT has yielded a comparatively lower 5.02% annualized return.
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%
BXMT
- 1D
- 1.46%
- 1M
- 0.72%
- YTD
- -3.07%
- 6M
- -5.60%
- 1Y
- 3.30%
- 3Y*
- 7.73%
- 5Y*
- -0.89%
- 10Y*
- 5.02%
DX vs. BXMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DX Dynex Capital, Inc. | 0.54% | 29.48% | 13.64% | 11.91% | -15.39% | 2.25% | 17.09% | 11.12% | -8.46% | 13.80% |
BXMT Blackstone Mortgage Trust, Inc. | -3.07% | 21.13% | -7.90% | 13.46% | -24.03% | 20.27% | -17.83% | 25.16% | 6.95% | 15.77% |
Correlation
The correlation between DX and BXMT is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1989 | 0.20 |
Over the past year, DX and BXMT have become more correlated (0.53) than their long-term average of 0.20, meaning their price movements have been converging.
Fundamentals
DX:
$2.61B
BXMT:
$3.06B
DX:
$1.59
BXMT:
$0.61
DX:
8.20
BXMT:
29.84
DX:
2.85
BXMT:
2.01
DX:
1.00
BXMT:
0.90
DX:
$695.85M
BXMT:
$1.54B
DX:
$695.85M
BXMT:
$960.53M
DX:
$900.29M
BXMT:
$957.49M
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Return for Risk
DX vs. BXMT — Risk / Return Rank
DX
BXMT
DX vs. BXMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dynex Capital, Inc. (DX) and Blackstone Mortgage Trust, Inc. (BXMT). 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.
| DX | BXMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.04 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 0.28 | +1.37 |
| Martin ratioReturn relative to average drawdown | 4.98 | 0.60 | +4.38 |
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Drawdowns
DX vs. BXMT - Drawdown Comparison
The maximum DX drawdown since its inception was -99.12%, roughly equal to the maximum BXMT drawdown of -97.98%. Use the drawdown chart below to compare losses from any high point for DX and BXMT.
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Drawdown Indicators
| DX | BXMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.12% | -97.98% | -1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -15.27% | -12.02% | -3.25% |
Max Drawdown (3Y)Largest decline over 3 years | -25.81% | -23.29% | -2.52% |
Max Drawdown (5Y)Largest decline over 5 years | -35.98% | -43.02% | +7.04% |
Max Drawdown (10Y)Largest decline over 10 years | -56.76% | -67.86% | +11.10% |
Current DrawdownCurrent decline from peak | -31.19% | -34.94% | +3.75% |
Average DrawdownAverage peak-to-trough decline | -56.78% | -49.05% | -7.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.04% | 5.48% | -0.44% |
Volatility
DX vs. BXMT - Volatility Comparison
The current volatility for Dynex Capital, Inc. (DX) is 5.16%, while Blackstone Mortgage Trust, Inc. (BXMT) has a volatility of 7.13%. This indicates that DX experiences smaller price fluctuations and is considered to be less risky than BXMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DX | BXMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.16% | 7.13% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 13.78% | 16.79% | -3.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.67% | 21.91% | -4.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.85% | 27.75% | -3.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.88% | 32.64% | -2.76% |
Dividends
DX vs. BXMT - Dividend Comparison
DX's dividend yield for the trailing twelve months is around 15.62%, more than BXMT's 10.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BXMT Blackstone Mortgage Trust, Inc. | 10.39% | 9.83% | 12.52% | 11.66% | 11.71% | 8.10% | 9.01% | 6.66% | 7.78% | 7.71% | 8.25% | 8.52% |
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
DX vs. BXMT - Financials Comparison
This section allows you to compare key financial metrics between Dynex Capital, Inc. and Blackstone Mortgage Trust, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
DX vs. BXMT - Profitability Comparison
DX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Dynex Capital, Inc. reported a gross profit of 257.39M and revenue of 257.39M. Therefore, the gross margin over that period was 100.0%.
BXMT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Blackstone Mortgage Trust, Inc. reported a gross profit of 77.44M and revenue of 380.15M. Therefore, the gross margin over that period was 20.4%.
DX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Dynex Capital, Inc. reported an operating income of 236.91M and revenue of 257.39M, resulting in an operating margin of 92.0%.
BXMT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Blackstone Mortgage Trust, Inc. reported an operating income of 48.65M and revenue of 380.15M, resulting in an operating margin of 12.8%.
DX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Dynex Capital, Inc. reported a net income of -80.36M and revenue of 257.39M, resulting in a net margin of -31.2%.
BXMT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Blackstone Mortgage Trust, Inc. reported a net income of -6.30M and revenue of 380.15M, resulting in a net margin of -1.7%.
Frequently Asked Questions
DX and BXMT have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BXMT has higher volatility (7.13%) compared to DX (5.16%). In terms of maximum drawdown, DX dropped -99.12% vs BXMT's -97.98%.
DX currently has the higher Sharpe Ratio (1.43 vs 0.15), 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.
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