HQH vs. DX

Last updated Apr 2, 2026

Compare and contrast key facts about Tekla Healthcare Investors (HQH) and Dynex Capital, Inc. (DX).

Performance

HQH vs. DX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tekla Healthcare Investors (HQH) and Dynex Capital, Inc. (DX). The values are adjusted to include any dividend payments, if applicable.

HQH vs. DX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HQH Tekla Healthcare Investors	-0.42%	34.12%	10.22%	1.22%	-17.27%	7.99%	24.82%	26.80%	-13.08%	15.97%
DX Dynex Capital, Inc.	-4.34%	29.48%	13.64%	11.91%	-15.39%	2.25%	17.09%	11.12%	-8.46%	13.80%

Fundamentals

Total Revenue (TTM) HQH : $21.06M DX : $146.71M
Gross Profit (TTM) HQH : $21.06M DX : $404.00K
EBITDA (TTM) HQH : $0.00 DX : $150.39M

Returns By Period

In the year-to-date period, HQH achieves a -0.42% return, which is significantly higher than DX's -4.34% return. Over the past 10 years, HQH has underperformed DX with an annualized return of 6.86%, while DX has yielded a comparatively higher 7.51% annualized return.

HQH

• 1D: 2.75%
• 1M: -3.18%
• YTD: -0.42%
• 6M: 4.66%
• 1Y: 31.01%
• 3Y*: 14.10%
• 5Y*: 4.87%
• 10Y*: 6.86%

DX

• 1D: -0.08%
• 1M: -6.80%
• YTD: -4.34%
• 6M: 10.17%
• 1Y: 15.12%
• 3Y*: 17.08%
• 5Y*: 4.55%
• 10Y*: 7.51%

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

Return for Risk

HQH vs. DX — Risk / Return Rank

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

HQH

HQH Risk / Return Rank: 77
HQH Sharpe Ratio Rank: 81
HQH Sortino Ratio Rank: 74
HQH Omega Ratio Rank: 73
HQH Calmar Ratio Rank: 78
HQH Martin Ratio Rank: 83

DX

DX Risk / Return Rank: 62
DX Sharpe Ratio Rank: 67
DX Sortino Ratio Rank: 56
DX Omega Ratio Rank: 57
DX Calmar Ratio Rank: 62
DX Martin Ratio Rank: 67

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.

HQH vs. DX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tekla Healthcare Investors (HQH) 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.

	HQH	DX	Difference
Sharpe ratio Return per unit of total volatility	1.34	0.75	+0.58
Sortino ratio Return per unit of downside risk	1.83	1.08	+0.75
Omega ratio Gain probability vs. loss probability	1.24	1.15	+0.09
Calmar ratio Return relative to maximum drawdown	2.14	0.97	+1.17
Martin ratio Return relative to average drawdown	7.04	3.13	+3.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HQH vs. DX - Sharpe Ratio Comparison

The current HQH Sharpe Ratio is 1.34, which is higher than the DX Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of HQH and DX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HQH	DX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	0.75	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.19	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	0.25	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.17	+0.20

Correlation

The correlation between HQH and DX is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HQH vs. DX - Dividend Comparison

HQH's dividend yield for the trailing twelve months is around 12.31%, less than DX's 16.00% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HQH Tekla Healthcare Investors	12.31%	11.56%	14.21%	9.66%	9.50%	8.59%	7.97%	8.24%	10.75%	8.78%	9.80%	11.97%
DX Dynex Capital, Inc.	16.00%	14.13%	11.46%	12.46%	12.26%	9.34%	9.33%	11.87%	12.59%	10.27%	12.32%	15.12%

Drawdowns

HQH vs. DX - Drawdown Comparison

The maximum HQH drawdown since its inception was -62.36%, smaller than the maximum DX drawdown of -99.12%. Use the drawdown chart below to compare losses from any high point for HQH and DX.

Drawdown Indicators

	HQH	DX	Difference
Max Drawdown Largest peak-to-trough decline	-62.36%	-99.12%	+36.76%
Max Drawdown (1Y) Largest decline over 1 year	-13.01%	-15.27%	+2.26%
Max Drawdown (5Y) Largest decline over 5 years	-37.55%	-38.69%	+1.14%
Max Drawdown (10Y) Largest decline over 10 years	-37.55%	-56.76%	+19.21%
Current Drawdown Current decline from peak	-7.82%	-34.53%	+26.71%
Average Drawdown Average peak-to-trough decline	-21.13%	-56.93%	+35.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.96%	4.74%	-0.78%

Volatility

HQH vs. DX - Volatility Comparison

Tekla Healthcare Investors (HQH) has a higher volatility of 8.58% compared to Dynex Capital, Inc. (DX) at 8.05%. This indicates that HQH'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

	HQH	DX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.58%	8.05%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	16.02%	13.03%	+2.99%
Volatility (1Y) Calculated over the trailing 1-year period	23.44%	20.18%	+3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.47%	23.81%	-4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.65%	29.86%	-8.21%

Financials