About Us

We Manage a Highly Liquid Portfolio of Mortgage-Backed Securities and Provide Investors with Consistent Dividends

Dynex Capital delivers value at the intersection of capital markets and housing finance, using our expertise to transform residential real estate into compelling long-term yields for our shareholders. We are committed to ethical stewardship of stakeholders' capital, expert risk management, disciplined capital allocation, and social responsibility. We generate dividend income and long-term total returns through the financing of real estate assets, and by doing so, support the growth and vitality of housing communities in the United States. Dynex Capital operates as a real estate investment trust (REIT) and is internally managed to maximize stakeholder alignment.

Producing Top-Tier Investment Returns

Our owner-operated structure and high-performance culture have resulted in reliable returns that have consistently outperformed the S&P 500 Financials and the REM (iShares Mortgage RE ETF) since 2008.

Cumulative Total Shareholder Returns

Monthly Total Returns Dynex (DX) iShares Mortgage RE ETF (REM)
12-month total return (%) 18.1% 5.8%
3-year total return (%) 13.7% 6.9%
5-year total return (%) 52% 31.5%

Source: Bloomberg. Assumes dividends are reinvested in the respective security as of June 30, 2025.

A Portfolio Built for Flexibility

Our highly liquid portfolio of mortgage-backed securities allows us to take advantage of current opportunities in the housing market while preserving the flexibility to shift to other investment opportunities as they arise. The majority of our portfolio is invested in agency Residential Mortgage-Backed Securities (RMBS) which offer generationally attractive returns, with the highest credit quality and most liquid assets.

Portfolio Fair Value $14.2 Billion*

* Includes Agency RMBS TBA dollar roll positions at their implied market value which are accounted for as “derivative assets (liabilities)” on our consolidated balance sheet.

As of June 30, 2025

Our Dynamic Strategy Adjusts with Market Conditions

Our three strategic approaches – investment, financing, and hedging – have been proven successful due to our scenario analysis, preparation, and flexibility. We navigate uncertainty by remaining vigilant of the evolving economic and regulatory forces over various periods of time.

Learn More About Our Strategy

Over 40 Years of Leadership Experience

Each of our executives carry decades of finance and market experience that informs strategy.

Meet Our Executive Team Meet Our Board of Directors