ETF Report: REX Bitcoin Corporate Treasury Convertible Bond ETF (BMAX)

What this ETF is trying to do

BMAX is an Exchange Traded Fund (ETF) traded on the NASDAQ. While the specific investment strategy details are not provided in the data, ETFs like this one generally aim to provide exposure to specific types of bonds or assets through a single share.

What the numbers show

The current price of BMAX is approximately $23.97. When we look at how the share price has moved over time, we see different results depending on the timeframe:

• Year-to-Date (YTD): The YTD price return is approximately 4.03%. This measures only the change in the share price since the start of the year. The YTD total return is also 4.03%, which means that, according to the data, the overall return including distributions matches the price movement.

• One Year: The one-year price return is approximately -14.02%. This shows a share-price decline over the last twelve months.

To understand this decline, we can look at an estimated price from roughly one year ago, which was approximately $27.88. For example, if someone had invested $10,000 into this ETF one year ago, the value of those shares would have dropped to about $8,597 based on the share-price decline alone, before considering any distributions.

Income and distribution explanation

Some investors look for ETFs that pay out regular cash, known as distributions. For BMAX, the distribution yield is 0%. The data shows no distributions were detected over the last 12 months. Because there are no payouts, the total return and the price return are the same in this case.

NAV erosion explanation

"NAV" stands for Net Asset Value, which is the actual value of the assets held by the fund. "NAV erosion" is a term used when the value of those underlying assets decreases.

The StockValueFinder data shows an erosion-risk score of 75, which is labeled as "mild price erosion." This is an erosion-risk measurement, not proof that the NAV has definitely collapsed. It suggests there has been some price deterioration in the share price. However, BMAX does not have a severe erosion-risk flag.

Pros

• The ETF has shown a positive YTD price return of approximately 4.03%.

Cons

• The ETF experienced a significant share-price decline of approximately 14.02% over the last year.

• There have been no cash distributions detected in the last 12 months.

Beginner takeaway

When looking at ETFs, it is important to distinguish between price return (how much the share price moves) and total return (the overall return including any cash paid out). In this specific case, BMAX has not provided any distribution income. While the fund has seen some growth so far this year, the share price has declined over the past twelve months.