Dynex Capital, Inc. (DX) is a mortgage real estate investment trust, or mREIT. The company invests in mortgage-backed securities, or MBS, securities whose income is based on the performance of pools of mortgages. Those securities include both residential mortgage backed securities, or RMBS, backed by residential mortgages, as well as commercial mortgage backed securities, or CMBS, backed by commercial mortgages. As of the end of June 2020, 97% of Dynex's MBS investments were protected from principal loss by Fannie Mae (FDDXD) and Freddie Mac (FMCC).
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