MRGR vs. ROMO

Last updated Jun 4, 2026

MRGR (Proshares Merger ETF) and ROMO (Strategy Shares Newfound/ReSolve Robust Momentum ETF) are both exchange-traded funds - MRGR is a Hedge Fund fund tracking the S&P Merger Arbitrage Index, while ROMO is a Momentum fund tracking the Newfound/ReSolve Robust Equity Momentum Index. Both are passively managed. Over the past 5 years, MRGR returned 3.99%/yr vs 6.78%/yr for ROMO. At a 0.28 correlation, their price movements are largely independent. MRGR charges 0.75%/yr vs 0.82%/yr for ROMO.

Performance

MRGR vs. ROMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Merger ETF (MRGR) and Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MRGR achieves a 1.83% return, which is significantly lower than ROMO's 6.33% return.

MRGR

• 1D: -0.33%
• 1M: 0.80%
• YTD: 1.83%
• 6M: 1.48%
• 1Y: 11.14%
• 3Y*: 8.65%
• 5Y*: 3.99%
• 10Y*: 3.47%

ROMO

• 1D: -0.69%
• 1M: 3.99%
• YTD: 6.33%
• 6M: 7.08%
• 1Y: 17.53%
• 3Y*: 14.45%
• 5Y*: 6.78%
• 10Y*: —

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

MRGR vs. ROMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MRGR Proshares Merger ETF	1.83%	11.99%	5.32%	4.94%	-4.81%	6.58%	1.99%	1.23%
ROMO Strategy Shares Newfound/ReSolve Robust Momentum ETF	6.33%	9.29%	20.68%	11.05%	-18.88%	21.41%	-3.48%	4.41%

Correlation

The correlation between MRGR and ROMO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Nov 5, 2019	0.28

MRGR vs. ROMO - Sectors Allocation Comparison

Sectors	MRGR	ROMO
Healthcare	22.7%	9.6%
Industrials	17.6%	19.4%
Financial Services	12.7%	22.0%
Real Estate	12.6%	3.0%
Basic Materials	5.8%	6.2%
Energy	5.6%	3.9%
Utilities	5.4%	3.6%
Technology	5.1%	12.5%
Communication Services	4.9%	5.0%
Consumer Cyclical	4.9%	8.4%
Consumer Defensive	2.7%	6.3%

Return for Risk

MRGR vs. ROMO — Risk / Return Rank

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

MRGR

MRGR Risk / Return Rank: 90
MRGR Sharpe Ratio Rank: 82
MRGR Sortino Ratio Rank: 93
MRGR Omega Ratio Rank: 88
MRGR Calmar Ratio Rank: 95
MRGR Martin Ratio Rank: 92

ROMO

ROMO Risk / Return Rank: 35
ROMO Sharpe Ratio Rank: 36
ROMO Sortino Ratio Rank: 36
ROMO Omega Ratio Rank: 36
ROMO Calmar Ratio Rank: 32
ROMO Martin Ratio Rank: 37

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.

MRGR vs. ROMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Merger ETF (MRGR) and Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO). 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.

	MRGR	ROMO	Difference
Sharpe ratio Return per unit of total volatility	2.72	1.30	+1.42
Sortino ratio Return per unit of downside risk	4.63	1.86	+2.78
Omega ratio Gain probability vs. loss probability	1.56	1.24	+0.31
Calmar ratio Return relative to maximum drawdown	8.65	1.58	+7.07
Martin ratio Return relative to average drawdown	23.71	5.70	+18.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MRGR vs. ROMO - Sharpe Ratio Comparison

The current MRGR Sharpe Ratio is 2.72, which is higher than the ROMO Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of MRGR and ROMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MRGR	ROMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	1.30	+1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	0.57	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.48	-0.12

Drawdowns

MRGR vs. ROMO - Drawdown Comparison

The maximum MRGR drawdown since its inception was -13.23%, smaller than the maximum ROMO drawdown of -28.66%. Use the drawdown chart below to compare losses from any high point for MRGR and ROMO.

Drawdown Indicators

	MRGR	ROMO	Difference
Max Drawdown Largest peak-to-trough decline	-13.23%	-28.66%	+15.43%
Max Drawdown (1Y) Largest decline over 1 year	-1.29%	-11.16%	+9.87%
Max Drawdown (3Y) Largest decline over 3 years	-2.10%	-14.09%	+11.99%
Max Drawdown (5Y) Largest decline over 5 years	-8.40%	-20.26%	+11.86%
Max Drawdown (10Y) Largest decline over 10 years	-13.23%	—	—
Current Drawdown Current decline from peak	-0.33%	-1.62%	+1.29%
Average Drawdown Average peak-to-trough decline	-3.86%	-8.31%	+4.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	3.08%	-2.61%

Volatility

MRGR vs. ROMO - Volatility Comparison

The current volatility for Proshares Merger ETF (MRGR) is 1.08%, while Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) has a volatility of 4.12%. This indicates that MRGR experiences smaller price fluctuations and is considered to be less risky than ROMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRGR	ROMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	4.12%	-3.04%
Volatility (6M) Calculated over the trailing 6-month period	2.95%	11.11%	-8.16%
Volatility (1Y) Calculated over the trailing 1-year period	4.11%	13.58%	-9.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.82%	12.03%	-8.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.15%	14.45%	-9.30%

MRGR vs. ROMO - Expense Ratio Comparison

MRGR has a 0.75% expense ratio, which is lower than ROMO's 0.82% expense ratio.

Dividends

MRGR vs. ROMO - Dividend Comparison

MRGR's dividend yield for the trailing twelve months is around 2.97%, less than ROMO's 8.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MRGR Proshares Merger ETF	2.97%	3.12%	3.21%	2.11%	0.61%	0.59%	0.00%	0.78%	1.39%	0.36%	0.74%	0.34%
ROMO Strategy Shares Newfound/ReSolve Robust Momentum ETF	8.34%	8.87%	0.76%	2.42%	0.77%	0.56%	0.97%	0.58%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MRGR and ROMO in my portfolio?

MRGR and ROMO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MRGR or ROMO?

ROMO has higher volatility (4.12%) compared to MRGR (1.08%). In terms of maximum drawdown, MRGR dropped -13.23% vs ROMO's -28.66%.

Which ETF is better, MRGR or ROMO?

On 5-year performance, ROMO leads with 6.78% vs 3.99% for MRGR. On fees, MRGR is cheaper at 0.75% per year. On volatility, MRGR has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRGR or ROMO?

Over the 5-year period, ROMO has performed better with a 6.78% return vs 3.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRGR or ROMO?

MRGR is cheaper with a 0.75% expense ratio, compared with 0.82% for ROMO.

Which ETF pays a higher dividend yield, MRGR or ROMO?

ROMO has the higher dividend yield at 8.34%, compared with 2.97% for MRGR.

What is the main difference between MRGR and ROMO?

MRGR is categorized as Hedge Fund, while ROMO is Momentum. MRGR tracks S&P Merger Arbitrage Index, while ROMO tracks Newfound/ReSolve Robust Equity Momentum Index. They also come from different issuers: ProShares and Rational Capital LLC. Their fees differ too: 0.75% for MRGR and 0.82% for ROMO.

Which has better risk-adjusted returns?

MRGR currently has the higher Sharpe Ratio (2.72 vs 1.30), 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.