ROMO vs. ARB
Compare and contrast key facts about Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) and AltShares Merger Arbitrage ETF (ARB).
ROMO and ARB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ROMO is a passively managed fund by Rational Capital LLC that tracks the performance of the Newfound/ReSolve Robust Equity Momentum Index. It was launched on Nov 1, 2019. ARB is a passively managed fund by Water Island Capital Partners LP that tracks the performance of the Water Island Merger Arbitrage USD Hedged Index. It was launched on May 7, 2020. Both ROMO and ARB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
ROMO vs. ARB - Performance Comparison
Loading graphics...
ROMO vs. ARB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ROMO Strategy Shares Newfound/ReSolve Robust Momentum ETF | -0.85% | 9.29% | 20.68% | 11.05% | -18.88% | 21.41% | 16.95% |
ARB AltShares Merger Arbitrage ETF | 0.86% | 6.05% | 4.07% | 3.85% | 2.67% | 3.16% | 3.78% |
Returns By Period
In the year-to-date period, ROMO achieves a -0.85% return, which is significantly lower than ARB's 0.86% return.
ROMO
- 1D
- 2.82%
- 1M
- -8.01%
- YTD
- -0.85%
- 6M
- 1.90%
- 1Y
- 12.49%
- 3Y*
- 12.01%
- 5Y*
- 6.20%
- 10Y*
- —
ARB
- 1D
- 0.34%
- 1M
- 0.65%
- YTD
- 0.86%
- 6M
- 1.58%
- 1Y
- 4.27%
- 3Y*
- 5.50%
- 5Y*
- 4.12%
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
ROMO vs. ARB - Expense Ratio Comparison
ROMO has a 0.82% expense ratio, which is lower than ARB's 0.87% expense ratio.
Return for Risk
ROMO vs. ARB — Risk / Return Rank
ROMO
ARB
ROMO vs. ARB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) and AltShares Merger Arbitrage ETF (ARB). 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.
| ROMO | ARB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 1.54 | -0.65 |
Sortino ratioReturn per unit of downside risk | 1.27 | 2.23 | -0.96 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.30 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.10 | 3.50 | -2.40 |
Martin ratioReturn relative to average drawdown | 4.49 | 17.20 | -12.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| ROMO | ARB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 1.54 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.95 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.94 | -0.53 |
Correlation
The correlation between ROMO and ARB is 0.30, 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
ROMO vs. ARB - Dividend Comparison
ROMO's dividend yield for the trailing twelve months is around 8.95%, more than ARB's 0.43% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ROMO Strategy Shares Newfound/ReSolve Robust Momentum ETF | 8.95% | 8.87% | 0.76% | 2.42% | 0.77% | 0.56% | 0.97% | 0.58% |
ARB AltShares Merger Arbitrage ETF | 0.43% | 0.43% | 1.12% | 0.00% | 4.18% | 0.00% | 2.87% | 0.00% |
Drawdowns
ROMO vs. ARB - Drawdown Comparison
The maximum ROMO drawdown since its inception was -28.66%, which is greater than ARB's maximum drawdown of -5.60%. Use the drawdown chart below to compare losses from any high point for ROMO and ARB.
Loading graphics...
Drawdown Indicators
| ROMO | ARB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.66% | -5.60% | -23.06% |
Max Drawdown (1Y)Largest decline over 1 year | -11.16% | -1.20% | -9.96% |
Max Drawdown (5Y)Largest decline over 5 years | -20.26% | -5.60% | -14.66% |
Current DrawdownCurrent decline from peak | -8.26% | 0.00% | -8.26% |
Average DrawdownAverage peak-to-trough decline | -8.43% | -0.96% | -7.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 0.26% | +2.47% |
Volatility
ROMO vs. ARB - Volatility Comparison
Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) has a higher volatility of 7.34% compared to AltShares Merger Arbitrage ETF (ARB) at 0.96%. This indicates that ROMO's price experiences larger fluctuations and is considered to be riskier than ARB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| ROMO | ARB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.34% | 0.96% | +6.38% |
Volatility (6M)Calculated over the trailing 6-month period | 10.61% | 2.01% | +8.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.16% | 2.79% | +11.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.90% | 4.37% | +7.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.43% | 4.41% | +10.02% |