ROMO vs. MRGR
ROMO (Strategy Shares Newfound/ReSolve Robust Momentum ETF) and MRGR (Proshares Merger ETF) are both exchange-traded funds - ROMO is a Momentum fund tracking the Newfound/ReSolve Robust Equity Momentum Index, while MRGR is a Hedge Fund fund tracking the S&P Merger Arbitrage Index. Both are passively managed. Over the past 5 years, ROMO returned 6.41%/yr vs 4.15%/yr for MRGR. At a 0.28 correlation, their price movements are largely independent. ROMO charges 0.82%/yr vs 0.75%/yr for MRGR.
Performance
ROMO vs. MRGR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ROMO achieves a 4.60% return, which is significantly higher than MRGR's 2.38% return.
ROMO
- 1D
- -1.49%
- 1M
- -0.86%
- YTD
- 4.60%
- 6M
- 4.12%
- 1Y
- 15.98%
- 3Y*
- 13.83%
- 5Y*
- 6.41%
- 10Y*
- —
MRGR
- 1D
- 0.28%
- 1M
- 0.51%
- YTD
- 2.38%
- 6M
- 2.11%
- 1Y
- 11.18%
- 3Y*
- 8.71%
- 5Y*
- 4.15%
- 10Y*
- 3.59%
ROMO vs. MRGR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ROMO Strategy Shares Newfound/ReSolve Robust Momentum ETF | 4.60% | 9.29% | 20.68% | 11.05% | -18.88% | 21.41% | -3.48% | 4.25% |
MRGR Proshares Merger ETF | 2.38% | 11.99% | 5.32% | 4.94% | -4.81% | 6.58% | 1.99% | 1.15% |
Correlation
The correlation between ROMO and MRGR is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2019 | 0.28 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ROMO vs. MRGR — Risk / Return Rank
ROMO
MRGR
ROMO vs. MRGR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) and Proshares Merger ETF (MRGR). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ROMO | MRGR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.53 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 8.67 | -7.24 |
| Martin ratioReturn relative to average drawdown | 5.11 | 23.70 | -18.59 |
Loading charts...
Drawdowns
ROMO vs. MRGR - Drawdown Comparison
The maximum ROMO drawdown since its inception was -28.66%, which is greater than MRGR's maximum drawdown of -13.23%. Use the drawdown chart below to compare losses from any high point for ROMO and MRGR.
Loading charts...
Drawdown Indicators
| ROMO | MRGR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.66% | -13.23% | -15.43% |
Max Drawdown (1Y)Largest decline over 1 year | -11.16% | -1.29% | -9.87% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -2.10% | -11.99% |
Max Drawdown (5Y)Largest decline over 5 years | -20.26% | -8.40% | -11.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.23% | — |
Current DrawdownCurrent decline from peak | -3.22% | -0.05% | -3.17% |
Average DrawdownAverage peak-to-trough decline | -8.26% | -3.85% | -4.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 0.47% | +2.67% |
Volatility
ROMO vs. MRGR - Volatility Comparison
Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) has a higher volatility of 4.60% compared to Proshares Merger ETF (MRGR) at 1.27%. This indicates that ROMO's price experiences larger fluctuations and is considered to be riskier than MRGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ROMO | MRGR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 1.27% | +3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 11.79% | 2.93% | +8.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.10% | 4.23% | +9.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.16% | 3.84% | +8.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.49% | 5.16% | +9.33% |
ROMO vs. MRGR - Expense Ratio Comparison
ROMO has a 0.82% expense ratio, which is higher than MRGR's 0.75% expense ratio.
Dividends
ROMO vs. MRGR - Dividend Comparison
ROMO's dividend yield for the trailing twelve months is around 8.48%, more than MRGR's 2.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MRGR Proshares Merger ETF | 2.95% | 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 | 8.48% | 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
ROMO and MRGR have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ROMO has higher volatility (4.60%) compared to MRGR (1.27%). In terms of maximum drawdown, ROMO dropped -28.66% vs MRGR's -13.23%.
On 5-year performance, ROMO leads with 6.41% vs 4.15% for MRGR. On fees, MRGR is cheaper at 0.75% per year. On volatility, MRGR has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ROMO has performed better with a 6.41% return vs 4.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MRGR is cheaper with a 0.75% expense ratio, compared with 0.82% for ROMO.
ROMO has the higher dividend yield at 8.48%, compared with 2.95% for MRGR.
ROMO is categorized as Momentum, while MRGR is Hedge Fund. ROMO tracks Newfound/ReSolve Robust Equity Momentum Index, while MRGR tracks S&P Merger Arbitrage Index. They also come from different issuers: Rational Capital LLC and ProShares. Their fees differ too: 0.82% for ROMO and 0.75% for MRGR.
MRGR currently has the higher Sharpe Ratio (2.65 vs 1.14), 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.
Find the right allocation for ROMO and MRGR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer