ROMO vs. MTUL
ROMO (Strategy Shares Newfound/ReSolve Robust Momentum ETF) and MTUL (ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN) are both Momentum funds - ROMO tracks the Newfound/ReSolve Robust Equity Momentum Index while MTUL tracks the MSCI USA Momentum Index. Both are passively managed. Over the past 5 years, ROMO returned 6.78%/yr vs 19.95%/yr for MTUL. A 0.73 correlation means they provide meaningful diversification when combined. ROMO charges 0.82%/yr vs 0.95%/yr for MTUL.
Performance
ROMO vs. MTUL - Performance Comparison
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Returns By Period
In the year-to-date period, ROMO achieves a 6.33% return, which is significantly lower than MTUL's 60.22% return.
ROMO
- 1D
- -0.69%
- 1M
- 3.99%
- YTD
- 6.33%
- 6M
- 7.08%
- 1Y
- 17.53%
- 3Y*
- 14.45%
- 5Y*
- 6.78%
- 10Y*
- —
MTUL
- 1D
- -0.74%
- 1M
- 27.97%
- YTD
- 60.22%
- 6M
- 59.66%
- 1Y
- 75.85%
- 3Y*
- 59.49%
- 5Y*
- 19.95%
- 10Y*
- —
ROMO vs. MTUL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ROMO Strategy Shares Newfound/ReSolve Robust Momentum ETF | 6.33% | 9.29% | 20.68% | 11.05% | -18.88% | 16.42% |
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 60.22% | 27.42% | 58.70% | 10.66% | -37.97% | 7.00% |
Correlation
The correlation between ROMO and MTUL is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021 | 0.73 |
The correlation between ROMO and MTUL shifts across timeframes, from 0.65 (1 year) to 0.78 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
ROMO vs. MTUL — Risk / Return Rank
ROMO
MTUL
ROMO vs. MTUL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) and ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL). 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 | MTUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.32 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 3.20 | -1.62 |
| Martin ratioReturn relative to average drawdown | 5.70 | 12.78 | -7.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ROMO | MTUL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.73 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.47 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.41 | +0.07 |
Drawdowns
ROMO vs. MTUL - Drawdown Comparison
The maximum ROMO drawdown since its inception was -28.66%, smaller than the maximum MTUL drawdown of -56.83%. Use the drawdown chart below to compare losses from any high point for ROMO and MTUL.
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Drawdown Indicators
| ROMO | MTUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.66% | -56.83% | +28.17% |
Max Drawdown (1Y)Largest decline over 1 year | -11.16% | -23.86% | +12.70% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -39.15% | +25.06% |
Max Drawdown (5Y)Largest decline over 5 years | -20.26% | -56.83% | +36.57% |
Current DrawdownCurrent decline from peak | -1.62% | -0.74% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -22.68% | +14.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 5.96% | -2.88% |
Volatility
ROMO vs. MTUL - Volatility Comparison
The current volatility for Strategy Shares Newfound/ReSolve Robust Momentum ETF (ROMO) is 4.12%, while ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) has a volatility of 20.29%. This indicates that ROMO experiences smaller price fluctuations and is considered to be less risky than MTUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ROMO | MTUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.12% | 20.29% | -16.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.11% | 37.63% | -26.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 43.98% | -30.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.03% | 42.81% | -30.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.45% | 43.65% | -29.20% |
ROMO vs. MTUL - Expense Ratio Comparison
ROMO has a 0.82% expense ratio, which is lower than MTUL's 0.95% expense ratio.
Dividends
ROMO vs. MTUL - Dividend Comparison
ROMO's dividend yield for the trailing twelve months is around 8.34%, while MTUL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ROMO Strategy Shares Newfound/ReSolve Robust Momentum ETF | 8.34% | 8.87% | 0.76% | 2.42% | 0.77% | 0.56% | 0.97% | 0.58% |
Frequently Asked Questions
ROMO and MTUL have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUL has higher volatility (20.29%) compared to ROMO (4.12%). In terms of maximum drawdown, ROMO dropped -28.66% vs MTUL's -56.83%.
On 5-year performance, MTUL leads with 19.95% vs 6.78% for ROMO. On fees, ROMO is cheaper at 0.82% per year. On volatility, ROMO has been the lower-risk option at 4.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MTUL has performed better with a 19.95% return vs 6.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ROMO is cheaper with a 0.82% expense ratio, compared with 0.95% for MTUL.
ROMO has the higher dividend yield at 8.34%, compared with 0.00% for MTUL.
ROMO tracks Newfound/ReSolve Robust Equity Momentum Index, while MTUL tracks MSCI USA Momentum Index. They also come from different issuers: Rational Capital LLC and UBS. Their fees differ too: 0.82% for ROMO and 0.95% for MTUL.
MTUL currently has the higher Sharpe Ratio (1.73 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.
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