SOYB vs. MRGR
SOYB (Teucrium Soybean Fund) and MRGR (Proshares Merger ETF) are both exchange-traded funds - SOYB is a Agricultural Commodities fund tracking the Teucrium Soybean Fund Benchmark, while MRGR is a Hedge Fund fund tracking the S&P Merger Arbitrage Index. Both are passively managed. Over the past 10 years, SOYB returned 2.46%/yr vs 3.57%/yr for MRGR. At a 0.05 correlation, their price movements are largely independent. SOYB charges 1.88%/yr vs 0.75%/yr for MRGR.
Performance
SOYB vs. MRGR - Performance Comparison
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Returns By Period
In the year-to-date period, SOYB achieves a 15.87% return, which is significantly higher than MRGR's 2.67% return. Over the past 10 years, SOYB has underperformed MRGR with an annualized return of 2.46%, while MRGR has yielded a comparatively higher 3.57% annualized return.
SOYB
- 1D
- 0.64%
- 1M
- 4.97%
- 6M
- 15.29%
- YTD
- 15.87%
- 1Y
- 18.03%
- 3Y*
- -3.57%
- 5Y*
- 1.40%
- 10Y*
- 2.46%
MRGR
- 1D
- -0.13%
- 1M
- 0.45%
- 6M
- 1.87%
- YTD
- 2.67%
- 1Y
- 11.25%
- 3Y*
- 8.81%
- 5Y*
- 4.41%
- 10Y*
- 3.57%
SOYB vs. MRGR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOYB Teucrium Soybean Fund | 15.87% | 1.77% | -20.48% | -5.23% | 25.27% | 16.85% | 22.99% | -2.16% | -9.51% | -6.38% |
MRGR Proshares Merger ETF | 2.67% | 11.99% | 5.32% | 4.94% | -4.81% | 6.58% | 1.99% | 4.31% | 3.42% | 2.08% |
Correlation
The correlation between SOYB and MRGR is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2012 | 0.05 |
The correlation between SOYB and MRGR shifts across timeframes, from -0.13 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SOYB vs. MRGR — Risk / Return Rank
SOYB
MRGR
SOYB vs. MRGR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Soybean Fund (SOYB) 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.
| SOYB | MRGR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.53 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.06 | 8.73 | -6.67 |
| Martin ratioReturn relative to average drawdown | 5.39 | 23.87 | -18.48 |
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Drawdowns
SOYB vs. MRGR - Drawdown Comparison
The maximum SOYB drawdown since its inception was -53.76%, which is greater than MRGR's maximum drawdown of -13.23%. Use the drawdown chart below to compare losses from any high point for SOYB and MRGR.
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Drawdown Indicators
| SOYB | MRGR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.76% | -13.23% | -40.53% |
Max Drawdown (1Y)Largest decline over 1 year | -8.78% | -1.29% | -7.49% |
Max Drawdown (3Y)Largest decline over 3 years | -31.01% | -2.10% | -28.91% |
Max Drawdown (5Y)Largest decline over 5 years | -31.01% | -8.40% | -22.61% |
Max Drawdown (10Y)Largest decline over 10 years | -33.93% | -13.23% | -20.70% |
Current DrawdownCurrent decline from peak | -13.58% | -0.13% | -13.45% |
Average DrawdownAverage peak-to-trough decline | -25.69% | -3.83% | -21.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 0.47% | +2.89% |
Volatility
SOYB vs. MRGR - Volatility Comparison
Teucrium Soybean Fund (SOYB) has a higher volatility of 4.43% compared to Proshares Merger ETF (MRGR) at 0.91%. This indicates that SOYB'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.
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Volatility by Period
| SOYB | MRGR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 0.91% | +3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 9.48% | 2.90% | +6.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.95% | 4.24% | +8.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 3.81% | +13.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.76% | 5.16% | +11.60% |
SOYB vs. MRGR - Expense Ratio Comparison
SOYB has a 1.88% expense ratio, which is higher than MRGR's 0.75% expense ratio.
Dividends
SOYB vs. MRGR - Dividend Comparison
SOYB has not paid dividends to shareholders, while MRGR's dividend yield for the trailing twelve months is around 2.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MRGR Proshares Merger ETF | 2.96% | 3.12% | 3.21% | 2.11% | 0.61% | 0.59% | 0.00% | 0.78% | 1.39% | 0.36% | 0.74% | 0.34% |
SOYB Teucrium Soybean Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SOYB and MRGR have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOYB has higher volatility (4.43%) compared to MRGR (0.91%). In terms of maximum drawdown, SOYB dropped -53.76% vs MRGR's -13.23%.
On 10-year performance, MRGR leads with 3.57% vs 2.46% for SOYB. On fees, MRGR is cheaper at 0.75% per year. On volatility, MRGR has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MRGR has performed better with a 3.57% return vs 2.46%. 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 1.88% for SOYB.
MRGR has the higher dividend yield at 2.96%, compared with 0.00% for SOYB.
SOYB is categorized as Agricultural Commodities, while MRGR is Hedge Fund. SOYB tracks Teucrium Soybean Fund Benchmark, while MRGR tracks S&P Merger Arbitrage Index. They also come from different issuers: Teucrium and ProShares. Their fees differ too: 1.88% for SOYB and 0.75% for MRGR.
MRGR currently has the higher Sharpe Ratio (2.67 vs 1.40), 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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