Merino wicks very well (I haven’t seen figures comparing it directly, but I seem to recall that density of weave and fineness of fibre made more difference than wool v synthetic). I was careful to swap like-for-like when going from capilene to merino.
Actually that’s a fundamental misunderstanding of the way merino works – it doesn’t wick particularly well in the sense of moving moisture outwards away from the skin, which is what most wicking synthetics do, unsually using the structure of the fabric to do it. What it does do really well is absorb moisture and hold it away from the skin so the fabric still feels comfortable even when it’s slightly damp. It’s also brilliant for not smelling with repeated use and for comfort against the skin.
If you’re really sweaty, you’re probably better off with a thin, high-wicking polyester baselayer fabric that will move moisture outwards fast and dry a lot more quickly.
Merino’s also less robust than synthetics and prone to be eaten by moths – generally when it’s unwashed though, if it’s clean they apparently don’t find it quite so more-ish…
Icebreaker or Smartwool for me fwiw.