Is merino wool really moisture wicking?

All sources I've read about and viewed say that merino wool is sweat wicking. Great. I get a few swatches from a supplier and choose a few for further testing.

I make a sweatband for a hat and then want to test the whole sweatband's moisture wicking and start the vertical wicking test only to see that the bead of water just sits on top of the fabric!

Very confused, I then try to perform a horizontal test and the same result, with all samples and from another supplier as well!

Am I missing something completely here? Will make a pure merino-based sweatband be a horrible idea?

Please note this is for a running hat.