Merge trees are a common topological descriptor for data with a hierarchical component, such as terrains and scalar fields. The interleaving distance, in turn, is a common distance for comparing merge trees. However, the interleaving distance for merge trees is solely based on the hierarchical structure, and disregards any other geometrical or topological properties that might be present in the underlying data. Furthermore, the interleaving distance is NP-hard to compute. In this paper, we introduce a form of ordered merge trees that can capture intrinsic order present in the data. We further define a natural variant of the interleaving distance, the monotone interleaving distance, which is an order-preserving distance for ordered merge trees. Analogously to the regular interleaving distance for merge trees, we show that the monotone variant has three equivalent definitions in terms of two maps, a single map, or a labelling. Furthermore, we establish a connection between the monotone interleaving distance of ordered merge trees and the Fréchet distance of 1D curves. As a result, the monotone interleaving distance between two ordered merge trees can be computed exactly in near-quadratic time in their complexity. The connection between the monotone interleaving distance and the Fréchet distance builds a new bridge between the fields of topological data analysis, where interleaving distances are a common tool, and computational geometry, where Fréchet distances are studied extensively.