At a glance
OMAH charges 0.98% a year. It has $990.0M in assets; it paid 15.38% of its price in distributions over the past 12 months, monthly. Over the past year it returned +9.3% with distributions reinvested (S&P 500: +11.5%). Its ten largest positions make up 56.5% of the fund, out of 21 in all.
The short version
VistaShares Target 15 Berkshire Select Income ETF (OMAH) is an actively managed fund. It holds 20 to 50 U.S. stocks based on the Solactive VistaShares Berkshire Select Index, which is built from Berkshire Hathaway's publicly disclosed holdings, and it sells options on those stocks. It aims for 15% annual income, paid monthly. Its trailing 12-month yield was 15.38% as of October 27, 2026. The trade-offs are a 0.98% expense ratio and limited upside.
Price history
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OMAH +9.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| OMAH price data to Oct 27, 2026 | +8.9% | +9.3% | — | — | — | +11.4% |
- Over the year to Oct 27, 2026, OMAH returned +9.3%.
- The deepest fall in its price history was 5.8% (Aug 4, 2026 to Sep 30, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +8.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.3000 |
What's inside
As of Jul 31, 2026, the fund held 21 securities; the ten largest made up 56.49% of assets.
| Holding | Weight | |
|---|---|---|
| Berkshire Hathaway Inc | 10.11% | |
| Apple Inc | 6.81% | |
| American Express Co | 5.66% | |
| Delta Air Lines Inc | 5.25% | |
| DaVita Inc | 5.19% | |
| Bank of America Corp | 4.83% | |
| Sirius XM Holdings Inc | 4.70% | |
| Chubb Ltd | 4.69% | |
| Coca-Cola Co | 4.67% | |
| Kraft Heinz Co | 4.59% | |
| Moody's Corp | 4.59% | |
| Chevron Corp | 4.49% | |
| Capital One Financial Corp | 4.49% | |
| VeriSign Inc | 4.25% | |
| Occidental Petroleum Corp | 4.19% |
By country
United States 95.06%Switzerland 4.69%By asset type
Stocks 99.75%By sector
Sectors of the companies held, for the 66.2% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors added a net $233.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.25%, +0.24%, +3.27%.
How it works
OMAH is an actively managed ETF whose main goal is income, with long-term growth second. Its stocks are based on the Solactive VistaShares Berkshire Select Index, which is built from Berkshire Hathaway's publicly reported holdings. Sub-adviser VistaShares, LLC picks 20 to 50 large and mid-sized U.S.-listed companies with high return on equity (profit relative to shareholders' money), low debt and steady earnings, and adjusts the mix quarterly. Berkshire's disclosures lag, so the fund may not match Berkshire's latest portfolio. As of July 31, 2026, Berkshire Hathaway was the largest holding at about 10.1%.
Most income comes from options. The fund's adviser sells (writes) options on some or all of its stocks and keeps the premium the buyer pays. In a covered call, the fund sells the right to buy a stock it owns at a set price, collecting cash now but giving up gains above that price. The adviser mixes strategies based on its market view, aiming for an annual income target of 15%. That is a goal, not a promise, and premiums shrink when markets are calm.
Up to 10% of assets sits in cash or short-term U.S. Treasuries, which back the options and earn interest. Payouts arrive monthly but can vary widely or skip a month. Each one typically lowers the fund's per-share value by the same amount.
What it really costs
- OMAH charges 0.98% a year.
- Of that, 0.95% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $100 in the first year and $1,201 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| OMAH | $100 | $312 | $542 | $1,201 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
In a retirement portfolio
The fund's main goal is a 15% annual income target, paid monthly from option premiums, with growth a secondary goal.
OMAH could add a large monthly income stream. Its trailing 12-month yield was 15.38%, or $2.77 per share, as of October 27, 2026. Over the past year it moved much less than the stock market, with a beta of 0.25. But it launched on March 5, 2025, so it has no record in the 2008, 2020 or 2022 downturns, and it has no full calendar year of results. Its deepest drop was 5.8%, from August 4 to September 30, 2026, and it had not recovered as of October 27, 2026. That gives little evidence of what selling shares in a bad year might cost. Payouts are not guaranteed and can wear down the NAV over time. Costs are high: $100 on $10,000 in the first year under the SEC example. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Income seekers who want monthly payouts and accept that the 15% annual target isn't guaranteed and that amounts may vary greatly.
- Investors drawn to Berkshire Hathaway-linked stocks such as Apple, American Express and Coca-Cola, with Berkshire's B shares at 10.1% of assets.
- Holders using tax-advantaged accounts, since option income is usually taxed as ordinary income rather than at lower qualified-dividend rates.
Look elsewhere if
- Cost-conscious investors: the 0.98% expense ratio adds up to $1,201 over 10 years on $10,000 in the SEC's standard example.
- Investors who want full stock-market gains, because selling call options caps the fund's upside when its holdings rally strongly.
- Anyone who wants a long track record: launched in March 2025, it has no bear-market history and no full calendar year of returns.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
Does OMAH pay monthly dividends?
Yes, OMAH plans to pay distributions every month. Over the 12 months to October 27, 2026, it paid $2.77 per share, a trailing yield of 15.38%. The prospectus warns that a payment isn't assured in any given month and that amounts will likely vary greatly. Most of the income comes from option premiums. That income is usually taxed as ordinary income, not at the lower qualified-dividend rate.
Is OMAH's 15% yield sustainable?
There's no guarantee. The 15% is a target, not a promise. Option premiums depend on market swings, so calmer markets usually mean smaller premiums. The prospectus says the target doesn't depend on how the stocks perform. If payouts exceed what the fund earns, its net asset value falls, because each payout lowers the share value by the amount paid. Over time, that can mean losses. Total return, which counts price changes plus payouts, is a fuller measure than yield alone.
Does OMAH own Berkshire Hathaway stock?
Yes. Berkshire Hathaway B shares were OMAH's largest holding at 10.1% as of July 31, 2026. Its other stocks come from an index built from Berkshire's publicly reported holdings and screened for quality, including Apple, American Express, Delta Air Lines, DaVita and Bank of America. Public data lags, so the fund can differ from Berkshire's actual portfolio. The prospectus also lists Warren Buffett stepping down as CEO on January 1, 2026, with Greg Abel succeeding him, as a risk.
What is OMAH's expense ratio?
OMAH's expense ratio is 0.98%, according to its prospectus filed June 25, 2026. That includes a 0.95% management fee. In the SEC's standard example ($10,000 invested, 5% yearly return), total costs would be about $100 after one year, $312 after three, $542 after five and $1,201 after ten. That is much higher than many plain stock index funds charge, partly because the fund is actively managed and runs an options strategy.
Is OMAH good for retirement income?
It may suit some retirees who want high monthly income, but there are clear caveats. It launched in March 2025, so it has no record in a major bear market. Its deepest drop was 5.8%, from August 4 to September 30, 2026, and it had not recovered as of October 27, 2026. It returned 9.3% over the year to that date. Payouts can vary, may wear down the share value, and are usually taxed as ordinary income.