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OMAH
VistaShares Target 15 Berkshire Select Income ETF
Tidal Investments LLC (Adviser); VistaShares Advisors LLC (Sub-Adviser)
Verdict
WATCH
Weighted score · 3.25 / 5
Fund Identity
What it is, who runs it, where it lives.
The VistaShares Target 15 Berkshire Select Income ETF primarily seeks income, and secondarily, long term capital appreciation..
The Fund is an actively managed ETF with two components: (1) an equity strategy investing in a focused portfolio of ~21 securities based on the Solactive VistaShares Berkshire Select Index, which reflects publicly-disclosed holdings of Berkshire Hathaway including ~10% in BRK.B; and (2) an options strategy where the Adviser writes options (including covered calls) on the underlying equity securities to generate premium income. The Fund targets an annual income of 15% (the 'Annual 15% Target') primarily through options premiums, while also maintaining a minor allocation (up to 10%) in cash or short-term U.S. Treasuries as collateral.
Ticker
OMAH
Issuer
Tidal Investments LLC (Adviser); VistaShares Advisors LLC (Sub-Adviser)
Exchange
ARCX
Inception
2025-03-05 · 1.3 yrs
Mgmt style
Active
Replication
Physical (full replication) of equity portfolio combined with Derivatives (options/futures) on underlying equity securities for income generation
Index-based
— · Solactive VistaShares Berkshire Select Index
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Covered Calls and other options strategies (writing/selling options on underlying equity securities to collect premiums)
generates income
Underlying
Individual stocks (equity securities held in the Fund's portfolio based on Berkshire Hathaway's publicly-disclosed holdings)
income exposure
MONTHLY
15.3%
DIST. RATE
92% ROC
Ordinary Income
Ordinary Income
Underlying
Individual stocks (equity securities held in the Fund's portfolio based on Berkshire Hathaway's publicly-disclosed holdings)
Strategy
Covered Calls and other options strategies (writing/selling options on underlying equity securities to collect premiums)
Tax
Ordinary Income
The Adviser writes (sells) options contracts on certain or all of the Fund's underlying equity securities to generate premium income targeting an annual yield of 15%. Strategies may include covered calls and other combinations selected based on market outlook and volatility conditions. Rolling of options positions is expected as contracts expire or are exercised.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · JUN '25 – JUN '26
JUN '25JUN '26
Flat-NAV reinvestment hurdle
36.7%
Share of each distribution you’d need to reinvest just to hold NAV flat. Higher means more of the yield is your own capital coming back.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
92%
ROC
Return of Capital — mixed92%
Net Investment Income8%
Frequency
Monthly
Dist. rate
15.29%
ROC %
92%
30-day SEC
not reported
Consistency
14 w/o cut
YOC · 1yr-ago buyer
14.9%
Tax Treatment — Ordinary Income
ORDINARY INCOME
Distribution Composition (Recent)
ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.
Composition · Narrative
The April 28, 2026 distribution of $0.23225 per share for the VistaShares Target 15 Berkshire Select Income ETF (OMAH) is composed of 92.24% Return of Capital ($0.21422) and 7.76% Net Investment Income ($0.01803). No capital gains are included in this distribution. These are estimates and may be subject to change based on the fund's full fiscal year experience.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 8 months.
DIST ($/sh)ROC %
Return of capital ($/sh)
Net investment income ($/sh)
Monthly ROC %
Calendar-year ROC (YTD est.)
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
Latest Distribution Schedule
Record date
2026-05-26
Ex-dividend
2026-05-26
Pay date
—
Payback Period
6.5 yr
Dist. Since Incep.
$3.6
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
104
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$18.9$18.2$17.5$16.9
DEC '25JUN '26
Price $18.58
50-DMA $18.43
200-DMA $17.72
Bullish — 50-DMA above 200-DMA
Price $18.58 is above the 200-day SMA ($17.72); 50-day SMA $18.43. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.
Liquidity
Avg daily volume
817K
Avg dollar volume
$14,782,198
Bid/ask spread
0.05%
Premium/discount
+0.05%
Turnover
—
Estimated bid/ask spread ~0.20% (moderate). Average daily dollar volume ~$14.8M (liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Falling. Source: shares×price (Massive, monthly).
AUM ($)
$698M
$805M$405M$6M
MAR '25JUN '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
OMAH · 2026-06-21
Prepared by denvereyon
Research aid, not investment advice.
Prepared by denvereyon
Research aid, not investment advice.
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