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The VistaShares Target 15 Berkshire Select Income ETF (OMAH) is built on a portfolio of Berkshire stocks and offers a 15% yield. But the fund is a covered-call ETF, which means the yield comes with capped upside in the share price.
Many income investors are more exposed to the AI trade than they realize, often through holdings that look "safe." The usual objection that de-risking means giving up attractive dividends doesn't hold up. Two covered call ETFs that I discuss in this piece barely moved during last week's AI sell-off, and the reason is in how they are built.
The VistaShares Target 15™ Berkshire Select Income ETF is rated Buy for its unique high-yield, value-oriented income strategy rooted in Berkshire Hathaway's top holdings. OMAH targets a 15% annual distribution rate using covered call and options strategies on blue-chip, mostly non-dividend-paying stocks, delivering monthly income. Recent portfolio turnover and sector rotation reflect active management, with reduced technology exposure and increased focus on financials and communications.
VistaShares Target 15 Berkshire Select Income ETF (NYSEARCA:OMAH - Get Free Report) saw a significant decrease in short interest in September. As of September 30th, there was short interest totaling 19,902 shares, a decrease of 90.0% from the September 15th total of 198,789 shares. Based on an average trading volume of 1,506,974 shares, the short-interest
The VistaShares Target 15 Berkshire Select Income ETF (OMAH) remains a Hold, offering defensive qualities but lacking near-term upside catalysts. OMAH's aggressive ~100% option overwrite strategy supports a high ~15% payout but leads to gradual NAV erosion, especially as underlying holdings yield little. Recent portfolio shifts have reduced financials and staples exposure, increasing vulnerability to macro risks like rates and oil normalization.
Long-duration Treasuries finally offer an enticing yield, but several less obvious risks could undermine both the income and the hedge. Covered call ETFs share more with fixed income than most investors realize, and today's environment is paying them more for that role. The biggest, most popular covered call funds may fail exactly when defense is needed most.
Berkshire Hathaway is rated a buy, with recent underperformance attributed to cautious positioning and a large cash allocation now shifting under Greg Abel. Abel's portfolio pivots include $4.5B in Q2 buybacks at 140% of book value, $19.8B net equity purchases, and increased exposure to Alphabet and homebuilders. BRK.B's financials-heavy portfolio may benefit from sustained high-interest rates, while tech underweight could limit upside if technology momentum persists.
VistaShares Target 15 Berkshire Select Income ETF has outperformed Berkshire Hathaway since its March 2025 IPO, delivering its 15% annual yield target. OMAH's portfolio is 10% Berkshire Hathaway and 90% “equal”-weighted top US Berkshire holdings, minimizing exposure to cash and capital-intensive businesses. The fund's options strategy—short-dated, out-of-the-money call and put spreads—generates high income while limiting downside and minimizing forced roll risk.
SEC filings for OMAH aren't indexed yet (common for recently launched funds). Browse the issuer's filings on SEC EDGAR directly.