CVRD vs. OMAH

Last updated Jul 15, 2026

CVRD (Madison Covered Call ETF) and OMAH (VistaShares Target 15™ Berkshire Select Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CVRD returned 3.05% vs 12.59% for OMAH. A 0.73 correlation means they provide meaningful diversification when combined. CVRD charges 0.90%/yr vs 0.95%/yr for OMAH.

Performance

CVRD vs. OMAH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Covered Call ETF (CVRD) and VistaShares Target 15™ Berkshire Select Income ETF (OMAH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVRD achieves a 0.89% return, which is significantly lower than OMAH's 8.87% return.

CVRD

• 1D: -0.61%
• 1M: -1.09%
• 6M: -0.48%
• YTD: 0.89%
• 1Y: 3.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OMAH

• 1D: -0.32%
• 1M: 2.34%
• 6M: 9.28%
• YTD: 8.87%
• 1Y: 12.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CVRD vs. OMAH - Yearly Performance Comparison

	2026 (YTD)	2025
CVRD Madison Covered Call ETF	0.89%	9.55%
OMAH VistaShares Target 15™ Berkshire Select Income ETF	8.87%	6.55%

Correlation

The correlation between CVRD and OMAH is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (All Time) Calculated using the full available price history since Mar 5, 2025	0.73

The correlation between CVRD and OMAH has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.

CVRD vs. OMAH - Sectors Allocation Comparison

Sectors	CVRD	OMAH
Technology	26.7%	11.6%
Healthcare	12.4%	4.4%
Financial Services	12.2%	37.3%
Consumer Defensive	10.1%	13.2%
Consumer Cyclical	9.0%	4.1%
Industrials	8.5%	4.9%
Communication Services	7.9%	19.8%
Energy	5.9%	8.8%
Real Estate	3.0%	-
Utilities	2.4%	-
Basic Materials	2.2%	-

Return for Risk

CVRD vs. OMAH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CVRD

CVRD Risk / Return Rank: 15
CVRD Sharpe Ratio Rank: 15
CVRD Sortino Ratio Rank: 13
CVRD Omega Ratio Rank: 13
CVRD Calmar Ratio Rank: 17
CVRD Martin Ratio Rank: 18

OMAH

OMAH Risk / Return Rank: 65
OMAH Sharpe Ratio Rank: 57
OMAH Sortino Ratio Rank: 57
OMAH Omega Ratio Rank: 54
OMAH Calmar Ratio Rank: 89
OMAH Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CVRD vs. OMAH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Covered Call ETF (CVRD) and VistaShares Target 15™ Berkshire Select Income ETF (OMAH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CVRD	OMAH	Difference
Sharpe ratio: Return per unit of total volatility	0.32	1.54	-1.23
Sortino ratio: Return per unit of downside risk	0.50	2.17	-1.67
Omega ratio: Gain probability vs. loss probability	1.06	1.27	-0.21
Calmar ratio: Return relative to maximum drawdown	0.54	4.21	-3.67
Martin ratio: Return relative to average drawdown	1.41	9.93	-8.53

CVRD vs. OMAH - Sharpe Ratio Comparison

The current CVRD Sharpe Ratio is 0.32, which is lower than the OMAH Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of CVRD and OMAH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CVRD vs. OMAH - Drawdown Comparison

The maximum CVRD drawdown since its inception was -17.95%, which is greater than OMAH's maximum drawdown of -11.83%. Use the drawdown chart below to compare losses from any high point for CVRD and OMAH.

Drawdown Indicators

	CVRD	OMAH	Difference
Max Drawdown Largest peak-to-trough decline	-17.95%	-11.83%	-6.12%
Max Drawdown (1Y) Largest decline over 1 year	-5.72%	-3.00%	-2.72%
Current Drawdown Current decline from peak	-3.34%	-0.32%	-3.02%
Average Drawdown Average peak-to-trough decline	-2.06%	-1.25%	-0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	1.27%	+0.91%

Volatility

CVRD vs. OMAH - Volatility Comparison

Madison Covered Call ETF (CVRD) and VistaShares Target 15™ Berkshire Select Income ETF (OMAH) have volatilities of 2.91% and 2.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVRD	OMAH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	2.79%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	7.13%	5.74%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	9.71%	8.21%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.73%	12.90%	-1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.73%	12.90%	-1.17%

CVRD vs. OMAH - Expense Ratio Comparison

CVRD has a 0.90% expense ratio, which is lower than OMAH's 0.95% expense ratio.

Dividends

CVRD vs. OMAH - Dividend Comparison

CVRD's dividend yield for the trailing twelve months is around 7.82%, less than OMAH's 14.98% yield.

Position	TTM	2025	2024	2023
CVRD Madison Covered Call ETF	7.82%	7.63%	15.70%	1.50%
OMAH VistaShares Target 15™ Berkshire Select Income ETF	14.98%	12.86%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CVRD and OMAH in my portfolio?

CVRD and OMAH have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVRD or OMAH?

CVRD has higher volatility (2.91%) compared to OMAH (2.79%). In terms of maximum drawdown, CVRD dropped -17.95% vs OMAH's -11.83%.

Which ETF is better, CVRD or OMAH?

On 1-year performance, OMAH leads with 12.59% vs 3.05% for CVRD. On fees, CVRD is cheaper at 0.90% per year. On volatility, OMAH has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVRD or OMAH?

Over the 1-year period, OMAH has performed better with a 12.59% return vs 3.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVRD or OMAH?

CVRD is cheaper with a 0.90% expense ratio, compared with 0.95% for OMAH.

Which ETF pays a higher dividend yield, CVRD or OMAH?

OMAH has the higher dividend yield at 14.98%, compared with 7.82% for CVRD.

What is the main difference between CVRD and OMAH?

They also come from different issuers: Madison and VistaShares. Their fees differ too: 0.90% for CVRD and 0.95% for OMAH.

Which has better risk-adjusted returns?

OMAH currently has the higher Sharpe Ratio (1.54 vs 0.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.