DRAY vs. OMAH

Last updated Jun 25, 2026

DRAY (YieldMax DKNG Option Income Strategy ETF) and OMAH (VistaShares Target 15™ Berkshire Select Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.20 correlation, their price movements are largely independent. DRAY charges 0.99%/yr vs 0.95%/yr for OMAH.

Performance

DRAY vs. OMAH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax DKNG Option Income Strategy ETF (DRAY) 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, DRAY achieves a -30.74% return, which is significantly lower than OMAH's 5.24% return.

DRAY

• 1D: -1.87%
• 1M: -2.57%
• YTD: -30.74%
• 6M: -30.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OMAH

• 1D: -0.38%
• 1M: -1.54%
• YTD: 5.24%
• 6M: 4.79%
• 1Y: 11.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRAY vs. OMAH - Yearly Performance Comparison

	2026 (YTD)	2025
DRAY YieldMax DKNG Option Income Strategy ETF	-30.74%	-19.48%
OMAH VistaShares Target 15™ Berkshire Select Income ETF	5.24%	3.42%

Correlation

The correlation between DRAY and OMAH is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.20

Return for Risk

DRAY vs. OMAH — Risk / Return Rank

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

DRAY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

OMAH

OMAH Risk / Return Rank: 54
OMAH Sharpe Ratio Rank: 46
OMAH Sortino Ratio Rank: 44
OMAH Omega Ratio Rank: 43
OMAH Calmar Ratio Rank: 82
OMAH Martin Ratio Rank: 58

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.

DRAY vs. OMAH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax DKNG Option Income Strategy ETF (DRAY) 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.

	DRAY	OMAH	Difference
Sharpe ratio: Return per unit of total volatility	—	1.41	—
Sortino ratio: Return per unit of downside risk	—	1.98	—
Omega ratio: Gain probability vs. loss probability	—	1.25	—
Calmar ratio: Return relative to maximum drawdown	—	3.78	—
Martin ratio: Return relative to average drawdown	—	8.91	—

Drawdowns

DRAY vs. OMAH - Drawdown Comparison

The maximum DRAY drawdown since its inception was -57.87%, which is greater than OMAH's maximum drawdown of -11.83%. Use the drawdown chart below to compare losses from any high point for DRAY and OMAH.

Drawdown Indicators

	DRAY	OMAH	Difference
Max Drawdown Largest peak-to-trough decline	-57.87%	-11.83%	-46.04%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.00%	—
Current Drawdown Current decline from peak	-49.73%	-2.02%	-47.71%
Average Drawdown Average peak-to-trough decline	-32.06%	-1.27%	-30.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.27%	—

Volatility

Volatility by Period

	DRAY	OMAH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	41.82%	8.03%	+33.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.82%	12.99%	+28.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.82%	12.99%	+28.83%

DRAY vs. OMAH - Expense Ratio Comparison

DRAY has a 0.99% expense ratio, which is higher than OMAH's 0.95% expense ratio.

Dividends

DRAY vs. OMAH - Dividend Comparison

DRAY's dividend yield for the trailing twelve months is around 98.00%, more than OMAH's 14.06% yield.

Position	TTM	2025
DRAY YieldMax DKNG Option Income Strategy ETF	98.00%	32.48%
OMAH VistaShares Target 15™ Berkshire Select Income ETF	14.06%	12.86%

Frequently Asked Questions

Can I hold both DRAY and OMAH in my portfolio?

DRAY and OMAH have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DRAY or OMAH?

On fees, OMAH is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DRAY or OMAH?

OMAH is cheaper with a 0.95% expense ratio, compared with 0.99% for DRAY.

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

DRAY has the higher dividend yield at 98.00%, compared with 14.06% for OMAH.

What is the main difference between DRAY and OMAH?

They also come from different issuers: YieldMax and VistaShares. Their fees differ too: 0.99% for DRAY and 0.95% for OMAH.