OMAH vs. FAAR

Last updated Jun 24, 2026

OMAH (VistaShares Target 15™ Berkshire Select Income ETF) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - OMAH is a Derivative Income fund actively managed by VistaShares, while FAAR is a Commodities fund actively managed by First Trust. Both are actively managed. Over the past year, OMAH returned 11.47% vs 28.33% for FAAR. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

OMAH vs. FAAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VistaShares Target 15™ Berkshire Select Income ETF (OMAH) and First Trust Alternative Absolute Return Strategy ETF (FAAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OMAH achieves a 5.30% return, which is significantly lower than FAAR's 19.14% return.

OMAH

• 1D: 0.27%
• 1M: -1.97%
• YTD: 5.30%
• 6M: 5.12%
• 1Y: 11.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FAAR

• 1D: -0.91%
• 1M: -5.21%
• YTD: 19.14%
• 6M: 18.06%
• 1Y: 28.33%
• 3Y*: 10.57%
• 5Y*: 7.72%
• 10Y*: 4.69%

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

OMAH vs. FAAR - Yearly Performance Comparison

	2026 (YTD)	2025
OMAH VistaShares Target 15™ Berkshire Select Income ETF	5.30%	6.55%
FAAR First Trust Alternative Absolute Return Strategy ETF	19.14%	6.10%

Correlation

The correlation between OMAH and FAAR is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Mar 5, 2025	0.02

Return for Risk

OMAH vs. FAAR — Risk / Return Rank

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

OMAH

OMAH Risk / Return Rank: 51
OMAH Sharpe Ratio Rank: 43
OMAH Sortino Ratio Rank: 41
OMAH Omega Ratio Rank: 40
OMAH Calmar Ratio Rank: 78
OMAH Martin Ratio Rank: 54

FAAR

FAAR Risk / Return Rank: 75
FAAR Sharpe Ratio Rank: 71
FAAR Sortino Ratio Rank: 74
FAAR Omega Ratio Rank: 65
FAAR Calmar Ratio Rank: 86
FAAR Martin Ratio Rank: 81

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.

OMAH vs. FAAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VistaShares Target 15™ Berkshire Select Income ETF (OMAH) and First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.

	OMAH	FAAR	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.15	-0.72
Sortino ratio: Return per unit of downside risk	2.01	3.09	-1.08
Omega ratio: Gain probability vs. loss probability	1.25	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	3.84	4.52	-0.69
Martin ratio: Return relative to average drawdown	9.13	15.18	-6.05

OMAH vs. FAAR - Sharpe Ratio Comparison

The current OMAH Sharpe Ratio is 1.44, which is lower than the FAAR Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of OMAH and FAAR, 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

OMAH vs. FAAR - Drawdown Comparison

The maximum OMAH drawdown since its inception was -11.83%, smaller than the maximum FAAR drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for OMAH and FAAR.

Drawdown Indicators

	OMAH	FAAR	Difference
Max Drawdown Largest peak-to-trough decline	-11.83%	-18.03%	+6.20%
Max Drawdown (1Y) Largest decline over 1 year	-3.00%	-6.29%	+3.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.03%	—
Current Drawdown Current decline from peak	-1.97%	-6.29%	+4.32%
Average Drawdown Average peak-to-trough decline	-1.27%	-7.82%	+6.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	1.87%	-0.61%

Volatility

OMAH vs. FAAR - Volatility Comparison

The current volatility for VistaShares Target 15™ Berkshire Select Income ETF (OMAH) is 2.21%, while First Trust Alternative Absolute Return Strategy ETF (FAAR) has a volatility of 2.55%. This indicates that OMAH experiences smaller price fluctuations and is considered to be less risky than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OMAH	FAAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	2.55%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	5.58%	9.68%	-4.10%
Volatility (1Y) Calculated over the trailing 1-year period	8.04%	13.38%	-5.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.03%	12.96%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.03%	11.54%	+1.49%

OMAH vs. FAAR - Expense Ratio Comparison

Both OMAH and FAAR have an expense ratio of 0.95%.

Dividends

OMAH vs. FAAR - Dividend Comparison

OMAH's dividend yield for the trailing twelve months is around 14.05%, more than FAAR's 9.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAAR First Trust Alternative Absolute Return Strategy ETF	9.66%	11.63%	3.45%	3.20%	5.82%	6.49%	3.05%	1.02%	0.58%	2.83%
OMAH VistaShares Target 15™ Berkshire Select Income ETF	14.05%	12.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OMAH and FAAR in my portfolio?

OMAH and FAAR have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OMAH or FAAR?

FAAR has higher volatility (2.55%) compared to OMAH (2.21%). In terms of maximum drawdown, OMAH dropped -11.83% vs FAAR's -18.03%.

Which ETF is better, OMAH or FAAR?

On 1-year performance, FAAR leads with 28.33% vs 11.47% for OMAH. Both ETFs have the same 0.95% expense ratio. On volatility, OMAH has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OMAH or FAAR?

Over the 1-year period, FAAR has performed better with a 28.33% return vs 11.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OMAH or FAAR?

OMAH and FAAR have the same expense ratio: 0.95% per year.

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

OMAH has the higher dividend yield at 14.05%, compared with 9.66% for FAAR.

What is the main difference between OMAH and FAAR?

OMAH is categorized as Derivative Income, while FAAR is Commodities. They also come from different issuers: VistaShares and First Trust.

Which has better risk-adjusted returns?

FAAR currently has the higher Sharpe Ratio (2.15 vs 1.44), 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.