Which is cheaper, OMAH or PCOV?

OMAH charges 0.98% a year and PCOV charges 0.34%, so PCOV is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

OMAH vs PCOV: Dividend Yield & Total Return

OMAH and PCOV both write options for income.

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Net assets: $1.1bn on Nov 3, 2026 for VistaShares Target 15 Berkshire Select Income ETF, and $10m on Nov 2, 2026 for Principal Equity Premium Income ETF.

OMAH on its own →PCOV on its own →

At a glance

14.7%

OMAH cash paid, 1 year

1.9%

PCOV cash paid, since launch, Aug 19, 2026

+13.5%

OMAH total return, 1 year

−0.1%

PCOV total return, since launch, Aug 19, 2026

OMAH · 1 year to Nov 4, 2026 1.3 pts behind SPY

OMAH

+13.5%

SPY

+14.8%

1.3 pts behind SPY

OMAH over 1 year: paid 14.7%, price −2.4%, total +13.5%, SPY +14.8%, −1.3 pts. Data to Nov 4, 2026.

SPY

+14.8%

OMAH

+13.5%

14.7% of it arrived as cash

1.3 pts behind SPY

Total return, distributions reinvested

1.3 pts behind SPY

OMAH over 1 year: paid 14.7%, price −2.4%, total +13.5%, SPY +14.8%, −1.3 pts. Data to Nov 4, 2026.

SPY

+14.8%

OMAH

+13.5%

14.7% as cash

1.3 pts behind SPY

14.7% of it arrived as cash. Total return, distributions reinvested. OMAH over 1 year: paid 14.7%, price −2.4%, total +13.5%, SPY +14.8%, −1.3 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

PCOV · since launch to Nov 4, 2026 Not measured

PCOV

−0.1%

none

Not measured

PCOV since launch: paid 1.9%, price −2.0%, total −0.1%, not measured against a benchmark. Data to Nov 4, 2026.

PCOV

−0.1%

Total return, distributions reinvested

Not measured

PCOV since launch: paid 1.9%, price −2.0%, total −0.1%, not measured against a benchmark. Data to Nov 4, 2026.

PCOV

−0.1%

1.9% of it arrived as cash. Both charts share one scale, with zero at the line. PCOV since launch: paid 1.9%, price −2.0%, total −0.1%, not measured against a benchmark. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PCOV costs 0.64 points a year less; OMAH is far larger, $1.1bn against $10m.

Points (pts) are percentage points.

OMAH vs PCOV: Dividend Yield & Total Return
Measure	OMAH	PCOV
Paid and earned
Measure	OMAH	PCOV
Total return, 1 year	+13.5%	not published
Price change	fell 2.4% (1 year)	fell 2.0% (since Aug 19, 2026)
Return of capital, issuer estimate	100% of the Oct 27, 2026 payment
Against its benchmark
Measure	OMAH	PCOV
Benchmark	S&P 500, measured through SPY	not published
Cost and size
Measure	OMAH	PCOV
Expense ratio	0.98%	0.34%
Net assets, as of Nov 3, 2026	$1.1bn	$10m
Holdings
Measure	OMAH	PCOV
Holdings in common	not published

Method

Side by side

OMAH VistaShares Target 15 Berkshire Select Income ETF · Covered call on SPY, paying monthly PCOV Principal Equity Premium Income ETF · Covered call

Issuer VistaShares Principal

Strategy covered call covered call

Benchmark S&P 500 (SPY) none

Pays monthly not established

Payout rate, annualized 15.0% 7.2%

Expense ratio 0.98% 0.34%

Cash paid, 1 year 14.7% 1.9% (since launch, Aug 19, 2026)

Price change, 1 year −2.4% −2.0% (since launch, Aug 19, 2026)

Total return, 1 year +13.5% −0.1% (since launch, Aug 19, 2026)

Benchmark return, 1 year +14.8% not published

Ahead or behind −1.3 pts not available

Return of capital, latest estimate 100% not published

Age 1.7 years 77 days

Net assets, OMAH as of Nov 3, 2026 and PCOV as of Nov 2, 2026 $1.1bn $10m

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: OMAH vs PCOV: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	OMAH	PCOV	OMAH	PCOV	OMAH	PCOV
3 months	+2.5%	–	3.7%	–	+2.6 pts	–
6 months	+6.2%	–	7.4%	–	+1.2 pts	–
1 year	+13.5%	–	14.7%	–	−1.3 pts	–
Since launchNot the same days: OMAH Mar 2025 · PCOV Aug 2026	+19.2%	−0.1%	23.7%	1.9%	−14.9 pts	not measured

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Alert

About each fund

OMAH

Over the year to Nov 4, 2026, OMAH paid 14.7% of its starting value in cash distributions while its price fell 2.4%. With every distribution reinvested, the fund returned +13.5%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 1.3 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 15.0%, paid monthly. VistaShares estimates that 100% of the distribution paid Oct 27, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

PCOV

Over the period from its first trade on Aug 19, 2026 to Nov 4, 2026, PCOV paid 1.9% of its starting value in cash distributions while its price fell 2.0%. With every distribution reinvested, the fund returned −0.1%. At its price on Nov 4, 2026 the latest distribution annualizes to 7.2%, paid periodically.

Questions people ask

Which is cheaper, OMAH or PCOV?: OMAH charges 0.98% a year and PCOV charges 0.34%, so PCOV is cheaper. Fees come from each fund's prospectus.

Other comparisons

OMAH vs PAPI OMAH vs XSHP OMAH vs DDDD OMAH vs YQQQ PCOV vs BALI PCOV vs DIVO PCOV vs ROCY PCOV vs FTHI

Where to next

S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →OMAH on its own →PCOV on its own →OMAH dividend history →OMAH holdings →PCOV dividend history →Method →Standards and sources →

Sources and dates

OMAH filings on SEC EDGAR ↗

OMAH prospectus with the expense ratio (SEC) ↗

OMAH 19a-1 distribution notice ↗

VistaShares page for OMAH ↗

PCOV filings on SEC EDGAR ↗

PCOV prospectus with the expense ratio (SEC) ↗

Principal website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, OMAH against PCOV, data as of Nov 4, 2026. https://etfiq.com/compare/income/omah-vs-pcov

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