VistaShares just crossed the $1 billion mark in assets under management, which is a pretty big deal for a firm that launched its first ETF just over a year ago. The growth tells a story of two very different strategies pulling in money: one is all about chasing the AI boom with eye-popping returns, and the other is about locking down a steady, high yield. CEO Adam Patti says it's a mix of strong demand for income-focused ETFs and what he calls "differentiated AI exposure."
The numbers break down like this. The flagship income product, the VistaShares Target 15 Berkshire Select Income ETF (OMAH), makes up about 63% of the total AUM—that's around $700 million. It's clearly where the big money is flowing. Meanwhile, the growth-oriented VistaShares Artificial Intelligence Supercycle ETF (AIS) accounts for roughly 22% of assets, or about $250 million. But don't let the smaller asset base fool you; Patti says it's emerging as the firm's "primary alpha engine."
"Our AUM is concentrated, which is typical for a young issuer building franchise products," Patti told MarketDash in an interview, noting that OMAH and AIS together make up about 85% of total assets.
AI ETF Outperformance Stands Out
Here's where it gets interesting. AIS delivered around a 60% return in 2025. That's not just good; it's dramatically better than both its Morningstar category average (about 25%) and the Nasdaq-100 (about 21%). The gains came from exposure to AI infrastructure names like SK Hynix, Micron Technology Inc (MU), Vertiv Holdings Co (VRT), and Taiwan Semiconductor Manufacturing Co Ltd (TSM)—areas that Patti says are often underrepresented in traditional benchmarks.
"That outperformance is a direct result of our 'Bill of Materials' process, which maps the entire AI infrastructure supply chain rather than just chasing mega-cap names," Patti said.
And the strategy seems to be holding up. Year-to-date, AIS is up around 36%, while its electrification counterpart, the VistaShares Electrification Supercycle ETF, has gained roughly 40%. That suggests continued investor interest in industrial and infrastructure-linked themes, even in volatile markets.
Income Strategy Driving Flows
While the AI fund is delivering the returns, it's the income strategy that's really pulling in the assets. Patti revealed that OMAH has hit its 15% target yield, with an annualized distribution of about 15.5%, paid consistently at 1.25% per month since it launched. The kicker? That yield comes primarily from an actively managed covered-call overlay, not from dividends.
"The options premium is the engine—it's what allows us to target 15% on a blue-chip equity portfolio," he said.
That structure has also provided some downside cushion. Since launch, OMAH has returned roughly +6%, compared to a -3.6% decline in Berkshire Hathaway Class B (BRK.B) over the same period, Patti noted. That kind of performance in choppy markets is probably why investors are so keen on it.
Active Edge Vs Passive ETFs
VistaShares is pitching itself as an alternative to passive thematic ETFs, which Patti argues often dilute their exposure. "We're seeing meaningful flows from investors disappointed by passive thematic ETFs that drift from their stated theme," he said, pointing to the rapid asset growth as evidence of demand.
With expense ratios of 0.75% for the thematic ETFs and 0.95% for the income strategies, the firm is betting that targeted exposure and options-driven income can justify higher fees. And based on the early performance, that bet might be starting to pay off.
