Compare the specs. Look here -
http://www.channelmasterstore.com/v/...ct%20Sheet.pdf and here
http://www.antennacraft.net/pdfs/5884.pdf
Very similar in performance to the 5884 - 2 dB gain vs 2.5 for VHF low (that's a 47% difference in terms of signal power), 50" boom length vs the 5884's 58", $89 list vs. $43 and free shipping by Radio Shack... up to you.
Really, for VHF low (ch 3) the boom length is going to be the most salient characteristic, wrt how much gain the antenna has. A serious VHF-low antenna could have a 12-15' boom length. Comparable boom lengths are going to perform similarly.
At a 50' run you will probably have enough signal amplitude to use a passive splitter. There are plenty of them on the market. Split anywhere along the run that you wish. Test if there is a difference with the splitter in the circuit or not. If you need more amplitude, a medium gain amplifier at the mast would be plenty.
hth!