Randomly Select an Object from a Set

I've seen many posts about how to randomly select an object from a set.  In Java there are only two ways to do this that make sense.

Option 1:  Select from a set by picking a random number ranging from 0 to the set's size and cycle through the set until you get to that position and return that object.

public Object randomlySelectObjectFromSetByPositionNumber(final Set<?> objects) {
        if (objects != null && !objects.isEmpty()) {
            final Random random = new Random();
            final int position = random.nextInt(objects.size());
            int pos = 0;
            for (Object tmpString : objects) {
                if (pos == position) {
                    return tmpString;
                } else {
                    pos++;
                }
            }

            LOGGER.warn("unable to select randomly from set - set exhausted");
            return null;
        } else {
            return null;
        }
    }


Options 2:  Convert the set to a list first, then pick a random number ranging from 0 to the list's size and get the object at the position.

public Object randomlySelectObjectFromList(final Set<?> objects) {
        if (objects != null && !objects.isEmpty()) {

            final List<Object> listCopy = new ArrayList<>();
            listCopy.addAll(objects);

            final Random random = new Random();
            final int position = random.nextInt(listCopy.size());
            return listCopy.get(position);
        } else {
            return null;
        }
    }


The question that should really be asked is, "Which of these is faster?"  I will investigate and explain soon...