- ISIN
- US45782C5085
- CUSIP
- 45782C508
- Issuer
- Innovator
- Inception Date
- Jan 2, 2019
- Region
- North America (U.S.)
- Category
- Defined Outcome
- Leveraged
- 1x (No leverage)
- Index Tracked
- Cboe S&P 500 15% Buffer Protect January Series Index
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Assets Under Management
- $1B
Highlights
- Avg. Volume (1M)
- 69K
- Avg. Volume Value (1M)
- $3.42M
Share Price Chart
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Performance
PJAN Performance Chart
Innovator U.S. Equity Power Buffer ETF - January (PJAN) is up 6.6% since the beginning of the year. PJAN is currently trading at $50 per share. Investors who bought $1,000 worth of PJAN shares 5 years ago would now be looking at an investment worth $1,537.
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Returns By Period
Innovator U.S. Equity Power Buffer ETF - January (PJAN) has returned 6.55% so far this year and 13.35% over the past 12 months.
Innovator U.S. Equity Power Buffer ETF - January
- 1D
- 0.50%
- 1M
- 1.09%
- 6M
- 5.43%
- YTD
- 6.55%
- 1Y
- 13.35%
- 3Y*
- 12.42%
- 5Y*
- 8.97%
- 10Y*
- —
- ALL TIME*
- 9.52%
Benchmark (S&P 500 Index)
- 1D
- 1.48%
- 1M
- 1.57%
- 6M
- 8.95%
- YTD
- 11.03%
- 1Y
- 21.84%
- 3Y*
- 19.28%
- 5Y*
- 11.54%
- 10Y*
- 13.29%
- ALL TIME*
- 8.11%
PJAN Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2019, PJAN's average daily return is +0.04%, while the average monthly return is +0.78%. At this rate, an investment would double in approximately 7.4 years.
Historically, 73% of months were positive and 27% were negative. The best month was Apr 2020 with a return of +7.3%, while the worst month was Mar 2020 at -7.2%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 3 months.
On a daily basis, PJAN closed higher 57% of trading days. The best single day was Mar 24, 2020 with a return of +6.7%, while the worst single day was Mar 12, 2020 at -7.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.83% | -0.23% | -2.47% | 5.14% | 2.04% | -0.00% | 0.73% | 0.50% | 6.55% | ||||
| 2025 | 1.42% | -0.47% | -2.77% | -0.36% | 3.57% | 2.93% | 1.27% | 1.12% | 1.52% | 0.71% | 0.87% | 1.07% | 11.29% |
| 2024 | 1.21% | 2.33% | 1.40% | -1.25% | 2.64% | 1.49% | 0.67% | 1.28% | 0.74% | 0.25% | 1.43% | 0.56% | 13.45% |
| 2023 | 4.35% | -1.22% | 2.25% | 1.26% | 0.59% | 3.78% | 1.34% | 0.25% | -2.45% | -1.68% | 7.16% | 1.58% | 18.18% |
| 2022 | -2.46% | -1.54% | 1.94% | -4.85% | 0.90% | -3.97% | 4.80% | -1.46% | -5.10% | 5.78% | 3.89% | -2.57% | -5.29% |
| 2021 | -1.01% | 1.68% | 2.50% | 1.43% | 0.72% | 0.66% | 0.40% | 0.80% | -0.54% | 1.33% | 0.05% | 0.50% | 8.80% |
Benchmark Metrics
Innovator U.S. Equity Power Buffer ETF - January has an annualized alpha of 1.33%, beta of 0.50, and R2 of 0.88 versus S&P 500 Index. Calculated based on daily prices since January 02, 2019.
- This ETF participated in 45.94% of S&P 500 Index downside but only 44.56% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.50 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 1.33%
- Beta
- 0.50
- R²
- 0.88
- Upside Capture
- 44.56%
- Downside Capture
- 45.94%
Expense Ratio
PJAN has an expense ratio of 0.79%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PJAN ranks 88 for risk / return — above 88% of ETFs peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - January (PJAN) and compare them to S&P 500 Index.
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.
| PJAN | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.55 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.31 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 2.41 | +0.48 |
| Martin ratioReturn relative to average drawdown | 15.07 | 10.22 | +4.84 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Innovator U.S. Equity Power Buffer ETF - January. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Innovator U.S. Equity Power Buffer ETF - January was 21.25%, occurring on Mar 23, 2020. Recovery took 94 trading sessions.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-21.25%Mar 2020 | 1mo 2d | 4mo 15d | 5mo 17dFeb 2020 - Aug 2020 | COVID crash2020 |
-11.93%Oct 2022 | 9mo 10d | 6mo 3d | 1y 3moJan 2022 - Apr 2023 | Bear market2022 |
-10.49%Apr 2025 | 1mo 17d | 2mo 3d | 3mo 20dFeb 2025 - Jun 2025 | 2025 selloff2025 |
-5.51%Oct 2023 | 1mo 12d | 17d | 1mo 29dSep 2023 - Nov 2023 | — |
-4.63%Mar 2026 | 1mo 27d | 17d | 2mo 14dJan 2026 - Apr 2026 | — |
Drawdown Indicators
| PJAN | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.25% | -56.78% | +35.53% |
Max Drawdown (1Y)Largest decline over 1 year | -4.63% | -9.10% | +4.47% |
Max Drawdown (3Y)Largest decline over 3 years | -10.49% | -18.90% | +8.41% |
Max Drawdown (5Y)Largest decline over 5 years | -11.93% | -25.43% | +13.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.12% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -1.70% | -10.70% | +9.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 2.14% | -1.25% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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