- ISIN
- US45782C3007
- CUSIP
- 45782C300
- Issuer
- Innovator
- Inception Date
- Dec 31, 2018
- Region
- North America (U.S.)
- Category
- Defined Outcome
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P 500 Index
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $320M
Share Price Chart
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Performance
UJAN Performance Chart
Innovator U.S. Equity Ultra Buffer ETF - January (UJAN) is up 4.6% since the beginning of the year. UJAN is currently trading at $45 per share. Investors who bought $1,000 worth of UJAN shares 5 years ago would now be looking at an investment worth $1,462.
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Returns By Period
Innovator U.S. Equity Ultra Buffer ETF - January (UJAN) has returned 4.60% so far this year and 14.26% over the past 12 months.
Innovator U.S. Equity Ultra Buffer ETF - January
- 1D
- -0.09%
- 1M
- 0.43%
- YTD
- 4.60%
- 6M
- 4.72%
- 1Y
- 14.26%
- 3Y*
- 11.82%
- 5Y*
- 7.89%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
UJAN Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2019, UJAN's average daily return is +0.03%, while the average monthly return is +0.68%. At this rate, an investment would double in approximately 8.5 years.
Historically, 72% of months were positive and 28% were negative. The best month was Nov 2023 with a return of +5.9%, while the worst month was Mar 2020 at -5.1%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 3 months.
On a daily basis, UJAN closed higher 57% of trading days. The best single day was Apr 9, 2025 with a return of +4.0%, while the worst single day was Mar 12, 2020 at -4.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.67% | -0.07% | -2.32% | 4.80% | 1.71% | -0.13% | 4.60% | ||||||
| 2025 | 1.41% | -0.43% | -3.02% | -0.08% | 3.31% | 2.74% | 1.37% | 1.13% | 1.58% | 0.86% | 0.85% | 0.96% | 11.07% |
| 2024 | 0.90% | 2.53% | 1.35% | -1.55% | 2.83% | 1.53% | 0.63% | 1.27% | 0.61% | 0.43% | 1.41% | 0.52% | 13.13% |
| 2023 | 3.71% | -1.06% | 1.99% | 1.12% | 0.76% | 3.32% | 1.03% | 0.22% | -1.72% | -1.16% | 5.87% | 1.03% | 15.89% |
| 2022 | -1.96% | -1.42% | 1.34% | -3.85% | 0.27% | -2.38% | 1.79% | -0.74% | -0.78% | 1.37% | 0.34% | 0.07% | -5.95% |
| 2021 | -0.67% | 0.64% | 1.71% | 1.24% | 0.34% | 0.42% | 0.47% | 0.56% | -0.64% | 1.13% | 0.06% | 0.41% | 5.79% |
Benchmark Metrics
Innovator U.S. Equity Ultra Buffer ETF - January has an annualized alpha of 2.93%, beta of 0.32, and R2 of 0.79 versus S&P 500 Index. Calculated based on daily prices since January 02, 2019.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (34.13%) than losses (32.25%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 2.93% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.32 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
- 2.93%
- Beta
- 0.32
- R²
- 0.79
- Upside Capture
- 34.13%
- Downside Capture
- 32.25%
Expense Ratio
UJAN has an expense ratio of 0.79%, placing it in the medium range.
Return for Risk
Risk / Return Rank
UJAN ranks 86 for risk / return — in the top 86% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - January (UJAN) 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.
| UJAN | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.37 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 2.78 | +0.81 |
| Martin ratioReturn relative to average drawdown | 18.94 | 12.44 | +6.50 |
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 Ultra 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 Ultra Buffer ETF - January was 13.69%, occurring on Mar 20, 2020. Recovery took 95 trading sessions.
The current Innovator U.S. Equity Ultra Buffer ETF - January drawdown is 0.24%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -13.69%Mar 2020 | 29d | 4mo 18d | 5mo 17dFeb 2020 - Aug 2020 |
2025 selloff2025 | -9.03%Apr 2025 | 1mo 17d | 2mo 17d | 4mo 4dFeb 2025 - Jun 2025 |
Bear market2022 | -8.85%Jun 2022 | 5mo 13d | 11mo 6d | 1y 4moJan 2022 - May 2023 |
2023 pullback2023 | -4.84%Oct 2023 | 1mo 12d | 12d | 1mo 24dSep 2023 - Nov 2023 |
2026 pullback2026 | -3.98%Mar 2026 | 1mo 25d | 15d | 2mo 10dFeb 2026 - Apr 2026 |
Drawdown Indicators
| UJAN | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.69% | -56.78% | +43.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.98% | -9.10% | +5.12% |
Max Drawdown (3Y)Largest decline over 3 years | -9.03% | -18.90% | +9.87% |
Max Drawdown (5Y)Largest decline over 5 years | -9.03% | -25.43% | +16.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.24% | -1.80% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -1.55% | -10.71% | +9.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 2.03% | -1.28% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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