DEFR vs. JANB

Last updated Aug 4, 2026

DEFR (Aptus Deferred Income ETF) and JANB (Aptus January Buffer ETF) are both exchange-traded funds - DEFR is a Intermediate Core-Plus Bond fund actively managed by Aptus, while JANB is a Defined Outcome fund actively managed by Aptus. Both are actively managed. Their 0.49 correlation means their historical movements had little consistent relationship. DEFR charges 0.79%/yr vs 0.25%/yr for JANB.

Performance

DEFR vs. JANB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus Deferred Income ETF (DEFR) and Aptus January Buffer ETF (JANB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEFR achieves a -0.51% return, which is significantly lower than JANB's 7.57% return.

DEFR

• 1D: 0.40%
• 1M: -0.45%
• 6M: -0.49%
• YTD: -0.51%
• 1Y: 3.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.10%

JANB

• 1D: 0.58%
• 1M: 1.38%
• 6M: 6.24%
• YTD: 7.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DEFR Aptus Deferred Income ETF	$436.74K	$502.40K	$592.65K
JANB Aptus January Buffer ETF	$166.17K	$159.93K	$575.10K

DEFR vs. JANB - Yearly Performance Comparison

	2026 (YTD)	2025
DEFR Aptus Deferred Income ETF	-0.51%	1.23%
JANB Aptus January Buffer ETF	7.57%	2.76%

Correlation

The correlation between DEFR and JANB is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025	0.49

Return for Risk

DEFR vs. JANB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DEFR

DEFR Risk / Return Rank: 24
DEFR Sharpe Ratio Rank: 25
DEFR Sortino Ratio Rank: 23
DEFR Omega Ratio Rank: 23
DEFR Calmar Ratio Rank: 24
DEFR Martin Ratio Rank: 22

JANB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DEFR vs. JANB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus Deferred Income ETF (DEFR) and Aptus January Buffer ETF (JANB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	DEFR	JANB	Difference
Sharpe ratio: Return per unit of total volatility	0.63	—	—
Sortino ratio: Return per unit of downside risk	0.91	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.78	—	—
Martin ratio: Return relative to average drawdown	1.73	—	—

Drawdowns

DEFR vs. JANB - Drawdown Comparison

The maximum DEFR drawdown since its inception was -3.90%, smaller than the maximum JANB drawdown of -6.52%. Use the drawdown chart below to compare losses from any high point for DEFR and JANB.

Drawdown Indicators

	DEFR	JANB	Difference
Max Drawdown Largest peak-to-trough decline	-3.90%	-6.52%	+2.62%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	—	—
Current Drawdown Current decline from peak	-2.80%	0.00%	-2.80%
Average Drawdown Average peak-to-trough decline	-1.16%	-1.01%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	—	—

Volatility

Volatility by Period

	DEFR	JANB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.90%	7.38%	-2.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.24%	7.38%	-2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.24%	7.38%	-2.14%

DEFR vs. JANB - Expense Ratio Comparison

DEFR has a 0.79% expense ratio, which is higher than JANB's 0.25% expense ratio.

Dividends

DEFR vs. JANB - Dividend Comparison

Neither DEFR nor JANB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DEFR and JANB in my portfolio?

DEFR and JANB have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DEFR or JANB?

On fees, JANB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DEFR or JANB?

JANB is cheaper with a 0.25% expense ratio, compared with 0.79% for DEFR.

Which ETF pays a higher dividend yield, DEFR or JANB?

DEFR and JANB have nearly identical dividend yields, around 0.00%.

What is the main difference between DEFR and JANB?

DEFR is categorized as Intermediate Core-Plus Bond, while JANB is Defined Outcome. Their fees differ too: 0.79% for DEFR and 0.25% for JANB.