EBUF vs. KJAN

Last updated Apr 4, 2026

Compare and contrast key facts about Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) and Innovator U.S. Small Cap Power Buffer ETF - January (KJAN).

EBUF and KJAN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EBUF is an actively managed fund by Innovator. It was launched on Jun 28, 2024. KJAN is a passively managed fund by Innovator that tracks the performance of the iShares Russell 2000 ETF. It was launched on Dec 31, 2019.

Performance

EBUF vs. KJAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) and Innovator U.S. Small Cap Power Buffer ETF - January (KJAN). The values are adjusted to include any dividend payments, if applicable.

EBUF vs. KJAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EBUF Innovator Emerging Markets 10 Buffer ETF - Quarterly	2.98%	11.55%	2.86%
KJAN Innovator U.S. Small Cap Power Buffer ETF - January	1.38%	10.90%	7.30%

Returns By Period

In the year-to-date period, EBUF achieves a 2.98% return, which is significantly higher than KJAN's 1.38% return.

EBUF

• 1D: -0.48%
• 1M: 1.29%
• YTD: 2.98%
• 6M: 4.90%
• 1Y: 12.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KJAN

• 1D: 0.35%
• 1M: -1.59%
• YTD: 1.38%
• 6M: 3.20%
• 1Y: 20.99%
• 3Y*: 10.92%
• 5Y*: 6.55%
• 10Y*: —

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

EBUF vs. KJAN - Expense Ratio Comparison

EBUF has a 0.89% expense ratio, which is higher than KJAN's 0.79% expense ratio.

EBUF

Innovator Emerging Markets 10 Buffer ETF - Quarterly

KJAN

Innovator U.S. Small Cap Power Buffer ETF - January

Return for Risk

EBUF vs. KJAN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EBUF

EBUF Risk / Return Rank: 81
EBUF Sharpe Ratio Rank: 79
EBUF Sortino Ratio Rank: 85
EBUF Omega Ratio Rank: 92
EBUF Calmar Ratio Rank: 57
EBUF Martin Ratio Rank: 91

KJAN

KJAN Risk / Return Rank: 63
KJAN Sharpe Ratio Rank: 63
KJAN Sortino Ratio Rank: 65
KJAN Omega Ratio Rank: 58
KJAN Calmar Ratio Rank: 62
KJAN Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EBUF vs. KJAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) and Innovator U.S. Small Cap Power Buffer ETF - January (KJAN). 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.

	EBUF	KJAN	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.17	+0.38
Sortino ratio Return per unit of downside risk	2.39	1.73	+0.66
Omega ratio Gain probability vs. loss probability	1.43	1.23	+0.20
Calmar ratio Return relative to maximum drawdown	1.81	1.96	-0.16
Martin ratio Return relative to average drawdown	14.14	8.29	+5.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EBUF vs. KJAN - Sharpe Ratio Comparison

The current EBUF Sharpe Ratio is 1.54, which is higher than the KJAN Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of EBUF and KJAN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EBUF	KJAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.17	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.53	0.49	+1.04

Correlation

The correlation between EBUF and KJAN is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EBUF vs. KJAN - Dividend Comparison

Neither EBUF nor KJAN has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

EBUF vs. KJAN - Drawdown Comparison

The maximum EBUF drawdown since its inception was -6.49%, smaller than the maximum KJAN drawdown of -28.94%. Use the drawdown chart below to compare losses from any high point for EBUF and KJAN.

Drawdown Indicators

	EBUF	KJAN	Difference
Max Drawdown Largest peak-to-trough decline	-6.49%	-28.94%	+22.45%
Max Drawdown (1Y) Largest decline over 1 year	-3.28%	-5.42%	+2.14%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.83%	—
Current Drawdown Current decline from peak	-0.48%	-2.78%	+2.30%
Average Drawdown Average peak-to-trough decline	-0.53%	-4.21%	+3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	2.07%	-1.25%

Volatility

EBUF vs. KJAN - Volatility Comparison

The current volatility for Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) is 3.05%, while Innovator U.S. Small Cap Power Buffer ETF - January (KJAN) has a volatility of 4.14%. This indicates that EBUF experiences smaller price fluctuations and is considered to be less risky than KJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBUF	KJAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	4.14%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	4.47%	8.66%	-4.19%
Volatility (1Y) Calculated over the trailing 1-year period	7.57%	14.03%	-6.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.57%	13.04%	-6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.57%	15.58%	-9.01%