FJAN vs. FOCT

Last updated Jun 26, 2026

FJAN (FT Vest U.S. Equity Buffer ETF - January) and FOCT (FT Vest U.S. Equity Buffer ETF - October) are both Defined Outcome funds from FT Vest. FJAN is passively managed, while FOCT is actively managed. Over the past 5 years, FJAN returned 10.78%/yr vs 8.80%/yr for FOCT. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.85% expense ratio.

Performance

FJAN vs. FOCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Buffer ETF - January (FJAN) and FT Vest U.S. Equity Buffer ETF - October (FOCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FJAN having a 5.60% return and FOCT slightly higher at 5.68%.

FJAN

• 1D: 0.16%
• 1M: -0.54%
• YTD: 5.60%
• 6M: 5.40%
• 1Y: 16.03%
• 3Y*: 14.39%
• 5Y*: 10.78%
• 10Y*: —

FOCT

• 1D: 0.01%
• 1M: -0.43%
• YTD: 5.68%
• 6M: 5.08%
• 1Y: 17.35%
• 3Y*: 12.01%
• 5Y*: 8.80%
• 10Y*: —

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

FJAN vs. FOCT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FJAN FT Vest U.S. Equity Buffer ETF - January	5.60%	12.74%	15.24%	21.65%	-3.96%	12.77%
FOCT FT Vest U.S. Equity Buffer ETF - October	5.68%	14.92%	9.62%	17.81%	-7.59%	13.29%

Correlation

The correlation between FJAN and FOCT is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 19, 2021	0.92

The correlation between FJAN and FOCT has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

FJAN vs. FOCT - Sectors Allocation Comparison

Sectors	FJAN	FOCT
Technology	39.0%	39.0%
Financial Services	11.1%	11.1%
Communication Services	10.6%	10.6%
Consumer Cyclical	9.9%	9.9%
Healthcare	8.3%	8.3%
Industrials	7.8%	7.8%
Consumer Defensive	4.5%	4.5%
Energy	3.1%	3.1%
Utilities	2.1%	2.1%
Real Estate	1.8%	1.8%
Basic Materials	1.7%	1.7%

Return for Risk

FJAN vs. FOCT — Risk / Return Rank

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

FJAN

FJAN Risk / Return Rank: 77
FJAN Sharpe Ratio Rank: 78
FJAN Sortino Ratio Rank: 80
FJAN Omega Ratio Rank: 82
FJAN Calmar Ratio Rank: 63
FJAN Martin Ratio Rank: 81

FOCT

FOCT Risk / Return Rank: 79
FOCT Sharpe Ratio Rank: 79
FOCT Sortino Ratio Rank: 81
FOCT Omega Ratio Rank: 81
FOCT Calmar Ratio Rank: 69
FOCT Martin Ratio Rank: 83

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.

FJAN vs. FOCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Buffer ETF - January (FJAN) and FT Vest U.S. Equity Buffer ETF - October (FOCT). 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.

	FJAN	FOCT	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.18	-0.01
Sortino ratio: Return per unit of downside risk	3.11	3.12	-0.01
Omega ratio: Gain probability vs. loss probability	1.43	1.42	+0.01
Calmar ratio: Return relative to maximum drawdown	2.72	3.04	-0.31
Martin ratio: Return relative to average drawdown	13.97	14.69	-0.72

FJAN vs. FOCT - Sharpe Ratio Comparison

The current FJAN Sharpe Ratio is 2.17, which is comparable to the FOCT Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of FJAN and FOCT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FJAN vs. FOCT - Drawdown Comparison

The maximum FJAN drawdown since its inception was -13.58%, roughly equal to the maximum FOCT drawdown of -14.07%. Use the drawdown chart below to compare losses from any high point for FJAN and FOCT.

Drawdown Indicators

	FJAN	FOCT	Difference
Max Drawdown Largest peak-to-trough decline	-13.58%	-14.07%	+0.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.91%	-5.74%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-12.92%	-13.06%	+0.14%
Max Drawdown (5Y) Largest decline over 5 years	-13.58%	-14.07%	+0.49%
Current Drawdown Current decline from peak	-1.13%	-1.13%	0.00%
Average Drawdown Average peak-to-trough decline	-1.98%	-2.24%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	1.18%	-0.03%

Volatility

FJAN vs. FOCT - Volatility Comparison

FT Vest U.S. Equity Buffer ETF - January (FJAN) and FT Vest U.S. Equity Buffer ETF - October (FOCT) have volatilities of 2.17% and 2.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJAN	FOCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	2.20%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	6.05%	6.17%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	7.41%	8.00%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.52%	11.11%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.36%	10.88%	-0.52%

FJAN vs. FOCT - Expense Ratio Comparison

Both FJAN and FOCT have an expense ratio of 0.85%.

Dividends

FJAN vs. FOCT - Dividend Comparison

Neither FJAN nor FOCT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FJAN and FOCT in my portfolio?

With a correlation of 0.96, FJAN and FOCT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FJAN or FOCT?

FOCT has higher volatility (2.20%) compared to FJAN (2.17%). In terms of maximum drawdown, FJAN dropped -13.58% vs FOCT's -14.07%.

Which ETF is better, FJAN or FOCT?

On 5-year performance, FJAN leads with 10.78% vs 8.80% for FOCT. Both ETFs have the same 0.85% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FJAN or FOCT?

Over the 5-year period, FJAN has performed better with a 10.78% return vs 8.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FJAN or FOCT?

FJAN and FOCT have the same expense ratio: 0.85% per year.

Which ETF pays a higher dividend yield, FJAN or FOCT?

FJAN and FOCT have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

FOCT currently has the higher Sharpe Ratio (2.18 vs 2.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.