FOCT vs. GJAN

Last updated Jun 24, 2026

FOCT (FT Vest U.S. Equity Buffer ETF - October) and GJAN (FT Vest U.S. Equity Moderate Buffer ETF - January) are both Defined Outcome funds from FT Vest. FOCT is actively managed, while GJAN is passively managed. Over the past 3 years, FOCT returned 11.88%/yr vs 11.56%/yr for GJAN. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.85% expense ratio.

Performance

FOCT vs. GJAN - Performance Comparison

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

Returns By Period

In the year-to-date period, FOCT achieves a 5.72% return, which is significantly higher than GJAN's 4.35% return.

FOCT

• 1D: -0.69%
• 1M: -0.13%
• YTD: 5.72%
• 6M: 5.29%
• 1Y: 18.22%
• 3Y*: 11.88%
• 5Y*: 8.83%
• 10Y*: —

GJAN

• 1D: -0.51%
• 1M: -0.25%
• YTD: 4.35%
• 6M: 4.30%
• 1Y: 13.53%
• 3Y*: 11.56%
• 5Y*: —
• 10Y*: —

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

FOCT vs. GJAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FOCT FT Vest U.S. Equity Buffer ETF - October	5.72%	14.92%	9.62%	14.29%
GJAN FT Vest U.S. Equity Moderate Buffer ETF - January	4.35%	10.71%	12.09%	13.83%

Correlation

The correlation between FOCT and GJAN is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 23, 2023	0.89

The correlation between FOCT and GJAN has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

FOCT vs. GJAN - Sectors Allocation Comparison

Sectors	FOCT	GJAN
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

FOCT vs. GJAN — Risk / Return Rank

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

FOCT

FOCT Risk / Return Rank: 76
FOCT Sharpe Ratio Rank: 76
FOCT Sortino Ratio Rank: 78
FOCT Omega Ratio Rank: 79
FOCT Calmar Ratio Rank: 68
FOCT Martin Ratio Rank: 82

GJAN

GJAN Risk / Return Rank: 79
GJAN Sharpe Ratio Rank: 80
GJAN Sortino Ratio Rank: 85
GJAN Omega Ratio Rank: 86
GJAN Calmar Ratio Rank: 64
GJAN Martin Ratio Rank: 82

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.

FOCT vs. GJAN - Risk-Adjusted Trends Comparison

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

	FOCT	GJAN	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.31	-0.04
Sortino ratio: Return per unit of downside risk	3.26	3.38	-0.12
Omega ratio: Gain probability vs. loss probability	1.44	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	3.19	2.88	+0.30
Martin ratio: Return relative to average drawdown	15.48	14.83	+0.65

FOCT vs. GJAN - Sharpe Ratio Comparison

The current FOCT Sharpe Ratio is 2.27, which is comparable to the GJAN Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of FOCT and GJAN, 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

FOCT vs. GJAN - Drawdown Comparison

The maximum FOCT drawdown since its inception was -14.07%, which is greater than GJAN's maximum drawdown of -10.60%. Use the drawdown chart below to compare losses from any high point for FOCT and GJAN.

Drawdown Indicators

	FOCT	GJAN	Difference
Max Drawdown Largest peak-to-trough decline	-14.07%	-10.60%	-3.47%
Max Drawdown (1Y) Largest decline over 1 year	-5.74%	-4.71%	-1.03%
Max Drawdown (3Y) Largest decline over 3 years	-13.06%	-10.60%	-2.46%
Max Drawdown (5Y) Largest decline over 5 years	-14.07%	—	—
Current Drawdown Current decline from peak	-1.10%	-0.87%	-0.23%
Average Drawdown Average peak-to-trough decline	-2.24%	-0.78%	-1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	0.91%	+0.27%

Volatility

FOCT vs. GJAN - Volatility Comparison

FT Vest U.S. Equity Buffer ETF - October (FOCT) has a higher volatility of 2.22% compared to FT Vest U.S. Equity Moderate Buffer ETF - January (GJAN) at 1.72%. This indicates that FOCT's price experiences larger fluctuations and is considered to be riskier than GJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOCT	GJAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	1.72%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	6.20%	4.88%	+1.32%
Volatility (1Y) Calculated over the trailing 1-year period	8.07%	5.89%	+2.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.11%	7.60%	+3.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.89%	7.60%	+3.29%

FOCT vs. GJAN - Expense Ratio Comparison

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

Dividends

FOCT vs. GJAN - Dividend Comparison

Neither FOCT nor GJAN has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FOCT and GJAN in my portfolio?

With a correlation of 0.94, FOCT and GJAN 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, FOCT or GJAN?

FOCT has higher volatility (2.22%) compared to GJAN (1.72%). In terms of maximum drawdown, FOCT dropped -14.07% vs GJAN's -10.60%.

Which ETF is better, FOCT or GJAN?

On 3-year performance, FOCT leads with 11.88% vs 11.56% for GJAN. Both ETFs have the same 0.85% expense ratio. On volatility, GJAN has been the lower-risk option at 1.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FOCT or GJAN?

Over the 3-year period, FOCT has performed better with a 11.88% return vs 11.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FOCT or GJAN?

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

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

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

Which has better risk-adjusted returns?

GJAN currently has the higher Sharpe Ratio (2.31 vs 2.27), 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.