GJAN vs. FOCT

Last updated Aug 2, 2026

GJAN (FT Vest U.S. Equity Moderate Buffer ETF - January) and FOCT (FT Vest U.S. Equity Buffer ETF - October) are both Defined Outcome funds from FT Vest. GJAN is passively managed, while FOCT is actively managed. Over the past 3 years, GJAN returned 11.18%/yr vs 10.98%/yr for FOCT. Their correlation of 0.89 means they have usually moved in the same direction. Both charge a 0.85% expense ratio.

Performance

GJAN vs. FOCT - Performance Comparison

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

Returns By Period

In the year-to-date period, GJAN achieves a 5.88% return, which is significantly lower than FOCT's 7.68% return.

GJAN

• 1D: 0.39%
• 1M: 0.69%
• 6M: 5.31%
• YTD: 5.88%
• 1Y: 12.73%
• 3Y*: 11.18%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.12%

FOCT

• 1D: 0.59%
• 1M: 0.88%
• 6M: 6.85%
• YTD: 7.68%
• 1Y: 17.36%
• 3Y*: 10.98%
• 5Y*: 9.10%
• 10Y*: —
• ALL TIME*: 10.20%

*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)
FOCT FT Vest U.S. Equity Buffer ETF - October	$750.38K	$749.44K	$2.00M
GJAN FT Vest U.S. Equity Moderate Buffer ETF - January	$430.42K	$535.40K	$1.08M

GJAN vs. FOCT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GJAN FT Vest U.S. Equity Moderate Buffer ETF - January	5.88%	10.71%	12.09%	13.83%
FOCT FT Vest U.S. Equity Buffer ETF - October	7.68%	14.92%	9.62%	14.29%

Correlation

The correlation between GJAN and FOCT is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (All Time) Calculated using the full available price history since Jan 23, 2023	0.89

The correlation between GJAN and FOCT has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

GJAN vs. FOCT - Sectors Allocation Comparison

Sectors	GJAN	FOCT
Technology	37.9%	37.9%
Financial Services	11.7%	11.7%
Communication Services	10.0%	10.0%
Consumer Cyclical	9.6%	9.6%
Healthcare	9.1%	9.1%
Industrials	8.4%	8.4%
Consumer Defensive	4.6%	4.6%
Energy	3.0%	3.0%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.7%	1.7%

Return for Risk

GJAN vs. FOCT — Risk / Return Rank

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

GJAN

GJAN Risk / Return Rank: 83
GJAN Sharpe Ratio Rank: 84
GJAN Sortino Ratio Rank: 86
GJAN Omega Ratio Rank: 88
GJAN Calmar Ratio Rank: 71
GJAN Martin Ratio Rank: 87

FOCT

FOCT Risk / Return Rank: 85
FOCT Sharpe Ratio Rank: 85
FOCT Sortino Ratio Rank: 86
FOCT Omega Ratio Rank: 86
FOCT Calmar Ratio Rank: 79
FOCT Martin Ratio Rank: 89

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.

GJAN vs. FOCT - Risk-Adjusted Trends Comparison

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

	GJAN	FOCT	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.98	+0.01
Sortino ratio: Return per unit of downside risk	2.91	2.85	+0.06
Omega ratio: Gain probability vs. loss probability	1.40	1.38	+0.02
Calmar ratio: Return relative to maximum drawdown	2.51	2.81	-0.30
Martin ratio: Return relative to average drawdown	12.78	13.52	-0.74

GJAN vs. FOCT - Sharpe Ratio Comparison

The current GJAN Sharpe Ratio is 1.99, which is comparable to the FOCT Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of GJAN 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

GJAN vs. FOCT - Drawdown Comparison

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

Drawdown Indicators

	GJAN	FOCT	Difference
Max Drawdown Largest peak-to-trough decline	-10.60%	-14.07%	+3.47%
Max Drawdown (1Y) Largest decline over 1 year	-4.71%	-5.74%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-10.60%	-13.06%	+2.46%
Max Drawdown (5Y) Largest decline over 5 years	—	-14.07%	—
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-0.77%	-2.21%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	1.19%	-0.26%

Volatility

GJAN vs. FOCT - Volatility Comparison

The current volatility for FT Vest U.S. Equity Moderate Buffer ETF - January (GJAN) is 1.52%, while FT Vest U.S. Equity Buffer ETF - October (FOCT) has a volatility of 2.05%. This indicates that GJAN experiences smaller price fluctuations and is considered to be less risky than FOCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GJAN	FOCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.52%	2.05%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	4.94%	6.26%	-1.32%
Volatility (1Y) Calculated over the trailing 1-year period	5.95%	8.16%	-2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.53%	11.14%	-3.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.53%	10.82%	-3.29%

GJAN vs. FOCT - Expense Ratio Comparison

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

Dividends

GJAN vs. FOCT - Dividend Comparison

Neither GJAN nor FOCT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GJAN and FOCT in my portfolio?

With a correlation of 0.95, GJAN 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, GJAN or FOCT?

FOCT has higher volatility (2.05%) compared to GJAN (1.52%). In terms of maximum drawdown, GJAN dropped -10.60% vs FOCT's -14.07%.

Which ETF is better, GJAN or FOCT?

On 3-year performance, GJAN leads with 11.18% vs 10.98% for FOCT. Both ETFs have the same 0.85% expense ratio. On volatility, GJAN has been the lower-risk option at 1.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GJAN or FOCT?

Over the 3-year period, GJAN has performed better with a 11.18% return vs 10.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GJAN or FOCT?

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

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

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

Which has better risk-adjusted returns?

GJAN currently has the higher Sharpe Ratio (1.99 vs 1.98), 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.