IJAN vs. YSEP

Last updated Jun 5, 2026

IJAN (Innovator International Developed Power Buffer ETF - January) and YSEP (FT Cboe Vest International Equity Buffer ETF - September) are both exchange-traded funds - IJAN is a Defined Outcome fund actively managed by Innovator, while YSEP is a Options Trading fund actively managed by FT Vest. Both are actively managed. Over the past 3 years, IJAN returned 9.66%/yr vs 11.77%/yr for YSEP. Their correlation of 0.93 suggests significant overlap in exposure. IJAN charges 0.85%/yr vs 0.90%/yr for YSEP.

Performance

IJAN vs. YSEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - January (IJAN) and FT Cboe Vest International Equity Buffer ETF - September (YSEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJAN achieves a 4.67% return, which is significantly lower than YSEP's 5.17% return.

IJAN

• 1D: 0.22%
• 1M: 1.35%
• YTD: 4.67%
• 6M: 5.64%
• 1Y: 11.91%
• 3Y*: 9.66%
• 5Y*: 7.18%
• 10Y*: —

YSEP

• 1D: 0.44%
• 1M: 1.53%
• YTD: 5.17%
• 6M: 6.25%
• 1Y: 13.73%
• 3Y*: 11.77%
• 5Y*: —
• 10Y*: —

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

IJAN vs. YSEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IJAN Innovator International Developed Power Buffer ETF - January	4.67%	19.62%	-0.57%	13.82%	-2.52%	2.57%
YSEP FT Cboe Vest International Equity Buffer ETF - September	5.17%	19.88%	4.63%	15.48%	-9.75%	-0.50%

Correlation

The correlation between IJAN and YSEP is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021	0.93

The correlation between IJAN and YSEP has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

IJAN vs. YSEP - Sectors Allocation Comparison

Sectors	IJAN	YSEP
Financial Services	24.7%	24.2%
Industrials	19.8%	18.9%
Healthcare	10.6%	11.2%
Technology	10.3%	9.0%
Consumer Cyclical	7.7%	8.9%
Consumer Defensive	6.7%	7.8%
Basic Materials	5.9%	5.6%
Communication Services	4.5%	5.8%
Energy	4.0%	3.3%
Utilities	4.0%	3.3%
Real Estate	1.9%	2.0%

Return for Risk

IJAN vs. YSEP — Risk / Return Rank

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

IJAN

IJAN Risk / Return Rank: 48
IJAN Sharpe Ratio Rank: 48
IJAN Sortino Ratio Rank: 47
IJAN Omega Ratio Rank: 55
IJAN Calmar Ratio Rank: 40
IJAN Martin Ratio Rank: 50

YSEP

YSEP Risk / Return Rank: 53
YSEP Sharpe Ratio Rank: 50
YSEP Sortino Ratio Rank: 52
YSEP Omega Ratio Rank: 51
YSEP Calmar Ratio Rank: 52
YSEP Martin Ratio Rank: 58

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.

IJAN vs. YSEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - January (IJAN) and FT Cboe Vest International Equity Buffer ETF - September (YSEP). 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.

	IJAN	YSEP	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.70	-0.07
Sortino ratio: Return per unit of downside risk	2.32	2.48	-0.16
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.02
Calmar ratio: Return relative to maximum drawdown	1.95	2.54	-0.59
Martin ratio: Return relative to average drawdown	8.25	10.07	-1.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJAN vs. YSEP - Sharpe Ratio Comparison

The current IJAN Sharpe Ratio is 1.64, which is comparable to the YSEP Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of IJAN and YSEP, 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

	IJAN	YSEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	1.70	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.61	-0.05

Drawdowns

IJAN vs. YSEP - Drawdown Comparison

The maximum IJAN drawdown since its inception was -22.68%, roughly equal to the maximum YSEP drawdown of -22.58%. Use the drawdown chart below to compare losses from any high point for IJAN and YSEP.

Drawdown Indicators

	IJAN	YSEP	Difference
Max Drawdown Largest peak-to-trough decline	-22.68%	-22.58%	-0.10%
Max Drawdown (1Y) Largest decline over 1 year	-6.14%	-5.43%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	-10.30%	-8.75%	-1.55%
Max Drawdown (5Y) Largest decline over 5 years	-16.71%	—	—
Current Drawdown Current decline from peak	-0.07%	-0.04%	-0.03%
Average Drawdown Average peak-to-trough decline	-2.95%	-4.14%	+1.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	1.37%	+0.08%

Volatility

IJAN vs. YSEP - Volatility Comparison

Innovator International Developed Power Buffer ETF - January (IJAN) and FT Cboe Vest International Equity Buffer ETF - September (YSEP) have volatilities of 2.12% and 2.09%, 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

	IJAN	YSEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	2.09%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	6.44%	6.19%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	7.32%	8.10%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.29%	11.41%	-1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.50%	11.41%	+1.09%

IJAN vs. YSEP - Expense Ratio Comparison

IJAN has a 0.85% expense ratio, which is lower than YSEP's 0.90% expense ratio.

Dividends

IJAN vs. YSEP - Dividend Comparison

Neither IJAN nor YSEP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IJAN and YSEP in my portfolio?

IJAN and YSEP have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IJAN or YSEP?

IJAN has higher volatility (2.12%) compared to YSEP (2.09%). In terms of maximum drawdown, IJAN dropped -22.68% vs YSEP's -22.58%.

Which ETF is better, IJAN or YSEP?

On 3-year performance, YSEP leads with 11.77% vs 9.66% for IJAN. On fees, IJAN is cheaper at 0.85% per year. 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, IJAN or YSEP?

Over the 3-year period, YSEP has performed better with a 11.77% return vs 9.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJAN or YSEP?

IJAN is cheaper with a 0.85% expense ratio, compared with 0.90% for YSEP.

Which ETF pays a higher dividend yield, IJAN or YSEP?

IJAN and YSEP have nearly identical dividend yields, around 0.00%.

What is the main difference between IJAN and YSEP?

IJAN is categorized as Defined Outcome, while YSEP is Options Trading. They also come from different issuers: Innovator and FT Vest. Their fees differ too: 0.85% for IJAN and 0.90% for YSEP.

Which has better risk-adjusted returns?

YSEP currently has the higher Sharpe Ratio (1.70 vs 1.64), 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.