JANH vs. LAPR

Last updated Jun 23, 2026

JANH (Innovator Premium Income 20 Barrier ETF - January) and LAPR (Innovator Premium Income 15 Buffer ETF - April) are both Options Trading funds from Innovator. Both are actively managed. Over the past year, JANH returned 7.63% vs 6.94% for LAPR. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

JANH vs. LAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 20 Barrier ETF - January (JANH) and Innovator Premium Income 15 Buffer ETF - April (LAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JANH having a 3.50% return and LAPR slightly lower at 3.40%.

JANH

• 1D: -0.04%
• 1M: 0.38%
• YTD: 3.50%
• 6M: 3.49%
• 1Y: 7.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LAPR

• 1D: 0.08%
• 1M: 0.24%
• YTD: 3.40%
• 6M: 3.51%
• 1Y: 6.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JANH vs. LAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JANH Innovator Premium Income 20 Barrier ETF - January	3.50%	6.34%	4.39%
LAPR Innovator Premium Income 15 Buffer ETF - April	3.40%	5.81%	4.66%

Correlation

The correlation between JANH and LAPR is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 1, 2024	0.66

The correlation between JANH and LAPR has been stable across timeframes, ranging from 0.57 to 0.66 - a consistent structural relationship.

Return for Risk

JANH vs. LAPR — Risk / Return Rank

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

JANH

JANH Risk / Return Rank: 75
JANH Sharpe Ratio Rank: 70
JANH Sortino Ratio Rank: 79
JANH Omega Ratio Rank: 92
JANH Calmar Ratio Rank: 52
JANH Martin Ratio Rank: 80

LAPR

LAPR Risk / Return Rank: 99
LAPR Sharpe Ratio Rank: 98
LAPR Sortino Ratio Rank: 99
LAPR Omega Ratio Rank: 99
LAPR Calmar Ratio Rank: 99
LAPR Martin Ratio Rank: 99

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.

JANH vs. LAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 20 Barrier ETF - January (JANH) and Innovator Premium Income 15 Buffer ETF - April (LAPR). 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.

	JANH	LAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.19	5.57	-3.38
Sortino ratio: Return per unit of downside risk	3.36	12.09	-8.73
Omega ratio: Gain probability vs. loss probability	1.59	2.87	-1.28
Calmar ratio: Return relative to maximum drawdown	2.52	19.59	-17.07
Martin ratio: Return relative to average drawdown	15.40	113.23	-97.83

JANH vs. LAPR - Sharpe Ratio Comparison

The current JANH Sharpe Ratio is 2.19, which is lower than the LAPR Sharpe Ratio of 5.57. The chart below compares the historical Sharpe Ratios of JANH and LAPR, 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

JANH vs. LAPR - Drawdown Comparison

The maximum JANH drawdown since its inception was -8.00%, which is greater than LAPR's maximum drawdown of -3.81%. Use the drawdown chart below to compare losses from any high point for JANH and LAPR.

Drawdown Indicators

	JANH	LAPR	Difference
Max Drawdown Largest peak-to-trough decline	-8.00%	-3.81%	-4.19%
Max Drawdown (1Y) Largest decline over 1 year	-3.04%	-0.36%	-2.68%
Current Drawdown Current decline from peak	-0.10%	-0.04%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.30%	-0.12%	-0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	0.06%	+0.44%

Volatility

JANH vs. LAPR - Volatility Comparison

Innovator Premium Income 20 Barrier ETF - January (JANH) has a higher volatility of 0.84% compared to Innovator Premium Income 15 Buffer ETF - April (LAPR) at 0.44%. This indicates that JANH's price experiences larger fluctuations and is considered to be riskier than LAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANH	LAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.84%	0.44%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	3.41%	1.05%	+2.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	1.25%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.34%	3.27%	+3.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.34%	3.27%	+3.07%

JANH vs. LAPR - Expense Ratio Comparison

Both JANH and LAPR have an expense ratio of 0.79%.

Dividends

JANH vs. LAPR - Dividend Comparison

JANH's dividend yield for the trailing twelve months is around 6.12%, more than LAPR's 5.52% yield.

Position	TTM	2025	2024
JANH Innovator Premium Income 20 Barrier ETF - January	6.12%	6.20%	6.71%
LAPR Innovator Premium Income 15 Buffer ETF - April	5.52%	5.40%	4.21%

Frequently Asked Questions

Can I hold both JANH and LAPR in my portfolio?

JANH and LAPR have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JANH or LAPR?

JANH has higher volatility (0.84%) compared to LAPR (0.44%). In terms of maximum drawdown, JANH dropped -8.00% vs LAPR's -3.81%.

Which ETF is better, JANH or LAPR?

On 1-year performance, JANH leads with 7.63% vs 6.94% for LAPR. Both ETFs have the same 0.79% expense ratio. On volatility, LAPR has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JANH or LAPR?

Over the 1-year period, JANH has performed better with a 7.63% return vs 6.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JANH or LAPR?

JANH and LAPR have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, JANH or LAPR?

JANH has the higher dividend yield at 6.12%, compared with 5.52% for LAPR.

Which has better risk-adjusted returns?

LAPR currently has the higher Sharpe Ratio (5.57 vs 2.19), 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.