KJAN vs. POCT

Last updated Aug 4, 2026

KJAN (Innovator U.S. Small Cap Power Buffer ETF - January) and POCT (Innovator U.S. Equity Power Buffer ETF October) are both Defined Outcome funds from Innovator - KJAN tracks the iShares Russell 2000 ETF while POCT tracks the Cboe S&P 500 15% Buffer Protect October Series Index. Both are passively managed. Over the past 5 years, KJAN returned 8.34%/yr vs 9.96%/yr for POCT. Their 0.73 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.79% expense ratio.

Performance

KJAN vs. POCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Small Cap Power Buffer ETF - January (KJAN) and Innovator U.S. Equity Power Buffer ETF October (POCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KJAN achieves a 11.06% return, which is significantly higher than POCT's 6.88% return.

KJAN

• 1D: 0.60%
• 1M: 0.88%
• 6M: 7.88%
• YTD: 11.06%
• 1Y: 22.78%
• 3Y*: 12.01%
• 5Y*: 8.34%
• 10Y*: —
• ALL TIME*: 8.59%

POCT

• 1D: 0.41%
• 1M: 1.23%
• 6M: 5.89%
• YTD: 6.88%
• 1Y: 12.76%
• 3Y*: 11.76%
• 5Y*: 9.96%
• 10Y*: —
• ALL TIME*: 8.90%

*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)
KJAN Innovator U.S. Small Cap Power Buffer ETF - January	$265.04K	$245.27K	$454.88K
POCT Innovator U.S. Equity Power Buffer ETF October	$1.65M	$1.91M	$3.35M

KJAN vs. POCT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KJAN Innovator U.S. Small Cap Power Buffer ETF - January	11.06%	10.90%	8.86%	14.71%	-7.69%	11.72%	8.49%
POCT Innovator U.S. Equity Power Buffer ETF October	6.88%	11.00%	9.54%	20.12%	-1.26%	9.46%	10.40%

Correlation

The correlation between KJAN and POCT is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.74
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020	0.73

The correlation between KJAN and POCT has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.

KJAN vs. POCT - Sectors Allocation Comparison

Sectors	KJAN	POCT
Healthcare	20.3%	9.1%
Financial Services	17.6%	11.7%
Technology	14.5%	37.9%
Industrials	14.1%	8.4%
Consumer Cyclical	9.2%	9.6%
Real Estate	6.7%	1.9%
Energy	5.5%	3.0%
Basic Materials	4.4%	1.7%
Utilities	2.8%	2.3%
Consumer Defensive	2.6%	4.6%
Communication Services	2.2%	10.0%

Return for Risk

KJAN vs. POCT — Risk / Return Rank

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

KJAN

KJAN Risk / Return Rank: 89
KJAN Sharpe Ratio Rank: 86
KJAN Sortino Ratio Rank: 89
KJAN Omega Ratio Rank: 87
KJAN Calmar Ratio Rank: 91
KJAN Martin Ratio Rank: 90

POCT

POCT Risk / Return Rank: 85
POCT Sharpe Ratio Rank: 84
POCT Sortino Ratio Rank: 86
POCT Omega Ratio Rank: 88
POCT Calmar Ratio Rank: 78
POCT Martin Ratio Rank: 90

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.

KJAN vs. POCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - January (KJAN) and Innovator U.S. Equity Power Buffer ETF October (POCT). 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.

	KJAN	POCT	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.06	+0.13
Sortino ratio: Return per unit of downside risk	3.25	2.97	+0.29
Omega ratio: Gain probability vs. loss probability	1.41	1.41	+0.01
Calmar ratio: Return relative to maximum drawdown	4.22	2.91	+1.31
Martin ratio: Return relative to average drawdown	15.30	14.61	+0.68

KJAN vs. POCT - Sharpe Ratio Comparison

The current KJAN Sharpe Ratio is 2.19, which is comparable to the POCT Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of KJAN and POCT, 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

KJAN vs. POCT - Drawdown Comparison

The maximum KJAN drawdown since its inception was -28.94%, which is greater than POCT's maximum drawdown of -18.80%. Use the drawdown chart below to compare losses from any high point for KJAN and POCT.

Drawdown Indicators

	KJAN	POCT	Difference
Max Drawdown Largest peak-to-trough decline	-28.94%	-18.80%	-10.14%
Max Drawdown (1Y) Largest decline over 1 year	-5.42%	-4.40%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	-16.83%	-10.22%	-6.61%
Max Drawdown (5Y) Largest decline over 5 years	-16.83%	-10.22%	-6.61%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.01%	-1.48%	-2.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.49%	0.87%	+0.62%

Volatility

KJAN vs. POCT - Volatility Comparison

Innovator U.S. Small Cap Power Buffer ETF - January (KJAN) and Innovator U.S. Equity Power Buffer ETF October (POCT) have volatilities of 1.46% and 1.52%, 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

	KJAN	POCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	1.52%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	6.43%	4.99%	+1.44%
Volatility (1Y) Calculated over the trailing 1-year period	10.45%	6.23%	+4.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.02%	8.00%	+5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.26%	10.15%	+5.11%

KJAN vs. POCT - Expense Ratio Comparison

Both KJAN and POCT have an expense ratio of 0.79%.

Dividends

KJAN vs. POCT - Dividend Comparison

Neither KJAN nor POCT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
KJAN Innovator U.S. Small Cap Power Buffer ETF - January	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
POCT Innovator U.S. Equity Power Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.21%

Frequently Asked Questions

Can I hold both KJAN and POCT in my portfolio?

KJAN and POCT have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KJAN or POCT?

POCT has higher volatility (1.52%) compared to KJAN (1.46%). In terms of maximum drawdown, KJAN dropped -28.94% vs POCT's -18.80%.

Which ETF is better, KJAN or POCT?

On 5-year performance, POCT leads with 9.96% vs 8.34% for KJAN. Both ETFs have the same 0.79% 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, KJAN or POCT?

Over the 5-year period, POCT has performed better with a 9.96% return vs 8.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KJAN or POCT?

KJAN and POCT have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, KJAN or POCT?

KJAN and POCT have nearly identical dividend yields, around 0.00%.

What is the main difference between KJAN and POCT?

KJAN tracks iShares Russell 2000 ETF, while POCT tracks Cboe S&P 500 15% Buffer Protect October Series Index.

Which has better risk-adjusted returns?

KJAN currently has the higher Sharpe Ratio (2.19 vs 2.06), 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.