KJAN vs. PSMR

Last updated Jun 4, 2026

KJAN (Innovator U.S. Small Cap Power Buffer ETF - January) and PSMR (Pacer Swan SOS Moderate (April) ETF) are both Defined Outcome funds. KJAN is passively managed, while PSMR is actively managed. Over the past 5 years, KJAN returned 7.61%/yr vs 8.52%/yr for PSMR. A 0.75 correlation means they provide meaningful diversification when combined. KJAN charges 0.79%/yr vs 0.61%/yr for PSMR.

Performance

KJAN vs. PSMR - 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 Pacer Swan SOS Moderate (April) ETF (PSMR). 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 KJAN having a 8.07% return and PSMR slightly lower at 7.68%.

KJAN

• 1D: -0.37%
• 1M: 1.57%
• YTD: 8.07%
• 6M: 7.35%
• 1Y: 21.94%
• 3Y*: 12.69%
• 5Y*: 7.61%
• 10Y*: —

PSMR

• 1D: -0.15%
• 1M: 1.54%
• YTD: 7.68%
• 6M: 8.38%
• 1Y: 14.83%
• 3Y*: 11.71%
• 5Y*: 8.52%
• 10Y*: —

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

KJAN vs. PSMR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KJAN Innovator U.S. Small Cap Power Buffer ETF - January	8.07%	10.90%	8.86%	14.71%	-7.69%	5.95%
PSMR Pacer Swan SOS Moderate (April) ETF	7.68%	6.74%	11.99%	16.85%	-4.11%	7.37%

Correlation

The correlation between KJAN and PSMR is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021	0.75

The correlation between KJAN and PSMR has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.

KJAN vs. PSMR - Sectors Allocation Comparison

Sectors	KJAN	PSMR
Industrials	17.5%	8.7%
Technology	16.9%	33.1%
Healthcare	16.5%	9.8%
Financial Services	15.9%	12.3%
Consumer Cyclical	8.4%	10.1%
Real Estate	6.2%	2.0%
Energy	6.2%	3.5%
Basic Materials	4.8%	1.9%
Utilities	2.9%	2.5%
Communication Services	2.5%	10.7%
Consumer Defensive	2.4%	5.4%

Return for Risk

KJAN vs. PSMR — Risk / Return Rank

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

KJAN

KJAN Risk / Return Rank: 69
KJAN Sharpe Ratio Rank: 61
KJAN Sortino Ratio Rank: 66
KJAN Omega Ratio Rank: 61
KJAN Calmar Ratio Rank: 79
KJAN Martin Ratio Rank: 76

PSMR

PSMR Risk / Return Rank: 97
PSMR Sharpe Ratio Rank: 96
PSMR Sortino Ratio Rank: 98
PSMR Omega Ratio Rank: 97
PSMR Calmar Ratio Rank: 98
PSMR Martin Ratio Rank: 98

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.

KJAN vs. PSMR - 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 Pacer Swan SOS Moderate (April) ETF (PSMR). 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.

	KJAN	PSMR	Difference
Sharpe ratio: Return per unit of total volatility	2.05	4.23	-2.18
Sortino ratio: Return per unit of downside risk	3.01	7.28	-4.27
Omega ratio: Gain probability vs. loss probability	1.37	1.96	-0.59
Calmar ratio: Return relative to maximum drawdown	4.07	15.03	-10.97
Martin ratio: Return relative to average drawdown	14.31	73.58	-59.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KJAN vs. PSMR - Sharpe Ratio Comparison

The current KJAN Sharpe Ratio is 2.05, which is lower than the PSMR Sharpe Ratio of 4.23. The chart below compares the historical Sharpe Ratios of KJAN and PSMR, 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

	KJAN	PSMR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	4.23	-2.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	1.01	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	1.05	-0.51

Drawdowns

KJAN vs. PSMR - Drawdown Comparison

The maximum KJAN drawdown since its inception was -28.94%, which is greater than PSMR's maximum drawdown of -11.78%. Use the drawdown chart below to compare losses from any high point for KJAN and PSMR.

Drawdown Indicators

	KJAN	PSMR	Difference
Max Drawdown Largest peak-to-trough decline	-28.94%	-11.78%	-17.16%
Max Drawdown (1Y) Largest decline over 1 year	-5.42%	-0.99%	-4.43%
Max Drawdown (3Y) Largest decline over 3 years	-16.83%	-11.78%	-5.05%
Max Drawdown (5Y) Largest decline over 5 years	-16.83%	-11.78%	-5.05%
Current Drawdown Current decline from peak	-0.46%	-0.15%	-0.31%
Average Drawdown Average peak-to-trough decline	-4.11%	-1.67%	-2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	0.20%	+1.34%

Volatility

KJAN vs. PSMR - Volatility Comparison

Innovator U.S. Small Cap Power Buffer ETF - January (KJAN) has a higher volatility of 1.96% compared to Pacer Swan SOS Moderate (April) ETF (PSMR) at 0.71%. This indicates that KJAN's price experiences larger fluctuations and is considered to be riskier than PSMR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KJAN	PSMR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.96%	0.71%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	6.99%	2.48%	+4.51%
Volatility (1Y) Calculated over the trailing 1-year period	10.78%	3.53%	+7.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.03%	8.48%	+4.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.42%	8.41%	+7.01%

KJAN vs. PSMR - Expense Ratio Comparison

KJAN has a 0.79% expense ratio, which is higher than PSMR's 0.61% expense ratio.

Dividends

KJAN vs. PSMR - Dividend Comparison

Neither KJAN nor PSMR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both KJAN and PSMR in my portfolio?

KJAN and PSMR have a correlation of 0.67, 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 PSMR?

KJAN has higher volatility (1.96%) compared to PSMR (0.71%). In terms of maximum drawdown, KJAN dropped -28.94% vs PSMR's -11.78%.

Which ETF is better, KJAN or PSMR?

On 5-year performance, PSMR leads with 8.52% vs 7.61% for KJAN. On fees, PSMR is cheaper at 0.61% per year. On volatility, PSMR has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KJAN or PSMR?

Over the 5-year period, PSMR has performed better with a 8.52% return vs 7.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KJAN or PSMR?

PSMR is cheaper with a 0.61% expense ratio, compared with 0.79% for KJAN.

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

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

What is the main difference between KJAN and PSMR?

They also come from different issuers: Innovator and Pacer. Their fees differ too: 0.79% for KJAN and 0.61% for PSMR.

Which has better risk-adjusted returns?

PSMR currently has the higher Sharpe Ratio (4.23 vs 2.05), 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.