KJAN vs. SFLR
KJAN (Innovator U.S. Small Cap Power Buffer ETF - January) and SFLR (Innovator Equity Managed Floor ETF) are both exchange-traded funds - KJAN is a Defined Outcome fund tracking the iShares Russell 2000 ETF, while SFLR is a Options Trading fund actively managed by Innovator. KJAN is passively managed, while SFLR is actively managed. Over the past 3 years, KJAN returned 13.34%/yr vs 14.89%/yr for SFLR. A 0.72 correlation means they provide meaningful diversification when combined. KJAN charges 0.79%/yr vs 0.89%/yr for SFLR.
Performance
KJAN vs. SFLR - Performance Comparison
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Returns By Period
In the year-to-date period, KJAN achieves a 9.64% return, which is significantly higher than SFLR's 3.18% return.
KJAN
- 1D
- 0.31%
- 1M
- 1.16%
- YTD
- 9.64%
- 6M
- 6.94%
- 1Y
- 22.04%
- 3Y*
- 13.34%
- 5Y*
- 7.72%
- 10Y*
- —
SFLR
- 1D
- -0.11%
- 1M
- -1.40%
- YTD
- 3.18%
- 6M
- 2.58%
- 1Y
- 14.42%
- 3Y*
- 14.89%
- 5Y*
- —
- 10Y*
- —
KJAN vs. SFLR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
KJAN Innovator U.S. Small Cap Power Buffer ETF - January | 9.64% | 10.90% | 8.86% | 14.71% | -0.34% |
SFLR Innovator Equity Managed Floor ETF | 3.18% | 13.29% | 19.99% | 21.20% | 0.42% |
Correlation
The correlation between KJAN and SFLR is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2022 | 0.72 |
The correlation between KJAN and SFLR has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.
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Return for Risk
KJAN vs. SFLR — Risk / Return Rank
KJAN
SFLR
KJAN vs. SFLR - 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 Equity Managed Floor ETF (SFLR). 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 | SFLR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.28 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 2.13 | +1.95 |
| Martin ratioReturn relative to average drawdown | 14.41 | 8.27 | +6.15 |
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Drawdowns
KJAN vs. SFLR - Drawdown Comparison
The maximum KJAN drawdown since its inception was -28.94%, which is greater than SFLR's maximum drawdown of -12.13%. Use the drawdown chart below to compare losses from any high point for KJAN and SFLR.
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Drawdown Indicators
| KJAN | SFLR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.94% | -12.13% | -16.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -6.79% | +1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -16.83% | -12.13% | -4.70% |
Max Drawdown (5Y)Largest decline over 5 years | -16.83% | — | — |
Current DrawdownCurrent decline from peak | -0.05% | -2.84% | +2.79% |
Average DrawdownAverage peak-to-trough decline | -4.08% | -1.75% | -2.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.75% | -0.22% |
Volatility
KJAN vs. SFLR - Volatility Comparison
The current volatility for Innovator U.S. Small Cap Power Buffer ETF - January (KJAN) is 2.31%, while Innovator Equity Managed Floor ETF (SFLR) has a volatility of 4.31%. This indicates that KJAN experiences smaller price fluctuations and is considered to be less risky than SFLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KJAN | SFLR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 4.31% | -2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.70% | 7.46% | -0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.79% | 9.68% | +1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.06% | 10.31% | +2.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.37% | 10.31% | +5.06% |
KJAN vs. SFLR - Expense Ratio Comparison
KJAN has a 0.79% expense ratio, which is lower than SFLR's 0.89% expense ratio.
Dividends
KJAN vs. SFLR - Dividend Comparison
KJAN has not paid dividends to shareholders, while SFLR's dividend yield for the trailing twelve months is around 0.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
KJAN Innovator U.S. Small Cap Power Buffer ETF - January | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SFLR Innovator Equity Managed Floor ETF | 0.33% | 0.33% | 0.42% | 1.16% | 0.06% |
Frequently Asked Questions
KJAN and SFLR have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SFLR has higher volatility (4.31%) compared to KJAN (2.31%). In terms of maximum drawdown, KJAN dropped -28.94% vs SFLR's -12.13%.
On 3-year performance, SFLR leads with 14.89% vs 13.34% for KJAN. On fees, KJAN is cheaper at 0.79% per year. On volatility, KJAN has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SFLR has performed better with a 14.89% return vs 13.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KJAN is cheaper with a 0.79% expense ratio, compared with 0.89% for SFLR.
SFLR has the higher dividend yield at 0.33%, compared with 0.00% for KJAN.
KJAN is categorized as Defined Outcome, while SFLR is Options Trading. Their fees differ too: 0.79% for KJAN and 0.89% for SFLR.
KJAN currently has the higher Sharpe Ratio (2.05 vs 1.50), 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.
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