KJAN vs. ZOCT

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator U.S. Small Cap Power Buffer ETF - January (KJAN) and Innovator Equity Defined Protection ETF - 1 Yr October (ZOCT).

KJAN and ZOCT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KJAN is a passively managed fund by Innovator that tracks the performance of the iShares Russell 2000 ETF. It was launched on Dec 31, 2019. ZOCT is an actively managed fund by Innovator. It was launched on Oct 1, 2024.

Performance

KJAN vs. ZOCT - 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 Equity Defined Protection ETF - 1 Yr October (ZOCT). The values are adjusted to include any dividend payments, if applicable.

KJAN vs. ZOCT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KJAN Innovator U.S. Small Cap Power Buffer ETF - January	1.03%	10.90%	1.55%
ZOCT Innovator Equity Defined Protection ETF - 1 Yr October	-0.15%	6.24%	0.68%

Returns By Period

In the year-to-date period, KJAN achieves a 1.03% return, which is significantly higher than ZOCT's -0.15% return.

KJAN

• 1D: 0.29%
• 1M: -2.44%
• YTD: 1.03%
• 6M: 3.54%
• 1Y: 16.76%
• 3Y*: 10.84%
• 5Y*: 6.47%
• 10Y*: —

ZOCT

• 1D: 0.18%
• 1M: -0.64%
• YTD: -0.15%
• 6M: 0.66%
• 1Y: 6.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KJAN vs. ZOCT - Expense Ratio Comparison

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

KJAN

Innovator U.S. Small Cap Power Buffer ETF - January

ZOCT

Innovator Equity Defined Protection ETF - 1 Yr October

Return for Risk

KJAN vs. ZOCT — Risk / Return Rank

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

KJAN

KJAN Risk / Return Rank: 66
KJAN Sharpe Ratio Rank: 65
KJAN Sortino Ratio Rank: 67
KJAN Omega Ratio Rank: 60
KJAN Calmar Ratio Rank: 69
KJAN Martin Ratio Rank: 72

ZOCT

ZOCT Risk / Return Rank: 92
ZOCT Sharpe Ratio Rank: 89
ZOCT Sortino Ratio Rank: 94
ZOCT Omega Ratio Rank: 94
ZOCT Calmar Ratio Rank: 90
ZOCT Martin Ratio Rank: 93

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. ZOCT - 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 Defined Protection ETF - 1 Yr October (ZOCT). 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	ZOCT	Difference
Sharpe ratio Return per unit of total volatility	1.20	2.03	-0.83
Sortino ratio Return per unit of downside risk	1.77	2.99	-1.22
Omega ratio Gain probability vs. loss probability	1.23	1.45	-0.22
Calmar ratio Return relative to maximum drawdown	1.95	3.43	-1.47
Martin ratio Return relative to average drawdown	8.28	15.10	-6.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KJAN vs. ZOCT - Sharpe Ratio Comparison

The current KJAN Sharpe Ratio is 1.20, which is lower than the ZOCT Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of KJAN and ZOCT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KJAN	ZOCT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	2.03	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	1.44	-0.96

Correlation

The correlation between KJAN and ZOCT is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

KJAN vs. ZOCT - Dividend Comparison

Neither KJAN nor ZOCT has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

KJAN vs. ZOCT - Drawdown Comparison

The maximum KJAN drawdown since its inception was -28.94%, which is greater than ZOCT's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for KJAN and ZOCT.

Drawdown Indicators

	KJAN	ZOCT	Difference
Max Drawdown Largest peak-to-trough decline	-28.94%	-3.18%	-25.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.74%	-1.91%	-6.83%
Max Drawdown (5Y) Largest decline over 5 years	-16.83%	—	—
Current Drawdown Current decline from peak	-3.11%	-0.77%	-2.34%
Average Drawdown Average peak-to-trough decline	-4.21%	-0.37%	-3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	0.43%	+1.63%

Volatility

KJAN vs. ZOCT - Volatility Comparison

Innovator U.S. Small Cap Power Buffer ETF - January (KJAN) has a higher volatility of 4.14% compared to Innovator Equity Defined Protection ETF - 1 Yr October (ZOCT) at 1.07%. This indicates that KJAN's price experiences larger fluctuations and is considered to be riskier than ZOCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KJAN	ZOCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	1.07%	+3.07%
Volatility (6M) Calculated over the trailing 6-month period	8.66%	1.70%	+6.96%
Volatility (1Y) Calculated over the trailing 1-year period	14.03%	3.20%	+10.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.04%	3.14%	+9.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.59%	3.14%	+12.45%