LJAN vs. JANP

Last updated Jun 6, 2026

LJAN (Innovator Premium Income 15 Buffer ETF - January) and JANP (PGIM US Large-Cap Buffer 12 ETF - January) are both Options Trading funds. Both are actively managed. Over the past year, LJAN returned 5.76% vs 17.10% for JANP. A 0.73 correlation means they provide meaningful diversification when combined. LJAN charges 0.79%/yr vs 0.50%/yr for JANP.

Performance

LJAN vs. JANP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 15 Buffer ETF - January (LJAN) and PGIM US Large-Cap Buffer 12 ETF - January (JANP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LJAN achieves a 2.39% return, which is significantly lower than JANP's 5.17% return.

LJAN

• 1D: -0.26%
• 1M: 0.41%
• YTD: 2.39%
• 6M: 2.45%
• 1Y: 5.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JANP

• 1D: -1.04%
• 1M: 0.44%
• YTD: 5.17%
• 6M: 6.08%
• 1Y: 17.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LJAN vs. JANP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LJAN Innovator Premium Income 15 Buffer ETF - January	2.39%	5.34%	5.92%
JANP PGIM US Large-Cap Buffer 12 ETF - January	5.17%	13.33%	15.74%

Correlation

The correlation between LJAN and JANP is 0.70, 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	0.70
Correlation (All Time) Calculated using the full available price history since Jan 3, 2024	0.73

The correlation between LJAN and JANP has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.

Return for Risk

LJAN vs. JANP — Risk / Return Rank

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

LJAN

LJAN Risk / Return Rank: 81
LJAN Sharpe Ratio Rank: 76
LJAN Sortino Ratio Rank: 85
LJAN Omega Ratio Rank: 89
LJAN Calmar Ratio Rank: 68
LJAN Martin Ratio Rank: 89

JANP

JANP Risk / Return Rank: 82
JANP Sharpe Ratio Rank: 82
JANP Sortino Ratio Rank: 84
JANP Omega Ratio Rank: 88
JANP Calmar Ratio Rank: 69
JANP Martin Ratio Rank: 85

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.

LJAN vs. JANP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 15 Buffer ETF - January (LJAN) and PGIM US Large-Cap Buffer 12 ETF - January (JANP). 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.

	LJAN	JANP	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.51	-0.21
Sortino ratio: Return per unit of downside risk	3.57	3.58	0.00
Omega ratio: Gain probability vs. loss probability	1.53	1.52	+0.02
Calmar ratio: Return relative to maximum drawdown	3.16	3.23	-0.07
Martin ratio: Return relative to average drawdown	19.06	16.80	+2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LJAN vs. JANP - Sharpe Ratio Comparison

The current LJAN Sharpe Ratio is 2.30, which is comparable to the JANP Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of LJAN and JANP, 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

	LJAN	JANP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.51	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	1.42	1.57	-0.15

Drawdowns

LJAN vs. JANP - Drawdown Comparison

The maximum LJAN drawdown since its inception was -4.83%, smaller than the maximum JANP drawdown of -12.18%. Use the drawdown chart below to compare losses from any high point for LJAN and JANP.

Drawdown Indicators

	LJAN	JANP	Difference
Max Drawdown Largest peak-to-trough decline	-4.83%	-12.18%	+7.35%
Max Drawdown (1Y) Largest decline over 1 year	-1.83%	-5.32%	+3.49%
Current Drawdown Current decline from peak	-0.26%	-1.07%	+0.81%
Average Drawdown Average peak-to-trough decline	-0.18%	-0.90%	+0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	1.02%	-0.72%

Volatility

LJAN vs. JANP - Volatility Comparison

The current volatility for Innovator Premium Income 15 Buffer ETF - January (LJAN) is 0.38%, while PGIM US Large-Cap Buffer 12 ETF - January (JANP) has a volatility of 1.67%. This indicates that LJAN experiences smaller price fluctuations and is considered to be less risky than JANP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LJAN	JANP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.38%	1.67%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	2.30%	5.63%	-3.33%
Volatility (1Y) Calculated over the trailing 1-year period	2.52%	6.85%	-4.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.99%	9.08%	-5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.99%	9.08%	-5.09%

LJAN vs. JANP - Expense Ratio Comparison

LJAN has a 0.79% expense ratio, which is higher than JANP's 0.50% expense ratio.

Dividends

LJAN vs. JANP - Dividend Comparison

LJAN's dividend yield for the trailing twelve months is around 4.98%, while JANP has not paid dividends to shareholders.

Position	TTM	2025	2024
JANP PGIM US Large-Cap Buffer 12 ETF - January	0.00%	0.00%	0.00%
LJAN Innovator Premium Income 15 Buffer ETF - January	4.98%	5.08%	5.59%

Frequently Asked Questions

Can I hold both LJAN and JANP in my portfolio?

LJAN and JANP have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LJAN or JANP?

JANP has higher volatility (1.67%) compared to LJAN (0.38%). In terms of maximum drawdown, LJAN dropped -4.83% vs JANP's -12.18%.

Which ETF is better, LJAN or JANP?

On 1-year performance, JANP leads with 17.10% vs 5.76% for LJAN. On fees, JANP is cheaper at 0.50% per year. On volatility, LJAN has been the lower-risk option at 0.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LJAN or JANP?

Over the 1-year period, JANP has performed better with a 17.10% return vs 5.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LJAN or JANP?

JANP is cheaper with a 0.50% expense ratio, compared with 0.79% for LJAN.

Which ETF pays a higher dividend yield, LJAN or JANP?

LJAN has the higher dividend yield at 4.98%, compared with 0.00% for JANP.

What is the main difference between LJAN and JANP?

They also come from different issuers: Innovator and PGIM. Their fees differ too: 0.79% for LJAN and 0.50% for JANP.

Which has better risk-adjusted returns?

JANP currently has the higher Sharpe Ratio (2.51 vs 2.30), 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.