NJAN vs. BAPR

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator Growth-100 Power Buffer ETF - January (NJAN) and Innovator U.S. Equity Buffer ETF - April (BAPR).

NJAN and BAPR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NJAN is a passively managed fund by Innovator that tracks the performance of the NASDAQ-100 Index. It was launched on Dec 31, 2019. BAPR is a passively managed fund by Innovator that tracks the performance of the Cboe S&P 500 Buffer Protect Index April. It was launched on Mar 29, 2019. Both NJAN and BAPR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

NJAN vs. BAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF - January (NJAN) and Innovator U.S. Equity Buffer ETF - April (BAPR). The values are adjusted to include any dividend payments, if applicable.

NJAN vs. BAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NJAN Innovator Growth-100 Power Buffer ETF - January	-2.82%	14.20%	15.35%	20.95%	-18.92%	11.55%	8.29%
BAPR Innovator U.S. Equity Buffer ETF - April	2.08%	8.28%	15.95%	23.16%	-7.04%	12.58%	5.62%

Returns By Period

In the year-to-date period, NJAN achieves a -2.82% return, which is significantly lower than BAPR's 2.08% return.

NJAN

• 1D: 1.72%
• 1M: -2.59%
• YTD: -2.82%
• 6M: 0.34%
• 1Y: 15.09%
• 3Y*: 12.08%
• 5Y*: 6.38%
• 10Y*: —

BAPR

• 1D: 2.58%
• 1M: 0.99%
• YTD: 2.08%
• 6M: 4.42%
• 1Y: 15.33%
• 3Y*: 13.43%
• 5Y*: 10.13%
• 10Y*: —

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

NJAN vs. BAPR - Expense Ratio Comparison

Both NJAN and BAPR have an expense ratio of 0.79%.

NJAN

Innovator Growth-100 Power Buffer ETF - January

BAPR

Innovator U.S. Equity Buffer ETF - April

Return for Risk

NJAN vs. BAPR — Risk / Return Rank

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

NJAN

NJAN Risk / Return Rank: 75
NJAN Sharpe Ratio Rank: 68
NJAN Sortino Ratio Rank: 73
NJAN Omega Ratio Rank: 80
NJAN Calmar Ratio Rank: 71
NJAN Martin Ratio Rank: 83

BAPR

BAPR Risk / Return Rank: 81
BAPR Sharpe Ratio Rank: 73
BAPR Sortino Ratio Rank: 79
BAPR Omega Ratio Rank: 92
BAPR Calmar Ratio Rank: 69
BAPR Martin Ratio Rank: 90

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.

NJAN vs. BAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - January (NJAN) and Innovator U.S. Equity Buffer ETF - April (BAPR). 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.

	NJAN	BAPR	Difference
Sharpe ratio Return per unit of total volatility	1.21	1.29	-0.08
Sortino ratio Return per unit of downside risk	1.87	1.99	-0.12
Omega ratio Gain probability vs. loss probability	1.31	1.40	-0.09
Calmar ratio Return relative to maximum drawdown	1.81	1.74	+0.07
Martin ratio Return relative to average drawdown	9.34	11.59	-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.

NJAN vs. BAPR - Sharpe Ratio Comparison

The current NJAN Sharpe Ratio is 1.21, which is comparable to the BAPR Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of NJAN and BAPR, 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

	NJAN	BAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	1.29	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.88	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.75	-0.22

Correlation

The correlation between NJAN and BAPR is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NJAN vs. BAPR - Dividend Comparison

Neither NJAN nor BAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

NJAN vs. BAPR - Drawdown Comparison

The maximum NJAN drawdown since its inception was -20.70%, smaller than the maximum BAPR drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for NJAN and BAPR.

Drawdown Indicators

	NJAN	BAPR	Difference
Max Drawdown Largest peak-to-trough decline	-20.70%	-23.91%	+3.21%
Max Drawdown (1Y) Largest decline over 1 year	-8.26%	-9.19%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	-20.70%	-15.58%	-5.12%
Current Drawdown Current decline from peak	-4.29%	0.00%	-4.29%
Average Drawdown Average peak-to-trough decline	-3.91%	-2.66%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	1.38%	+0.22%

Volatility

NJAN vs. BAPR - Volatility Comparison

Innovator Growth-100 Power Buffer ETF - January (NJAN) has a higher volatility of 3.72% compared to Innovator U.S. Equity Buffer ETF - April (BAPR) at 3.45%. This indicates that NJAN's price experiences larger fluctuations and is considered to be riskier than BAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NJAN	BAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	3.45%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	5.74%	4.26%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	11.90%	+0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.34%	11.54%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.06%	13.25%	-0.19%