NJAN vs. PJAN
Compare and contrast key facts about Innovator Growth-100 Power Buffer ETF - January (NJAN) and Innovator U.S. Equity Power Buffer ETF - January (PJAN).
NJAN and PJAN 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. PJAN is a passively managed fund by Innovator that tracks the performance of the Cboe S&P 500 15% Buffer Protect January Series Index. It was launched on Jan 2, 2019. Both NJAN and PJAN 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. PJAN - Performance Comparison
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NJAN vs. PJAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NJAN Innovator Growth-100 Power Buffer ETF - January | -1.97% | 14.20% | 15.35% | 20.95% | -18.92% | 11.55% | 8.29% |
PJAN Innovator U.S. Equity Power Buffer ETF - January | -1.66% | 11.29% | 13.45% | 18.18% | -5.29% | 8.80% | 7.34% |
Returns By Period
In the year-to-date period, NJAN achieves a -1.97% return, which is significantly lower than PJAN's -1.66% return.
NJAN
- 1D
- 0.88%
- 1M
- -1.77%
- YTD
- -1.97%
- 6M
- 1.14%
- 1Y
- 15.61%
- 3Y*
- 12.40%
- 5Y*
- 6.57%
- 10Y*
- —
PJAN
- 1D
- 0.24%
- 1M
- -2.16%
- YTD
- -1.66%
- 6M
- 0.95%
- 1Y
- 11.31%
- 3Y*
- 11.66%
- 5Y*
- 7.86%
- 10Y*
- —
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NJAN vs. PJAN - Expense Ratio Comparison
Both NJAN and PJAN have an expense ratio of 0.79%.
Return for Risk
NJAN vs. PJAN — Risk / Return Rank
NJAN
PJAN
NJAN vs. PJAN - 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 Power Buffer ETF - January (PJAN). 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 | PJAN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.25 | 1.15 | +0.10 |
Sortino ratioReturn per unit of downside risk | 1.92 | 1.74 | +0.19 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.29 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.95 | 1.57 | +0.38 |
Martin ratioReturn relative to average drawdown | 9.97 | 8.42 | +1.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NJAN | PJAN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.15 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.89 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.82 | -0.27 |
Correlation
The correlation between NJAN and PJAN is 0.83, 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. PJAN - Dividend Comparison
Neither NJAN nor PJAN has paid dividends to shareholders.
Drawdowns
NJAN vs. PJAN - Drawdown Comparison
The maximum NJAN drawdown since its inception was -20.70%, roughly equal to the maximum PJAN drawdown of -21.25%. Use the drawdown chart below to compare losses from any high point for NJAN and PJAN.
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Drawdown Indicators
| NJAN | PJAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.70% | -21.25% | +0.55% |
Max Drawdown (1Y)Largest decline over 1 year | -8.26% | -7.35% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -20.70% | -11.93% | -8.77% |
Current DrawdownCurrent decline from peak | -3.44% | -2.71% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -1.76% | -2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 1.37% | +0.25% |
Volatility
NJAN vs. PJAN - Volatility Comparison
Innovator Growth-100 Power Buffer ETF - January (NJAN) has a higher volatility of 3.83% compared to Innovator U.S. Equity Power Buffer ETF - January (PJAN) at 3.24%. This indicates that NJAN's price experiences larger fluctuations and is considered to be riskier than PJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NJAN | PJAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 3.24% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 5.80% | 4.60% | +1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.53% | 9.87% | +2.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.34% | 8.91% | +3.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.06% | 10.69% | +2.37% |