PJAN vs. VTI
PJAN (Innovator U.S. Equity Power Buffer ETF - January) and VTI (Vanguard Total Stock Market ETF) are both exchange-traded funds - PJAN is a Defined Outcome fund tracking the Cboe S&P 500 15% Buffer Protect January Series Index, while VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index. Both are passively managed. Over the past 5 years, PJAN returned 8.92%/yr vs 12.69%/yr for VTI. Their correlation of 0.90 suggests significant overlap in exposure. PJAN charges 0.79%/yr vs 0.03%/yr for VTI.
Performance
PJAN vs. VTI - Performance Comparison
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Returns By Period
In the year-to-date period, PJAN achieves a 5.13% return, which is significantly lower than VTI's 11.20% return.
PJAN
- 1D
- -0.26%
- 1M
- 1.94%
- YTD
- 5.13%
- 6M
- 5.96%
- 1Y
- 14.71%
- 3Y*
- 12.96%
- 5Y*
- 8.92%
- 10Y*
- —
VTI
- 1D
- -0.72%
- 1M
- 4.99%
- YTD
- 11.20%
- 6M
- 11.09%
- 1Y
- 28.18%
- 3Y*
- 22.07%
- 5Y*
- 12.69%
- 10Y*
- 15.05%
PJAN vs. VTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PJAN Innovator U.S. Equity Power Buffer ETF - January | 5.13% | 11.29% | 13.45% | 18.18% | -5.29% | 8.80% | 7.68% | 12.34% |
VTI Vanguard Total Stock Market ETF | 11.20% | 17.10% | 23.81% | 26.05% | -19.52% | 25.68% | 21.08% | 30.57% |
Correlation
The correlation between PJAN and VTI is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2019 | 0.90 |
The correlation between PJAN and VTI has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
PJAN vs. VTI — Risk / Return Rank
PJAN
VTI
PJAN vs. VTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - January (PJAN) and Vanguard Total Stock Market ETF (VTI). 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.
| PJAN | VTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.42 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 3.17 | +0.02 |
| Martin ratioReturn relative to average drawdown | 17.03 | 14.62 | +2.41 |
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
| PJAN | VTI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.55 | 2.33 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.00 | 0.73 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.82 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | 0.51 | +0.39 |
Drawdowns
PJAN vs. VTI - Drawdown Comparison
The maximum PJAN drawdown since its inception was -21.25%, smaller than the maximum VTI drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for PJAN and VTI.
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Drawdown Indicators
| PJAN | VTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.25% | -55.45% | +34.20% |
Max Drawdown (1Y)Largest decline over 1 year | -4.63% | -8.92% | +4.29% |
Max Drawdown (3Y)Largest decline over 3 years | -10.49% | -19.30% | +8.81% |
Max Drawdown (5Y)Largest decline over 5 years | -11.93% | -25.36% | +13.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.00% | — |
Current DrawdownCurrent decline from peak | -0.26% | -0.72% | +0.46% |
Average DrawdownAverage peak-to-trough decline | -1.73% | -8.03% | +6.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 1.93% | -1.06% |
Volatility
PJAN vs. VTI - Volatility Comparison
The current volatility for Innovator U.S. Equity Power Buffer ETF - January (PJAN) is 1.07%, while Vanguard Total Stock Market ETF (VTI) has a volatility of 2.96%. This indicates that PJAN experiences smaller price fluctuations and is considered to be less risky than VTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJAN | VTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 2.96% | -1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 4.71% | 9.13% | -4.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 12.17% | -6.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.93% | 17.40% | -8.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.60% | 18.30% | -7.70% |
PJAN vs. VTI - Expense Ratio Comparison
PJAN has a 0.79% expense ratio, which is higher than VTI's 0.03% expense ratio.
Dividends
PJAN vs. VTI - Dividend Comparison
PJAN has not paid dividends to shareholders, while VTI's dividend yield for the trailing twelve months is around 1.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PJAN Innovator U.S. Equity Power Buffer ETF - January | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTI Vanguard Total Stock Market ETF | 1.01% | 1.12% | 1.27% | 1.44% | 1.66% | 1.21% | 1.42% | 1.78% | 2.04% | 1.71% | 1.92% | 1.98% |
Frequently Asked Questions
With a correlation of 0.92, PJAN and VTI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VTI has higher volatility (2.96%) compared to PJAN (1.07%). In terms of maximum drawdown, PJAN dropped -21.25% vs VTI's -55.45%.
On 5-year performance, VTI leads with 12.69% vs 8.92% for PJAN. On fees, VTI is cheaper at 0.03% per year. On volatility, PJAN has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VTI has performed better with a 12.69% return vs 8.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTI is cheaper with a 0.03% expense ratio, compared with 0.79% for PJAN.
VTI has the higher dividend yield at 1.01%, compared with 0.00% for PJAN.
PJAN is categorized as Defined Outcome, while VTI is Large Cap Blend Equities. PJAN tracks Cboe S&P 500 15% Buffer Protect January Series Index, while VTI tracks CRSP US Total Market Index. They also come from different issuers: Innovator and Vanguard. Their fees differ too: 0.79% for PJAN and 0.03% for VTI.
PJAN currently has the higher Sharpe Ratio (2.55 vs 2.33), 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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