PSTP vs. JANB

Last updated Jul 2, 2026

PSTP (Innovator Power Buffer Step-Up Strategy ETF) and JANB (Aptus January Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. PSTP charges 0.89%/yr vs 0.25%/yr for JANB.

Performance

PSTP vs. JANB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Power Buffer Step-Up Strategy ETF (PSTP) and Aptus January Buffer ETF (JANB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSTP achieves a 3.91% return, which is significantly lower than JANB's 6.15% return.

PSTP

• 1D: -0.14%
• 1M: -0.25%
• 6M: 3.91%
• YTD: 3.91%
• 1Y: 9.99%
• 3Y*: 10.39%
• 5Y*: —
• 10Y*: —

JANB

• 1D: -0.01%
• 1M: -0.08%
• 6M: 6.15%
• YTD: 6.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSTP vs. JANB - Yearly Performance Comparison

	2026 (YTD)	2025
PSTP Innovator Power Buffer Step-Up Strategy ETF	3.91%	1.86%
JANB Aptus January Buffer ETF	6.15%	2.76%

Correlation

The correlation between PSTP and JANB is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025	0.93

Return for Risk

PSTP vs. JANB — Risk / Return Rank

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

PSTP

PSTP Risk / Return Rank: 53
PSTP Sharpe Ratio Rank: 53
PSTP Sortino Ratio Rank: 53
PSTP Omega Ratio Rank: 53
PSTP Calmar Ratio Rank: 46
PSTP Martin Ratio Rank: 62

JANB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PSTP vs. JANB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Power Buffer Step-Up Strategy ETF (PSTP) and Aptus January Buffer ETF (JANB). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PSTP	JANB	Difference
Sharpe ratio: Return per unit of total volatility	1.53	—	—
Sortino ratio: Return per unit of downside risk	2.19	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	1.96	—	—
Martin ratio: Return relative to average drawdown	9.29	—	—

Drawdowns

PSTP vs. JANB - Drawdown Comparison

The maximum PSTP drawdown since its inception was -12.46%, which is greater than JANB's maximum drawdown of -6.52%. Use the drawdown chart below to compare losses from any high point for PSTP and JANB.

Drawdown Indicators

	PSTP	JANB	Difference
Max Drawdown Largest peak-to-trough decline	-12.46%	-6.52%	-5.94%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-10.38%	—	—
Current Drawdown Current decline from peak	-0.33%	-0.19%	-0.14%
Average Drawdown Average peak-to-trough decline	-2.39%	-1.09%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	—	—

Volatility

Volatility by Period

	PSTP	JANB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.56%	7.50%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.22%	7.50%	+1.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.22%	7.50%	+1.72%

PSTP vs. JANB - Expense Ratio Comparison

PSTP has a 0.89% expense ratio, which is higher than JANB's 0.25% expense ratio.

Dividends

PSTP vs. JANB - Dividend Comparison

Neither PSTP nor JANB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PSTP and JANB in my portfolio?

With a correlation of 0.93, PSTP and JANB 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.

Which ETF is better, PSTP or JANB?

On fees, JANB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PSTP or JANB?

JANB is cheaper with a 0.25% expense ratio, compared with 0.89% for PSTP.

Which ETF pays a higher dividend yield, PSTP or JANB?

PSTP and JANB have nearly identical dividend yields, around 0.00%.

What is the main difference between PSTP and JANB?

They also come from different issuers: Innovator and Aptus Capital Advisors. Their fees differ too: 0.89% for PSTP and 0.25% for JANB.