SPD vs. NJAN

Last updated Apr 2, 2026

Compare and contrast key facts about Simplify US Equity PLUS Downside Convexity ETF (SPD) and Innovator Growth-100 Power Buffer ETF - January (NJAN).

SPD and NJAN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPD is an actively managed fund by Simplify. It was launched on Sep 3, 2020. NJAN is a passively managed fund by Innovator that tracks the performance of the NASDAQ-100 Index. It was launched on Dec 31, 2019.

Performance

SPD vs. NJAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Downside Convexity ETF (SPD) and Innovator Growth-100 Power Buffer ETF - January (NJAN). The values are adjusted to include any dividend payments, if applicable.

SPD vs. NJAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPD Simplify US Equity PLUS Downside Convexity ETF	-6.56%	18.86%	17.49%	20.94%	-25.96%	24.81%	8.75%
NJAN Innovator Growth-100 Power Buffer ETF - January	-1.97%	14.20%	15.35%	20.95%	-18.92%	11.55%	2.52%

Returns By Period

In the year-to-date period, SPD achieves a -6.56% return, which is significantly lower than NJAN's -1.97% return.

SPD

• 1D: 0.59%
• 1M: -5.51%
• YTD: -6.56%
• 6M: -7.40%
• 1Y: 19.07%
• 3Y*: 14.25%
• 5Y*: 6.61%
• 10Y*: —

NJAN

• 1D: 0.88%
• 1M: -1.77%
• YTD: -1.97%
• 6M: 1.14%
• 1Y: 15.61%
• 3Y*: 12.40%
• 5Y*: 6.57%
• 10Y*: —

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

SPD vs. NJAN - Expense Ratio Comparison

SPD has a 0.28% expense ratio, which is lower than NJAN's 0.79% expense ratio.

NJAN

Innovator Growth-100 Power Buffer ETF - January

SPD

Simplify US Equity PLUS Downside Convexity ETF

Return for Risk

SPD vs. NJAN — Risk / Return Rank

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

SPD

SPD Risk / Return Rank: 54
SPD Sharpe Ratio Rank: 41
SPD Sortino Ratio Rank: 63
SPD Omega Ratio Rank: 54
SPD Calmar Ratio Rank: 61
SPD Martin Ratio Rank: 53

NJAN

NJAN Risk / Return Rank: 74
NJAN Sharpe Ratio Rank: 68
NJAN Sortino Ratio Rank: 73
NJAN Omega Ratio Rank: 79
NJAN Calmar Ratio Rank: 69
NJAN Martin Ratio Rank: 82

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.

SPD vs. NJAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Downside Convexity ETF (SPD) and Innovator Growth-100 Power Buffer ETF - January (NJAN). 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.

	SPD	NJAN	Difference
Sharpe ratio Return per unit of total volatility	0.81	1.25	-0.45
Sortino ratio Return per unit of downside risk	1.68	1.92	-0.25
Omega ratio Gain probability vs. loss probability	1.21	1.32	-0.11
Calmar ratio Return relative to maximum drawdown	1.64	1.95	-0.31
Martin ratio Return relative to average drawdown	5.36	9.97	-4.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPD vs. NJAN - Sharpe Ratio Comparison

The current SPD Sharpe Ratio is 0.81, which is lower than the NJAN Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of SPD and NJAN, 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

	SPD	NJAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	1.25	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.53	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.54	0.00

Correlation

The correlation between SPD and NJAN is 0.76, 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

SPD vs. NJAN - Dividend Comparison

SPD's dividend yield for the trailing twelve months is around 1.09%, while NJAN has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020
SPD Simplify US Equity PLUS Downside Convexity ETF	1.09%	0.97%	1.14%	1.91%	1.64%	0.88%	0.43%
NJAN Innovator Growth-100 Power Buffer ETF - January	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SPD vs. NJAN - Drawdown Comparison

The maximum SPD drawdown since its inception was -27.38%, which is greater than NJAN's maximum drawdown of -20.70%. Use the drawdown chart below to compare losses from any high point for SPD and NJAN.

Drawdown Indicators

	SPD	NJAN	Difference
Max Drawdown Largest peak-to-trough decline	-27.38%	-20.70%	-6.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	-8.26%	-3.64%
Max Drawdown (5Y) Largest decline over 5 years	-27.38%	-20.70%	-6.68%
Current Drawdown Current decline from peak	-9.94%	-3.44%	-6.50%
Average Drawdown Average peak-to-trough decline	-7.87%	-3.91%	-3.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	1.62%	+2.03%

Volatility

SPD vs. NJAN - Volatility Comparison

The current volatility for Simplify US Equity PLUS Downside Convexity ETF (SPD) is 3.33%, while Innovator Growth-100 Power Buffer ETF - January (NJAN) has a volatility of 3.83%. This indicates that SPD experiences smaller price fluctuations and is considered to be less risky than NJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPD	NJAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	3.83%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	9.46%	5.80%	+3.66%
Volatility (1Y) Calculated over the trailing 1-year period	23.76%	12.53%	+11.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.09%	12.34%	+3.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.08%	13.06%	+3.02%