ZAPR vs. JANB
ZAPR (Innovator Equity Defined Protection ETF - 1 Yr April) and JANB (Aptus January Buffer ETF) are both Defined Outcome funds. Both are actively managed. A 0.57 correlation means they provide meaningful diversification when combined. ZAPR charges 0.79%/yr vs 0.25%/yr for JANB.
Performance
ZAPR vs. JANB - Performance Comparison
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Returns By Period
In the year-to-date period, ZAPR achieves a 3.01% return, which is significantly lower than JANB's 5.32% return.
ZAPR
- 1D
- -0.13%
- 1M
- -0.06%
- YTD
- 3.01%
- 6M
- 3.01%
- 1Y
- 6.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JANB
- 1D
- -0.50%
- 1M
- -0.15%
- YTD
- 5.32%
- 6M
- 5.27%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZAPR vs. JANB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZAPR Innovator Equity Defined Protection ETF - 1 Yr April | 3.01% | 1.18% |
JANB Aptus January Buffer ETF | 5.32% | 2.76% |
Correlation
The correlation between ZAPR and JANB is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025 | 0.57 |
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Return for Risk
ZAPR vs. JANB — Risk / Return Rank
ZAPR
JANB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZAPR vs. JANB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr April (ZAPR) 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.
| ZAPR | JANB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 2.13 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 16.26 | — | — |
| Martin ratioReturn relative to average drawdown | 73.32 | — | — |
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Drawdowns
ZAPR vs. JANB - Drawdown Comparison
The maximum ZAPR drawdown since its inception was -1.72%, smaller than the maximum JANB drawdown of -6.52%. Use the drawdown chart below to compare losses from any high point for ZAPR and JANB.
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Drawdown Indicators
| ZAPR | JANB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.72% | -6.52% | +4.80% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | -0.97% | +0.67% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -1.10% | +1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | — | — |
Volatility
ZAPR vs. JANB - Volatility Comparison
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Volatility by Period
| ZAPR | JANB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.11% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.48% | 7.51% | -6.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.49% | 7.51% | -5.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.49% | 7.51% | -5.02% |
ZAPR vs. JANB - Expense Ratio Comparison
ZAPR has a 0.79% expense ratio, which is higher than JANB's 0.25% expense ratio.
Dividends
ZAPR vs. JANB - Dividend Comparison
Neither ZAPR nor JANB has paid dividends to shareholders.
Frequently Asked Questions
ZAPR and JANB have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
JANB is cheaper with a 0.25% expense ratio, compared with 0.79% for ZAPR.
ZAPR and JANB have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Innovator and Aptus Capital Advisors. Their fees differ too: 0.79% for ZAPR and 0.25% for JANB.
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