ZJAN vs. POCT

Last updated Jun 4, 2026

ZJAN (Innovator Equity Defined Protection ETF - 1 Yr January) and POCT (Innovator U.S. Equity Power Buffer ETF October) are both Defined Outcome funds from Innovator. ZJAN is actively managed, while POCT is passively managed. Over the past year, ZJAN returned 7.49% vs 14.36% for POCT. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

ZJAN vs. POCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 1 Yr January (ZJAN) and Innovator U.S. Equity Power Buffer ETF October (POCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZJAN achieves a 2.27% return, which is significantly lower than POCT's 5.33% return.

ZJAN

• 1D: -0.05%
• 1M: 0.76%
• YTD: 2.27%
• 6M: 2.87%
• 1Y: 7.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

POCT

• 1D: -0.20%
• 1M: 2.01%
• YTD: 5.33%
• 6M: 5.92%
• 1Y: 14.36%
• 3Y*: 12.17%
• 5Y*: 9.82%
• 10Y*: —

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

ZJAN vs. POCT - Yearly Performance Comparison

	2026 (YTD)	2025
ZJAN Innovator Equity Defined Protection ETF - 1 Yr January	2.27%	6.79%
POCT Innovator U.S. Equity Power Buffer ETF October	5.33%	11.27%

Correlation

The correlation between ZJAN and POCT is 0.81, 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	0.81
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025	0.86

The correlation between ZJAN and POCT has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

Return for Risk

ZJAN vs. POCT — Risk / Return Rank

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

ZJAN

ZJAN Risk / Return Rank: 94
ZJAN Sharpe Ratio Rank: 94
ZJAN Sortino Ratio Rank: 96
ZJAN Omega Ratio Rank: 96
ZJAN Calmar Ratio Rank: 90
ZJAN Martin Ratio Rank: 95

POCT

POCT Risk / Return Rank: 75
POCT Sharpe Ratio Rank: 71
POCT Sortino Ratio Rank: 74
POCT Omega Ratio Rank: 78
POCT Calmar Ratio Rank: 66
POCT Martin Ratio Rank: 83

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.

ZJAN vs. POCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr January (ZJAN) and Innovator U.S. Equity Power Buffer ETF October (POCT). 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.

	ZJAN	POCT	Difference
Sharpe ratio: Return per unit of total volatility	3.70	2.35	+1.36
Sortino ratio: Return per unit of downside risk	5.70	3.38	+2.32
Omega ratio: Gain probability vs. loss probability	1.83	1.47	+0.36
Calmar ratio: Return relative to maximum drawdown	5.52	3.28	+2.24
Martin ratio: Return relative to average drawdown	28.73	16.84	+11.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZJAN vs. POCT - Sharpe Ratio Comparison

The current ZJAN Sharpe Ratio is 3.70, which is higher than the POCT Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of ZJAN and POCT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZJAN	POCT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.70	2.35	+1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.18	0.87	+1.31

Drawdowns

ZJAN vs. POCT - Drawdown Comparison

The maximum ZJAN drawdown since its inception was -3.20%, smaller than the maximum POCT drawdown of -18.80%. Use the drawdown chart below to compare losses from any high point for ZJAN and POCT.

Drawdown Indicators

	ZJAN	POCT	Difference
Max Drawdown Largest peak-to-trough decline	-3.20%	-18.80%	+15.60%
Max Drawdown (1Y) Largest decline over 1 year	-1.36%	-4.40%	+3.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.22%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-10.22%	—
Current Drawdown Current decline from peak	-0.05%	-0.20%	+0.15%
Average Drawdown Average peak-to-trough decline	-0.35%	-1.50%	+1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	0.86%	-0.60%

Volatility

ZJAN vs. POCT - Volatility Comparison

The current volatility for Innovator Equity Defined Protection ETF - 1 Yr January (ZJAN) is 0.39%, while Innovator U.S. Equity Power Buffer ETF October (POCT) has a volatility of 0.94%. This indicates that ZJAN experiences smaller price fluctuations and is considered to be less risky than POCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZJAN	POCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.39%	0.94%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	1.45%	4.77%	-3.32%
Volatility (1Y) Calculated over the trailing 1-year period	2.04%	6.17%	-4.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.97%	7.94%	-4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.97%	10.22%	-7.25%

ZJAN vs. POCT - Expense Ratio Comparison

Both ZJAN and POCT have an expense ratio of 0.79%.

Dividends

ZJAN vs. POCT - Dividend Comparison

Neither ZJAN nor POCT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
POCT Innovator U.S. Equity Power Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.21%
ZJAN Innovator Equity Defined Protection ETF - 1 Yr January	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZJAN and POCT in my portfolio?

ZJAN and POCT have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZJAN or POCT?

POCT has higher volatility (0.94%) compared to ZJAN (0.39%). In terms of maximum drawdown, ZJAN dropped -3.20% vs POCT's -18.80%.

Which ETF is better, ZJAN or POCT?

On 1-year performance, POCT leads with 14.36% vs 7.49% for ZJAN. Both ETFs have the same 0.79% expense ratio. On volatility, ZJAN has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZJAN or POCT?

Over the 1-year period, POCT has performed better with a 14.36% return vs 7.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZJAN or POCT?

ZJAN and POCT have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, ZJAN or POCT?

ZJAN and POCT have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

ZJAN currently has the higher Sharpe Ratio (3.70 vs 2.35), 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.