Skip to content
Beacon

BJANInnovator U.S. Equity Buffer ETF - January

Stay safeGrow my money7y track recordRanked #83 of 340 in this goal

Seeks to provide returns that match the Underlying ETF return, up to 16.46%, while providing a buffer against the first 9% of Underlying ETF losses.

By Innovator ETFs · Launched 2018

Annual Cost

0.79%

#4,047 of 5,562 · expensive

Fund Size

$386M

#1,779 of 5,562 · large

Dividend YieldGoal

0.00%

Track Record

7 years

#1,859 of 5,562 · established

Performance

Total-return NAV · USD
Growth of $10,000
$12,030+20.3%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 5 holdings = 100.1% of fundconcentrated

N/A
99.2%
N/A
5.1%
US BANK MMDA - USBGFS 9
0.3%
N/A
-1.5%
N/A
-3.1%

Asset allocation

Stocks
99.9%
Cash
0.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
7.9%Low

Year-on-year price swings

Max drawdown
-26.9%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
1.21Strong risk-adjusted returns
Sortino (3Y)
1.81Good downside protection

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns that match the Underlying ETF return, up to 16.46%, while providing a buffer against the first 9% of Underlying ETF losses.
Strategy
Invests primarily in the State Street SPDR S&P 500 ETF Trust to replicate its performance while providing a 9% buffer against losses and a cap of 16.46% over the Outcome Period in 2026.
Inception date
December 31, 2018
Fund family
Innovator ETFs

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

Buffer ETF — downside protection at a cost

Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.

Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)

Why we flagged this: strategy=structured_outcome + structured_outcome_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

What's next?

You've reviewed BJAN. Save it to your watchlist to track it alongside the other funds you're weighing.

Data updated on 2026-06-19