BJANInnovator U.S. Equity Buffer ETF - January
The fund invests at least 80% of its net assets in FLexible EXchange® Options ("FLEX Options") that reference the SPDR® S&P 500® ETF Trust (the "underlying ETF"). FLEX Options are exchange-traded option contracts with uniquely customizable terms. Through its use of FLEX Options on the Underlying ETF, the fund has significant exposure to companies in the information technology sector. The fund is non-diversified.
Innovator ETFs · Since 2018 (7 years)
0.79%
#3848 out of 5,332 ETFs
$357M
#1692 out of 5,332 ETFs
0.00%
7 years
#1896 out of 5,332 ETFs
Performance
1 Year
+24.0%
3 Years
+18.0%
5 Years
+10.3%
What's inside
Asset allocation
Risk profile
8.3%
Moderate
-26.9%
Worst peak-to-trough loss
1.33
Excellent risk-adjusted returns
2.00
Good downside protection
Similar ETFs
Our take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
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
Data updated on 2026-05-05