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LJANInnovator Premium Income 15 Buffer ETF - January

Take a bet2y track recordRanked #613 of 775 in this goal

Seeks to provide investors with a high level of income through a Defined Distribution Rate of 5.67% while providing a buffer against the first 15% of SPY losses.

By Innovator ETFs · Launched 2023

Annual Cost

0.79%

#4,047 of 5,562 · expensive

Fund Size

$12M

#4,660 of 5,562 · small

Return (1Y)Goal

+5.9%

Track Record

2 years

#3,366 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,587+5.9%

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

Classification

How Beacon categorizes this fund

Asset class

Alternative

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 10 holdings = 101.9% of fundconcentrated

TREASURY BILL
98.3%
US BANK MMDA - USBGFS 9
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%

Asset allocation

Bonds
99.8%
Cash
0.2%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
2.5%Low

Year-on-year price swings

Max drawdown
-4.8%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide investors with a high level of income through a Defined Distribution Rate of 5.67% while providing a buffer against the first 15% of SPY losses.
Strategy
Invests primarily in U.S. Treasury bills and FLEX Options referencing SPY to provide a 5.67% Defined Distribution Rate and a 15% buffer against SPY losses over the annual Outcome Period.
Inception date
December 29, 2023
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

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Data updated on 2026-06-20