ZJANInnovator Equity Defined Protection ETF — 1 Yr January
Seeks returns that match the return of the Underlying ETF, up to a 6.55% cap, while providing a buffer against 100% of losses over the Outcome Period.
By Innovator ETFs · Launched 2024
0.79%
#4,215 of 5,861 · expensive
$115M
#2,855 of 5,861 · mid-size
+6.2%
1 year
#3,970 of 5,861 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 4 holdings = 100.1% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks returns that match the return of the Underlying ETF, up to a 6.55% cap, while providing a buffer against 100% of losses over the Outcome Period.
- Strategy
- Invests in FLEX Options referencing the Underlying ETF to provide returns matching the ETF's performance, capped at 6.55%, while protecting against 100% of losses during the Outcome Period. The strategy is designed for investors holding Shares throughout the Outcome Period.
- Inception date
- December 31, 2024
- Fund family
- Innovator ETFs
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
You can build this cheaper yourself
Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.
Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)
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 2026-08-04