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GJAN

GradeCChicago Board Options Exchange

FT Vest U.S. Equity Moderate Buffer ETF - January

Buffered · First Trust · Inception 2023-01-20 · SEC filings

$46.12−0.07 (−0.15%)

As of Sep 23, 2026, 3:11 PM EDT

History starts Jan 23, 2023.
Intraday session: down, 17 prints from 46.19 to 46.12. Range 46.08 to 46.19. Use the arrow keys to read each point.$46.10$46.15$46.2010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$444M
1Y return
+11.0%
Yield · Last 12 months
—
Holdings
4
Volume · 30D
0M sh
NAV per share
$46.20
52W range
low $41.07high $46.33

The ETF.net GJAN Grade

C

42/ 100

Rank 33 of 61 in S&P 500 Buffer 15%⁠

Confidence Medium

Six-pillar profile for GJAN. Scores out of 100: Cost 13, Risk 48, Mission not scored, Tradability 75, Holdings 62, Durability 75. Strongest: Tradability (75). Weakest: Cost (13). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 13
    Category rank51/61 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 48
    Category rank31/57 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 75
    Category rank8/61 · top 13%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 62
    Category rank12/32 · top 38%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 75
    Category rank15/61 · top 25%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on GJAN

ETF.net Research

CA 15% shock absorber on the S&P 500, running on a January clock. GJAN is built to absorb the reference ETF's first 15% of price losses over each one-year outcome period, and to trade away gains above a cap set when that period begins.

Stated mandate

The Fund seeks to provide returns matching the price return of the stated S&P 500 ETF, before fees and expenses, subject to an upside cap. It also protects against the first 15% of losses during the specified outcome period.

Why people hold it

  1. 01The deal is written down before you commit: the first 15% of the reference S&P 500 ETF's price decline is absorbed over the outcome period, with an upside cap fixed at the start.
  2. 02Resets every January, and it is one month in a full calendar of identical siblings (GAPR, GJUL, GOCT and the rest), so laddering across start dates stays inside one lineup.
  3. 03The thing being buffered is the SPDR S&P 500 ETF Trust itself, not a bespoke index, and this January cycle has been turning since the 2023 launch.

Worth knowing

  1. 010.85% a year sits above cohort rivals PJAN and PJUL at 0.79%, and well above the laddered BUFF at 0.10%.
  2. 02Buffer and cap are stated before fees and expenses, so the 0.85% comes out of your slice, and the cap means strong rallies get left on the table.
  3. 03Bought mid-period, your own cushion and cap differ from the headline terms. Daily volume is on the lighter side, so the spread is worth a look.

GJAN Holdings

As of Sep 21, 2026, 5:44 PM
Asset class
Other
Holdings
4
Top-10 weight
103%
Largest holding
2027-01-15 State Street® SPDR® S&P 500® ETF Trust C 6.94101.9%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—2027-01-15 State Street® SPDR® S&P 500® ETF Trust C 6.94101.86%5,975$450M1
002—2027-01-15 State Street® SPDR® S&P 500® ETF Trust P 691.681.02%5,975$5M1
003—US Dollar0.54%2,398,983$2M394

Showing 1–3 of 3 holdings

GJAN Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

GJAN$11,098
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. GJAN $11,098. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for GJAN. Periods over one year show the average yearly return.
PeriodGJAN
Year to date+7.9%
1 month+0.9%
3 months+2.9%
1 year+11.0%
3 years+12.6%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for GJAN
YearReturn barGJAN
2026 YTD+7.9%
2025+10.7%
2024+12.1%
2023+13.4%

History from Jan 23, 2023

GJAN in the news

ETF.net Research hasn’t filed on GJAN yet — coverage lands here as it’s written.

GJAN Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

GJAN Risk

How much the fund’s monthly returns vary, scaled to a year.
6.4%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.06
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−10.6%
43 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.47
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

GJAN Cost

Expense ratio0.85%
  • The middle half of S&P 500 Buffer 15% funds
  • Median 0.79%

35 of the 50 S&P 500 Buffer 15% funds charge less.

GJAN costs $85.00 a year on $10,000. The median S&P 500 Buffer 15% fund costs $79.00.