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Launched

Innovator U.S. Small Cap Power Buffer ETF - January

KJANCboeInnovatorC

$45.84−0.02 (−0.04%)

At close: Nov 2, 2026, 4:00 PM ET

C49/ 100

Rank 7 of 21 in Russell 2000 Buffer 15%

C49/100Rank 7 of 21inRussell 2000 Buffer 15%
Intraday session: down, 78 prints from 45.86 to 45.84. Range 45.84 to 46.27. Use the arrow keys to read each point.46.0046.1046.2046.3010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$313M
1Y total return
+12.1%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
10.5K sh
52W range
low $39.00high $46.51
Launched

The ETF.net KJAN Grade

Based on 4 of 6 pillars

C

Score 49 out of 100

Category
Russell 2000 Buffer 15%⁠
Rank
7 of 21
Six-pillar profile for KJAN. Scores out of 100: Cost 40, Risk 47, Mission not scored, Tradability 59, Holdings not scored, Durability 90. Strongest: Durability (90). Weakest: Cost (40). Based on 4 of 6 pillars.

Score 49 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C40 out of 100
    Rank 8 of 21

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 12 of 21

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B59 out of 100
    Rank 8 of 21

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A90 out of 100
    Rank 1 of 21

Our read on KJAN

ETF.net Research

In short

CMost buffer ETFs babysit the S&P 500. KJAN aims the same machinery at small caps: Russell 2000 exposure with the first 15% of losses absorbed, upside capped, and a fresh outcome period every January.

Stated mandate

The fund seeks to track the return of the iShares Russell 2000 ETF (IWM), subject to a predetermined cap, while protecting investors against the first 15% of losses during the outcome period.

Why people hold it

  • The buffer points at the Russell 2000, not the S&P 500. Only a handful of funds run this trade in small caps, and this one owns the January reset.
  • At 0.79% a year it sits right at the going rate for small-cap buffer funds and undercuts the FT Vest versions (SMAY, SNOV) at 0.90%.
  • Running since 2020, it has cycled through full outcome periods again and again, and it lands in the upper half of its small-cap buffer peer group.

Worth knowing

  • The cap is the price of the buffer. It is reset each January for the year ahead, so the ceiling for a given period isn't known until that period begins.
  • Buying mid-period gets you whatever buffer and cap are left, not the headline 15%. The stated terms apply to a full January-to-December stretch, before the fee.
  • It trades lightly next to the big S&P 500 buffer funds, so spreads can be wider and limit orders do more work than market orders.

KJAN Performance

Launched Jan 1, 2020

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

Not enough history yet.
KJAN$11,210
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. KJAN $11,210. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 KJAN. Periods over one year show the average yearly return.
PeriodKJAN
Year to date+10.7%
1 month+0.7%
3 months+0.3%
1 year+12.1%
3 yearsper year+15.8%
5 yearsper year+7.7%
10 yearsFund is under 10 years oldper yearNo data

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 KJAN
YearReturn barKJAN
2026 YTD+10.7%
2025+10.9%
2024+8.9%
2023+14.7%
2022−7.7%
2021+11.7%
2020+8.7%

History from Jan 2, 2020

KJAN in the news

KJAN Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

KJAN Risk

Risk pillarC47 out of 100Rank 12 of 21 in Russell 2000 Buffer 15%
How much the fund’s monthly returns vary, scaled to a year.
11.2%
Annualised · 36 months to Oct 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.
0.97
vs 3-month T-bills · to Oct 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.
−16.8%
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.
0.66
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.

FMP measures it over up to five years of monthly returns.

KJAN Cost

Compare KJAN and SCAU

Overpaying vs SCAU, tied cheapest in Russell 2000 Buffer 15%

$9,025

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • KJAN 0.79%

    $15,174

  • SCAU 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • KJAN 0.79%
  • SCAU 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530KJAN $15,174SCAU $6,149

Year by year

YearKJANSCAUOverpaying
10$1,405$545$860
20$5,331$2,113$3,218
30$15,174$6,149$9,025

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