Innovator U.S. Small Cap Power Buffer ETF - January
$45.46−0.11 (−0.24%)
- 0.79%
- $313M
- +14.2%
- 0M sh
- $45.59
- low $39.00high $46.51
The ETF.net KJAN Grade
C
Score 46 out of 100
- 8 of 21
Score 46 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.D35 out of 100Rank 9 of 21Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C40 out of 100Rank 13 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B59 out of 100Rank 8 of 21Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A90 out of 100Rank 1 of 21
Our read on KJAN
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.
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 Holdings
- Stocks
- 3
- 102%
- Iwm 12/31/2026 2.46 C
Sectors
- Health Care20.9%
- Financials18.0%
- Technology14.4%
- Industrials13.4%
- Consumer Discretionary8.6%
- Real Estate6.5%
- Energy6.3%
- Materials4.3%
- Utilities2.7%
- Consumer Staples2.6%
- Communication2.3%
KJAN Performance
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$11,415
Returns run to the Oct 12, 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.
| Period | KJAN |
|---|---|
| Year to date | +10.0% |
| 1 month | −1.1% |
| 3 months | −0.2% |
| 1 year | +14.2% |
| 3 years | +14.8% |
| 5 years | +7.8% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | KJAN |
|---|---|---|
| 2026 YTD | +10.0% | |
| 2025 | +10.9% | |
| 2024 | +8.9% | |
| 2023 | +14.7% | |
| 2022 | −7.7% | |
| 2021 | +11.7% | |
| 2020 | +8.7% |
KJAN in the news
KJAN Dividends
No distributions in the last 12 months.
KJAN Risk
- 11.6%
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.
- 0.81
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.
- −16.8%
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.
- 0.66
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
KJAN Cost
0.79%
KJAN0.79%
- The middle half of Russell 2000 Buffer 15% funds
- Median 0.74%
8 of the 14 Russell 2000 Buffer 15% funds charge less.
Other funds in Russell 2000 Buffer 15%
- CKAPRInnovator U.S. Small Cap Power Buffer ETF - AprilExpense ratio 0.79%1 year return +16.0%
- CKJULInnovator Russell 2000 Power Buffer ETF - JulyExpense ratio 0.79%1 year return +7.1%
- CRBProShares Trust - ProShares Russell 2000 Dynamic Buffer ETFExpense ratio 0.58%1 year return +15.5%
- CSCJLCorgi ETF Trust I - Corgi U.S. Small-Cap 15% Structured Buffer ETF - July SeriesExpense ratio 0.30%1 year return —
- CSCJNCorgi ETF Trust I - Corgi U.S. Small-Cap 15% Structured Buffer ETF - June SeriesExpense ratio 0.30%1 year return —