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NJAN

GradeBChicago Board Options Exchange

Innovator Growth-100 Power Buffer ETF

Buffered · Innovator · Inception 2020-01-01

$60.65−0.07 (−0.12%)

As of Sep 23, 2026, 2:18 PM EDT

Intraday session: down, 57 prints from 60.72 to 60.65. Range 60.58 to 60.75. Use the arrow keys to read each point.$60.60$60.70$60.7510 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$348M
1Y return
+14.4%
Yield · Last 12 months
—
Holdings
6
Volume · 30D
0M sh
NAV per share
$60.31
52W range
low $52.21high $60.76

The ETF.net NJAN Grade

B

54/ 100

Rank 3 of 20 in Nasdaq-100 Buffer 15%⁠

Confidence Medium

Six-pillar profile for NJAN. Scores out of 100: Cost 39, Risk 47, Mission not scored, Tradability 81, Holdings not scored, Durability 88. Strongest: Durability (88). Weakest: Cost (39). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 54 of 100 sits in the B 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.
    DScore 39
    Category rank11/20 · mid-pack

  • 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 47
    Category rank9/17 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 81
    Category rank3/20 · top 15%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 88
    Category rank1/20 · top 5%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on NJAN

ETF.net Research

BThe January rung of Innovator's Nasdaq-100 ladder: hold a QQQ-linked stake, hand back the upside above a cap set each January, and get the first 15% of the year's losses absorbed. Big tech with the top and bottom sanded down.

Stated mandate

The fund seeks capped upside exposure to the Invesco QQQ Trust while protecting against the first 15% of losses during each approximately annual outcome period.

Why people hold it

  1. 01Deep cushion by design: the first 15% of the reference asset's losses over each roughly one-year outcome period are absorbed before you feel anything.
  2. 02The reference asset is the Invesco QQQ Trust itself, not a bespoke index. What you're buffering is the same Nasdaq-100 exposure most investors already know.
  3. 03Part of a dated series (NAPR, NJUL run the same 15% Power Buffer on different start months), so entry dates can be laddered rather than bet on one January.
  4. 04Fee sits right at the middle of the Nasdaq-100 buffer aisle at 0.79%, and the fund has been running its annual reset since 2020.

Worth knowing

  1. 01The cap is the price of the buffer. It's reset each January from options pricing, so a scorching Nasdaq-100 year gets left partly on the table.
  2. 02Outcomes are engineered start-to-finish of the period. Buy or sell mid-period and your real cushion and remaining upside differ from the headline terms.
  3. 03Cheaper ways to buffer the Nasdaq-100 exist (PBQQ runs 0.50%), and this one trades lightly, so limit orders matter more here than with the category's giants.

NJAN Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
6
Top-10 weight
109%
Largest holding
QQQ 12/31/2026 6.14 C108.3%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—QQQ 12/31/2026 6.14 C108.31%5,169$379M1
002—QQQ 12/31/2026 614.31 P0.67%5,169$2M1
003—US BANK MMDA - USBGFS 9 09/01/20370.25%859,839$860K161

Showing 1–3 of 3 holdings

NJAN Performance

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

NJAN$11,435
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. NJAN $11,435. 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 NJAN. Periods over one year show the average yearly return.
PeriodNJAN
Year to date+10.6%
1 month+1.9%
3 months+3.1%
1 year+14.4%
3 years+14.4%per year
5 years+8.0%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 NJAN
YearReturn barNJAN
2026 YTD+10.6%
2025+14.2%
2024+15.4%
2023+20.9%
2022−18.9%
2021+11.5%
2020+8.3%

History from Jan 2, 2020

NJAN in the news

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

NJAN Dividends

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

No distributions in the last 12 months.

NJAN Risk

How much the fund’s monthly returns vary, scaled to a year.
7.0%
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.
1.26
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.
−20.7%
Trough Oct 2022
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.
0.44
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.

NJAN Cost

Expense ratio0.79%
  • The middle half of Nasdaq-100 Buffer 15% funds
  • Median 0.79%

7 of the 15 Nasdaq-100 Buffer 15% funds charge less.

NJAN costs $79.00 a year on $10,000. The median Nasdaq-100 Buffer 15% fund costs $79.00.