EALT vs JANP: Grades, Fees and Holdings Compared

Innovator U.S. Equity 5 to 15 Buffer ETF

EALTBCboe

PGIM S&P 500 Buffer 12 ETF - January

JANPBCboe

Overlap

0.0%by weight

Expense ratio

JANP −0.19pt a year

EALT0.69%JANP0.50%

Avg volume · 30D

EALT 2.4×the volume

EALT22.5KJANP9.46K

EALT vs JANP Performance

Nov 7, 2025 – Nov 9, 2026

+4.1%EALT+11.9%JANP

Expense ratio: EALT 0.69%; JANP 0.50%, better
Fund size: EALT $183M; JANP $57M
1Y total return: EALT +4.1%; JANP +11.9%, better
Holdings: EALT 4; JANP 4
Avg volume (30D): EALT 22.5K sh, better; JANP 9.46K sh
NAV per share: EALT $35.54; JANP $35.06
52W range

ETF.net Grade

Pillar letters and Scores for EALT, JANP, with each pillar’s weight
Pillar	EALT	JANP
Cost30% weight	A82	A91Higher
Mission25% weight	A84	Not scored
Risk15% weight	D30	B60Higher
Tradability15% weight	C47Higher	D28
Holdings10% weight	C50	Not scored
Durability5% weight	B61Higher	C46

Rank among S&P 500 Buffer 9-12% funds

How we build Categories ›

Same Category. EALT and JANP are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds

See all 77 ›

JANP ranks 4th and EALT 18th of 77 funds in the S&P 500 Buffer 9-12% Category.

Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 76
Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 66
Rank 2BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 66
Rank 4BJANPPGIM S&P 500 Buffer 12 ETF - JanuaryScore 65
Rank 4BOCTTAllianzIM U.S. Equity Buffer10 Oct ETFScore 65
Rank 17BDECTAllianzIM U.S. Equity Buffer10 Dec ETFScore 59
Rank 18BEALTInnovator U.S. Equity 5 to 15 Buffer ETFScore 58
Rank 18BJANTAllianzIM U.S. Equity Buffer10 Jan ETFScore 58

Our read on each fund

ETF.net Research

EALTBInnovator U.S. Equity 5 to 15 Buffer ETF

JANPBPGIM S&P 500 Buffer 12 ETF - January

In short

EALT Most buffer funds cushion your first dollar of loss. EALT skips that, absorbing the 5% to 15% slice of an S&P 500 ETF's decline instead, and resetting every three months. You wear the first 5%, and the upside is capped.

JANP No data

Stated mandate

EALT The fund seeks to track the return of an S&P 500 ETF, subject to a cap, while providing downside protection within the 5% to 15% loss range during each three-month outcome period.

JANP No data

Why people hold it

EALT A 10-point protected band placed over the 5% to 15% loss zone, the ordinary-pullback range, referenced to a plain S&P 500 ETF (VOO).
Outcome periods run three months, so buffer and cap reset four times a year rather than once. Less waiting to get back to fresh terms.
0.69% a year undercuts the typical shallow-buffer fund at 0.79%, and matches Innovator's own quarterly first-dollar sibling ZALT.
Live since 2023 and one of the stronger builds in a shallow-buffer field of 50-plus competing funds.

JANP No data

Worth knowing

EALT The first 5% of a decline is yours, and so is anything below 15%. This is a band of protection, not a floor.
Upside is capped, with a new cap set each three-month period. Buy mid-period and your buffer and cap differ from the stated terms.
A smaller, thinly traded fund, so spreads can run wider than in the category's heavyweights. The structure targets price outcomes, not income.

JANP No data

Full EALT profile⁠

Full JANP profile⁠

EALT vs JANP Holdings

How EALT and JANP differ

Overlap by weight

0.0%

About this figure: EALT holds other funds. We compare those funds, not the stocks inside them.

Level by level

Asset classStocks, Alternatives0.0%
Holdings0 in both0.0%
Sector11 Sectors95.1%
Countryby domicile99.97%

Sector

Sector weights in EALT and JANP, widest gap first
Sector	Gap	EALT	JANP
Technology	EALT +3.8 points	40.5%	36.7%
Financials	JANP +1.4 points	11.1%	12.5%
Health Care	JANP +1.2 points	9.3%	10.5%
Communication	EALT +1.2 points	9.9%	8.8%
Consumer Discretionary	JANP +0.9 points	8.8%	9.7%
Consumer Staples	JANP +0.8 points	4.3%	5.1%
Utilities	JANP +0.2 points	1.9%	2.1%
Real Estate	JANP +0.2 points	1.7%	1.9%
Energy	JANP +0.1 points	3.4%	3.5%
Materials	Same weight	1.6%	1.6%
Industrials	Same weight	7.5%	7.6%

Country, concentration and asset class

Country by domicile

Country weights in EALT and JANP, widest gap first
Country	Gap	EALT	JANP
United States	Same weight	99.5%	99.5%
Switzerland	Same weight	0.3%	0.3%
China	Same weight	0.1%	0.1%
Mexico	Same weight	0.1%	0.1%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

EALT100.9%
JANP101.0%

Securities held

EALT4
JANP3

Asset class

EALT: Stocks
JANP: Alternatives

Holdings

Only in EALT4
In both0
Only in JANP3

Only in EALT

4 securities, 100% of EALT by weight

Vanguard S&P 500 ETF98.61%
Voo 12/31/2026 665.82 P2.15%
Us Bank Mmda - Usbgfs 9 09/01/20370.09%
Voo 12/31/2026 707.87 C<0.01%

Only in JANP

3 securities, 100% of JANP by weight

4SPY Us 12/31/26 C6.8299.22%
4SPY Us 12/31/26 P681.921.19%
Net Current Assets<0.01%

Weight gaps

EALT and JANP share no securities.

All 6 EALT holdings⁠All JANP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EALT vs JANP Cost

Overpaying EALT vs JANP

$3,450

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

EALT 0.69%
$13,429
JANP 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

EALT 0.69%
JANP 0.50%
Overpaying

Year by year

Year	EALT	JANP	Overpaying
10	$1,232	$900	$332
20	$4,697	$3,460	$1,237
30	$13,429	$9,979	$3,450

Expense ratio

0.69%EALT
0.50%JANP, cheaper

JANP0.50%EALT0.69%

0.25%0.85%

Middle half of S&P 500 Buffer 9-12% funds
Median 0.79%

JANP 5th cheapest of 77 funds

EALT 14th cheapest of 77 funds

EALT vs JANP Dividends

Last 12 months to Nov 9, 2026

Payout (12M): EALT None; JANP None

Distribution history

EALTAll EALT payments⁠

No distribution history available.

JANPAll JANP payments⁠

No distribution history available.

EALT vs JANP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: EALT 8.8%JANP 6.3%since Feb 2024
Return per unit of riskSharpe ratio, 3 years: EALT 0.92JANP 1.33since Feb 2024
Worst fallMax drawdown, 5 years: EALT −14.8%since Oct 2023JANP −12.2%since Jan 2024
Market sensitivityBeta, 5 years: EALT 0.67JANP 0.50; Market = 1

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