Which returned more over the last year, SPY or UJAN?

In the year to Sep 4, 2026, with distributions reinvested, SPY returned +20.0% and UJAN returned +11.5%, so SPY returned more. One year is one year; the longer windows are in the table.

Are SPY and UJAN the same kind of fund?

No. SPY is an index ETF and UJAN is a buffer ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.

Data as of Sep 4, 2026. Both funds on the fields they both publish, from the same sources.

ETFIQetfiq.com · independent ETF data

SPY vs UJAN

Name: ETFIQ comparison of SPY and UJAN
Creator: ETFIQ
License: https://etfiq.com/standards/

SPDR S&P 500 ETF Trust and Innovator U.S. Equity Ultra Buffer ETF - Jan.

SPY and UJAN on the fields both publish, as of Sep 4, 2026. Source: ETFIQ.
	SPY SPDR S&P 500 ETF Trust	UJAN Innovator U.S. Equity Ultra Buffer ETF - Jan
Where it sits	Core fund	Buffer desk
Issuer	State Street	Innovator
What it is	S&P 500, book from IVV	Defined outcome, on SPY
Total return, 1 year	+20.0%	+11.5%
S&P 500 over the same days	+20.0%	+20.0%
Gap to the S&P 500	+0.0 pts	−8.5 pts
Expense ratio	not published	0.79%
Holdings	504	n/a

SPY in plain words

SPY is a index equity fund tracking S&P 500, book from IVV. Over the year to Sep 4, 2026 it returned +20.0% with distributions reinvested, against +20.0% for the S&P 500 and +25.6% for the Nasdaq-100. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 36.4%.

UJAN in plain words

SPY had already risen past this fund's cap of +11.4% for the period on Sep 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.4% as the period runs out. The fund's price can fall 11.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 15.9% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level. 118 days remained on Sep 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.

Questions people ask

Which returned more over the last year, SPY or UJAN?: In the year to Sep 4, 2026, with distributions reinvested, SPY returned +20.0% and UJAN returned +11.5%, so SPY returned more. One year is one year; the longer windows are in the table.
Are SPY and UJAN the same kind of fund?: No. SPY is an index ETF and UJAN is a buffer ETF, so they are built for different jobs. The table compares what both publish: return, cost and what each actually holds.

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Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

SPY against UJAN, ETFIQ, data as of Sep 4, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. A comparison is not a recommendation.

Cite this page. ETFIQ, SPY against UJAN, data as of Sep 4, 2026. https://etfiq.com/compare/any/SPY-UJAN.html Free to use with attribution; the underlying files are at Open data.

A comparison is not a recommendation. Standards and sources