Data as of Nov 4, 2026.
BJAN vs SIXJ: Cap, Buffer & Days Left
As of Nov 4, 2026 BJAN can fall 10.4% before its buffer engages and SIXJ 3.0%.
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Net assets: $348m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - Jan, and $148m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Jan.
BJAN: reference +12.4% since period start, fund +10.8%; buffer 0 to −9; cap +16.5%; Between buffer and cap. Data to Nov 4, 2026.
BJAN: reference +12.4% since period start, fund +10.8%; buffer 0 to −9; cap +16.5%; Between buffer and cap. Data to Nov 4, 2026.SIXJ: reference +2.7% since period start, fund +2.7%; buffer 0 to −10; cap +8.2%; Between buffer and cap. Data to Nov 4, 2026.
SIXJ: reference +2.7% since period start, fund +2.7%; buffer 0 to −10; cap +8.2%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
SIXJ costs 0.05 points a year less; their one-year returns differ by 2.4 points; BJAN is 2.3 times larger.
Points (pts) are percentage points.
| Measure | BJAN | SIXJ |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.1% | +11.7% |
| Drawdown | ||
| Index fall to the buffer | 11.0% | 2.6% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.74% |
| Net assets, as of Nov 3, 2026 | $343m | $148m |
| Holdings | ||
| Holdings in common | not published | |
How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed
Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →
Risk and return
Jan 14, 2022 to Oct 30, 2026 · 250 weekly returns · each against SPYFrom Jan 2022 to Oct 2026, BJAN returned more: +63.9% to +50.0%. SIXJ swung less: 9.3% to 11.7%. SIXJ fell less at its worst: −12.2% to −15.8%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | BJAN | SIXJ | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +63.9% | +50.0% | BJAN | Price change plus distributions, reinvested. | |
| Annualized | +10.8% | +8.8% | BJAN | Total return as a yearly rate. | |
| Price return | +63.9% | +50.0% | BJAN | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 11.7% | 9.3% | SIXJ | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 7.9% | 6.4% | SIXJ | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −15.8% | −12.2% | SIXJ | Deepest fall from a high to the low after it. | |
| Upside capture | 60.3% | 41.1% | 100.0% | BJAN | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 74.1% | 57.0% | 100.0% | SIXJ | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.70 | 0.53 | 1.00 | SIXJ lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.96 | 0.87 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.59 | 0.51 | BJAN | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.87 | 0.74 | BJAN | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.098 | 0.090 | 0.087 | BJAN (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 0.68 | 0.72 | SIXJ (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | +0.8% a year | +0.2% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.70 | 0.10 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −1.4% to +3.0% | −2.9% to +3.2% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.33 | −0.47 | BJAN | Return against its benchmark per unit of tracking error. | |
| Tracking error | 5.5% | 8.4% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 250 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | BJAN | SIXJ | BJAN | SIXJ |
| 3 months | +1.3% | +0.8% | +1.7 pts | +1.2 pts |
| 6 months | +5.2% | +4.7% | +0.7 pts | +0.2 pts |
| 1 year | +14.1% | +11.7% | +0.5 pts | −1.8 pts |
| 3 years | +63.4% | +51.3% | −13.0 pts | −25.1 pts |
| Since launchNot the same days: BJAN Jan 2019 · SIXJ Jan 2022 | +152.9% | +48.9% | −53.6 pts | −11.7 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
Where each one stands today
BJAN resets first, on Dec 31, 2026, 57 days from now; SIXJ runs to Dec 31, 2026, 57 days. BJAN can still gain 4.4% before its cap, SIXJ 5.0%. A fall from here reaches BJAN’s buffer after 10.4% and SIXJ’s after 3.0%. Both track SPY, so what separates them is where each is in its own period.
Client brief:
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BJAN
From its price on Nov 4, 2026, the fund can gain about 4.4% more before it reaches its cap. The fund's price can fall 10.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.0% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.
SIXJ
From its price on Nov 4, 2026, the fund can gain about 5.0% more before it reaches its cap. The fund's price can fall 3.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.6% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level.
Questions people ask
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How this is computed
It is a place in a set, not a rating or a recommendation.
ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, BJAN against SIXJ, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bjan-vs-sixj
ETFIQ. (Nov 4, 2026). BJAN against SIXJ. Retrieved from https://etfiq.com/compare/buffer/bjan-vs-sixj
[BJAN against SIXJ (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/bjan-vs-sixj)
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