Data as of Nov 4, 2026.
BJAN vs TJAN: Cap, Buffer & Days Left
As of Nov 4, 2026 TJAN can fall 13.3% before its buffer engages and BJAN 10.4%.
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Net assets on Nov 4, 2026: $348m for Innovator U.S. Equity Buffer ETF - Jan and $32m for Innovator Equity Defined Protection ETF - Jan 2027.
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.TJAN: reference +30.8% since period start, fund +13.4%; buffer Floor; cap +15.9%; At its cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
Both cost 0.79% a year; their one-year returns differ by 7.8 points; BJAN is 10.9 times larger.
Points (pts) are percentage points.
| Measure | BJAN | TJAN |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.1% | +6.3% |
| Drawdown | ||
| Index fall to the buffer | 11.0% | 23.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.79% |
| Net assets | $348m | $32m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | BJAN | TJAN | BJAN | TJAN |
| 3 months | +1.3% | +1.2% | +1.7 pts | +1.6 pts |
| 6 months | +5.2% | +3.0% | +0.7 pts | −1.5 pts |
| 1 year | +14.1% | +6.3% | +0.5 pts | −7.3 pts |
| 3 years | +63.4% | – | −13.0 pts | – |
| Since launchNot the same days: BJAN Jan 2019 · TJAN Jan 2025 | +152.9% | +13.1% | −53.6 pts | −18.1 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. TJAN is a floor fund, which caps how far a holder can fall. BJAN is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
TJAN is already at its cap, so more rise in the index adds nothing to it before the period ends.
Both are Innovator funds, so the difference between them is the terms rather than the house.
Where each one stands today
BJAN resets first, on Dec 31, 2026, 57 days from now; TJAN runs to Dec 31, 2026, 57 days. BJAN can still gain 4.4% before its cap, TJAN 0.8%. A fall from here reaches BJAN’s buffer after 10.4% and TJAN’s after 13.3%. Both track SPY, so what separates them is where each is in its own period.
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.
TJAN
SPY had already risen past this fund's cap of +15.9% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.8% as the period runs out. The fund's price can fall 13.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 23.5% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.
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How this is computed
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 TJAN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bjan-vs-tjan
ETFIQ. (Nov 4, 2026). BJAN against TJAN. Retrieved from https://etfiq.com/compare/buffer/bjan-vs-tjan
[BJAN against TJAN (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/bjan-vs-tjan)
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