Which has more room to gain, EALT or PJAN?

From their prices on Oct 1, 2026, EALT can gain about 7.0% before its cap and PJAN about 3.4%, so EALT has more room left this period.

Which resets first, EALT or PJAN?

EALT ends its outcome period on Dec 31, 2026 and PJAN on Dec 31, 2026. A new cap is set the day after each.

Which is cheaper, EALT or PJAN?

EALT charges 0.69% a year and PJAN charges 0.79%, so EALT is cheaper. Fees come from each fund's prospectus.

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EALT vs PJAN: which one stands where?

As of Oct 1, 2026 PJAN can fall 8.0% before its buffer engages and EALT 5.0%. Innovator U.S. Equity 5 to 15 Buffer ETF - Quarterly and Innovator U.S. Equity Power Buffer ETF - Jan.

5.0%

EALT can fall this far before its buffer

8.0%

PJAN can fall this far before its buffer

7.0%

EALT can still gain

3.4%

PJAN can still gain

EALTBetween buffer and cap

EALT: reference 0.0% since period start, fund 0.0%; buffer −5 to −15; cap +7.0%; Between buffer and cap.

PJANBetween buffer and cap

PJAN: reference +11.8% since period start, fund +8.0%; buffer 0 to −15; cap +12.3%; Between buffer and cap.

ETFIQ Downside Cover Score · PJAN scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

EALT 34.3

PJAN 54.1

0.2, the lowest in this set99.8, the highest

A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it → How it is computed →

Both are Innovator funds, so the difference between them is the terms rather than the house.

Where each one stands today

EALT resets first, on Dec 31, 2026, 92 days from now; PJAN runs to Dec 31, 2026, 92 days. EALT can still gain 7.0% before its cap, PJAN 3.4%. A fall from here reaches EALT’s buffer after 5.0% and PJAN’s after 8.0%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	EALT	PJAN	EALT	PJAN
3 months	+2.1%	+2.4%	−0.4 pts	−0.1 pts
6 months	+8.3%	+9.7%	−8.7 pts	−7.3 pts
1 year	+5.8%	+10.8%	−9.9 pts	−5.0 pts
3 years	not published	+45.8%	not published	−39.2 pts

EALT and PJAN over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

EALT

Innovator U.S. Equity 5 to 15 Buffer ETF - Quarterly · Absorbs losses from 5.0% to 15.0% on SPY and caps the gain at 7.0%, over a period ending Dec 31, 2026

PJAN

Innovator U.S. Equity Power Buffer ETF - Jan · Absorbs the first 15% of loss on SPY and caps the gain at 12.3%, over a period ending Dec 31, 2026

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 5% to 15% 15%

Outcome period Sep 30, 2026 to Dec 31, 2026 Dec 31, 2025 to Dec 31, 2026

Days left 92 92

Starting cap +7.0% +12.3%

Can still gain 7.0% 3.4%

Fall before buffer 5.0% 8.0%

Protection left, index points 10.0% of 10.0% 15.0% of 15.0%

Index return this period 0.0% +11.8%

Fund return this period 0.0% +8.0%

State today Open Open

Expense ratio 0.69% 0.79%

Net assets $181m $1.4bn

EALT and PJAN on the same fields, as of Oct 1, 2026. Source: ETFIQ.

EALT in plain words

From its price on Oct 1, 2026, the fund can gain about 7.0% more before it reaches its cap. The fund's price can fall 5.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 5.0% 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. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

PJAN in plain words

From its price on Oct 1, 2026, the fund can gain about 3.4% more before it reaches its cap. The fund's price can fall 8.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.6% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, EALT or PJAN?: From their prices on Oct 1, 2026, EALT can gain about 7.0% before its cap and PJAN about 3.4%, so EALT has more room left this period.
Which resets first, EALT or PJAN?: EALT ends its outcome period on Dec 31, 2026 and PJAN on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, EALT or PJAN?: EALT charges 0.69% a year and PJAN charges 0.79%, so EALT is cheaper. Fees come from each fund's prospectus.

Other comparisons

EALT vs XDEC EALT vs XSEP EALT vs ZALT EALT vs ZJAN PJAN vs UOCT PJAN vs XBJA PJAN vs XDEC PJAN vs ZALT

SPY →EALT on its own →PJAN on its own →How every figure is computed →Standards and sources →

Where these figures came from

EALT and PJAN filings on SEC EDGAR ↗Innovator page for EALT ↗Innovator page for PJAN ↗

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

Cite this page

ETFIQ, EALT against PJAN, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/ealt-vs-pjan

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.