# UJAN (Innovator U.S. Equity Ultra Buffer ETF - Jan)

Innovator · Buffer ETFs · data as of Sep 11, 2026

As of Sep 11, 2026, UJAN has reached its cap.

## Key facts

- UJAN, past the cap, price drift left: 3.5%, as of Sep 11, 2026.
- UJAN, fall before the buffer: 11.8%, as of Sep 11, 2026.
- UJAN, protection left, index points: 30.0%, as of Sep 11, 2026.
- UJAN, days to reset: 111, as of Sep 11, 2026.
- UJAN, net assets: $253m (issuer page, as of Sep 11, 2026).
- UJAN, expense ratio: 0.79% (issuer page, Sep 11, 2026).

## UJAN over each window to Sep 11, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +2.7% | +3.3% | −0.6 pts |
| 6 months | +8.2% | +16.0% | −7.8 pts |
| 1 year | +10.7% | +17.5% | −6.8 pts |
| 3 years | +39.7% | +77.9% | −38.2 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 5% to 35% | ETFIQ |
| Outcome period | Dec 31, 2025 to Dec 31, 2026 | ETFIQ |
| Starting cap | +11.4% | ETFIQ |
| SPY return since period start | +12.1% | ETFIQ |
| Fund return since period start | +7.0% | ETFIQ |
| Net assets | $253m | issuer page, as of Sep 11, 2026 |
| Band state today | At cap | ETFIQ |
| Can still gain | 3.5% | issuer, fund price |
| Fall before buffer | 11.8% | issuer, fund price |
| Fall to the buffer in index terms | 15.2% | ETFIQ |
| Protection left in index points | 30.0% of 30.0% | ETFIQ |
| Days left in period | 111 | ETFIQ |
| Expense ratio | 0.79% | issuer page, Sep 11, 2026 |

## Questions

### How much can UJAN still gain?

Nothing more in index terms on Sep 11, 2026. SPY has already passed the cap of +11.4% for this period, which runs from Dec 31, 2025 to Dec 31, 2026.

### How far can UJAN fall before the buffer helps?

11.8% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms SPY can fall 15.2% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the UJAN buffer is left?

30.0% of the 30.0% buffer sat below the SPY level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does UJAN reset?

The outcome period ends on Dec 31, 2026, 111 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again.

### What does UJAN cost?

The prospectus expense ratio is 0.79% a year.


## Cite this page

ETFIQ, UJAN, data as of Sep 11, 2026. https://etfiq.com/funds/ujan
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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