Innovator S&P 500 Power Buffer - January (PJAN) Performance
PJAN total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.2% since Dec 31, 2025
- 1 year
- +10.6% total return
- 5 years
- +9.0% a year
- Since first price
- +9.4% a year since 2019
PJAN trailing returns vs SPY, QQQ, AGG
| Period | PJAN total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.3% | +0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.8% | +2.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.6% | +5.6% | +7.8% | +8.4% | −1.5% |
| YTD | +8.2% | +8.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +10.6% | +10.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +47.9%+13.9%/yr | +47.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +54.1%+9.0%/yr | +54.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJan 2, 2019 | +101.3%+9.4%/yr | +101.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PJAN vs SPY
From Jan 2, 2019: PJAN grew to $20,131, SPY to $34,041.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PJAN returns by calendar year
5 of 6 full years positive. Best 2023 (+18.2%), worst 2022 (−5.3%). 2026 is year to date.
PJAN annual returns table
| Year | PJAN | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.2% | −4.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +11.3% | −10.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +13.5% | −3.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.2% | −5.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −5.3% | −11.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +8.8% | −2.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +7.7% | −21.2% | +18.3% | +48.6% | +7.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PJAN largest drawdowns
Now 0.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −21.2% | Mar 23, 2020 | Aug 5, 2020 | 33 days | 6 months |
| Jan 4, 2022 | −11.9% | Oct 12, 2022 | Apr 13, 2023 | 9 months | 1.3 years |
| Feb 19, 2025 | −10.5% | Apr 8, 2025 | Jun 10, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PJAN risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +13.4% | +9.2% | +9.0% |
| Volatility (annualized) | 6.4% | 8.3% | 8.4% |
| Sharpe ratio | 1.33 | 0.68 | 0.76 |
| Sortino ratio | 2.87 | 1.12 | 1.20 |
| Best month | +7.2% | +7.2% | +7.3% |
| Worst month | −2.8% | −5.1% | −7.2% |
| Best 12 months | +21.1% | +21.1% | +25.9% |
| Worst 12 months | +6.0% | −9.9% | −9.9% |
| Positive months | 78% | 72% | 73% |
| Beta vs S&P 500 | 0.48 | 0.50 | — |
| Correlation with S&P 500 | 0.93 | 0.95 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PJAN rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 82 | −9.9% | +10.6% | +25.9% | 87% |
| 3-year (a year) | 58 | +1.9% | +7.8% | +15.9% | 100% |
| 5-year (a year) | 34 | +7.1% | +8.9% | +10.6% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
PJAN performance overview
Innovator S&P 500 Power Buffer - January (PJAN) returned +10.6% over the past year and +9.0% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +9.4% a year, turning $10,000 into about $20,131. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −21.2%, from Feb 19, 2020 to Mar 23, 2020, and it took 4 months to get back to the old high. PJAN finished 5 of its 6 full calendar years with a gain; the best year was 2023 (+18.2%) and the worst 2022 (−5.3%). Volatility has been 8.4% a year.
Related: PJAN chart. See the PJAN overview for the latest quote and fund facts.
PJAN performance FAQ
What is the PJAN return over the past year?
PJAN returned +10.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 10.6%.
What is the average annual return of PJAN?
PJAN has returned +9.0% a year over 5 years, +9.4% a year since January 2, 2019 (total return, distributions reinvested).
How much would $10,000 invested in PJAN be worth?
$10,000 invested in PJAN at its first recorded close on January 2, 2019 would be worth about $20,131 on October 23, 2026 with distributions reinvested.
What was the worst year for PJAN?
The worst calendar year was 2022, with a total return of −5.3%. The best was 2023 at +18.2%.
What is the biggest drawdown of PJAN?
The largest peak-to-trough decline was −21.2% between February 19, 2020 and March 23, 2020. It recovered to the old high on August 5, 2020, 4 months after the bottom.
How volatile is PJAN?
Over the past 3 years PJAN had an annualized volatility of 6.4% and a Sharpe ratio of 1.33 (excess return over 1–3 month T-bills per unit of risk).