Innovator S&P 500 Ultra Buffer - January (UJAN) Performance
UJAN total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.5% since Dec 31, 2025
- 1 year
- +9.8% total return
- 5 years
- +8.2% a year
- Since first price
- +8.2% a year since 2019
UJAN trailing returns vs SPY, QQQ, AGG
| Period | UJAN total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.1% | +0.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.8% | +2.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.2% | +5.2% | +7.8% | +8.4% | −1.5% |
| YTD | +7.5% | +7.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.8% | +9.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +44.1%+13.0%/yr | +44.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +48.2%+8.2%/yr | +48.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJan 2, 2019 | +84.4%+8.2%/yr | +84.4% | — | — | — |
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: UJAN vs SPY
From Jan 2, 2019: UJAN grew to $18,438, SPY to $34,041.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
UJAN returns by calendar year
5 of 6 full years positive. Best 2023 (+15.9%), worst 2022 (−5.9%). 2026 is year to date.
UJAN annual returns table
| Year | UJAN | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.5% | −4.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +11.1% | −9.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +13.1% | −3.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +15.9% | −4.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −5.9% | −8.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +5.8% | −1.3% | +28.7% | +27.4% | −1.8% |
| 2020 | +7.4% | −13.7% | +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.
UJAN largest drawdowns
Now 0.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −13.7% | Mar 20, 2020 | Aug 5, 2020 | 30 days | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
UJAN risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +12.5% | +8.3% | +7.8% |
| Volatility (annualized) | 5.8% | 6.0% | 6.2% |
| Sharpe ratio | 1.32 | 0.79 | 0.84 |
| Sortino ratio | 2.63 | 1.33 | 1.38 |
| Best month | +5.9% | +5.9% | +5.9% |
| Worst month | −3.0% | −3.8% | −5.1% |
| Best 12 months | +18.7% | +18.7% | +18.7% |
| Worst 12 months | +5.7% | −6.1% | −6.1% |
| Positive months | 81% | 75% | 74% |
| Beta vs S&P 500 | 0.44 | 0.34 | — |
| Correlation with S&P 500 | 0.94 | 0.87 | — |
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.
UJAN rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 82 | −6.1% | +9.7% | +18.7% | 84% |
| 3-year (a year) | 58 | +2.1% | +6.2% | +13.3% | 100% |
| 5-year (a year) | 34 | +5.7% | +7.6% | +8.5% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
UJAN performance overview
Innovator S&P 500 Ultra Buffer - January (UJAN) returned +9.8% over the past year and +8.2% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +8.2% a year, turning $10,000 into about $18,438. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −13.7%, from Feb 19, 2020 to Mar 20, 2020, and it took 5 months to get back to the old high. UJAN finished 5 of its 6 full calendar years with a gain; the best year was 2023 (+15.9%) and the worst 2022 (−5.9%). Volatility has been 6.2% a year.
Related: UJAN chart. See the UJAN overview for the latest quote and fund facts.
UJAN performance FAQ
What is the UJAN return over the past year?
UJAN returned +9.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 9.8%.
What is the average annual return of UJAN?
UJAN has returned +8.2% a year over 5 years, +8.2% a year since January 2, 2019 (total return, distributions reinvested).
How much would $10,000 invested in UJAN be worth?
$10,000 invested in UJAN at its first recorded close on January 2, 2019 would be worth about $18,438 on October 23, 2026 with distributions reinvested.
What was the worst year for UJAN?
The worst calendar year was 2022, with a total return of −5.9%. The best was 2023 at +15.9%.
What is the biggest drawdown of UJAN?
The largest peak-to-trough decline was −13.7% between February 19, 2020 and March 20, 2020. It recovered to the old high on August 5, 2020, 5 months after the bottom.
How volatile is UJAN?
Over the past 3 years UJAN had an annualized volatility of 5.8% and a Sharpe ratio of 1.32 (excess return over 1–3 month T-bills per unit of risk).