PJAN ETF — Innovator U.S. Equity Power Buffer ETF - January

Innovator U.S. Equity Power Buffer ETF - January (PJAN)

PJAN is an ETF that tracks the S&P 500 (via SPY). As of August 19, 2026, its distribution rate is 0.00%, its expense ratio is 0.79%. Fund total return is 99.5% over the past 7.6 years, 143.4 points behind SPY at 242.9%.

Innovator U.S. Equity Power Buffer ETF - January tracks the S&P 500 through SPY while incorporating a structured outcome strategy that caps upside returns but provides a 15% downside buffer against losses over a one-year period (February 1 to January 31). The fund carries a 0.79% expense ratio and does not make distributions. This ETF appeals to investors seeking exposure to large-cap U.S. equities with built-in downside protection, rather than those focused on generating current income.

PJAN performance versus SPY

Data as of August 19, 2026.

Fund total return is 99.5% over the past 7.6 years, 143.4 points behind SPY at 242.9%. Its deepest 1-year drawdown was 4.6%.

PJAN key facts

Data as of August 19, 2026.

Issuer

Innovator ETFs

Asset type

ETF

Asset class

Equity

Inception date

01/02/2019

Expense ratio

0.79%

Distribution rate

0.00%

Distribution frequency

None

Last close

$50.43

AUM

$1,429,351,122

Average volume

21216.0

Beta

0.48

P/E ratio

25.5249

How Dividend Vision calculates yield and returns

Distribution rate (0.00%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

Primary sources: Innovator ETFs fund page; Index: S&P 500 (via SPY); prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

PJAN risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 4.6%.

Who may consider PJAN — and who may not

It is a weaker fit for investors who need monthly cash flow (PJAN does not currently distribute); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More funds from Innovator ETFs.