BJAN vs SPY
Innovator US Equity Buffer ETF - January vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | BJAN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $342M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +9.77% | +14.47% | |
| 1Y Return | +16.84% | +21.96% | |
| 3Y Return (annualized) | +16.69% | +21.70% | |
| 5Y Return (annualized) | +10.70% | +13.30% | |
| Volatility (annualized) | 11.7% | 15.3% | |
| Max Drawdown | -26.9% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 31, 2018 | Jan 22, 1993 |
BJAN vs SPY Performance
Innovator US Equity Buffer ETF - January (BJAN) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BJAN returned +16.84% while SPY returned +21.96%. Year to date, BJAN is up 9.77% versus a gain of 14.47% for SPY.
Over three years, BJAN compounded at +16.69% per year against +21.70% for SPY; over five years the annualized figures are +10.70% and +13.30% respectively. Across the full 8-year window we track, BJAN has the edge at +12.77% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.7% for BJAN. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -26.9% for BJAN and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BJAN charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, BJAN currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, BJAN or SPY?
BJAN has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, BJAN or SPY?
Over the past year BJAN returned +16.84% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), BJAN annualized +12.77% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, BJAN or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 11.7% for BJAN. Worst drawdown: BJAN -26.9% vs SPY -56.5%.
Should I hold both BJAN and SPY?
BJAN and SPY have a monthly-return correlation of 0.97, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, BJAN or SPY?
BJAN yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.