JANJ vs SPY
Innovator Premium Income 30 Barrier 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 | JANJ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $14M | $821.1B | |
| Dividend Yield | 5.02% | 1.01% | |
| Holdings | 7 | 505 | |
| YTD Return | +1.26% | +12.68% | |
| 1Y Return | +0.26% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 3.0% | 15.3% | |
| Max Drawdown | -7.6% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jan 2, 2024 | Jan 22, 1993 |
JANJ vs SPY Performance
Innovator Premium Income 30 Barrier ETF - January (JANJ) 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 JANJ returned +0.26% while SPY returned +21.82%. Year to date, JANJ is up 1.26% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.0% for JANJ. 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 -7.6% for JANJ 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 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
JANJ 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, JANJ currently yields 5.02% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, JANJ or SPY?
JANJ 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, JANJ or SPY?
Over the past year JANJ returned +0.26% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), JANJ annualized +0.54% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, JANJ or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.0% for JANJ. Worst drawdown: JANJ -7.6% vs SPY -56.5%.
Should I hold both JANJ and SPY?
JANJ and SPY have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, JANJ or SPY?
JANJ yields 5.02% while SPY yields 1.01%, so JANJ currently pays the higher dividend yield.
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