PJAN ETF — Holdings & Analysis

The Innovator U.S. Equity Power Buffer ETF (PJAN) is designed to track the SPDR S&P 500 ETF Trust (SPY) with a unique buffer strategy.

With $1.55 billion in assets under management, PJAN aims to provide investors with capped upside potential while buffering against the first 15% of losses over an approximate annual outcome period. The ETF's expense ratio is 0.79%. PJAN resets annually, offering a consistent risk-managed approach to equity investing.

Innovator U.S. Equity Power Buffer ETF (PJAN) ETF — Price, Holdings & Analysis

The Innovator U.S. Equity Power Buffer ETF (PJAN) is designed to track the SPDR S&P 500 ETF Trust (SPY) with a unique buffer strategy. With $1.55 billion in assets under management, PJAN aims to provide investors with capped upside potential while buffering against the first 15% of losses over an approximate annual outcome period. The ETF's expense ratio is 0.79%. PJAN resets annually, offering a consistent risk-managed approach to equity investing.

ETF Overview

S. Equity Power Buffer ETF seeks to track the return of the SPDR S&P 500 ETF Trust (SPY), up to a predetermined cap, while buffering investors against the first 15% of losses over the outcome period. The ETF can be held indefinitely, resetting at the end of each outcome period, approximately annually.

The Innovator U.S. Equity Power Buffer ETF (PJAN) offers a distinct approach to S&P 500 exposure by providing a buffer against potential losses while capping upside gains. This ETF is designed for investors seeking to participate in equity market returns with a degree of downside protection. PJAN resets its buffer annually, making it suitable for investors with a one-year investment horizon who want to mitigate risk. The fund achieves its objective by investing in financial instruments that provide exposure to the SPDR S&P 500 ETF Trust (SPY). PJAN's sector allocation is heavily weighted towards Technology at 33.1%, followed by Financial Services (12.3%), and Communication Services (10.7%). The fund's holdings are concentrated in a small number of positions, with 100% exposure to 'Other' countries.

Risk Metrics

PJAN's risk profile is shaped by its unique buffered strategy and sector concentrations. The ETF's 0.79% expense ratio is higher than the category average, which can create a drag on performance over time. With a beta of 0.49, PJAN exhibits lower volatility compared to the broader market, suggesting it may underperform during strong market rallies but offer greater protection during downturns. The fund's significant allocation to the Technology sector (33.1%) exposes it to sector-specific risks. The concentration of holdings, with only 6 positions, could amplify the impact of individual security performance on the overall ETF return. Past performance does not guarantee future results.

Expense Ratio

0.79%

How Is the Fund Allocated?

Sector	Weight
Technology	33.1%
Financial Services	12.3%
Communication Services	10.7%
Consumer Cyclical	10.1%
Healthcare	9.8%
Industrials	8.7%
Consumer Defensive	5.4%
Energy	3.5%
Utilities	2.5%
Real Estate	2.0%
Basic Materials	1.9%

Country	Weight
Other	100.0%

Dividend Yield

0.00%

Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio

Innovator U.S. Equity Accelerated 9 Buffer ETF (XBAP) (Equity) — 0.79% expense ratio
Innovator Equity Dual Directional 10 Buffer ETF (DDTN) (Equity) — 0.79% expense ratio
Innovator Equity Dual Directional 15 Buffer ETF (DDFN) (Equity) — 0.79% expense ratio
Innovator Emerging Markets Power Buffer ETF (EAPR) (Equity) — 0.89% expense ratio
Innovator Equity Dual Directional 10 Buffer ETF (DDTJ) (Equity) — 0.79% expense ratio
Innovator Equity Dual Directional 15 Buffer ETF (DDFJ) (Equity) — 0.79% expense ratio

Risk Metrics

Beta: 0.49

Questions & Answers

What is PJAN and what does it track?

The Innovator U.S.

Equity Power Buffer ETF (PJAN) is an exchange-traded fund designed to provide investors with exposure to the SPDR S&P 500 ETF Trust (SPY) while buffering against the first 15% of losses over a specific outcome period, which is approximately one year. The ETF also has a predetermined cap.

What is the expense ratio for PJAN?

The expense ratio for the Innovator U.S. Equity Power Buffer ETF (PJAN) is 0.79%. This means that for every $1000 invested in the fund, $7.90 is used to cover the fund's operating expenses.

While this expense ratio provides access to a unique buffered investment strategy, it is higher than the average expense ratio for equity ETFs.

What are the top holdings in PJAN?

As a buffered ETF, PJAN does not directly hold individual stocks like a traditional index fund. Instead, it uses financial instruments to achieve its investment objective of tracking the SPDR S&P 500 ETF Trust (SPY) with a buffer against losses.

The fund's investments are designed to replicate the performance of the SPY, while providing a level of downside protection.

Is PJAN a good long-term investment?

Whether PJAN is a suitable long-term investment depends on an investor's individual risk tolerance and investment goals. The ETF's buffered strategy can provide downside protection, which may be attractive to risk-averse investors.

However, the capped upside potential may limit returns during strong market rallies.

How does PJAN compare to similar ETFs?

PJAN competes with other buffered ETFs that offer downside protection strategies. A key differentiator is PJAN's expense ratio of 0.79%, which may be higher or lower than its peers.

The fund's AUM of $1.55 billion indicates its relative size and popularity compared to other ETFs in the category.

Does PJAN pay dividends?

According to the provided data, the Innovator U.S. Equity Power Buffer ETF (PJAN) has a dividend yield of 0.00%. This indicates that the fund does not currently distribute dividends to its shareholders.

Investors seeking dividend income may want to consider alternative ETFs that prioritize dividend payouts. However, PJAN's primary focus is on providing buffered exposure to the S&P 500, rather than generating dividend income.