LJAN — Innovator Premium Income 15 Buffer ETF - January
Data updated: 2026-09-28
LJAN — Innovator Premium Income 15 Buffer ETF - January. United States Blend / Core Equity · $12.34M AUM. Holdings, fees, performance and SEC filings.
LJAN Fund Overview
LJAN — Innovator Premium Income 15 Buffer ETF - January is a US ETF managed by Innovator ETFs Trust, categorised as United States Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Innovator ETFs Trust
- Category: United States Blend / Core Equity
- Assets under management: $12.34M
- 1-year return: 5.3%
- Ticker: LJAN
- SEC CIK: 0001415726
- SEC series ID: S000083550
- Share class ID: C000247292
LJAN Investment Objective and Strategy
Innovator Premium Income 15 Buffer ETF - January describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Innovator ETFs Trust.
Investment objective
The Fund seeks to provide investors, over the period from January 1, 2026 to December 31, 2026, with an investment that provides a high level of income through a Defined Distribution Rate of 5.67% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% of SPDR S&P 500 ETF Trust losses.
Principal investment strategy
General Strategy Description. The Fund is an actively managed exchange -traded fund ( ETF ) that invests in U.S. Treasury bills (the U.S. Treasuries ) and FLexible EXchange Options ( FLEX Options ) that use as a reference asset, the SPDR S&P 500 ETF Trust (the Underlying ETF ). Due to the unique mechanics of the Funds strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. It is important that an investor understand the characteristics of the Fund before making an investment in the Fund. As further described below, the Funds principal investment strategy seeks to provide the following investment profile over an approximately one -year period from January 1 through December 31 of each year (the Outcome Period ): Defined Distributions: The Fund seeks to provide shareholders who hold shares of the Fund ( Shares ) for an Outcome Period a high level of income through distribution payments (the Defined Distributions ) that represent a U.S.
dollar amount per Share payable by the Fund over an Outcome Period. Defined Distributions are comprised of: (i) the income generated by the Funds investments in U.S. Treasuries with maturity dates on or about each Distribution Date (as defined below), the majority with maturities on or about the final Distribution Date at the conclusion of the Outcome Period, and (ii) the premiums generated from the Funds FLEX Options positions that expire at the end of each Outcome Period. The Fund will establish an annualized payment rate (the Defined Distribution Rate ) based upon the Funds net asset value ( NAV ) at the commencement of the Outcome Period, which is the percentage of Defined Distributions per Share over the Outcome Period. For the current Outcome Period, the Defined Distribution Rate is 5.67% prior to taking into account any fees or expenses charged to shareholders.
The Defined Distribution Rate is based on market conditions at the onset of the Outcome Period and is likely to rise or fall from one Outcome Period to the next. Shareholders of record on the last business day of each month will be paid Defined Distributions on the first business day of the following respective month (each, a Distribution Date ). See Principal Investment Strategies Fund Portfolio and Principal investment Strategies The Defined Distribution Rate for additional information. Buffer: The Fund seeks to provide shareholders that hold Shares for the entire Outcome Period with a Buffer against the first 15% of Underlying ETF losses during the Outcome Period. The Funds shareholders will bear all Underlying ETF losses exceeding 15% on a one -to-one basis. If the Outcome Period has begun and the Fund has decreased in value beyond the pre -determined 15% Buffer, an investor purchasing Shares at that price may not benefit from the Buffer.
Similarly, if the Outcome Period has begun and the Fund has increased in value, an investor purchasing Shares at that price may not benefit from the Buffer until the Funds value has decreased to its value at the commencement of the Outcome Period. An investment in the Fund is only appropriate for shareholders willing to bear those losses. At the conclusion of each Outcome Period, the Fund will establish a new Buffer ( i.e. , beginning at 15% of Underlying ETF losses) for the next Outcome Period. The Buffer level beginning at 15% of losses of the Underlying ETF will remain constant from one Outcome Period to the next. There is no guarantee that the Fund will be successful in its attempt to implement the Buffer. See Principal Investment Strategies Fund Portfolio and Principal investment Strategies The Buffer for additional information.
Outcomes: The pre -determined outcomes sought by the Fund, which include the Defined Distributions and the Buffer (the Outcomes ) are designed to provide investment performance for each Outcome Period that is equal to the Defined Distribution Rate, less any decreases in NAV reflecting the losses experienced by the Underlying ETF that exceed the Buffer. If at the end of the Outcome Period the Underlying ETF has experienced (in comparison to the market value of the Underlying ETF at the beginning of the Outcome Period) a positive price return, or price return losses that are less than the Buffer, the Fund is designed to provide investors who hold shares for the entirety of the Outcome Period returns that equal the original NAV at the commencement of the Outcome Period plus the Defined Distribution Rate.
Conversely, if the Underlying ETF has experienced losses at the end of the Outcome Period that exceed the Buffer (in comparison to the market value of the Underlying ETF at the beginning of the Outcome Period), the Fund is designed to provide investors who hold shares for the entirety of the Outcome Period with a NAV that decreases in value reflecting the losses experienced by the Underlying ETF that exceed the Buffer. The Fund will not receive any of the upside returns of the Underlying ETF over the Outcome Period. See Principal Investment Strategies Fund Portfolio and Principal investment Strategies The Outcome Period for additional information. The Fund and the sought -after Outcomes are designed for shareholders who invest and hold Shares from the commencement of the Outcome Period through the end of the Outcome Period.
The effect of the Buffer on the sought -after Outcomes is measured only at the end of the Outcome Period, regardless of whether the level of the Underlying ETF has produced losses that exceed the Buffer at any point during the Outcome Period. However, if an investor purchases Shares after the commencement of the Outcome Period, the Underlying ETF is likely to have changed in value and will affect the amount of losses the Underlying ETF may incur before the Buffer is exceeded. If an investor purchases Shares after the Outcome Period has begun or sells Shares prior to the conclusion of the Outcome Period, the Outcomes experienced by the investor will differ from the Funds sought -after Outcomes. See Principal Investment Strategies Intra -Outcome Period. The Fund seeks a high level of income that exceeds an investment in U.S.
Treasuries with premiums generated from the Funds FLEX Options positions. As further described below, the Fund will purchase U.S. Treasuries and enter into a series of FLEX Option contracts that provides additional income to the Fund by virtue of premiums received from sold FLEX Options. The Fund is designed to provide Defined Distributions based on a Defined Distribution Rate that is established at the commencement of each Outcome Period. The Defined Distribution Rate is based upon prevailing market conditions for both the U.S Treasuries and the FLEX Options on the first day of the Outcome Period and will be further reduced by the Funds annual management fees, any shareholder transaction fees and any extraordinary expenses incurred by the Fund. For the current Outcome Period, the Defined Distribution Rate is 5.67% prior to taking into account any fees or expenses charged to shareholders.
When the Funds annual Fund management fee of 0.79% of the Funds average daily net assets is taken into account, the Defined Distribution Rate is 4.88%. While the Defined Distribution Rate is expected to remain constant over the Outcome Period for shareholders who hold Shares continuously from the commencement of the Outcome Period until its conclusion, the Defined Distribution Rate is not guaranteed. The Defined Distribution Rate is based on the NAV per Share at the commencement of the Outcome Period and any shareholders that initially invest at a Share price that differs from this NAV will not experience the Defined Distribution Rate. Because the Defined Distribution Rate is based upon prevailing market conditions at the beginning of an Outcome Period, the Defined Distribution Rate will rise or fall from one Outcome Period to the next.
Fund shareholders also will be subject to losses experienced by the Underlying ETF if the Underlying ETF experiences losses from the commencement of the Outcome Period to its conclusion that exceed the Buffer. The Fund will seek to set the Buffer at 15% of Underlying ETF losses at the end of each Outcome Period. If at the end of the Outcome Period the Underlying ETF has experienced a positive price return, or price return losses that are less than the Buffer, the Fund will not experience any of the losses of the Underlying ETF and is designed to provide returns that equal the Defined Distribution Rate. However, if the Underlying ETF has decreased in value below the Buffer at the end of the Outcome Period, the Funds investments will generate Outcomes that equal the Defined Distribution Rate less any decreases in NAV reflecting the losses experienced by the Underlying ETF that exceed the Buffer.
The Fund will not benefit from any increases in the Underlying ETF over the course of an Outcome Period but is subject to the possibility of significant losses experienced by the Underlying ETF if the value of the Underlying ETF drops below the Buffer at the end of the Outcome Period. A shareholder could lose its entire investment. The Fund will not receive or benefit from any dividend payments made by the constituents of the Underlying ETF. The current Outcome Period is from January 1, 2026 through December 31, 2026. Upon the conclusion of the Outcome Period, the Fund will receive the value of its investments in the U.S. Treasuries upon the maturity of such U.S. Treasuries and deliver cash owed on its FLEX Options positions, if any. At the commencement of the new Outcome Period, the Fund will enter into new FLEX Options with an expiration date of approximately one year and invest in U.S Treasuries with maturity dates on or about each Distribution Date, the majority with maturities on or about the final Distribution Date at the conclusion of the Outcome Period.
The Outcomes may only be realized by shareholders who continuously hold Shares from the commencement of the Outcome Period until its conclusion. See Principal Investment Strategies Intra -Outcome Period and Principal Investment Strategies The Outcome Period for additional information. Fund Portfolio. The Funds investment sub -adviser , Milliman Financial Risk Management LLC ( Milliman or the Sub -Adviser ) will pursue the Funds investment objective through the combination of FLEX Options positions that reference the Underlying ETF and in U.S. Treasuries. As further described below, the Fund will invest proceeds from investments in the Fund, together with the FLEX Options premium net proceeds, in U.S. Treasuries in seeking to provide the Defined Distribution Rate. FLEX Options are exchange -traded option contracts with uniquely customizable terms.
Although guaranteed for settlement by the Options Clearing Corporation (the OCC ), FLEX Options are still subject to counterparty risk with the OCC and may be less liquid than more traditional exchange -traded options. See Principal Risks Derivatives Risk FLEX Options Risk. The Funds FLEX Options positions have expiration dates on or about the final date of the Outcome Period. In general, an option contract is an agreement between a buyer and seller that gives the purchaser of the option contract the right to buy or sell a particular asset at a specified future date at an agreed upon price. An option contract gives the purchaser of the option, in exchange for the premium paid, the right to purchase (for a call option) or sell (for a put option) the underlying asset at a specified price (the strike price) on a specified date (the expiration date).
A put option contract gives the buyer of the put option contract the right (but not the obligation) to sell, and the seller of the put option contract ( i.e. , the writer) the obligation to buy (if the option is exercised), a specified amount of an underlying security at a pre -determined price (the strike price).
LJAN Holdings
Top 6 holdings of Innovator Premium Income 15 Buffer ETF - January by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Treasury Bill | 99.08% |
| Treasury Bill | 0.41% |
| Treasury Bill | 0.41% |
| Treasury Bill | 0.40% |
| Treasury Bill | 0.40% |
| US Bank Mmda - Usbgfs 9 | 0.35% |
LJAN Portfolio Allocation
Asset-class allocation of Innovator Premium Income 15 Buffer ETF - January by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 100.7% |
| Cash & Equivalents | 0.3% |
LJAN Performance
Total returns for LJAN (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 3.2% |
| 1 year | 5.3% |
| 3 years (annualised) | 5.3% |
LJAN Risk Information
Risk metrics for LJAN, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.2%
LJAN Costs and Fees
LJAN costs about $79 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.79%
- Gross expense ratio: 0.79%
- Portfolio turnover: 0%
- Brokerage commissions: 0.50 bps of average net assets (SEC N-CEN)
LJAN Cashflows
Over the 12 months to 2026-07, Innovator Premium Income 15 Buffer ETF - January had net inflows of $8.74K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-07 | $0 |
| 2026-06 | $0 |
| 2026-05 | $0 |
| 2026-04 | $0 |
| 2026-03 | −$1.22M |
| 2026-02 | $614.92K |
LJAN Debt Constituents
Largest debt holdings of Innovator Premium Income 15 Buffer ETF - January by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Treasury Bill | 99.08% |
| Treasury Bill | 0.41% |
| Treasury Bill | 0.41% |
| Treasury Bill | 0.40% |
| Treasury Bill | 0.40% |
LJAN Prospectus and SEC Filings
Official Innovator Premium Income 15 Buffer ETF - January filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-27
- Prospectus (485BPOS) — filed 2025-02-28
- Prospectus supplement (497) — filed 2026-01-02
- Portfolio holdings (N-PORT) — filed 2026-09-28
- Portfolio holdings (N-PORT) — filed 2026-06-26
- Portfolio holdings (N-PORT) — filed 2026-03-27
- Annual census (N-CEN) — filed 2026-01-13
- Annual census (N-CEN) — filed 2025-01-15
Related Funds
Other United States Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.