Innovator Equity Defined Protec
TJAN
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- Innovator ETFs Trust’s Innovator Equity Defined Protection ETF (ticker: TJAN) is a U.S.-listed exchange-traded fund that seeks to track the return of the SPDR S&P 500 ETF Trust, up to a preset cap, while providing a 100% downside buffer over a two-year outcome period, before fees and expenses. The fund is part of Innovator’s Equity Defined Protection ETFs platform, which uses FLEX options on the S&P 500-linked underlying ETF to deliver defined-outcome, risk-managed equity exposure. Innovator Capital Management, LLC, the fund adviser, is headquartered in Wheaton, Illinois, and Innovator was founded in 2017; the trust itself is a Delaware statutory trust that changed its name from Academy Funds Trust to Innovator ETFs Trust in 2017. Innovator’s principal office is at 200 W. Front Street, Wheaton, Illinois 60187, and the firm’s product lineup centers on defined outcome, buffer, barrier, step-up, accelerated, and related ETF strategies for advisory and retail investors. TJAN was listed on January 2, 2025, with a 2-year outcome period running from January 1, 2025 through December 31, 2026, a starting cap of 15.93%, a 100% starting buffer, and an expense ratio of 0.79%. As of September 2026, the fund reports net assets of about $32 million, underscoring that it remains an actively traded niche defined-protection product rather than a broad-market index fund. The most significant recent company change is Goldman Sachs’ acquisition of Innovator Capital Management, completed on April 1, 2026, which made Innovator an indirect wholly owned subsidiary of Goldman Sachs and expanded Goldman’s presence in active ETFs and outcome-based strategies. In addition, Innovator announced a liquidation of another ETF in September 2026, indicating ongoing portfolio rationalization and product-line management within its broader ETF platform.