Overview

S&P 500 exposure with the first 15% of losses absorbed over each January-to-January outcome year, in exchange for a capped upside.

Top Holdings

Fund Details

Investment Thesis

PJAN is a defined-outcome contract in fund form: buy at the January reset and the first 15% of S&P losses that year are absorbed, with upside capped in the mid-teens. The +11% year likely rode toward its cap. The fine print matters — buffers and caps apply to the outcome period, not whenever you happen to buy — but for sequence-of-returns-scared money it's a genuinely engineered middle path.

Who It's For

Near-retirees protecting sequence risk who'd otherwise flee to cash, ideally buying at the January reset. BUFR's laddered cousin smooths the timing question; PJAN is the single-vintage version.

10-Year History

Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.

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