UJAN Breaks Through to a New 52-Week High Amid Short-Term Momentum as RSI Signals Overbought Conditions

ETF Overview and Capital Flows

The Innovator U.S. Equity Ultra Buffer ETF (UJAN.B) is an actively managed fund designed to provide capped gains and buffered losses relative to the S&P 500 over its specific holdings period. It achieves this structure by holding options and collateral, with a 1.0x leverage ratio and a 0.79% expense ratio. Recent capital flows for the period ending December 31, 2025, show net outflows across all order types, including a $1.68 million exit via extra-large orders. While outflows suggest caution, the fund’s active strategy remains focused on its stated buffer mechanism.

Technical Signals and Market Setup

UJAN.B’s price recently hit a 52-week high, with technical indicators showing mixed signals. The ETF’s RSI is in overbought territory as of January 2, 2026, suggesting short-term momentum. However, a “KD dead cross” pattern also emerged on the same date, which historically has signaled bearish reversals. These conflicting signals highlight a tug-of-war between aggressive buyers and potential profit-taking pressure.

Peer ETF Snapshot

• AGG.P (iShares Core U.S. Aggregate Bond ETF) has a 0.03% expense ratio, $136 billion AUM, and 1.0x leverage.
• BNDP.O (Vanguard Short-Term Inflation-Protected Securities ETF) charges 0.05%, with $101 million AUM and 1.0x leverage.
• AFIX.P (iShares Fixed Income Aggregate Bond ETF) carries a 0.19% expense ratio and $178 million AUM.

The Innovator U.S. Equity Ultra Buffer ETF (UJAN.B) offers a unique risk-mitigation angle for S&P 500 exposure, but its high expense ratio and recent outflows underscore structural challenges. The overbought RSI suggests short-term strength, while the KD dead cross warns of potential near-term volatility. Investors must weigh the fund’s active strategy against its liquidity dynamics and cost structure.