CNJFX vs. FJPNX

Last updated Apr 2, 2026

Compare and contrast key facts about Commonwealth Japan Fund (CNJFX) and Fidelity Japan Fund (FJPNX).

CNJFX is managed by Commonwealth Intl Series Tr. It was launched on Jul 9, 1989. FJPNX is managed by Fidelity. It was launched on Sep 15, 1992.

Performance

CNJFX vs. FJPNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Commonwealth Japan Fund (CNJFX) and Fidelity Japan Fund (FJPNX). The values are adjusted to include any dividend payments, if applicable.

CNJFX vs. FJPNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNJFX Commonwealth Japan Fund	6.86%	18.27%	-1.53%	14.15%	-18.49%	-7.92%	9.93%	19.15%	-10.80%	20.61%
FJPNX Fidelity Japan Fund	6.17%	31.66%	7.37%	15.86%	-22.23%	3.11%	25.42%	25.74%	-14.84%	29.26%

Returns By Period

In the year-to-date period, CNJFX achieves a 6.86% return, which is significantly higher than FJPNX's 6.17% return. Over the past 10 years, CNJFX has underperformed FJPNX with an annualized return of 4.47%, while FJPNX has yielded a comparatively higher 10.25% annualized return.

CNJFX

• 1D: 3.09%
• 1M: -6.22%
• YTD: 6.86%
• 6M: 10.70%
• 1Y: 25.05%
• 3Y*: 11.00%
• 5Y*: 1.96%
• 10Y*: 4.47%

FJPNX

• 1D: 3.50%
• 1M: -8.58%
• YTD: 6.17%
• 6M: 10.71%
• 1Y: 38.02%
• 3Y*: 17.41%
• 5Y*: 6.51%
• 10Y*: 10.25%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNJFX vs. FJPNX - Expense Ratio Comparison

CNJFX has a 1.75% expense ratio, which is higher than FJPNX's 1.09% expense ratio.

CNJFX

Commonwealth Japan Fund

FJPNX

Fidelity Japan Fund

Return for Risk

CNJFX vs. FJPNX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNJFX

CNJFX Risk / Return Rank: 66
CNJFX Sharpe Ratio Rank: 66
CNJFX Sortino Ratio Rank: 69
CNJFX Omega Ratio Rank: 53
CNJFX Calmar Ratio Rank: 77
CNJFX Martin Ratio Rank: 65

FJPNX

FJPNX Risk / Return Rank: 85
FJPNX Sharpe Ratio Rank: 84
FJPNX Sortino Ratio Rank: 82
FJPNX Omega Ratio Rank: 77
FJPNX Calmar Ratio Rank: 92
FJPNX Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNJFX vs. FJPNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Commonwealth Japan Fund (CNJFX) and Fidelity Japan Fund (FJPNX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CNJFX	FJPNX	Difference
Sharpe ratio Return per unit of total volatility	1.27	1.63	-0.36
Sortino ratio Return per unit of downside risk	1.88	2.18	-0.30
Omega ratio Gain probability vs. loss probability	1.23	1.30	-0.07
Calmar ratio Return relative to maximum drawdown	2.02	2.78	-0.76
Martin ratio Return relative to average drawdown	7.00	10.30	-3.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNJFX vs. FJPNX - Sharpe Ratio Comparison

The current CNJFX Sharpe Ratio is 1.27, which is comparable to the FJPNX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of CNJFX and FJPNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CNJFX	FJPNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.63	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.33	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.57	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	0.24	-0.32

Correlation

The correlation between CNJFX and FJPNX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CNJFX vs. FJPNX - Dividend Comparison

CNJFX's dividend yield for the trailing twelve months is around 1.13%, less than FJPNX's 9.38% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNJFX Commonwealth Japan Fund	1.13%	1.20%	0.58%	0.10%	0.00%	4.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FJPNX Fidelity Japan Fund	9.38%	9.95%	4.85%	3.71%	0.00%	11.58%	1.79%	1.18%	0.38%	0.23%	1.22%	0.64%

Drawdowns

CNJFX vs. FJPNX - Drawdown Comparison

The maximum CNJFX drawdown since its inception was -73.98%, which is greater than FJPNX's maximum drawdown of -64.83%. Use the drawdown chart below to compare losses from any high point for CNJFX and FJPNX.

Drawdown Indicators

	CNJFX	FJPNX	Difference
Max Drawdown Largest peak-to-trough decline	-73.98%	-64.83%	-9.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.44%	-12.74%	+1.30%
Max Drawdown (5Y) Largest decline over 5 years	-36.47%	-36.23%	-0.24%
Max Drawdown (10Y) Largest decline over 10 years	-36.47%	-36.23%	-0.24%
Current Drawdown Current decline from peak	-37.09%	-9.68%	-27.41%
Average Drawdown Average peak-to-trough decline	-50.01%	-25.01%	-25.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	3.47%	-0.17%

Volatility

CNJFX vs. FJPNX - Volatility Comparison

The current volatility for Commonwealth Japan Fund (CNJFX) is 8.00%, while Fidelity Japan Fund (FJPNX) has a volatility of 10.59%. This indicates that CNJFX experiences smaller price fluctuations and is considered to be less risky than FJPNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNJFX	FJPNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.00%	10.59%	-2.59%
Volatility (6M) Calculated over the trailing 6-month period	13.90%	16.57%	-2.67%
Volatility (1Y) Calculated over the trailing 1-year period	19.39%	23.06%	-3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.04%	19.70%	-1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.28%	18.18%	-0.90%