FIQLX vs. DFJSX

Last updated Jun 3, 2026

FIQLX (Fidelity Advisor Japan Fund Class Z) and DFJSX (DFA Japanese Small Company Portfolio) are both Japan Equities funds. Over the past 5 years, FIQLX returned 10.50%/yr vs 9.85%/yr for DFJSX. Their correlation of 0.84 suggests significant overlap in exposure. FIQLX charges 0.96%/yr vs 0.42%/yr for DFJSX.

Performance

FIQLX vs. DFJSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Japan Fund Class Z (FIQLX) and DFA Japanese Small Company Portfolio (DFJSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIQLX achieves a 24.66% return, which is significantly higher than DFJSX's 13.78% return.

FIQLX

• 1D: -0.08%
• 1M: 7.48%
• YTD: 24.66%
• 6M: 25.53%
• 1Y: 42.94%
• 3Y*: 22.03%
• 5Y*: 10.50%
• 10Y*: —

DFJSX

• 1D: -0.65%
• 1M: 3.57%
• YTD: 13.78%
• 6M: 16.59%
• 1Y: 30.20%
• 3Y*: 20.33%
• 5Y*: 9.85%
• 10Y*: 8.73%

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

FIQLX vs. DFJSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIQLX Fidelity Advisor Japan Fund Class Z	24.66%	31.84%	7.43%	16.09%	-22.16%	3.32%	25.58%	25.93%	-11.46%
DFJSX DFA Japanese Small Company Portfolio	13.78%	31.65%	4.35%	17.08%	-11.36%	-0.39%	3.78%	18.23%	-13.05%

Correlation

The correlation between FIQLX and DFJSX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.84

The correlation between FIQLX and DFJSX has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.

Return for Risk

FIQLX vs. DFJSX — Risk / Return Rank

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

FIQLX

FIQLX Risk / Return Rank: 60
FIQLX Sharpe Ratio Rank: 54
FIQLX Sortino Ratio Rank: 48
FIQLX Omega Ratio Rank: 48
FIQLX Calmar Ratio Rank: 80
FIQLX Martin Ratio Rank: 73

DFJSX

DFJSX Risk / Return Rank: 44
DFJSX Sharpe Ratio Rank: 47
DFJSX Sortino Ratio Rank: 46
DFJSX Omega Ratio Rank: 45
DFJSX Calmar Ratio Rank: 46
DFJSX Martin Ratio Rank: 38

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.

FIQLX vs. DFJSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Japan Fund Class Z (FIQLX) and DFA Japanese Small Company Portfolio (DFJSX). 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.

	FIQLX	DFJSX	Difference
Sharpe ratio Return per unit of total volatility	2.16	2.02	+0.13
Sortino ratio Return per unit of downside risk	2.91	2.84	+0.07
Omega ratio Gain probability vs. loss probability	1.38	1.37	+0.01
Calmar ratio Return relative to maximum drawdown	3.64	2.60	+1.04
Martin ratio Return relative to average drawdown	13.91	8.33	+5.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIQLX vs. DFJSX - Sharpe Ratio Comparison

The current FIQLX Sharpe Ratio is 2.16, which is comparable to the DFJSX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of FIQLX and DFJSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIQLX	DFJSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.02	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.61	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.30	+0.29

Drawdowns

FIQLX vs. DFJSX - Drawdown Comparison

The maximum FIQLX drawdown since its inception was -36.13%, smaller than the maximum DFJSX drawdown of -76.17%. Use the drawdown chart below to compare losses from any high point for FIQLX and DFJSX.

Drawdown Indicators

	FIQLX	DFJSX	Difference
Max Drawdown Largest peak-to-trough decline	-36.13%	-76.17%	+40.04%
Max Drawdown (1Y) Largest decline over 1 year	-12.73%	-12.53%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-19.14%	-13.31%	-5.83%
Max Drawdown (5Y) Largest decline over 5 years	-36.13%	-31.39%	-4.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.32%	—
Current Drawdown Current decline from peak	-1.52%	-3.22%	+1.70%
Average Drawdown Average peak-to-trough decline	-10.30%	-30.09%	+19.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	3.91%	-0.58%

Volatility

FIQLX vs. DFJSX - Volatility Comparison

Fidelity Advisor Japan Fund Class Z (FIQLX) has a higher volatility of 5.32% compared to DFA Japanese Small Company Portfolio (DFJSX) at 3.55%. This indicates that FIQLX's price experiences larger fluctuations and is considered to be riskier than DFJSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIQLX	DFJSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	3.55%	+1.77%
Volatility (6M) Calculated over the trailing 6-month period	16.35%	12.47%	+3.88%
Volatility (1Y) Calculated over the trailing 1-year period	21.23%	16.26%	+4.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.96%	16.15%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	16.59%	+3.27%

FIQLX vs. DFJSX - Expense Ratio Comparison

FIQLX has a 0.96% expense ratio, which is higher than DFJSX's 0.42% expense ratio.

Dividends

FIQLX vs. DFJSX - Dividend Comparison

FIQLX's dividend yield for the trailing twelve months is around 8.05%, more than DFJSX's 3.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFJSX DFA Japanese Small Company Portfolio	3.07%	3.49%	3.16%	6.45%	5.44%	5.26%	2.14%	3.98%	7.50%	2.41%	1.97%	1.38%
FIQLX Fidelity Advisor Japan Fund Class Z	8.05%	10.04%	5.04%	3.88%	0.00%	11.89%	1.97%	1.35%	0.48%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIQLX and DFJSX in my portfolio?

FIQLX and DFJSX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIQLX or DFJSX?

FIQLX has higher volatility (5.32%) compared to DFJSX (3.55%). In terms of maximum drawdown, FIQLX dropped -36.13% vs DFJSX's -76.17%.

Which has better risk-adjusted returns?

FIQLX currently has the higher Sharpe Ratio (2.16 vs 2.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.