FJPCX vs. EWJ
FJPCX (Fidelity Advisor Japan Fund Class C) and EWJ (iShares MSCI Japan ETF) are both Japan Equities funds. Over the past 10 years, FJPCX returned 9.58%/yr vs 8.96%/yr for EWJ. Their correlation of 0.91 means they have usually moved in the same direction. FJPCX charges 2.09%/yr vs 0.49%/yr for EWJ.
Performance
FJPCX vs. EWJ - Performance Comparison
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Returns By Period
In the year-to-date period, FJPCX achieves a 20.64% return, which is significantly higher than EWJ's 15.05% return. Over the past 10 years, FJPCX has outperformed EWJ with an annualized return of 9.58%, while EWJ has yielded a comparatively lower 8.96% annualized return.
FJPCX
- 1D
- 4.49%
- 1M
- -2.21%
- 6M
- 12.01%
- YTD
- 20.64%
- 1Y
- 34.92%
- 3Y*
- 18.68%
- 5Y*
- 8.69%
- 10Y*
- 9.58%
- ALL TIME*
- 6.93%
EWJ
- 1D
- -0.96%
- 1M
- -0.81%
- 6M
- 8.37%
- YTD
- 15.05%
- 1Y
- 30.10%
- 3Y*
- 17.16%
- 5Y*
- 9.17%
- 10Y*
- 8.96%
- ALL TIME*
- 2.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $420.68M | $453.45M | $519.58M | |
| $0.00 | $0.00 | $0.00 |
FJPCX vs. EWJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FJPCX Fidelity Advisor Japan Fund Class C | 20.64% | 30.33% | 6.28% | 14.73% | -23.02% | 2.12% | 24.21% | 24.42% | -15.61% | 28.87% |
EWJ iShares MSCI Japan ETF | 15.05% | 25.84% | 7.03% | 20.29% | -17.72% | 1.16% | 15.40% | 19.34% | -14.10% | 24.27% |
Correlation
The correlation between FJPCX and EWJ is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 2010 | 0.91 |
The correlation between FJPCX and EWJ has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
FJPCX vs. EWJ — Risk / Return Rank
FJPCX
EWJ
FJPCX vs. EWJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Japan Fund Class C (FJPCX) and iShares MSCI Japan ETF (EWJ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FJPCX | EWJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.28 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 2.28 | +0.48 |
| Martin ratioReturn relative to average drawdown | 8.89 | 7.33 | +1.57 |
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Drawdowns
FJPCX vs. EWJ - Drawdown Comparison
The maximum FJPCX drawdown since its inception was -36.91%, smaller than the maximum EWJ drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for FJPCX and EWJ.
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Drawdown Indicators
| FJPCX | EWJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.91% | -60.93% | +24.02% |
Max Drawdown (1Y)Largest decline over 1 year | -12.81% | -13.59% | +0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -19.64% | -14.68% | -4.96% |
Max Drawdown (5Y)Largest decline over 5 years | -36.91% | -33.14% | -3.77% |
Max Drawdown (10Y)Largest decline over 10 years | -36.91% | -33.14% | -3.77% |
Current DrawdownCurrent decline from peak | -7.14% | -4.72% | -2.42% |
Average DrawdownAverage peak-to-trough decline | -10.46% | -21.64% | +11.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 4.23% | -0.26% |
Volatility
FJPCX vs. EWJ - Volatility Comparison
Fidelity Advisor Japan Fund Class C (FJPCX) has a higher volatility of 8.49% compared to iShares MSCI Japan ETF (EWJ) at 7.64%. This indicates that FJPCX's price experiences larger fluctuations and is considered to be riskier than EWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FJPCX | EWJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.49% | 7.64% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 19.63% | 17.70% | +1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.49% | 20.96% | +2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.58% | 18.69% | +1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.53% | 17.45% | +1.08% |
FJPCX vs. EWJ - Expense Ratio Comparison
FJPCX has a 2.09% expense ratio, which is higher than EWJ's 0.49% expense ratio.
Dividends
FJPCX vs. EWJ - Dividend Comparison
FJPCX's dividend yield for the trailing twelve months is around 7.59%, more than EWJ's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWJ iShares MSCI Japan ETF | 3.86% | 4.52% | 2.34% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% |
FJPCX Fidelity Advisor Japan Fund Class C | 7.59% | 9.16% | 3.93% | 2.96% | 0.00% | 10.33% | 1.25% | 0.22% | 0.00% | 0.25% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, FJPCX and EWJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FJPCX has higher volatility (8.49%) compared to EWJ (7.64%). In terms of maximum drawdown, FJPCX dropped -36.91% vs EWJ's -60.93%.
FJPCX currently has the higher Sharpe Ratio (1.51 vs 1.48), 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.
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