FJPIX vs. FIQLX

Last updated Jun 23, 2026

FJPIX (Fidelity Advisor Japan Fund Class I) and FIQLX (Fidelity Advisor Japan Fund Class Z) are both Japan Equities funds from Fidelity. Over the past 5 years, FJPIX returned 11.51%/yr vs 11.65%/yr for FIQLX. With a 1.00 correlation, they move nearly in lockstep. FJPIX charges 1.04%/yr vs 0.96%/yr for FIQLX.

Performance

FJPIX vs. FIQLX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with FJPIX having a 29.56% return and FIQLX slightly higher at 29.63%.

FJPIX

• 1D: 1.80%
• 1M: 5.27%
• YTD: 29.56%
• 6M: 29.95%
• 1Y: 51.72%
• 3Y*: 22.66%
• 5Y*: 11.51%
• 10Y*: 11.91%

FIQLX

• 1D: 1.79%
• 1M: 5.27%
• YTD: 29.63%
• 6M: 30.03%
• 1Y: 51.94%
• 3Y*: 22.83%
• 5Y*: 11.65%
• 10Y*: —

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

FJPIX vs. FIQLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FJPIX Fidelity Advisor Japan Fund Class I	29.56%	31.61%	7.29%	15.88%	-22.22%	3.18%	25.56%	25.71%	-11.46%
FIQLX Fidelity Advisor Japan Fund Class Z	29.63%	31.84%	7.43%	16.09%	-22.16%	3.32%	25.58%	25.93%	-11.46%

Correlation

The correlation between FJPIX and FIQLX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	1.00

The correlation between FJPIX and FIQLX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FJPIX vs. FIQLX — Risk / Return Rank

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

FJPIX

FJPIX Risk / Return Rank: 71
FJPIX Sharpe Ratio Rank: 69
FJPIX Sortino Ratio Rank: 59
FJPIX Omega Ratio Rank: 58
FJPIX Calmar Ratio Rank: 86
FJPIX Martin Ratio Rank: 83

FIQLX

FIQLX Risk / Return Rank: 71
FIQLX Sharpe Ratio Rank: 69
FIQLX Sortino Ratio Rank: 60
FIQLX Omega Ratio Rank: 58
FIQLX Calmar Ratio Rank: 86
FIQLX Martin Ratio Rank: 83

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.

FJPIX vs. FIQLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Japan Fund Class I (FJPIX) and Fidelity Advisor Japan Fund Class Z (FIQLX). 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.

	FJPIX	FIQLX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.23	-0.01
Sortino ratio: Return per unit of downside risk	2.96	2.97	-0.01
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	3.85	3.87	-0.02
Martin ratio: Return relative to average drawdown	14.32	14.40	-0.08

FJPIX vs. FIQLX - Sharpe Ratio Comparison

The current FJPIX Sharpe Ratio is 2.22, which is comparable to the FIQLX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of FJPIX and FIQLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FJPIX vs. FIQLX - Drawdown Comparison

The maximum FJPIX drawdown since its inception was -36.13%, roughly equal to the maximum FIQLX drawdown of -36.13%. Use the drawdown chart below to compare losses from any high point for FJPIX and FIQLX.

Drawdown Indicators

	FJPIX	FIQLX	Difference
Max Drawdown Largest peak-to-trough decline	-36.13%	-36.13%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-12.77%	-12.73%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-19.16%	-19.14%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-36.13%	-36.13%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-36.13%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.63%	-10.24%	+0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	3.42%	+0.01%

Volatility

FJPIX vs. FIQLX - Volatility Comparison

Fidelity Advisor Japan Fund Class I (FJPIX) and Fidelity Advisor Japan Fund Class Z (FIQLX) have volatilities of 7.94% and 7.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJPIX	FIQLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.94%	7.95%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	17.53%	17.51%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	22.13%	22.11%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.18%	20.18%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	19.95%	-1.58%

FJPIX vs. FIQLX - Expense Ratio Comparison

FJPIX has a 1.04% expense ratio, which is higher than FIQLX's 0.96% expense ratio.

Dividends

FJPIX vs. FIQLX - Dividend Comparison

FJPIX's dividend yield for the trailing twelve months is around 7.54%, less than FIQLX's 7.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIQLX Fidelity Advisor Japan Fund Class Z	7.75%	10.04%	5.04%	3.88%	0.00%	11.89%	1.97%	1.35%	0.48%	0.00%	0.00%	0.00%
FJPIX Fidelity Advisor Japan Fund Class I	7.54%	9.77%	4.27%	3.69%	0.00%	10.54%	1.91%	1.27%	0.32%	0.23%	1.20%	0.60%

Frequently Asked Questions

Can I hold both FJPIX and FIQLX in my portfolio?

With a correlation of 1.00, FJPIX and FIQLX 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.

Which is riskier, FJPIX or FIQLX?

FIQLX has higher volatility (7.95%) compared to FJPIX (7.94%). In terms of maximum drawdown, FJPIX dropped -36.13% vs FIQLX's -36.13%.

Which has better risk-adjusted returns?

FIQLX currently has the higher Sharpe Ratio (2.23 vs 2.22), 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.