FJSCX vs. DFJSX

Last updated Jun 4, 2026

FJSCX (Fidelity Japan Smaller Companies Fund) and DFJSX (DFA Japanese Small Company Portfolio) are both Japan Equities funds. Over the past 10 years, FJSCX returned 9.25%/yr vs 8.65%/yr for DFJSX. A 0.78 correlation means they provide meaningful diversification when combined. FJSCX charges 0.91%/yr vs 0.42%/yr for DFJSX.

Performance

FJSCX vs. DFJSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Japan Smaller Companies Fund (FJSCX) 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, FJSCX achieves a 20.80% return, which is significantly higher than DFJSX's 12.93% return. Over the past 10 years, FJSCX has outperformed DFJSX with an annualized return of 9.25%, while DFJSX has yielded a comparatively lower 8.65% annualized return.

FJSCX

• 1D: 0.10%
• 1M: 6.57%
• YTD: 20.80%
• 6M: 21.31%
• 1Y: 33.77%
• 3Y*: 20.08%
• 5Y*: 10.03%
• 10Y*: 9.25%

DFJSX

• 1D: -0.75%
• 1M: 2.86%
• YTD: 12.93%
• 6M: 16.13%
• 1Y: 30.71%
• 3Y*: 20.03%
• 5Y*: 9.64%
• 10Y*: 8.65%

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

FJSCX vs. DFJSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FJSCX Fidelity Japan Smaller Companies Fund	20.80%	26.43%	8.03%	15.15%	-14.49%	-0.36%	4.80%	22.00%	-15.98%	34.56%
DFJSX DFA Japanese Small Company Portfolio	12.93%	31.65%	4.35%	17.08%	-11.36%	-0.39%	3.78%	18.23%	-19.56%	35.69%

Correlation

The correlation between FJSCX and DFJSX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Mar 29, 1996	0.78

The correlation between FJSCX and DFJSX shifts across timeframes, from 0.78 (all time) to 0.89 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FJSCX vs. DFJSX — Risk / Return Rank

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

FJSCX

FJSCX Risk / Return Rank: 39
FJSCX Sharpe Ratio Rank: 37
FJSCX Sortino Ratio Rank: 35
FJSCX Omega Ratio Rank: 35
FJSCX Calmar Ratio Rank: 44
FJSCX Martin Ratio Rank: 42

DFJSX

DFJSX Risk / Return Rank: 38
DFJSX Sharpe Ratio Rank: 39
DFJSX Sortino Ratio Rank: 38
DFJSX Omega Ratio Rank: 39
DFJSX Calmar Ratio Rank: 39
DFJSX Martin Ratio Rank: 33

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.

FJSCX vs. DFJSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Japan Smaller Companies Fund (FJSCX) 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.

	FJSCX	DFJSX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.83	-0.08
Sortino ratio: Return per unit of downside risk	2.46	2.60	-0.14
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	2.53	2.36	+0.16
Martin ratio: Return relative to average drawdown	9.00	7.54	+1.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FJSCX vs. DFJSX - Sharpe Ratio Comparison

The current FJSCX Sharpe Ratio is 1.76, which is comparable to the DFJSX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of FJSCX 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

	FJSCX	DFJSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.83	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.60	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.52	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.30	+0.02

Drawdowns

FJSCX vs. DFJSX - Drawdown Comparison

The maximum FJSCX drawdown since its inception was -71.42%, smaller than the maximum DFJSX drawdown of -76.17%. Use the drawdown chart below to compare losses from any high point for FJSCX and DFJSX.

Drawdown Indicators

	FJSCX	DFJSX	Difference
Max Drawdown Largest peak-to-trough decline	-71.42%	-76.17%	+4.75%
Max Drawdown (1Y) Largest decline over 1 year	-12.79%	-12.53%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	-15.08%	-13.31%	-1.77%
Max Drawdown (5Y) Largest decline over 5 years	-29.74%	-31.39%	+1.65%
Max Drawdown (10Y) Largest decline over 10 years	-32.10%	-40.32%	+8.22%
Current Drawdown Current decline from peak	-0.93%	-3.94%	+3.01%
Average Drawdown Average peak-to-trough decline	-26.65%	-30.09%	+3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	3.91%	-0.32%

Volatility

FJSCX vs. DFJSX - Volatility Comparison

Fidelity Japan Smaller Companies Fund (FJSCX) has a higher volatility of 4.83% compared to DFA Japanese Small Company Portfolio (DFJSX) at 3.51%. This indicates that FJSCX'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

	FJSCX	DFJSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	3.51%	+1.32%
Volatility (6M) Calculated over the trailing 6-month period	14.79%	12.46%	+2.33%
Volatility (1Y) Calculated over the trailing 1-year period	18.46%	16.25%	+2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	16.15%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.01%	16.59%	-0.58%

FJSCX vs. DFJSX - Expense Ratio Comparison

FJSCX has a 0.91% expense ratio, which is higher than DFJSX's 0.42% expense ratio.

Dividends

FJSCX vs. DFJSX - Dividend Comparison

FJSCX's dividend yield for the trailing twelve months is around 14.58%, more than DFJSX's 3.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFJSX DFA Japanese Small Company Portfolio	3.09%	3.49%	3.16%	6.45%	5.44%	5.26%	2.14%	3.98%	7.50%	2.41%	1.97%	1.38%
FJSCX Fidelity Japan Smaller Companies Fund	14.58%	17.62%	4.54%	2.82%	0.05%	12.01%	1.59%	7.13%	5.55%	3.91%	2.83%	1.43%

Frequently Asked Questions

Can I hold both FJSCX and DFJSX in my portfolio?

FJSCX and DFJSX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FJSCX or DFJSX?

FJSCX has higher volatility (4.83%) compared to DFJSX (3.51%). In terms of maximum drawdown, FJSCX dropped -71.42% vs DFJSX's -76.17%.

Which has better risk-adjusted returns?

DFJSX currently has the higher Sharpe Ratio (1.83 vs 1.76), 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.