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FJSCX vs. EWJV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FJSCX vs. EWJV

Last updated Jun 23, 2026

FJSCX (Fidelity Japan Smaller Companies Fund) and EWJV (iShares MSCI Japan Value ETF) are both Japan Equities funds. Over the past 5 years, FJSCX returned 11.14%/yr vs 14.44%/yr for EWJV. A 0.72 correlation means they provide meaningful diversification when combined. FJSCX charges 0.91%/yr vs 0.15%/yr for EWJV.

Performance

FJSCX vs. EWJV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Japan Smaller Companies Fund (FJSCX) and iShares MSCI Japan Value ETF (EWJV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FJSCX achieves a 26.04% return, which is significantly higher than EWJV's 15.87% return.

FJSCX

1D
1.68%
1M
5.86%
YTD
26.04%
6M
26.19%
1Y
39.82%
3Y*
20.82%
5Y*
11.14%
10Y*
9.69%

EWJV

1D
-0.25%
1M
1.85%
YTD
15.87%
6M
16.46%
1Y
42.00%
3Y*
24.18%
5Y*
14.44%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FJSCX vs. EWJV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FJSCX
Fidelity Japan Smaller Companies Fund		26.04%26.43%8.03%15.15%-14.49%-0.36%4.80%13.59%
EWJV
iShares MSCI Japan Value ETF		15.87%33.96%11.59%23.60%-6.02%5.48%2.41%9.40%

Correlation

The correlation between FJSCX and EWJV is 0.76, 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

0.76

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.77

Correlation (All Time)
Calculated using the full available price history since Mar 7, 2019

0.72

The correlation between FJSCX and EWJV has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Japan Smaller Companies Fund

iShares MSCI Japan Value ETF

Often compared with FJSCX:
FJSCX vs. DFJFJSCX vs. DXJSFJSCX vs. DBJPFJSCX vs. PRJPXFJSCX vs. SCJFJSCX vs. FNORXFJSCX vs. FSELX
Often compared with EWJV:
EWJV vs. EWJEWJV vs. DXJEWJV vs. FLJPEWJV vs. BBJPEWJV vs. HEWJEWJV vs. FLJHEWJV vs. DFJ

Return for Risk

FJSCX vs. EWJV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FJSCX
FJSCX Risk / Return Rank: 5555
Overall Rank
FJSCX Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
FJSCX Sortino Ratio Rank: 5050
Sortino Ratio Rank
FJSCX Omega Ratio Rank: 5050
Omega Ratio Rank
FJSCX Calmar Ratio Rank: 6666
Calmar Ratio Rank
FJSCX Martin Ratio Rank: 5555
Martin Ratio Rank
EWJV
EWJV Risk / Return Rank: 6464
Overall Rank
EWJV Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
EWJV Sortino Ratio Rank: 6969
Sortino Ratio Rank
EWJV Omega Ratio Rank: 7070
Omega Ratio Rank
EWJV Calmar Ratio Rank: 6060
Calmar Ratio Rank
EWJV Martin Ratio Rank: 5151
Martin Ratio Rank
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. EWJV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Japan Smaller Companies Fund (FJSCX) and iShares MSCI Japan Value ETF (EWJV). 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.

FJSCXEWJVDifference
Sharpe ratioReturn per unit of total volatility
1.99
2.17

-0.18

Sortino ratioReturn per unit of downside risk
2.75
3.03

-0.27

Omega ratioGain probability vs. loss probability

1.35

1.40

-0.05

Calmar ratioReturn relative to maximum drawdown

2.98

2.86

+0.12

Martin ratioReturn relative to average drawdown

10.52

8.53

+1.99

FJSCX vs. EWJV - Sharpe Ratio Comparison

The current FJSCX Sharpe Ratio is 1.99, which is comparable to the EWJV Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of FJSCX and EWJV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FJSCX vs. EWJV - Drawdown Comparison

The maximum FJSCX drawdown since its inception was -71.42%, which is greater than EWJV's maximum drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for FJSCX and EWJV.

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Drawdown Indicators

FJSCXEWJVDifference

Max Drawdown

Largest peak-to-trough decline

-71.42%

-30.05%

-41.37%

Max Drawdown (1Y)

Largest decline over 1 year

-12.79%

-14.74%

+1.95%

Max Drawdown (3Y)

Largest decline over 3 years

-15.08%

-14.74%

-0.34%

Max Drawdown (5Y)

Largest decline over 5 years

-29.74%

-25.39%

-4.35%

Max Drawdown (10Y)

Largest decline over 10 years

-32.10%

—

—

Current Drawdown

Current decline from peak

0.00%

-3.24%

+3.24%

Average Drawdown

Average peak-to-trough decline

-26.61%

-6.18%

-20.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.62%

4.94%

-1.32%

Volatility

FJSCX vs. EWJV - Volatility Comparison

Fidelity Japan Smaller Companies Fund (FJSCX) has a higher volatility of 6.91% compared to iShares MSCI Japan Value ETF (EWJV) at 4.89%. This indicates that FJSCX's price experiences larger fluctuations and is considered to be riskier than EWJV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FJSCXEWJVDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.91%

4.89%

+2.02%

Volatility (6M)

Calculated over the trailing 6-month period

15.61%

14.88%

+0.73%

Volatility (1Y)

Calculated over the trailing 1-year period

19.20%

19.48%

-0.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.52%

18.03%

-0.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.11%

18.54%

-2.43%

FJSCX vs. EWJV - Expense Ratio Comparison

FJSCX has a 0.91% expense ratio, which is higher than EWJV's 0.15% expense ratio.

Dividends

FJSCX vs. EWJV - Dividend Comparison

FJSCX's dividend yield for the trailing twelve months is around 13.98%, more than EWJV's 4.90% yield.

PositionTTM20252024202320222021202020192018201720162015
EWJV
iShares MSCI Japan Value ETF		4.90%5.35%4.10%3.32%2.71%2.46%1.96%4.29%0.00%0.00%0.00%0.00%
FJSCX
Fidelity Japan Smaller Companies Fund		13.98%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

FJSCX and EWJV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FJSCX has higher volatility (6.91%) compared to EWJV (4.89%). In terms of maximum drawdown, FJSCX dropped -71.42% vs EWJV's -30.05%.

EWJV currently has the higher Sharpe Ratio (2.17 vs 1.99), 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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