FJSCX vs. FIQLX

Last updated Jun 3, 2026

FJSCX (Fidelity Japan Smaller Companies Fund) and FIQLX (Fidelity Advisor Japan Fund Class Z) are both Japan Equities funds from Fidelity. Over the past 5 years, FJSCX returned 10.01%/yr vs 10.50%/yr for FIQLX. Their correlation of 0.92 suggests significant overlap in exposure. FJSCX charges 0.91%/yr vs 0.96%/yr for FIQLX.

Performance

FJSCX vs. FIQLX - Performance Comparison

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

Returns By Period

In the year-to-date period, FJSCX achieves a 20.68% return, which is significantly lower than FIQLX's 24.66% return.

FJSCX

• 1D: -0.30%
• 1M: 6.41%
• YTD: 20.68%
• 6M: 21.25%
• 1Y: 32.01%
• 3Y*: 20.04%
• 5Y*: 10.01%
• 10Y*: 9.24%

FIQLX

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

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

FJSCX vs. FIQLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FJSCX Fidelity Japan Smaller Companies Fund	20.68%	26.43%	8.03%	15.15%	-14.49%	-0.36%	4.80%	22.00%	-9.99%
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%

Correlation

The correlation between FJSCX and FIQLX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.92

The correlation between FJSCX and FIQLX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

FJSCX vs. FIQLX — Risk / Return Rank

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

FJSCX

FJSCX Risk / Return Rank: 44
FJSCX Sharpe Ratio Rank: 41
FJSCX Sortino Ratio Rank: 39
FJSCX Omega Ratio Rank: 38
FJSCX Calmar Ratio Rank: 53
FJSCX Martin Ratio Rank: 47

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

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. FIQLX - Risk-Adjusted Trends Comparison

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

	FJSCX	FIQLX	Difference
Sharpe ratio Return per unit of total volatility	1.88	2.16	-0.28
Sortino ratio Return per unit of downside risk	2.61	2.91	-0.30
Omega ratio Gain probability vs. loss probability	1.33	1.38	-0.05
Calmar ratio Return relative to maximum drawdown	2.79	3.64	-0.85
Martin ratio Return relative to average drawdown	9.95	13.91	-3.96
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. FIQLX - Sharpe Ratio Comparison

The current FJSCX Sharpe Ratio is 1.88, which is comparable to the FIQLX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of FJSCX 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.

Sharpe Ratios by Period

	FJSCX	FIQLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	2.16	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.53	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.59	-0.27

Drawdowns

FJSCX vs. FIQLX - Drawdown Comparison

The maximum FJSCX drawdown since its inception was -71.42%, which is greater than FIQLX's maximum drawdown of -36.13%. Use the drawdown chart below to compare losses from any high point for FJSCX and FIQLX.

Drawdown Indicators

	FJSCX	FIQLX	Difference
Max Drawdown Largest peak-to-trough decline	-71.42%	-36.13%	-35.29%
Max Drawdown (1Y) Largest decline over 1 year	-12.79%	-12.73%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	-15.08%	-19.14%	+4.06%
Max Drawdown (5Y) Largest decline over 5 years	-29.74%	-36.13%	+6.39%
Max Drawdown (10Y) Largest decline over 10 years	-32.10%	—	—
Current Drawdown Current decline from peak	-1.03%	-1.52%	+0.49%
Average Drawdown Average peak-to-trough decline	-26.65%	-10.30%	-16.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	3.33%	+0.26%

Volatility

FJSCX vs. FIQLX - Volatility Comparison

The current volatility for Fidelity Japan Smaller Companies Fund (FJSCX) is 5.02%, while Fidelity Advisor Japan Fund Class Z (FIQLX) has a volatility of 5.32%. This indicates that FJSCX experiences smaller price fluctuations and is considered to be less risky than FIQLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJSCX	FIQLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	5.32%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	14.81%	16.35%	-1.54%
Volatility (1Y) Calculated over the trailing 1-year period	18.50%	21.23%	-2.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	19.96%	-2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	19.86%	-3.84%

FJSCX vs. FIQLX - Expense Ratio Comparison

FJSCX has a 0.91% expense ratio, which is lower than FIQLX's 0.96% expense ratio.

Dividends

FJSCX vs. FIQLX - Dividend Comparison

FJSCX's dividend yield for the trailing twelve months is around 14.60%, more than FIQLX's 8.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
FJSCX Fidelity Japan Smaller Companies Fund	14.60%	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 FIQLX in my portfolio?

With a correlation of 0.91, FJSCX 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, FJSCX or FIQLX?

FIQLX has higher volatility (5.32%) compared to FJSCX (5.02%). In terms of maximum drawdown, FJSCX dropped -71.42% vs FIQLX's -36.13%.

Which has better risk-adjusted returns?

FIQLX currently has the higher Sharpe Ratio (2.16 vs 1.88), 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.