FPJAX vs. EWJV

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Japan Fund Class A (FPJAX) and iShares MSCI Japan Value ETF (EWJV).

FPJAX is managed by Fidelity. It was launched on Dec 14, 2010. EWJV is a passively managed fund by iShares that tracks the performance of the MSCI Japan Value Index. It was launched on Mar 5, 2019.

Performance

FPJAX vs. EWJV - Performance Comparison

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

FPJAX vs. EWJV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FPJAX Fidelity Advisor Japan Fund Class A	2.55%	31.28%	7.02%	15.59%	-22.48%	2.86%	25.03%	16.63%
EWJV iShares MSCI Japan Value ETF	7.42%	33.96%	11.59%	23.60%	-6.02%	5.48%	2.41%	10.48%

Returns By Period

In the year-to-date period, FPJAX achieves a 2.55% return, which is significantly lower than EWJV's 7.42% return.

FPJAX

• 1D: 0.00%
• 1M: -12.75%
• YTD: 2.55%
• 6M: 5.80%
• 1Y: 32.36%
• 3Y*: 15.77%
• 5Y*: 5.76%
• 10Y*: 9.58%

EWJV

• 1D: 3.49%
• 1M: -7.60%
• YTD: 7.42%
• 6M: 14.01%
• 1Y: 35.29%
• 3Y*: 23.58%
• 5Y*: 12.70%
• 10Y*: —

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

FPJAX vs. EWJV - Expense Ratio Comparison

FPJAX has a 1.38% expense ratio, which is higher than EWJV's 0.15% expense ratio.

FPJAX

Fidelity Advisor Japan Fund Class A

EWJV

iShares MSCI Japan Value ETF

Return for Risk

FPJAX vs. EWJV — Risk / Return Rank

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

FPJAX

FPJAX Risk / Return Rank: 77
FPJAX Sharpe Ratio Rank: 76
FPJAX Sortino Ratio Rank: 75
FPJAX Omega Ratio Rank: 69
FPJAX Calmar Ratio Rank: 83
FPJAX Martin Ratio Rank: 81

EWJV

EWJV Risk / Return Rank: 84
EWJV Sharpe Ratio Rank: 85
EWJV Sortino Ratio Rank: 87
EWJV Omega Ratio Rank: 84
EWJV Calmar Ratio Rank: 84
EWJV Martin Ratio Rank: 81

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.

FPJAX vs. EWJV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Japan Fund Class A (FPJAX) 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.

	FPJAX	EWJV	Difference
Sharpe ratio Return per unit of total volatility	1.36	1.64	-0.29
Sortino ratio Return per unit of downside risk	1.86	2.29	-0.43
Omega ratio Gain probability vs. loss probability	1.26	1.32	-0.06
Calmar ratio Return relative to maximum drawdown	2.04	2.30	-0.26
Martin ratio Return relative to average drawdown	8.02	8.46	-0.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPJAX vs. EWJV - Sharpe Ratio Comparison

The current FPJAX Sharpe Ratio is 1.36, which is comparable to the EWJV Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of FPJAX and EWJV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FPJAX	EWJV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	1.64	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.71	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.65	-0.28

Correlation

The correlation between FPJAX and EWJV is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FPJAX vs. EWJV - Dividend Comparison

FPJAX's dividend yield for the trailing twelve months is around 9.49%, more than EWJV's 4.98% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPJAX Fidelity Advisor Japan Fund Class A	9.49%	9.73%	4.54%	3.47%	0.00%	11.39%	1.60%	0.98%	0.00%	0.23%	0.79%	0.47%
EWJV iShares MSCI Japan Value ETF	4.98%	5.35%	4.10%	3.32%	2.71%	2.46%	1.96%	4.29%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FPJAX vs. EWJV - Drawdown Comparison

The maximum FPJAX drawdown since its inception was -36.39%, which is greater than EWJV's maximum drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for FPJAX and EWJV.

Drawdown Indicators

	FPJAX	EWJV	Difference
Max Drawdown Largest peak-to-trough decline	-36.39%	-30.05%	-6.34%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	-14.74%	+1.99%
Max Drawdown (5Y) Largest decline over 5 years	-36.39%	-25.39%	-11.00%
Max Drawdown (10Y) Largest decline over 10 years	-36.39%	—	—
Current Drawdown Current decline from peak	-12.75%	-10.30%	-2.45%
Average Drawdown Average peak-to-trough decline	-9.99%	-6.17%	-3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	4.01%	-0.48%

Volatility

FPJAX vs. EWJV - Volatility Comparison

Fidelity Advisor Japan Fund Class A (FPJAX) has a higher volatility of 9.77% compared to iShares MSCI Japan Value ETF (EWJV) at 8.55%. This indicates that FPJAX'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.

Volatility by Period

	FPJAX	EWJV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.77%	8.55%	+1.22%
Volatility (6M) Calculated over the trailing 6-month period	16.16%	14.24%	+1.92%
Volatility (1Y) Calculated over the trailing 1-year period	22.83%	21.60%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.62%	17.90%	+1.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	18.50%	-0.34%