FPJAX vs. FJSCX

Last updated Aug 1, 2026

FPJAX (Fidelity Advisor Japan Fund Class A) and FJSCX (Fidelity Japan Smaller Companies Fund) are both Japan Equities funds from Fidelity. Over the past 10 years, FPJAX returned 10.32%/yr vs 8.71%/yr for FJSCX. Their correlation of 0.89 means they have usually moved in the same direction. FPJAX charges 1.38%/yr vs 0.91%/yr for FJSCX.

Performance

FPJAX vs. FJSCX - Performance Comparison

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

Returns By Period

In the year-to-date period, FPJAX achieves a 21.21% return, which is significantly higher than FJSCX's 20.14% return. Over the past 10 years, FPJAX has outperformed FJSCX with an annualized return of 10.32%, while FJSCX has yielded a comparatively lower 8.71% annualized return.

FPJAX

• 1D: 4.53%
• 1M: -2.18%
• 6M: 12.44%
• YTD: 21.21%
• 1Y: 35.95%
• 3Y*: 19.56%
• 5Y*: 9.49%
• 10Y*: 10.32%
• ALL TIME*: 7.60%

FJSCX

• 1D: 4.24%
• 1M: -2.18%
• 6M: 13.26%
• YTD: 20.14%
• 1Y: 26.31%
• 3Y*: 18.08%
• 5Y*: 9.72%
• 10Y*: 8.71%
• ALL TIME*: 6.26%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FJSCX Fidelity Japan Smaller Companies Fund	$0.00	$0.00	$0.00
FPJAX Fidelity Advisor Japan Fund Class A	$0.00	$0.00	$0.00

FPJAX vs. FJSCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPJAX Fidelity Advisor Japan Fund Class A	21.21%	31.28%	7.02%	15.59%	-22.48%	2.86%	25.03%	25.36%	-15.10%	29.20%
FJSCX Fidelity Japan Smaller Companies Fund	20.14%	26.43%	8.03%	15.15%	-14.49%	-0.36%	4.80%	22.00%	-15.98%	34.56%

Correlation

The correlation between FPJAX and FJSCX is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Dec 14, 2010	0.89

The correlation between FPJAX and FJSCX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

FPJAX vs. FJSCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FPJAX

FPJAX Risk / Return Rank: 69
FPJAX Sharpe Ratio Rank: 64
FPJAX Sortino Ratio Rank: 61
FPJAX Omega Ratio Rank: 61
FPJAX Calmar Ratio Rank: 84
FPJAX Martin Ratio Rank: 75

FJSCX

FJSCX Risk / Return Rank: 54
FJSCX Sharpe Ratio Rank: 50
FJSCX Sortino Ratio Rank: 49
FJSCX Omega Ratio Rank: 50
FJSCX Calmar Ratio Rank: 68
FJSCX Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FPJAX vs. FJSCX - Risk-Adjusted Trends Comparison

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

	FPJAX	FJSCX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.32	+0.23
Sortino ratio: Return per unit of downside risk	2.15	1.89	+0.26
Omega ratio: Gain probability vs. loss probability	1.28	1.24	+0.03
Calmar ratio: Return relative to maximum drawdown	2.85	2.18	+0.67
Martin ratio: Return relative to average drawdown	9.19	6.86	+2.33

FPJAX vs. FJSCX - Sharpe Ratio Comparison

The current FPJAX Sharpe Ratio is 1.54, which is comparable to the FJSCX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FPJAX and FJSCX, 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

FPJAX vs. FJSCX - Drawdown Comparison

The maximum FPJAX drawdown since its inception was -36.39%, smaller than the maximum FJSCX drawdown of -71.42%. Use the drawdown chart below to compare losses from any high point for FPJAX and FJSCX.

Drawdown Indicators

	FPJAX	FJSCX	Difference
Max Drawdown Largest peak-to-trough decline	-36.39%	-71.42%	+35.03%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	-12.79%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	-15.08%	-4.22%
Max Drawdown (5Y) Largest decline over 5 years	-36.39%	-29.74%	-6.65%
Max Drawdown (10Y) Largest decline over 10 years	-36.39%	-32.10%	-4.29%
Current Drawdown Current decline from peak	-7.08%	-6.45%	-0.63%
Average Drawdown Average peak-to-trough decline	-9.85%	-26.53%	+16.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	4.06%	-0.11%

Volatility

FPJAX vs. FJSCX - Volatility Comparison

Fidelity Advisor Japan Fund Class A (FPJAX) and Fidelity Japan Smaller Companies Fund (FJSCX) have volatilities of 8.50% and 8.43%, 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

	FPJAX	FJSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.50%	8.43%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	19.66%	17.94%	+1.72%
Volatility (1Y) Calculated over the trailing 1-year period	23.53%	21.17%	+2.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.56%	17.98%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	16.33%	+2.20%

FPJAX vs. FJSCX - Expense Ratio Comparison

FPJAX has a 1.38% expense ratio, which is higher than FJSCX's 0.91% expense ratio.

Dividends

FPJAX vs. FJSCX - Dividend Comparison

FPJAX's dividend yield for the trailing twelve months is around 8.03%, less than FJSCX's 14.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FJSCX Fidelity Japan Smaller Companies Fund	14.66%	17.62%	4.54%	2.82%	0.05%	12.01%	1.59%	7.13%	5.55%	3.91%	2.83%	1.43%
FPJAX Fidelity Advisor Japan Fund Class A	8.03%	9.73%	4.54%	3.47%	0.00%	11.39%	1.60%	0.98%	0.00%	0.23%	0.79%	0.47%

Frequently Asked Questions

Can I hold both FPJAX and FJSCX in my portfolio?

With a correlation of 0.92, FPJAX and FJSCX 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, FPJAX or FJSCX?

FPJAX has higher volatility (8.50%) compared to FJSCX (8.43%). In terms of maximum drawdown, FPJAX dropped -36.39% vs FJSCX's -71.42%.

Which has better risk-adjusted returns?

FPJAX currently has the higher Sharpe Ratio (1.54 vs 1.32), 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.