FSJPX vs. FZROX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity SAI Japan Stock Index Fund (FSJPX) and Fidelity ZERO Total Market Index Fund (FZROX).

FSJPX is managed by Fidelity. It was launched on Jun 24, 2021. FZROX is managed by Fidelity.

Performance

FSJPX vs. FZROX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Japan Stock Index Fund (FSJPX) and Fidelity ZERO Total Market Index Fund (FZROX). The values are adjusted to include any dividend payments, if applicable.

FSJPX vs. FZROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSJPX Fidelity SAI Japan Stock Index Fund	1.35%	26.39%	7.19%	20.25%	-17.02%	1.16%
FZROX Fidelity ZERO Total Market Index Fund	-6.77%	17.23%	23.94%	26.20%	-19.21%	12.26%

Returns By Period

In the year-to-date period, FSJPX achieves a 1.35% return, which is significantly higher than FZROX's -6.77% return.

FSJPX

• 1D: 0.00%
• 1M: -11.85%
• YTD: 1.35%
• 6M: 4.96%
• 1Y: 25.05%
• 3Y*: 15.42%
• 5Y*: —
• 10Y*: —

FZROX

• 1D: -0.45%
• 1M: -7.71%
• YTD: -6.77%
• 6M: -4.49%
• 1Y: 14.82%
• 3Y*: 16.81%
• 5Y*: 10.36%
• 10Y*: —

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

FSJPX vs. FZROX - Expense Ratio Comparison

FSJPX has a 0.11% expense ratio, which is higher than FZROX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

FSJPX

Fidelity SAI Japan Stock Index Fund

FZROX

Fidelity ZERO Total Market Index Fund

Return for Risk

FSJPX vs. FZROX — Risk / Return Rank

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

FSJPX

FSJPX Risk / Return Rank: 59
FSJPX Sharpe Ratio Rank: 58
FSJPX Sortino Ratio Rank: 59
FSJPX Omega Ratio Rank: 51
FSJPX Calmar Ratio Rank: 67
FSJPX Martin Ratio Rank: 58

FZROX

FZROX Risk / Return Rank: 46
FZROX Sharpe Ratio Rank: 41
FZROX Sortino Ratio Rank: 45
FZROX Omega Ratio Rank: 49
FZROX Calmar Ratio Rank: 41
FZROX Martin Ratio Rank: 53

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.

FSJPX vs. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Japan Stock Index Fund (FSJPX) and Fidelity ZERO Total Market Index Fund (FZROX). 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.

	FSJPX	FZROX	Difference
Sharpe ratio Return per unit of total volatility	1.07	0.84	+0.24
Sortino ratio Return per unit of downside risk	1.57	1.30	+0.27
Omega ratio Gain probability vs. loss probability	1.21	1.20	+0.01
Calmar ratio Return relative to maximum drawdown	1.57	1.05	+0.52
Martin ratio Return relative to average drawdown	5.61	5.11	+0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSJPX vs. FZROX - Sharpe Ratio Comparison

The current FSJPX Sharpe Ratio is 1.07, which is comparable to the FZROX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of FSJPX and FZROX, 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

	FSJPX	FZROX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	0.84	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.61	-0.22

Correlation

The correlation between FSJPX and FZROX is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FSJPX vs. FZROX - Dividend Comparison

FSJPX's dividend yield for the trailing twelve months is around 5.18%, more than FZROX's 1.10% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
FSJPX Fidelity SAI Japan Stock Index Fund	5.18%	5.25%	2.26%	4.10%	2.28%	0.97%	0.00%	0.00%
FZROX Fidelity ZERO Total Market Index Fund	1.10%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%

Drawdowns

FSJPX vs. FZROX - Drawdown Comparison

The maximum FSJPX drawdown since its inception was -32.91%, smaller than the maximum FZROX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FSJPX and FZROX.

Drawdown Indicators

	FSJPX	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	-32.91%	-34.96%	+2.05%
Max Drawdown (1Y) Largest decline over 1 year	-13.59%	-12.44%	-1.15%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.12%	—
Current Drawdown Current decline from peak	-12.94%	-8.89%	-4.05%
Average Drawdown Average peak-to-trough decline	-10.05%	-5.61%	-4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	2.56%	+1.28%

Volatility

FSJPX vs. FZROX - Volatility Comparison

Fidelity SAI Japan Stock Index Fund (FSJPX) has a higher volatility of 9.26% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 4.41%. This indicates that FSJPX's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSJPX	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.26%	4.41%	+4.85%
Volatility (6M) Calculated over the trailing 6-month period	15.63%	9.34%	+6.29%
Volatility (1Y) Calculated over the trailing 1-year period	22.07%	18.49%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	17.40%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	20.25%	-2.04%