FSJPX vs. MASGX

Last updated Jul 17, 2026

FSJPX (Fidelity SAI Japan Stock Index Fund) and MASGX (Matthews Asia ESG Fund) are both mutual funds - FSJPX is a Japan Equities fund managed by Fidelity, while MASGX is a Asia Pacific Equities fund managed by Matthews. Over the past 5 years, FSJPX returned 9.79%/yr vs 7.16%/yr for MASGX. A 0.53 correlation means they provide meaningful diversification when combined. FSJPX charges 0.11%/yr vs 1.24%/yr for MASGX.

Performance

FSJPX vs. MASGX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSJPX achieves a 16.67% return, which is significantly lower than MASGX's 38.70% return.

FSJPX

• 1D: -0.22%
• 1M: -0.43%
• 6M: 9.62%
• YTD: 16.67%
• 1Y: 35.86%
• 3Y*: 18.19%
• 5Y*: 9.79%
• 10Y*: —

MASGX

• 1D: 0.42%
• 1M: -4.76%
• 6M: 29.89%
• YTD: 38.70%
• 1Y: 51.46%
• 3Y*: 17.22%
• 5Y*: 7.16%
• 10Y*: 11.83%

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

FSJPX vs. MASGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSJPX Fidelity SAI Japan Stock Index Fund	16.67%	26.39%	7.19%	20.25%	-17.02%	1.16%
MASGX Matthews Asia ESG Fund	38.70%	22.83%	-2.51%	7.99%	-14.37%	-3.93%

Correlation

The correlation between FSJPX and MASGX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since May 27, 2021	0.53

The correlation between FSJPX and MASGX has been stable across timeframes, ranging from 0.53 to 0.57 - a consistent structural relationship.

Return for Risk

FSJPX vs. MASGX — Risk / Return Rank

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

FSJPX

FSJPX Risk / Return Rank: 57
FSJPX Sharpe Ratio Rank: 53
FSJPX Sortino Ratio Rank: 50
FSJPX Omega Ratio Rank: 52
FSJPX Calmar Ratio Rank: 72
FSJPX Martin Ratio Rank: 57

MASGX

MASGX Risk / Return Rank: 78
MASGX Sharpe Ratio Rank: 77
MASGX Sortino Ratio Rank: 64
MASGX Omega Ratio Rank: 75
MASGX Calmar Ratio Rank: 91
MASGX Martin Ratio Rank: 84

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. MASGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Japan Stock Index Fund (FSJPX) and Matthews Asia ESG Fund (MASGX). 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.

	FSJPX	MASGX	Difference
Sharpe ratio: Return per unit of total volatility	1.66	2.05	-0.39
Sortino ratio: Return per unit of downside risk	2.30	2.55	-0.26
Omega ratio: Gain probability vs. loss probability	1.30	1.37	-0.07
Calmar ratio: Return relative to maximum drawdown	2.70	3.80	-1.10
Martin ratio: Return relative to average drawdown	9.18	12.07	-2.89

FSJPX vs. MASGX - Sharpe Ratio Comparison

The current FSJPX Sharpe Ratio is 1.66, which is comparable to the MASGX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of FSJPX and MASGX, 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

FSJPX vs. MASGX - Drawdown Comparison

The maximum FSJPX drawdown since its inception was -32.91%, smaller than the maximum MASGX drawdown of -36.34%. Use the drawdown chart below to compare losses from any high point for FSJPX and MASGX.

Drawdown Indicators

	FSJPX	MASGX	Difference
Max Drawdown Largest peak-to-trough decline	-32.91%	-36.34%	+3.43%
Max Drawdown (1Y) Largest decline over 1 year	-13.59%	-14.20%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-15.45%	-24.94%	+9.49%
Max Drawdown (5Y) Largest decline over 5 years	-32.91%	-36.34%	+3.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.34%	—
Current Drawdown Current decline from peak	-3.70%	-10.07%	+6.37%
Average Drawdown Average peak-to-trough decline	-9.68%	-11.17%	+1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	4.41%	-0.43%

Volatility

FSJPX vs. MASGX - Volatility Comparison

The current volatility for Fidelity SAI Japan Stock Index Fund (FSJPX) is 7.92%, while Matthews Asia ESG Fund (MASGX) has a volatility of 11.97%. This indicates that FSJPX experiences smaller price fluctuations and is considered to be less risky than MASGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSJPX	MASGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	11.97%	-4.05%
Volatility (6M) Calculated over the trailing 6-month period	17.58%	23.99%	-6.41%
Volatility (1Y) Calculated over the trailing 1-year period	22.20%	26.41%	-4.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.75%	21.87%	-3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.62%	19.26%	-0.64%

FSJPX vs. MASGX - Expense Ratio Comparison

FSJPX has a 0.11% expense ratio, which is lower than MASGX's 1.24% expense ratio.

Dividends

FSJPX vs. MASGX - Dividend Comparison

FSJPX's dividend yield for the trailing twelve months is around 4.50%, more than MASGX's 4.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FSJPX Fidelity SAI Japan Stock Index Fund	4.50%	5.25%	2.26%	4.10%	2.28%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%
MASGX Matthews Asia ESG Fund	4.02%	5.58%	2.58%	7.52%	5.39%	2.60%	5.66%	1.36%	4.52%	3.70%	1.47%

Frequently Asked Questions

Can I hold both FSJPX and MASGX in my portfolio?

FSJPX and MASGX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSJPX or MASGX?

MASGX has higher volatility (11.97%) compared to FSJPX (7.92%). In terms of maximum drawdown, FSJPX dropped -32.91% vs MASGX's -36.34%.

Which has better risk-adjusted returns?

MASGX currently has the higher Sharpe Ratio (2.05 vs 1.66), 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.