FZAJX vs. GQJPX

Last updated Jun 3, 2026

FZAJX (Fidelity Advisor International Growth Fund Class Z) and GQJPX (GQG Partners International Quality Dividend Income Fund) are both Foreign Large Cap Equities funds. Over the past 3 years, FZAJX returned 12.03%/yr vs 17.05%/yr for GQJPX. A 0.67 correlation means they provide meaningful diversification when combined. FZAJX charges 0.87%/yr vs 0.91%/yr for GQJPX.

Performance

FZAJX vs. GQJPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Growth Fund Class Z (FZAJX) and GQG Partners International Quality Dividend Income Fund (GQJPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FZAJX having a 5.92% return and GQJPX slightly higher at 6.21%.

FZAJX

• 1D: -1.28%
• 1M: 0.54%
• YTD: 5.92%
• 6M: 8.29%
• 1Y: 13.02%
• 3Y*: 12.03%
• 5Y*: 5.38%
• 10Y*: 9.26%

GQJPX

• 1D: 0.16%
• 1M: -1.11%
• YTD: 6.21%
• 6M: 7.48%
• 1Y: 15.50%
• 3Y*: 17.05%
• 5Y*: —
• 10Y*: —

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

FZAJX vs. GQJPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FZAJX Fidelity Advisor International Growth Fund Class Z	5.92%	18.02%	5.02%	21.03%	-23.11%	5.66%
GQJPX GQG Partners International Quality Dividend Income Fund	6.21%	24.88%	7.39%	18.06%	-10.50%	1.05%

Correlation

The correlation between FZAJX and GQJPX is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.67

The correlation between FZAJX and GQJPX shifts across timeframes, from 0.55 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FZAJX vs. GQJPX — Risk / Return Rank

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

FZAJX

FZAJX Risk / Return Rank: 10
FZAJX Sharpe Ratio Rank: 9
FZAJX Sortino Ratio Rank: 10
FZAJX Omega Ratio Rank: 9
FZAJX Calmar Ratio Rank: 9
FZAJX Martin Ratio Rank: 12

GQJPX

GQJPX Risk / Return Rank: 25
GQJPX Sharpe Ratio Rank: 28
GQJPX Sortino Ratio Rank: 25
GQJPX Omega Ratio Rank: 28
GQJPX Calmar Ratio Rank: 23
GQJPX Martin Ratio Rank: 22

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.

FZAJX vs. GQJPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Growth Fund Class Z (FZAJX) and GQG Partners International Quality Dividend Income Fund (GQJPX). 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.

	FZAJX	GQJPX	Difference
Sharpe ratio Return per unit of total volatility	0.76	1.50	-0.74
Sortino ratio Return per unit of downside risk	1.20	2.09	-0.89
Omega ratio Gain probability vs. loss probability	1.15	1.27	-0.13
Calmar ratio Return relative to maximum drawdown	0.97	1.79	-0.82
Martin ratio Return relative to average drawdown	3.58	5.68	-2.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FZAJX vs. GQJPX - Sharpe Ratio Comparison

The current FZAJX Sharpe Ratio is 0.76, which is lower than the GQJPX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of FZAJX and GQJPX, 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

	FZAJX	GQJPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.76	1.50	-0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.70	-0.20

Drawdowns

FZAJX vs. GQJPX - Drawdown Comparison

The maximum FZAJX drawdown since its inception was -34.84%, which is greater than GQJPX's maximum drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for FZAJX and GQJPX.

Drawdown Indicators

	FZAJX	GQJPX	Difference
Max Drawdown Largest peak-to-trough decline	-34.84%	-21.83%	-13.01%
Max Drawdown (1Y) Largest decline over 1 year	-13.96%	-8.56%	-5.40%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-9.45%	-7.06%
Max Drawdown (5Y) Largest decline over 5 years	-34.84%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.84%	—	—
Current Drawdown Current decline from peak	-3.34%	-5.19%	+1.85%
Average Drawdown Average peak-to-trough decline	-6.64%	-5.52%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	2.69%	+1.07%

Volatility

FZAJX vs. GQJPX - Volatility Comparison

Fidelity Advisor International Growth Fund Class Z (FZAJX) has a higher volatility of 7.23% compared to GQG Partners International Quality Dividend Income Fund (GQJPX) at 2.73%. This indicates that FZAJX's price experiences larger fluctuations and is considered to be riskier than GQJPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZAJX	GQJPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	2.73%	+4.50%
Volatility (6M) Calculated over the trailing 6-month period	15.86%	8.30%	+7.56%
Volatility (1Y) Calculated over the trailing 1-year period	18.25%	10.22%	+8.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.08%	12.95%	+5.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.83%	12.95%	+4.88%

FZAJX vs. GQJPX - Expense Ratio Comparison

FZAJX has a 0.87% expense ratio, which is lower than GQJPX's 0.91% expense ratio.

Dividends

FZAJX vs. GQJPX - Dividend Comparison

FZAJX's dividend yield for the trailing twelve months is around 3.45%, less than GQJPX's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FZAJX Fidelity Advisor International Growth Fund Class Z	3.45%	3.65%	1.00%	0.61%	1.81%	2.03%	0.22%	1.11%	1.04%	0.12%	1.40%	0.92%
GQJPX GQG Partners International Quality Dividend Income Fund	3.91%	3.22%	3.35%	4.50%	5.59%	1.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FZAJX and GQJPX in my portfolio?

FZAJX and GQJPX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FZAJX or GQJPX?

FZAJX has higher volatility (7.23%) compared to GQJPX (2.73%). In terms of maximum drawdown, FZAJX dropped -34.84% vs GQJPX's -21.83%.

Which has better risk-adjusted returns?

GQJPX currently has the higher Sharpe Ratio (1.50 vs 0.76), 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.