MEMX vs. FJSCX

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews Emerging Markets Ex China Active ETF (MEMX) and Fidelity Japan Smaller Companies Fund (FJSCX).

MEMX is an actively managed fund by Matthews. It was launched on Jan 10, 2023. FJSCX is managed by Fidelity. It was launched on Nov 1, 1995.

Performance

MEMX vs. FJSCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Emerging Markets Ex China Active ETF (MEMX) and Fidelity Japan Smaller Companies Fund (FJSCX). The values are adjusted to include any dividend payments, if applicable.

MEMX vs. FJSCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MEMX Matthews Emerging Markets Ex China Active ETF	6.51%	35.88%	5.50%	10.52%
FJSCX Fidelity Japan Smaller Companies Fund	2.44%	26.43%	8.03%	15.32%

Returns By Period

In the year-to-date period, MEMX achieves a 6.51% return, which is significantly higher than FJSCX's 2.44% return.

MEMX

• 1D: 4.04%
• 1M: -11.05%
• YTD: 6.51%
• 6M: 20.33%
• 1Y: 49.85%
• 3Y*: 19.55%
• 5Y*: —
• 10Y*: —

FJSCX

• 1D: -0.75%
• 1M: -12.79%
• YTD: 2.44%
• 6M: 3.83%
• 1Y: 25.97%
• 3Y*: 15.13%
• 5Y*: 6.63%
• 10Y*: 7.96%

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

MEMX vs. FJSCX - Expense Ratio Comparison

MEMX has a 0.79% expense ratio, which is lower than FJSCX's 0.91% expense ratio.

FJSCX

Fidelity Japan Smaller Companies Fund

MEMX

Matthews Emerging Markets Ex China Active ETF

Return for Risk

MEMX vs. FJSCX — Risk / Return Rank

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

MEMX

MEMX Risk / Return Rank: 94
MEMX Sharpe Ratio Rank: 95
MEMX Sortino Ratio Rank: 95
MEMX Omega Ratio Rank: 95
MEMX Calmar Ratio Rank: 92
MEMX Martin Ratio Rank: 94

FJSCX

FJSCX Risk / Return Rank: 73
FJSCX Sharpe Ratio Rank: 75
FJSCX Sortino Ratio Rank: 73
FJSCX Omega Ratio Rank: 65
FJSCX Calmar Ratio Rank: 77
FJSCX Martin Ratio Rank: 73

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.

MEMX vs. FJSCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Ex China Active ETF (MEMX) 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.

	MEMX	FJSCX	Difference
Sharpe ratio Return per unit of total volatility	2.46	1.32	+1.13
Sortino ratio Return per unit of downside risk	3.12	1.81	+1.32
Omega ratio Gain probability vs. loss probability	1.46	1.24	+0.21
Calmar ratio Return relative to maximum drawdown	3.37	1.80	+1.57
Martin ratio Return relative to average drawdown	14.15	6.91	+7.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEMX vs. FJSCX - Sharpe Ratio Comparison

The current MEMX Sharpe Ratio is 2.46, which is higher than the FJSCX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of MEMX and FJSCX, 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

	MEMX	FJSCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	1.32	+1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.29	+0.82

Correlation

The correlation between MEMX and FJSCX is 0.56, 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

MEMX vs. FJSCX - Dividend Comparison

MEMX's dividend yield for the trailing twelve months is around 4.58%, less than FJSCX's 17.20% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEMX Matthews Emerging Markets Ex China Active ETF	4.58%	4.88%	0.99%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FJSCX Fidelity Japan Smaller Companies Fund	17.20%	17.62%	4.54%	2.82%	0.05%	12.01%	1.59%	7.13%	5.55%	3.91%	2.83%	1.43%

Drawdowns

MEMX vs. FJSCX - Drawdown Comparison

The maximum MEMX drawdown since its inception was -19.27%, smaller than the maximum FJSCX drawdown of -71.42%. Use the drawdown chart below to compare losses from any high point for MEMX and FJSCX.

Drawdown Indicators

	MEMX	FJSCX	Difference
Max Drawdown Largest peak-to-trough decline	-19.27%	-71.42%	+52.15%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-12.79%	-1.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.10%	—
Current Drawdown Current decline from peak	-11.25%	-12.79%	+1.54%
Average Drawdown Average peak-to-trough decline	-3.53%	-26.78%	+23.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	3.34%	+0.16%

Volatility

MEMX vs. FJSCX - Volatility Comparison

Matthews Emerging Markets Ex China Active ETF (MEMX) has a higher volatility of 11.60% compared to Fidelity Japan Smaller Companies Fund (FJSCX) at 8.06%. This indicates that MEMX's price experiences larger fluctuations and is considered to be riskier than FJSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEMX	FJSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.60%	8.06%	+3.54%
Volatility (6M) Calculated over the trailing 6-month period	16.22%	13.93%	+2.29%
Volatility (1Y) Calculated over the trailing 1-year period	20.39%	18.78%	+1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	16.97%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.07%	15.81%	+0.26%