PRJPX vs. FJPCX

Last updated Jun 4, 2026

PRJPX (T. Rowe Price Japan Fund) and FJPCX (Fidelity Advisor Japan Fund Class C) are both Japan Equities funds. Over the past 10 years, PRJPX returned 7.82%/yr vs 10.44%/yr for FJPCX. Their correlation of 0.92 suggests significant overlap in exposure. PRJPX charges 1.05%/yr vs 2.09%/yr for FJPCX.

Performance

PRJPX vs. FJPCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Japan Fund (PRJPX) and Fidelity Advisor Japan Fund Class C (FJPCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRJPX achieves a 11.22% return, which is significantly lower than FJPCX's 23.89% return. Over the past 10 years, PRJPX has underperformed FJPCX with an annualized return of 7.82%, while FJPCX has yielded a comparatively higher 10.44% annualized return.

PRJPX

• 1D: -0.26%
• 1M: 6.58%
• YTD: 11.22%
• 6M: 14.06%
• 1Y: 27.33%
• 3Y*: 14.69%
• 5Y*: 2.08%
• 10Y*: 7.82%

FJPCX

• 1D: -0.17%
• 1M: 7.30%
• YTD: 23.89%
• 6M: 24.21%
• 1Y: 42.46%
• 3Y*: 20.61%
• 5Y*: 9.17%
• 10Y*: 10.44%

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

PRJPX vs. FJPCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRJPX T. Rowe Price Japan Fund	11.22%	32.21%	6.13%	2.02%	-27.37%	-11.03%	34.60%	27.56%	-12.24%	32.06%
FJPCX Fidelity Advisor Japan Fund Class C	23.89%	30.33%	6.28%	14.73%	-23.02%	2.12%	24.21%	24.42%	-15.61%	28.87%

Correlation

The correlation between PRJPX and FJPCX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 20, 2010	0.92

The correlation between PRJPX and FJPCX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

PRJPX vs. FJPCX — Risk / Return Rank

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

PRJPX

PRJPX Risk / Return Rank: 24
PRJPX Sharpe Ratio Rank: 24
PRJPX Sortino Ratio Rank: 25
PRJPX Omega Ratio Rank: 26
PRJPX Calmar Ratio Rank: 22
PRJPX Martin Ratio Rank: 22

FJPCX

FJPCX Risk / Return Rank: 52
FJPCX Sharpe Ratio Rank: 44
FJPCX Sortino Ratio Rank: 41
FJPCX Omega Ratio Rank: 41
FJPCX Calmar Ratio Rank: 69
FJPCX Martin Ratio Rank: 62

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.

PRJPX vs. FJPCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Japan Fund (PRJPX) and Fidelity Advisor Japan Fund Class C (FJPCX). 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.

	PRJPX	FJPCX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.95	-0.55
Sortino ratio: Return per unit of downside risk	2.06	2.68	-0.62
Omega ratio: Gain probability vs. loss probability	1.27	1.35	-0.08
Calmar ratio: Return relative to maximum drawdown	1.75	3.23	-1.48
Martin ratio: Return relative to average drawdown	5.59	12.26	-6.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRJPX vs. FJPCX - Sharpe Ratio Comparison

The current PRJPX Sharpe Ratio is 1.41, which is comparable to the FJPCX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of PRJPX and FJPCX, 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

	PRJPX	FJPCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.95	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.46	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.57	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.40	-0.23

Drawdowns

PRJPX vs. FJPCX - Drawdown Comparison

The maximum PRJPX drawdown since its inception was -68.26%, which is greater than FJPCX's maximum drawdown of -36.91%. Use the drawdown chart below to compare losses from any high point for PRJPX and FJPCX.

Drawdown Indicators

	PRJPX	FJPCX	Difference
Max Drawdown Largest peak-to-trough decline	-68.26%	-36.91%	-31.35%
Max Drawdown (1Y) Largest decline over 1 year	-15.11%	-12.81%	-2.30%
Max Drawdown (3Y) Largest decline over 3 years	-17.76%	-19.64%	+1.88%
Max Drawdown (5Y) Largest decline over 5 years	-44.42%	-36.91%	-7.51%
Max Drawdown (10Y) Largest decline over 10 years	-45.44%	-36.91%	-8.53%
Current Drawdown Current decline from peak	-3.09%	-1.66%	-1.43%
Average Drawdown Average peak-to-trough decline	-26.75%	-10.51%	-16.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.72%	3.37%	+1.35%

Volatility

PRJPX vs. FJPCX - Volatility Comparison

The current volatility for T. Rowe Price Japan Fund (PRJPX) is 3.47%, while Fidelity Advisor Japan Fund Class C (FJPCX) has a volatility of 5.05%. This indicates that PRJPX experiences smaller price fluctuations and is considered to be less risky than FJPCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRJPX	FJPCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	5.05%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	14.42%	16.37%	-1.95%
Volatility (1Y) Calculated over the trailing 1-year period	18.84%	21.21%	-2.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.05%	19.97%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.56%	18.29%	-0.73%

PRJPX vs. FJPCX - Expense Ratio Comparison

PRJPX has a 1.05% expense ratio, which is lower than FJPCX's 2.09% expense ratio.

Dividends

PRJPX vs. FJPCX - Dividend Comparison

PRJPX's dividend yield for the trailing twelve months is around 13.17%, more than FJPCX's 7.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FJPCX Fidelity Advisor Japan Fund Class C	7.40%	9.16%	3.93%	2.96%	0.00%	10.33%	1.25%	0.22%	0.00%	0.25%	0.00%	0.00%
PRJPX T. Rowe Price Japan Fund	13.17%	14.65%	4.82%	1.71%	6.94%	5.42%	2.59%	2.62%	7.56%	0.33%	0.70%	1.05%

Frequently Asked Questions

Can I hold both PRJPX and FJPCX in my portfolio?

PRJPX and FJPCX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRJPX or FJPCX?

FJPCX has higher volatility (5.05%) compared to PRJPX (3.47%). In terms of maximum drawdown, PRJPX dropped -68.26% vs FJPCX's -36.91%.

Which has better risk-adjusted returns?

FJPCX currently has the higher Sharpe Ratio (1.95 vs 1.41), 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.