PRJPX vs. HJPSX
PRJPX (T. Rowe Price Japan Fund) and HJPSX (Hennessy Japan Small Cap Fund) are both Japan Equities funds. Over the past 10 years, PRJPX returned 8.26%/yr vs 11.18%/yr for HJPSX. A 0.78 correlation means they provide meaningful diversification when combined. PRJPX charges 1.05%/yr vs 1.57%/yr for HJPSX.
Performance
PRJPX vs. HJPSX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PRJPX achieves a 13.65% return, which is significantly lower than HJPSX's 15.25% return. Over the past 10 years, PRJPX has underperformed HJPSX with an annualized return of 8.26%, while HJPSX has yielded a comparatively higher 11.18% annualized return.
PRJPX
- 1D
- -0.13%
- 1M
- 3.01%
- YTD
- 13.65%
- 6M
- 12.99%
- 1Y
- 31.87%
- 3Y*
- 16.45%
- 5Y*
- 2.32%
- 10Y*
- 8.26%
HJPSX
- 1D
- 0.36%
- 1M
- 0.76%
- YTD
- 15.25%
- 6M
- 15.28%
- 1Y
- 33.17%
- 3Y*
- 20.96%
- 5Y*
- 8.90%
- 10Y*
- 11.18%
PRJPX vs. HJPSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRJPX T. Rowe Price Japan Fund | 13.65% | 32.21% | 6.13% | 2.02% | -27.37% | -11.03% | 34.60% | 27.56% | -12.24% | 32.06% |
HJPSX Hennessy Japan Small Cap Fund | 15.25% | 29.02% | 8.24% | 16.30% | -16.35% | -4.64% | 13.43% | 19.97% | -12.56% | 49.60% |
Correlation
The correlation between PRJPX and HJPSX is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2007 | 0.78 |
The correlation between PRJPX and HJPSX has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PRJPX vs. HJPSX — Risk / Return Rank
PRJPX
HJPSX
PRJPX vs. HJPSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Japan Fund (PRJPX) and Hennessy Japan Small Cap Fund (HJPSX). 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.
| PRJPX | HJPSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.35 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.31 | -0.13 |
| Martin ratioReturn relative to average drawdown | 6.88 | 7.00 | -0.11 |
Loading charts...
Drawdowns
PRJPX vs. HJPSX - Drawdown Comparison
The maximum PRJPX drawdown since its inception was -68.26%, which is greater than HJPSX's maximum drawdown of -47.91%. Use the drawdown chart below to compare losses from any high point for PRJPX and HJPSX.
Loading charts...
Drawdown Indicators
| PRJPX | HJPSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.26% | -47.91% | -20.35% |
Max Drawdown (1Y)Largest decline over 1 year | -15.11% | -14.77% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -16.44% | -14.77% | -1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -44.42% | -33.24% | -11.18% |
Max Drawdown (10Y)Largest decline over 10 years | -45.44% | -34.80% | -10.64% |
Current DrawdownCurrent decline from peak | -0.96% | -2.52% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -26.71% | -10.04% | -16.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.77% | 4.86% | -0.09% |
Volatility
PRJPX vs. HJPSX - Volatility Comparison
T. Rowe Price Japan Fund (PRJPX) has a higher volatility of 5.07% compared to Hennessy Japan Small Cap Fund (HJPSX) at 4.42%. This indicates that PRJPX's price experiences larger fluctuations and is considered to be riskier than HJPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PRJPX | HJPSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 4.42% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 14.75% | 13.28% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.10% | 17.46% | +1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.13% | 17.28% | +1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.59% | 17.72% | -0.13% |
PRJPX vs. HJPSX - Expense Ratio Comparison
PRJPX has a 1.05% expense ratio, which is lower than HJPSX's 1.57% expense ratio.
Dividends
PRJPX vs. HJPSX - Dividend Comparison
PRJPX's dividend yield for the trailing twelve months is around 12.89%, more than HJPSX's 11.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HJPSX Hennessy Japan Small Cap Fund | 11.49% | 13.25% | 3.64% | 0.85% | 0.61% | 0.43% | 0.23% | 1.30% | 3.46% | 2.09% | 2.03% | 3.34% |
PRJPX T. Rowe Price Japan Fund | 12.89% | 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
PRJPX and HJPSX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRJPX has higher volatility (5.07%) compared to HJPSX (4.42%). In terms of maximum drawdown, PRJPX dropped -68.26% vs HJPSX's -47.91%.
HJPSX currently has the higher Sharpe Ratio (1.96 vs 1.73), 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.
Find the right allocation for PRJPX and HJPSX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer