Japan - Equity fund seekers should consider taking a look at Fidelity Japan Fund (FJPNX Quick QuoteFJPNX - Free Report) . FJPNX holds a Zacks Mutual Fund Rank of 1 (Strong Buy), which is based on various forecasting factors like size, cost, and past performance.

Objective

We note that FJPNX is a Japan - Equity option, an area loaded with different choices. Japan - Equity mutual funds primarily invest in companies in one of the world's richest and most diversified economies, Japan. While the country remains partially exposed to global economic trends due to its export focus, its lack of natural resources can also impact the nation.

History of Fund/Manager

Fidelity is based in Boston, MA, and is the manager of FJPNX. The Fidelity Japan Fund made its debut in September of 1992 and FJPNX has managed to accumulate roughly $333.44 million in assets, as of the most recently available information. The fund's current manager, Kirk Neureiter, has been in charge of the fund since March of 2014.

Performance

Of course, investors look for strong performance in funds. This fund carries a 5-year annualized total return of 10.36%, and is in the middle third among its category peers. Investors who prefer analyzing shorter time frames should look at its 3-year annualized total return of 23.42%, which places it in the top third during this time-frame.

It is important to note that the product's returns may not reflect all its expenses. Any fees not reflected would lower the returns. Total returns do not reflect the fund's [%] sale charge. If sales charges were included, total returns would have been lower.

When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Compared to the category average of 11.43%, the standard deviation of FJPNX over the past three years is 15.49%. The standard deviation of the fund over the past 5 years is 17.3% compared to the category average of 13.21%. This makes the fund more volatile than its peers over the past half-decade.

Risk Factors

The fund has a 5-year beta of 0.84, so investors should note that it is hypothetically less volatile than the market at large. Alpha is an additional metric to take into consideration, since it represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which in this case, is the S&P 500. With a negative alpha of -1.52, managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.

Expenses

For investors, taking a closer look at cost-related metrics is key, since costs are increasingly important for mutual fund investing. Competition is heating up in this space, and a lower cost product will likely outperform its otherwise identical counterpart, all things being equal. In terms of fees, FJPNX is a no load fund. It has an expense ratio of 0.74% compared to the category average of 0.93%. From a cost perspective, FJPNX is actually cheaper than its peers.

This fund requires a minimum initial investment of $0, while there is no minimum for each subsequent investment.

Fees charged by investment advisors have not been taken into consideration. Returns would be less if those were included.

Bottom Line

Overall, Fidelity Japan Fund ( FJPNX ) has a high Zacks Mutual Fund rank, and in conjunction with its comparatively similar performance, average downside risk, and lower fees, Fidelity Japan Fund ( FJPNX ) looks like a good potential choice for investors right now.

This could just be the start of your research on FJPNX in the Japan - Equity category. Consider going to www.zacks.com/funds/mutual-funds for additional information about this fund, and all the others that we rank as well for additional information. Want to learn even more? We have a full suite of tools on stocks that you can use to find the best choices for your portfolio too, no matter what kind of investor you are.