Funds under review
The aim of this series is to present a head-to-head comparison of four Japan-focused mutual funds. They are:
- T. Rowe Price Japan Fund (PRJPX)
- Fidelity Advisor Japan Fund (FPJAX)
- Nuveen Tradewinds Japan (NTJAX)
- Matthews Japan Fund (MJFOX)
In the three months leading to July 24, 2015, only MJFOX was able to post positive returns. The fund also outperformed its peers in the one-year, three-year, and five-year periods.
In the six-month period, both NTJAX and the MJFOX returned 17.6%. Stocks like Sysmex Corp. (SSMXY), Pigeon Corp. (PGENY), and Murata Manufacturing Co., Ltd. (MRAAY) helped MJFOX post solid returns. Apart from these stocks, MJFOX also invests in companies like Toyota Motor (TM), ORIX Corporation (IX), and Nidec Corporation (NJ). FPJAX trailed the pack with 9.9% returns.
In the three-year period, NTJAX and PRJPX were in a tight race for the second and third positions, respectively, with MJFOX leading. Meanwhile, in the five-year period, PRJPX was a distant second to MJFOX while NTJAX trailed the pack. Because FPJAX has not completed five years yet, the return graph is blank for the fund.
Mutual funds have stated benchmarks. While the PRJPX and the FPJAX have the TOPIX Index as their benchmark, the NTJAX and the MJFPX have the MSCI Japan Index as theirs.
While the TOPIX Index has returned 7.3% in the one year ending July 24, 2015, the MSCI Japan Index has returned 7.0% in the same period. Year-to-date until July 24, the TOPIX Index is up 12.6%, while the MSCI Japan Index has returned 13.6%.
In the next article, let’s look at the risk-adjusted return performance of these funds.
FPJAX’s average exposure to stocks belonging to different market caps has shown a clear favor for large-cap stocks. About 81.1% of its holdings for the past year were in the large cap space.
T-Mobile wants to showcase its strength before its first-quarter earnings release. T-Mobile is scheduled to report its first-quarter results on April 25.
Mondelēz (MDLZ) is scheduled to announce its first-quarter earnings results on April 30.
Freeport-McMoRan (FCX) is scheduled to release its first-quarter earnings on April 25.
Ford has risen 8.2% in April so far as compared to 2.6% gains in the S&P 500 Index.
On April 22, natural gas prices settled at $2.52 per MMBtu—1.4% above the lowest closing level for active natural gas futures since June 8, 2016.
Kimberly-Clark (KMB) stock rose 5.4% on April 22 after the company released stronger-than-expected first-quarter results.