FBIOX vs. FHKCX

Last updated Jun 24, 2026

FBIOX (Fidelity Select Biotechnology Portfolio) and FHKCX (Fidelity China Region Fund) are both mutual funds - FBIOX is a Health & Biotech Equities fund managed by Fidelity, while FHKCX is a China Equities fund managed by Fidelity. Over the past 10 years, FBIOX returned 11.69%/yr vs 15.70%/yr for FHKCX. At a 0.36 correlation, their price movements are largely independent. FBIOX charges 0.69%/yr vs 0.91%/yr for FHKCX.

Performance

FBIOX vs. FHKCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Biotechnology Portfolio (FBIOX) and Fidelity China Region Fund (FHKCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBIOX achieves a 11.03% return, which is significantly lower than FHKCX's 39.37% return. Over the past 10 years, FBIOX has underperformed FHKCX with an annualized return of 11.69%, while FHKCX has yielded a comparatively higher 15.70% annualized return.

FBIOX

• 1D: 2.80%
• 1M: 6.82%
• YTD: 11.03%
• 6M: 8.61%
• 1Y: 58.91%
• 3Y*: 20.04%
• 5Y*: 6.76%
• 10Y*: 11.69%

FHKCX

• 1D: 0.50%
• 1M: 4.92%
• YTD: 39.37%
• 6M: 40.46%
• 1Y: 79.75%
• 3Y*: 34.29%
• 5Y*: 9.23%
• 10Y*: 15.70%

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

FBIOX vs. FHKCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBIOX Fidelity Select Biotechnology Portfolio	11.03%	36.38%	7.26%	10.09%	-15.87%	-12.26%	38.62%	36.12%	-10.92%	27.87%
FHKCX Fidelity China Region Fund	39.37%	42.56%	23.15%	-0.29%	-23.87%	-13.69%	47.85%	35.12%	-17.43%	51.94%

Correlation

The correlation between FBIOX and FHKCX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Mar 29, 1996	0.36

FBIOX vs. FHKCX - Sectors Allocation Comparison

Sectors	FBIOX	FHKCX
Healthcare	100.0%	4.4%
Basic Materials	-	5.2%
Communication Services	-	7.0%
Consumer Cyclical	-	10.2%
Consumer Defensive	-	1.0%
Energy	-	-
Financial Services	-	9.1%
Industrials	-	7.8%
Real Estate	-	0.4%
Technology	-	55.1%
Utilities	-	-

Return for Risk

FBIOX vs. FHKCX — Risk / Return Rank

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

FBIOX

FBIOX Risk / Return Rank: 88
FBIOX Sharpe Ratio Rank: 90
FBIOX Sortino Ratio Rank: 84
FBIOX Omega Ratio Rank: 73
FBIOX Calmar Ratio Rank: 98
FBIOX Martin Ratio Rank: 97

FHKCX

FHKCX Risk / Return Rank: 94
FHKCX Sharpe Ratio Rank: 98
FHKCX Sortino Ratio Rank: 91
FHKCX Omega Ratio Rank: 89
FHKCX Calmar Ratio Rank: 98
FHKCX Martin Ratio Rank: 96

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.

FBIOX vs. FHKCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Biotechnology Portfolio (FBIOX) and Fidelity China Region Fund (FHKCX). 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.

	FBIOX	FHKCX	Difference
Sharpe ratio: Return per unit of total volatility	2.74	3.56	-0.82
Sortino ratio: Return per unit of downside risk	3.65	4.15	-0.50
Omega ratio: Gain probability vs. loss probability	1.44	1.60	-0.16
Calmar ratio: Return relative to maximum drawdown	7.66	7.52	+0.14
Martin ratio: Return relative to average drawdown	23.32	22.43	+0.89

FBIOX vs. FHKCX - Sharpe Ratio Comparison

The current FBIOX Sharpe Ratio is 2.74, which is comparable to the FHKCX Sharpe Ratio of 3.56. The chart below compares the historical Sharpe Ratios of FBIOX and FHKCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FBIOX vs. FHKCX - Drawdown Comparison

The maximum FBIOX drawdown since its inception was -71.98%, which is greater than FHKCX's maximum drawdown of -61.96%. Use the drawdown chart below to compare losses from any high point for FBIOX and FHKCX.

Drawdown Indicators

	FBIOX	FHKCX	Difference
Max Drawdown Largest peak-to-trough decline	-71.98%	-61.96%	-10.02%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-10.80%	+3.18%
Max Drawdown (3Y) Largest decline over 3 years	-27.83%	-22.02%	-5.81%
Max Drawdown (5Y) Largest decline over 5 years	-44.87%	-52.42%	+7.55%
Max Drawdown (10Y) Largest decline over 10 years	-48.66%	-58.41%	+9.75%
Current Drawdown Current decline from peak	0.00%	-0.38%	+0.38%
Average Drawdown Average peak-to-trough decline	-23.60%	-20.23%	-3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	3.61%	-1.11%

Volatility

FBIOX vs. FHKCX - Volatility Comparison

The current volatility for Fidelity Select Biotechnology Portfolio (FBIOX) is 8.04%, while Fidelity China Region Fund (FHKCX) has a volatility of 10.30%. This indicates that FBIOX experiences smaller price fluctuations and is considered to be less risky than FHKCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBIOX	FHKCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	10.30%	-2.26%
Volatility (6M) Calculated over the trailing 6-month period	17.08%	18.67%	-1.59%
Volatility (1Y) Calculated over the trailing 1-year period	21.36%	22.87%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.03%	24.53%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.26%	22.48%	+3.78%

FBIOX vs. FHKCX - Expense Ratio Comparison

FBIOX has a 0.69% expense ratio, which is lower than FHKCX's 0.91% expense ratio.

Dividends

FBIOX vs. FHKCX - Dividend Comparison

FBIOX's dividend yield for the trailing twelve months is around 6.06%, more than FHKCX's 1.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBIOX Fidelity Select Biotechnology Portfolio	6.06%	2.47%	1.21%	0.45%	0.00%	14.48%	19.46%	8.89%	11.18%	1.41%	3.42%	6.71%
FHKCX Fidelity China Region Fund	1.26%	1.75%	1.39%	1.92%	1.05%	10.77%	4.85%	0.66%	0.83%	0.39%	1.35%	15.47%

Frequently Asked Questions

Can I hold both FBIOX and FHKCX in my portfolio?

FBIOX and FHKCX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBIOX or FHKCX?

FHKCX has higher volatility (10.30%) compared to FBIOX (8.04%). In terms of maximum drawdown, FBIOX dropped -71.98% vs FHKCX's -61.96%.

Which has better risk-adjusted returns?

FHKCX currently has the higher Sharpe Ratio (3.56 vs 2.74), 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.