FCGSX vs. FHKCX

Last updated Jun 25, 2026

FCGSX (Fidelity Series Growth Company Fund) and FHKCX (Fidelity China Region Fund) are both mutual funds - FCGSX is a Large Cap Growth Equities fund managed by Fidelity, while FHKCX is a China Equities fund managed by Fidelity. Over the past 10 years, FCGSX returned 24.85%/yr vs 15.23%/yr for FHKCX. A 0.60 correlation means they provide meaningful diversification when combined. FCGSX charges 0.00%/yr vs 0.91%/yr for FHKCX.

Performance

FCGSX vs. FHKCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Growth Company Fund (FCGSX) 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, FCGSX achieves a 19.52% return, which is significantly lower than FHKCX's 33.77% return. Over the past 10 years, FCGSX has outperformed FHKCX with an annualized return of 24.85%, while FHKCX has yielded a comparatively lower 15.23% annualized return.

FCGSX

• 1D: -2.31%
• 1M: -0.88%
• YTD: 19.52%
• 6M: 17.70%
• 1Y: 47.31%
• 3Y*: 32.25%
• 5Y*: 17.39%
• 10Y*: 24.85%

FHKCX

• 1D: -4.02%
• 1M: 0.70%
• YTD: 33.77%
• 6M: 34.44%
• 1Y: 67.08%
• 3Y*: 32.47%
• 5Y*: 8.11%
• 10Y*: 15.23%

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

FCGSX vs. FHKCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCGSX Fidelity Series Growth Company Fund	19.52%	25.52%	38.00%	45.97%	-32.15%	25.13%	70.01%	39.75%	-4.03%	37.69%
FHKCX Fidelity China Region Fund	33.77%	42.56%	23.15%	-0.29%	-23.87%	-13.69%	47.85%	35.12%	-17.43%	51.94%

Correlation

The correlation between FCGSX and FHKCX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Nov 19, 2013	0.60

The correlation between FCGSX and FHKCX has been stable across timeframes, ranging from 0.59 to 0.69 - a consistent structural relationship.

Return for Risk

FCGSX vs. FHKCX — Risk / Return Rank

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

FCGSX

FCGSX Risk / Return Rank: 85
FCGSX Sharpe Ratio Rank: 87
FCGSX Sortino Ratio Rank: 75
FCGSX Omega Ratio Rank: 73
FCGSX Calmar Ratio Rank: 93
FCGSX Martin Ratio Rank: 95

FHKCX

FHKCX Risk / Return Rank: 92
FHKCX Sharpe Ratio Rank: 96
FHKCX Sortino Ratio Rank: 85
FHKCX Omega Ratio Rank: 85
FHKCX Calmar Ratio Rank: 97
FHKCX Martin Ratio Rank: 95

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.

FCGSX vs. FHKCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Growth Company Fund (FCGSX) 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.

	FCGSX	FHKCX	Difference
Sharpe ratio: Return per unit of total volatility	2.63	3.14	-0.51
Sortino ratio: Return per unit of downside risk	3.30	3.71	-0.41
Omega ratio: Gain probability vs. loss probability	1.44	1.54	-0.10
Calmar ratio: Return relative to maximum drawdown	4.79	6.75	-1.96
Martin ratio: Return relative to average drawdown	20.78	20.08	+0.71

FCGSX vs. FHKCX - Sharpe Ratio Comparison

The current FCGSX Sharpe Ratio is 2.63, which is comparable to the FHKCX Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of FCGSX 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

FCGSX vs. FHKCX - Drawdown Comparison

The maximum FCGSX drawdown since its inception was -38.77%, smaller than the maximum FHKCX drawdown of -61.96%. Use the drawdown chart below to compare losses from any high point for FCGSX and FHKCX.

Drawdown Indicators

	FCGSX	FHKCX	Difference
Max Drawdown Largest peak-to-trough decline	-38.77%	-61.96%	+23.19%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-10.80%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	-26.07%	-22.02%	-4.05%
Max Drawdown (5Y) Largest decline over 5 years	-38.77%	-52.42%	+13.65%
Max Drawdown (10Y) Largest decline over 10 years	-38.77%	-58.41%	+19.64%
Current Drawdown Current decline from peak	-4.01%	-4.38%	+0.37%
Average Drawdown Average peak-to-trough decline	-6.94%	-20.23%	+13.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	3.62%	-1.22%

Volatility

FCGSX vs. FHKCX - Volatility Comparison

The current volatility for Fidelity Series Growth Company Fund (FCGSX) is 7.87%, while Fidelity China Region Fund (FHKCX) has a volatility of 11.20%. This indicates that FCGSX 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

	FCGSX	FHKCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.87%	11.20%	-3.33%
Volatility (6M) Calculated over the trailing 6-month period	14.92%	19.17%	-4.25%
Volatility (1Y) Calculated over the trailing 1-year period	19.03%	23.22%	-4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.87%	24.59%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.32%	22.49%	+0.83%

FCGSX vs. FHKCX - Expense Ratio Comparison

FCGSX has a 0.00% expense ratio, which is lower than FHKCX's 0.91% expense ratio.

Dividends

FCGSX vs. FHKCX - Dividend Comparison

FCGSX's dividend yield for the trailing twelve months is around 8.77%, more than FHKCX's 1.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCGSX Fidelity Series Growth Company Fund	8.77%	10.48%	12.49%	3.13%	0.61%	38.65%	31.99%	11.06%	13.21%	10.51%	2.44%	0.25%
FHKCX Fidelity China Region Fund	1.31%	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 FCGSX and FHKCX in my portfolio?

FCGSX and FHKCX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCGSX or FHKCX?

FHKCX has higher volatility (11.20%) compared to FCGSX (7.87%). In terms of maximum drawdown, FCGSX dropped -38.77% vs FHKCX's -61.96%.

Which has better risk-adjusted returns?

FHKCX currently has the higher Sharpe Ratio (3.14 vs 2.63), 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.