FEATX vs. FHKCX

Last updated Aug 2, 2026

FEATX (Fidelity Advisor Emerging Asia Fund Class M) and FHKCX (Fidelity China Region Fund) are both mutual funds - FEATX is a Asia Pacific Equities fund managed by Fidelity, while FHKCX is a China Equities fund managed by Fidelity. Over the past 10 years, FEATX returned 13.45%/yr vs 13.39%/yr for FHKCX. Their correlation of 0.90 means they have usually moved in the same direction. FEATX charges 1.45%/yr vs 0.91%/yr for FHKCX.

Performance

FEATX vs. FHKCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Emerging Asia Fund Class M (FEATX) 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, FEATX achieves a 23.29% return, which is significantly lower than FHKCX's 25.83% return. Both investments have delivered pretty close results over the past 10 years, with FEATX having a 13.45% annualized return and FHKCX not far behind at 13.39%.

FEATX

• 1D: 3.44%
• 1M: -6.71%
• 6M: 13.07%
• YTD: 23.29%
• 1Y: 41.98%
• 3Y*: 26.66%
• 5Y*: 7.28%
• 10Y*: 13.45%
• ALL TIME*: 9.52%

FHKCX

• 1D: 2.48%
• 1M: -4.84%
• 6M: 13.53%
• YTD: 25.83%
• 1Y: 52.69%
• 3Y*: 27.09%
• 5Y*: 8.93%
• 10Y*: 13.39%
• ALL TIME*: 9.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FEATX Fidelity Advisor Emerging Asia Fund Class M	$0.00	$0.00	$0.00
FHKCX Fidelity China Region Fund	$0.00	$0.00	$0.00

FEATX vs. FHKCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEATX Fidelity Advisor Emerging Asia Fund Class M	23.29%	36.34%	20.32%	13.22%	-30.99%	-15.29%	72.05%	30.26%	-15.36%	45.82%
FHKCX Fidelity China Region Fund	25.83%	42.56%	23.15%	-0.29%	-23.87%	-13.69%	47.85%	35.12%	-17.43%	51.94%

Correlation

The correlation between FEATX and FHKCX is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Jun 15, 1999	0.90

The correlation between FEATX and FHKCX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

FEATX vs. FHKCX - Sectors Allocation Comparison

Sectors	FEATX	FHKCX
Technology	56.1%	59.9%
Financial Services	13.7%	7.0%
Industrials	9.5%	7.4%
Consumer Cyclical	6.5%	8.9%
Basic Materials	5.5%	5.5%
Communication Services	3.6%	6.0%
Healthcare	2.0%	3.6%
Consumer Defensive	1.6%	1.3%
Energy	1.5%	-
Real Estate	-	0.3%
Utilities	-	-

Return for Risk

FEATX vs. FHKCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FEATX

FEATX Risk / Return Rank: 64
FEATX Sharpe Ratio Rank: 63
FEATX Sortino Ratio Rank: 52
FEATX Omega Ratio Rank: 63
FEATX Calmar Ratio Rank: 76
FEATX Martin Ratio Rank: 64

FHKCX

FHKCX Risk / Return Rank: 84
FHKCX Sharpe Ratio Rank: 84
FHKCX Sortino Ratio Rank: 76
FHKCX Omega Ratio Rank: 78
FHKCX Calmar Ratio Rank: 95
FHKCX Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FEATX vs. FHKCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Emerging Asia Fund Class M (FEATX) 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.

	FEATX	FHKCX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.00	-0.46
Sortino ratio: Return per unit of downside risk	2.01	2.56	-0.55
Omega ratio: Gain probability vs. loss probability	1.29	1.34	-0.06
Calmar ratio: Return relative to maximum drawdown	2.50	4.05	-1.55
Martin ratio: Return relative to average drawdown	8.12	11.52	-3.40

FEATX vs. FHKCX - Sharpe Ratio Comparison

The current FEATX Sharpe Ratio is 1.54, which is comparable to the FHKCX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of FEATX 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

FEATX vs. FHKCX - Drawdown Comparison

The maximum FEATX drawdown since its inception was -60.97%, roughly equal to the maximum FHKCX drawdown of -61.96%. Use the drawdown chart below to compare losses from any high point for FEATX and FHKCX.

Drawdown Indicators

	FEATX	FHKCX	Difference
Max Drawdown Largest peak-to-trough decline	-60.97%	-61.96%	+0.99%
Max Drawdown (1Y) Largest decline over 1 year	-15.62%	-12.24%	-3.38%
Max Drawdown (3Y) Largest decline over 3 years	-17.43%	-22.02%	+4.59%
Max Drawdown (5Y) Largest decline over 5 years	-50.88%	-48.17%	-2.71%
Max Drawdown (10Y) Largest decline over 10 years	-58.09%	-58.41%	+0.32%
Current Drawdown Current decline from peak	-12.71%	-10.06%	-2.65%
Average Drawdown Average peak-to-trough decline	-20.60%	-20.18%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.80%	4.30%	+0.50%

Volatility

FEATX vs. FHKCX - Volatility Comparison

Fidelity Advisor Emerging Asia Fund Class M (FEATX) has a higher volatility of 9.96% compared to Fidelity China Region Fund (FHKCX) at 8.73%. This indicates that FEATX's price experiences larger fluctuations and is considered to be riskier than FHKCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEATX	FHKCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.96%	8.73%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	23.06%	20.80%	+2.26%
Volatility (1Y) Calculated over the trailing 1-year period	25.40%	24.78%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.76%	24.71%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	22.66%	-1.15%

FEATX vs. FHKCX - Expense Ratio Comparison

FEATX has a 1.45% expense ratio, which is higher than FHKCX's 0.91% expense ratio.

Dividends

FEATX vs. FHKCX - Dividend Comparison

FEATX has not paid dividends to shareholders, while FHKCX's dividend yield for the trailing twelve months is around 1.39%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEATX Fidelity Advisor Emerging Asia Fund Class M	0.00%	0.00%	0.00%	0.00%	0.00%	13.43%	6.70%	5.07%	6.24%	0.03%	0.89%	0.87%
FHKCX Fidelity China Region Fund	1.39%	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 FEATX and FHKCX in my portfolio?

With a correlation of 0.93, FEATX and FHKCX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FEATX or FHKCX?

FEATX has higher volatility (9.96%) compared to FHKCX (8.73%). In terms of maximum drawdown, FEATX dropped -60.97% vs FHKCX's -61.96%.

Which has better risk-adjusted returns?

FHKCX currently has the higher Sharpe Ratio (2.00 vs 1.54), 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.