FERCX vs. FHKIX

Last updated Jul 17, 2026

FERCX (Fidelity Advisor Emerging Asia Fund Class C) and FHKIX (Fidelity Advisor China Region Fund Class I) are both mutual funds - FERCX is a Asia Pacific Equities fund managed by Fidelity, while FHKIX is a China Equities fund managed by Fidelity. Over the past 10 years, FERCX returned 13.96%/yr vs 14.03%/yr for FHKIX. Their correlation of 0.92 suggests significant overlap in exposure. FERCX charges 1.96%/yr vs 0.93%/yr for FHKIX.

Performance

FERCX vs. FHKIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Emerging Asia Fund Class C (FERCX) and Fidelity Advisor China Region Fund Class I (FHKIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FERCX having a 31.12% return and FHKIX slightly higher at 31.23%. Both investments have delivered pretty close results over the past 10 years, with FERCX having a 13.96% annualized return and FHKIX not far ahead at 14.03%.

FERCX

• 1D: 0.93%
• 1M: -2.71%
• 6M: 22.58%
• YTD: 31.12%
• 1Y: 50.68%
• 3Y*: 29.15%
• 5Y*: 6.81%
• 10Y*: 13.96%

FHKIX

• 1D: 0.64%
• 1M: -2.72%
• 6M: 21.58%
• YTD: 31.23%
• 1Y: 58.92%
• 3Y*: 29.73%
• 5Y*: 8.54%
• 10Y*: 14.03%

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

FERCX vs. FHKIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FERCX Fidelity Advisor Emerging Asia Fund Class C	31.12%	35.65%	19.76%	12.64%	-31.29%	-15.75%	71.24%	29.64%	-15.72%	45.46%
FHKIX Fidelity Advisor China Region Fund Class I	31.23%	42.60%	23.15%	-0.28%	-23.85%	-13.71%	47.80%	35.11%	-17.43%	51.93%

Correlation

The correlation between FERCX and FHKIX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 8, 2008	0.92

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

Return for Risk

FERCX vs. FHKIX — Risk / Return Rank

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

FERCX

FERCX Risk / Return Rank: 78
FERCX Sharpe Ratio Rank: 79
FERCX Sortino Ratio Rank: 63
FERCX Omega Ratio Rank: 77
FERCX Calmar Ratio Rank: 90
FERCX Martin Ratio Rank: 83

FHKIX

FHKIX Risk / Return Rank: 89
FHKIX Sharpe Ratio Rank: 90
FHKIX Sortino Ratio Rank: 80
FHKIX Omega Ratio Rank: 82
FHKIX Calmar Ratio Rank: 97
FHKIX Martin Ratio Rank: 93

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.

FERCX vs. FHKIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Emerging Asia Fund Class C (FERCX) and Fidelity Advisor China Region Fund Class I (FHKIX). 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.

	FERCX	FHKIX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.50	-0.38
Sortino ratio: Return per unit of downside risk	2.58	3.06	-0.48
Omega ratio: Gain probability vs. loss probability	1.39	1.43	-0.04
Calmar ratio: Return relative to maximum drawdown	3.77	5.53	-1.76
Martin ratio: Return relative to average drawdown	12.13	15.55	-3.42

FERCX vs. FHKIX - Sharpe Ratio Comparison

The current FERCX Sharpe Ratio is 2.12, which is comparable to the FHKIX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of FERCX and FHKIX, 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

FERCX vs. FHKIX - Drawdown Comparison

The maximum FERCX drawdown since its inception was -61.15%, roughly equal to the maximum FHKIX drawdown of -58.42%. Use the drawdown chart below to compare losses from any high point for FERCX and FHKIX.

Drawdown Indicators

	FERCX	FHKIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.15%	-58.42%	-2.73%
Max Drawdown (1Y) Largest decline over 1 year	-13.62%	-10.80%	-2.82%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	-22.02%	+4.38%
Max Drawdown (5Y) Largest decline over 5 years	-51.61%	-49.96%	-1.65%
Max Drawdown (10Y) Largest decline over 10 years	-58.44%	-58.42%	-0.02%
Current Drawdown Current decline from peak	-6.95%	-6.19%	-0.76%
Average Drawdown Average peak-to-trough decline	-21.14%	-18.58%	-2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	3.83%	+0.39%

Volatility

FERCX vs. FHKIX - Volatility Comparison

Fidelity Advisor Emerging Asia Fund Class C (FERCX) has a higher volatility of 10.62% compared to Fidelity Advisor China Region Fund Class I (FHKIX) at 9.32%. This indicates that FERCX's price experiences larger fluctuations and is considered to be riskier than FHKIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FERCX	FHKIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.62%	9.32%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	21.91%	19.91%	+2.00%
Volatility (1Y) Calculated over the trailing 1-year period	24.25%	23.95%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.72%	24.70%	-0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.38%	22.56%	-1.18%

FERCX vs. FHKIX - Expense Ratio Comparison

FERCX has a 1.96% expense ratio, which is higher than FHKIX's 0.93% expense ratio.

Dividends

FERCX vs. FHKIX - Dividend Comparison

FERCX has not paid dividends to shareholders, while FHKIX's dividend yield for the trailing twelve months is around 1.40%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FERCX Fidelity Advisor Emerging Asia Fund Class C	0.00%	0.00%	0.00%	0.00%	0.00%	14.89%	7.03%	5.13%	6.53%	0.03%	0.56%	0.92%
FHKIX Fidelity Advisor China Region Fund Class I	1.40%	1.84%	1.44%	1.89%	1.04%	10.81%	4.90%	0.65%	0.79%	0.44%	1.40%	15.62%

Frequently Asked Questions

Can I hold both FERCX and FHKIX in my portfolio?

With a correlation of 0.92, FERCX and FHKIX 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, FERCX or FHKIX?

FERCX has higher volatility (10.62%) compared to FHKIX (9.32%). In terms of maximum drawdown, FERCX dropped -61.15% vs FHKIX's -58.42%.

Which has better risk-adjusted returns?

FHKIX currently has the higher Sharpe Ratio (2.50 vs 2.12), 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.