FHCCX vs. FHLC

Last updated Aug 2, 2026

FHCCX (Fidelity Advisor Health Care Fund Class C) and FHLC (Fidelity MSCI Health Care Index ETF) are both Health & Biotech Equities funds from Fidelity. Over the past 10 years, FHCCX returned 6.51%/yr vs 9.78%/yr for FHLC. Their correlation of 0.91 means they have usually moved in the same direction. FHCCX charges 1.72%/yr vs 0.08%/yr for FHLC.

Performance

FHCCX vs. FHLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Health Care Fund Class C (FHCCX) and Fidelity MSCI Health Care Index ETF (FHLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHCCX achieves a 10.04% return, which is significantly higher than FHLC's 6.75% return. Over the past 10 years, FHCCX has underperformed FHLC with an annualized return of 6.51%, while FHLC has yielded a comparatively higher 9.78% annualized return.

FHCCX

• 1D: 0.00%
• 1M: -1.31%
• 6M: 9.98%
• YTD: 10.04%
• 1Y: 9.60%
• 3Y*: 2.43%
• 5Y*: -0.65%
• 10Y*: 6.51%
• ALL TIME*: 9.31%

FHLC

• 1D: -0.87%
• 1M: -1.15%
• 6M: 6.97%
• YTD: 6.75%
• 1Y: 27.92%
• 3Y*: 9.06%
• 5Y*: 5.04%
• 10Y*: 9.78%
• ALL TIME*: 10.72%

*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)
FHCCX Fidelity Advisor Health Care Fund Class C	$0.00	$0.00	$0.00
FHLC Fidelity MSCI Health Care Index ETF	$13.10M	$18.62M	$15.92M

FHCCX vs. FHLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHCCX Fidelity Advisor Health Care Fund Class C	10.04%	-5.49%	3.20%	3.02%	-13.72%	10.43%	20.15%	26.96%	6.37%	23.12%
FHLC Fidelity MSCI Health Care Index ETF	6.75%	15.42%	2.48%	2.58%	-5.55%	20.39%	18.13%	21.94%	4.71%	23.34%

Correlation

The correlation between FHCCX and FHLC is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.91

The correlation between FHCCX and FHLC shifts across timeframes, from 0.80 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

FHCCX vs. FHLC - Sectors Allocation Comparison

Sectors	FHCCX	FHLC
Healthcare	100.0%	98.9%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.0%
Industrials	-	0.0%
Real Estate	-	-
Technology	-	0.4%
Utilities	-	-

Return for Risk

FHCCX vs. FHLC — Risk / Return Rank

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

FHCCX

FHCCX Risk / Return Rank: 9
FHCCX Sharpe Ratio Rank: 9
FHCCX Sortino Ratio Rank: 9
FHCCX Omega Ratio Rank: 13
FHCCX Calmar Ratio Rank: 8
FHCCX Martin Ratio Rank: 7

FHLC

FHLC Risk / Return Rank: 77
FHLC Sharpe Ratio Rank: 82
FHLC Sortino Ratio Rank: 87
FHLC Omega Ratio Rank: 78
FHLC Calmar Ratio Rank: 78
FHLC Martin Ratio Rank: 58

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.

FHCCX vs. FHLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Health Care Fund Class C (FHCCX) and Fidelity MSCI Health Care Index ETF (FHLC). 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.

	FHCCX	FHLC	Difference
Sharpe ratio: Return per unit of total volatility	0.35	1.89	-1.54
Sortino ratio: Return per unit of downside risk	0.55	2.91	-2.36
Omega ratio: Gain probability vs. loss probability	1.10	1.33	-0.22
Calmar ratio: Return relative to maximum drawdown	0.31	2.75	-2.45
Martin ratio: Return relative to average drawdown	0.54	6.86	-6.32

FHCCX vs. FHLC - Sharpe Ratio Comparison

The current FHCCX Sharpe Ratio is 0.35, which is lower than the FHLC Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of FHCCX and FHLC, 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

FHCCX vs. FHLC - Drawdown Comparison

The maximum FHCCX drawdown since its inception was -45.28%, which is greater than FHLC's maximum drawdown of -28.76%. Use the drawdown chart below to compare losses from any high point for FHCCX and FHLC.

Drawdown Indicators

	FHCCX	FHLC	Difference
Max Drawdown Largest peak-to-trough decline	-45.28%	-28.76%	-16.52%
Max Drawdown (1Y) Largest decline over 1 year	-27.25%	-10.38%	-16.87%
Max Drawdown (3Y) Largest decline over 3 years	-27.25%	-16.87%	-10.38%
Max Drawdown (5Y) Largest decline over 5 years	-29.67%	-17.73%	-11.94%
Max Drawdown (10Y) Largest decline over 10 years	-29.67%	-28.76%	-0.91%
Current Drawdown Current decline from peak	-11.25%	-2.78%	-8.47%
Average Drawdown Average peak-to-trough decline	-10.22%	-5.16%	-5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.50%	4.16%	+11.34%

Volatility

FHCCX vs. FHLC - Volatility Comparison

The current volatility for Fidelity Advisor Health Care Fund Class C (FHCCX) is 5.13%, while Fidelity MSCI Health Care Index ETF (FHLC) has a volatility of 5.57%. This indicates that FHCCX experiences smaller price fluctuations and is considered to be less risky than FHLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHCCX	FHLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	5.57%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	13.45%	11.69%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	24.46%	15.36%	+9.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.78%	15.25%	+4.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.61%	16.89%	+2.72%

FHCCX vs. FHLC - Expense Ratio Comparison

FHCCX has a 1.72% expense ratio, which is higher than FHLC's 0.08% expense ratio.

Dividends

FHCCX vs. FHLC - Dividend Comparison

FHCCX has not paid dividends to shareholders, while FHLC's dividend yield for the trailing twelve months is around 1.30%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHCCX Fidelity Advisor Health Care Fund Class C	0.00%	0.00%	17.59%	0.00%	0.00%	8.32%	6.85%	0.41%	6.43%	0.00%	0.00%	7.84%
FHLC Fidelity MSCI Health Care Index ETF	1.30%	1.40%	1.51%	1.40%	1.30%	1.16%	1.45%	1.18%	1.38%	1.38%	1.40%	2.07%

Frequently Asked Questions

Can I hold both FHCCX and FHLC in my portfolio?

FHCCX and FHLC have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHCCX or FHLC?

FHLC has higher volatility (5.57%) compared to FHCCX (5.13%). In terms of maximum drawdown, FHCCX dropped -45.28% vs FHLC's -28.76%.

Which has better risk-adjusted returns?

FHLC currently has the higher Sharpe Ratio (1.89 vs 0.35), 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.