FHKCX vs. FBIOX

Last updated Aug 6, 2026

FHKCX (Fidelity China Region Fund) and FBIOX (Fidelity Select Biotechnology Portfolio) are both mutual funds - FHKCX is a China Equities fund managed by Fidelity, while FBIOX is a Health & Biotech Equities fund actively managed by Fidelity. Over the past 10 years, FHKCX returned 13.85%/yr vs 10.46%/yr for FBIOX. Their 0.36 correlation means their historical movements had little consistent relationship. FHKCX charges 0.91%/yr vs 0.62%/yr for FBIOX.

Performance

FHKCX vs. FBIOX - Performance Comparison

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

Returns By Period

In the year-to-date period, FHKCX achieves a 32.07% return, which is significantly higher than FBIOX's 17.87% return. Over the past 10 years, FHKCX has outperformed FBIOX with an annualized return of 13.85%, while FBIOX has yielded a comparatively lower 10.46% annualized return.

FHKCX

• 1D: 2.36%
• 1M: -2.06%
• 6M: 20.92%
• YTD: 32.07%
• 1Y: 57.10%
• 3Y*: 30.44%
• 5Y*: 9.77%
• 10Y*: 13.85%
• ALL TIME*: 9.99%

FBIOX

• 1D: 2.78%
• 1M: -3.27%
• 6M: 15.66%
• YTD: 17.87%
• 1Y: 53.56%
• 3Y*: 23.49%
• 5Y*: 7.19%
• 10Y*: 10.46%
• ALL TIME*: 12.86%

*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)
FBIOX Fidelity Select Biotechnology Portfolio	$0.00	$0.00	$0.00
FHKCX Fidelity China Region Fund	$0.00	$0.00	$0.00

FHKCX vs. FBIOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHKCX Fidelity China Region Fund	32.07%	42.56%	23.15%	-0.29%	-23.87%	-13.69%	47.85%	35.12%	-17.43%	51.94%
FBIOX Fidelity Select Biotechnology Portfolio	17.87%	36.38%	7.26%	10.09%	-15.87%	-12.26%	38.62%	36.12%	-10.92%	27.87%

Correlation

The correlation between FHKCX and FBIOX is 0.30, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.30
Correlation (3Y) Balances recent behavior with more history.	0.32
Correlation (5Y) Shows whether the relationship held over a longer period.	0.38
Correlation (10Y) Provides a long-term view across more market conditions.	0.41
Correlation (All Time) Calculated using the full available price history since Mar 29, 1996	0.36

The correlation between FHKCX and FBIOX shifts across timeframes, from 0.30 (1 year) to 0.41 (10 years), reflecting how their relationship changes across market environments.

FHKCX vs. FBIOX - Sectors Allocation Comparison

Sectors	FHKCX	FBIOX
Technology	59.9%	-
Consumer Cyclical	8.9%	-
Industrials	7.4%	-
Financial Services	7.0%	-
Communication Services	6.0%	-
Basic Materials	5.5%	-
Healthcare	3.6%	100.0%
Consumer Defensive	1.3%	-
Real Estate	0.3%	-
Energy	-	-
Utilities	-	-

Return for Risk

FHKCX vs. FBIOX — Risk / Return Rank

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

FHKCX

FHKCX Risk / Return Rank: 87
FHKCX Sharpe Ratio Rank: 89
FHKCX Sortino Ratio Rank: 80
FHKCX Omega Ratio Rank: 80
FHKCX Calmar Ratio Rank: 96
FHKCX Martin Ratio Rank: 89

FBIOX

FBIOX Risk / Return Rank: 91
FBIOX Sharpe Ratio Rank: 92
FBIOX Sortino Ratio Rank: 87
FBIOX Omega Ratio Rank: 79
FBIOX Calmar Ratio Rank: 98
FBIOX Martin Ratio Rank: 96

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.

FHKCX vs. FBIOX - Risk-Adjusted Trends Comparison

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

	FHKCX	FBIOX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.46	-0.11
Sortino ratio: Return per unit of downside risk	2.91	3.28	-0.37
Omega ratio: Gain probability vs. loss probability	1.40	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	4.76	7.06	-2.30
Martin ratio: Return relative to average drawdown	13.32	19.14	-5.82

FHKCX vs. FBIOX - Sharpe Ratio Comparison

The current FHKCX Sharpe Ratio is 2.35, which is comparable to the FBIOX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of FHKCX and FBIOX, 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

FHKCX vs. FBIOX - Drawdown Comparison

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

Drawdown Indicators

	FHKCX	FBIOX	Difference
Max Drawdown Largest peak-to-trough decline	-61.96%	-71.98%	+10.02%
Max Drawdown (1Y) Largest decline over 1 year	-12.24%	-7.62%	-4.62%
Max Drawdown (3Y) Largest decline over 3 years	-22.02%	-27.83%	+5.81%
Max Drawdown (5Y) Largest decline over 5 years	-48.17%	-44.87%	-3.30%
Max Drawdown (10Y) Largest decline over 10 years	-58.41%	-48.66%	-9.75%
Current Drawdown Current decline from peak	-5.60%	-4.98%	-0.62%
Average Drawdown Average peak-to-trough decline	-20.18%	-23.54%	+3.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.37%	2.81%	+1.56%

Volatility

FHKCX vs. FBIOX - Volatility Comparison

Fidelity China Region Fund (FHKCX) has a higher volatility of 8.77% compared to Fidelity Select Biotechnology Portfolio (FBIOX) at 7.13%. This indicates that FHKCX's price experiences larger fluctuations and is considered to be riskier than FBIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHKCX	FBIOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.77%	7.13%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	20.87%	17.34%	+3.53%
Volatility (1Y) Calculated over the trailing 1-year period	24.83%	21.89%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.73%	25.17%	-0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.68%	26.19%	-3.51%

FHKCX vs. FBIOX - Expense Ratio Comparison

FHKCX has a 0.91% expense ratio, which is higher than FBIOX's 0.62% expense ratio.

Dividends

FHKCX vs. FBIOX - Dividend Comparison

FHKCX's dividend yield for the trailing twelve months is around 1.33%, less than FBIOX's 5.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBIOX Fidelity Select Biotechnology Portfolio	5.71%	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	1.33%	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 FHKCX and FBIOX in my portfolio?

FHKCX and FBIOX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHKCX or FBIOX?

FHKCX has higher volatility (8.77%) compared to FBIOX (7.13%). In terms of maximum drawdown, FHKCX dropped -61.96% vs FBIOX's -71.98%.

Which has better risk-adjusted returns?

FBIOX currently has the higher Sharpe Ratio (2.46 vs 2.35), 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.