FHKCX vs. FCHKX

Last updated Jun 4, 2026

FHKCX (Fidelity China Region Fund) and FCHKX (Fidelity Advisor China Region Fund Class C) are both China Equities funds from Fidelity. Over the past 10 years, FHKCX returned 15.41%/yr vs 14.23%/yr for FCHKX. With a 1.00 correlation, they move nearly in lockstep. FHKCX charges 0.91%/yr vs 1.96%/yr for FCHKX.

Performance

FHKCX vs. FCHKX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FHKCX having a 39.90% return and FCHKX slightly lower at 39.30%. Over the past 10 years, FHKCX has outperformed FCHKX with an annualized return of 15.41%, while FCHKX has yielded a comparatively lower 14.23% annualized return.

FHKCX

• 1D: 2.61%
• 1M: 7.20%
• YTD: 39.90%
• 6M: 43.06%
• 1Y: 86.69%
• 3Y*: 34.11%
• 5Y*: 9.09%
• 10Y*: 15.41%

FCHKX

• 1D: 2.60%
• 1M: 7.10%
• YTD: 39.30%
• 6M: 42.37%
• 1Y: 84.77%
• 3Y*: 32.76%
• 5Y*: 7.98%
• 10Y*: 14.23%

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

FHKCX vs. FCHKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHKCX Fidelity China Region Fund	39.90%	42.56%	23.15%	-0.29%	-23.87%	-13.69%	47.85%	35.12%	-17.43%	51.94%
FCHKX Fidelity Advisor China Region Fund Class C	39.30%	41.13%	21.90%	-1.27%	-24.66%	-14.60%	46.29%	33.74%	-18.29%	50.37%

Correlation

The correlation between FHKCX and FCHKX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since May 16, 2008	1.00

The correlation between FHKCX and FCHKX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

FHKCX vs. FCHKX - Sectors Allocation Comparison

Sectors	FHKCX	FCHKX
Technology	50.8%	50.8%
Consumer Cyclical	11.3%	11.3%
Financial Services	10.6%	10.6%
Communication Services	9.0%	9.0%
Industrials	7.0%	7.0%
Basic Materials	5.5%	5.5%
Healthcare	4.1%	4.1%
Consumer Defensive	1.2%	1.2%
Real Estate	0.5%	0.5%
Energy	-	-
Utilities	-	-

Return for Risk

FHKCX vs. FCHKX — Risk / Return Rank

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

FHKCX

FHKCX Risk / Return Rank: 96
FHKCX Sharpe Ratio Rank: 99
FHKCX Sortino Ratio Rank: 94
FHKCX Omega Ratio Rank: 92
FHKCX Calmar Ratio Rank: 98
FHKCX Martin Ratio Rank: 97

FCHKX

FCHKX Risk / Return Rank: 95
FCHKX Sharpe Ratio Rank: 98
FCHKX Sortino Ratio Rank: 93
FCHKX Omega Ratio Rank: 92
FCHKX Calmar Ratio Rank: 98
FCHKX Martin Ratio Rank: 96

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.

FHKCX vs. FCHKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity China Region Fund (FHKCX) and Fidelity Advisor China Region Fund Class C (FCHKX). 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.

	FHKCX	FCHKX	Difference
Sharpe ratio Return per unit of total volatility	4.14	4.05	+0.09
Sortino ratio Return per unit of downside risk	4.85	4.77	+0.08
Omega ratio Gain probability vs. loss probability	1.69	1.68	+0.01
Calmar ratio Return relative to maximum drawdown	8.15	7.91	+0.24
Martin ratio Return relative to average drawdown	25.25	24.44	+0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHKCX vs. FCHKX - Sharpe Ratio Comparison

The current FHKCX Sharpe Ratio is 4.14, which is comparable to the FCHKX Sharpe Ratio of 4.05. The chart below compares the historical Sharpe Ratios of FHKCX and FCHKX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FHKCX	FCHKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.14	4.05	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.33	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.64	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.25	+0.19

Drawdowns

FHKCX vs. FCHKX - Drawdown Comparison

The maximum FHKCX drawdown since its inception was -61.96%, roughly equal to the maximum FCHKX drawdown of -59.14%. Use the drawdown chart below to compare losses from any high point for FHKCX and FCHKX.

Drawdown Indicators

	FHKCX	FCHKX	Difference
Max Drawdown Largest peak-to-trough decline	-61.96%	-59.14%	-2.82%
Max Drawdown (1Y) Largest decline over 1 year	-10.80%	-10.88%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-22.02%	-22.42%	+0.40%
Max Drawdown (5Y) Largest decline over 5 years	-52.42%	-53.07%	+0.65%
Max Drawdown (10Y) Largest decline over 10 years	-58.41%	-59.14%	+0.73%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-20.26%	-21.33%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	3.52%	-0.04%

Volatility

FHKCX vs. FCHKX - Volatility Comparison

Fidelity China Region Fund (FHKCX) and Fidelity Advisor China Region Fund Class C (FCHKX) have volatilities of 7.43% and 7.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHKCX	FCHKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	7.43%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	16.63%	16.64%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	21.26%	21.26%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.24%	24.23%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.33%	22.32%	+0.01%

FHKCX vs. FCHKX - Expense Ratio Comparison

FHKCX has a 0.91% expense ratio, which is lower than FCHKX's 1.96% expense ratio.

Dividends

FHKCX vs. FCHKX - Dividend Comparison

FHKCX's dividend yield for the trailing twelve months is around 1.25%, more than FCHKX's 0.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCHKX Fidelity Advisor China Region Fund Class C	0.63%	0.88%	0.63%	0.63%	0.00%	11.31%	4.38%	0.00%	0.00%	0.00%	0.08%	0.00%
FHKCX Fidelity China Region Fund	1.25%	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 FCHKX in my portfolio?

With a correlation of 1.00, FHKCX and FCHKX 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, FHKCX or FCHKX?

FCHKX has higher volatility (7.43%) compared to FHKCX (7.43%). In terms of maximum drawdown, FHKCX dropped -61.96% vs FCHKX's -59.14%.

Which has better risk-adjusted returns?

FHKCX currently has the higher Sharpe Ratio (4.14 vs 4.05), 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.