FHKCX vs. QQ.L
FHKCX (Fidelity China Region Fund) is China Equities fund managed by Fidelity, while QQ.L (QinetiQ Group plc) is a stock. Over the past 10 years, FHKCX returned 15.22%/yr vs 9.23%/yr for QQ.L. At a 0.25 correlation, their price movements are largely independent.
Performance
FHKCX vs. QQ.L - Performance Comparison
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Different Trading Currencies
FHKCX is traded in USD, while QQ.L is traded in GBp. To make them comparable, the QQ.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FHKCX achieves a 33.90% return, which is significantly higher than QQ.L's 7.41% return. Over the past 10 years, FHKCX has outperformed QQ.L with an annualized return of 15.22%, while QQ.L has yielded a comparatively lower 9.23% annualized return.
FHKCX
- 1D
- 4.07%
- 1M
- -0.99%
- YTD
- 33.90%
- 6M
- 36.76%
- 1Y
- 69.00%
- 3Y*
- 31.30%
- 5Y*
- 8.13%
- 10Y*
- 15.22%
QQ.L
- 1D
- -2.10%
- 1M
- 14.75%
- YTD
- 7.41%
- 6M
- 10.91%
- 1Y
- -6.03%
- 3Y*
- 13.28%
- 5Y*
- 7.40%
- 10Y*
- 9.23%
FHKCX vs. QQ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHKCX Fidelity China Region Fund | 33.90% | 42.56% | 23.15% | -0.29% | -23.87% | -13.69% | 47.85% | 35.12% | -17.43% | 51.94% |
QQ.L QinetiQ Group plc | 7.41% | 16.51% | 34.93% | -6.83% | 22.49% | -15.85% | -5.88% | 32.93% | 19.94% | -1.29% |
Correlation
The correlation between FHKCX and QQ.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2007 | 0.25 |
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Return for Risk
FHKCX vs. QQ.L — Risk / Return Rank
FHKCX
QQ.L
FHKCX vs. QQ.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity China Region Fund (FHKCX) and QinetiQ Group plc (QQ.L). 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 | QQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.27 | ||
| Sortino ratioReturn per unit of downside risk | +3.76 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 0.99 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 6.43 | -0.22 | +6.65 |
| Martin ratioReturn relative to average drawdown | 19.26 | -0.46 | +19.71 |
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Drawdowns
FHKCX vs. QQ.L - Drawdown Comparison
The maximum FHKCX drawdown since its inception was -61.96%, roughly equal to the maximum QQ.L drawdown of -61.16%. Use the drawdown chart below to compare losses from any high point for FHKCX and QQ.L.
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Drawdown Indicators
| FHKCX | QQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.96% | -61.16% | -0.80% |
Max Drawdown (1Y)Largest decline over 1 year | -10.80% | -27.17% | +16.37% |
Max Drawdown (3Y)Largest decline over 3 years | -22.02% | -32.62% | +10.60% |
Max Drawdown (5Y)Largest decline over 5 years | -52.42% | -33.81% | -18.61% |
Max Drawdown (10Y)Largest decline over 10 years | -58.41% | -43.00% | -15.41% |
Current DrawdownCurrent decline from peak | -4.29% | -16.76% | +12.47% |
Average DrawdownAverage peak-to-trough decline | -20.25% | -20.64% | +0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 13.21% | -9.61% |
Volatility
FHKCX vs. QQ.L - Volatility Comparison
The current volatility for Fidelity China Region Fund (FHKCX) is 10.32%, while QinetiQ Group plc (QQ.L) has a volatility of 11.53%. This indicates that FHKCX experiences smaller price fluctuations and is considered to be less risky than QQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHKCX | QQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.32% | 11.53% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 18.40% | 23.14% | -4.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.56% | 31.96% | -9.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.47% | 32.45% | -7.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.44% | 31.01% | -8.57% |
Dividends
FHKCX vs. QQ.L - Dividend Comparison
FHKCX's dividend yield for the trailing twelve months is around 1.31%, less than QQ.L's 1.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHKCX Fidelity China Region Fund | 1.31% | 1.75% | 1.39% | 1.92% | 1.05% | 10.77% | 4.85% | 0.66% | 0.83% | 0.39% | 1.35% | 15.47% |
QQ.L QinetiQ Group plc | 1.91% | 2.00% | 1.99% | 2.49% | 2.04% | 2.59% | 2.06% | 1.84% | 2.20% | 2.60% | 2.17% | 1.99% |
Frequently Asked Questions
FHKCX and QQ.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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