FHKCX vs. RIO

Last updated Jun 9, 2026

FHKCX (Fidelity China Region Fund) is China Equities fund managed by Fidelity, while RIO (Rio Tinto Group) is a stock. Over the past 10 years, FHKCX returned 14.35%/yr vs 21.75%/yr for RIO. At a 0.43 correlation, their price movements are largely independent.

Performance

FHKCX vs. RIO - Performance Comparison

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

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with FHKCX at 29.64% and RIO at 29.64%. Over the past 10 years, FHKCX has underperformed RIO with an annualized return of 14.35%, while RIO has yielded a comparatively higher 21.75% annualized return.

FHKCX

• 1D: -5.93%
• 1M: -3.92%
• YTD: 29.64%
• 6M: 30.43%
• 1Y: 68.65%
• 3Y*: 30.45%
• 5Y*: 7.32%
• 10Y*: 14.35%

RIO

• 1D: 0.24%
• 1M: -4.22%
• YTD: 29.64%
• 6M: 42.09%
• 1Y: 80.02%
• 3Y*: 23.43%
• 5Y*: 10.94%
• 10Y*: 21.75%

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

FHKCX vs. RIO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHKCX Fidelity China Region Fund	29.64%	42.56%	23.15%	-0.29%	-23.87%	-13.69%	47.85%	35.12%	-17.43%	51.94%
RIO Rio Tinto Group	29.64%	44.47%	-15.36%	11.06%	18.48%	-3.67%	36.22%	33.18%	-2.93%	44.87%

Correlation

The correlation between FHKCX and RIO is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996	0.43

The correlation between FHKCX and RIO shifts across timeframes, from 0.43 (all time) to 0.56 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FHKCX vs. RIO — Risk / Return Rank

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

FHKCX

FHKCX Risk / Return Rank: 89
FHKCX Sharpe Ratio Rank: 94
FHKCX Sortino Ratio Rank: 81
FHKCX Omega Ratio Rank: 83
FHKCX Calmar Ratio Rank: 96
FHKCX Martin Ratio Rank: 93

RIO

RIO Risk / Return Rank: 93
RIO Sharpe Ratio Rank: 94
RIO Sortino Ratio Rank: 92
RIO Omega Ratio Rank: 91
RIO Calmar Ratio Rank: 93
RIO 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. RIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity China Region Fund (FHKCX) and Rio Tinto Group (RIO). 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	RIO	Difference
Sharpe ratio: Return per unit of total volatility	3.13	2.79	+0.34
Sortino ratio: Return per unit of downside risk	3.73	3.32	+0.40
Omega ratio: Gain probability vs. loss probability	1.54	1.43	+0.11
Calmar ratio: Return relative to maximum drawdown	6.41	5.30	+1.11
Martin ratio: Return relative to average drawdown	19.68	20.21	-0.53
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. RIO - Sharpe Ratio Comparison

The current FHKCX Sharpe Ratio is 3.13, which is comparable to the RIO Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of FHKCX and RIO, 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	RIO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.13	2.79	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.38	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.71	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.33	+0.10

Drawdowns

FHKCX vs. RIO - Drawdown Comparison

The maximum FHKCX drawdown since its inception was -61.96%, smaller than the maximum RIO drawdown of -88.97%. Use the drawdown chart below to compare losses from any high point for FHKCX and RIO.

Drawdown Indicators

	FHKCX	RIO	Difference
Max Drawdown Largest peak-to-trough decline	-61.96%	-88.97%	+27.01%
Max Drawdown (1Y) Largest decline over 1 year	-10.80%	-15.19%	+4.39%
Max Drawdown (3Y) Largest decline over 3 years	-22.02%	-24.19%	+2.17%
Max Drawdown (5Y) Largest decline over 5 years	-52.42%	-35.25%	-17.17%
Max Drawdown (10Y) Largest decline over 10 years	-58.41%	-37.47%	-20.94%
Current Drawdown Current decline from peak	-7.33%	-9.92%	+2.59%
Average Drawdown Average peak-to-trough decline	-20.26%	-23.77%	+3.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	3.97%	-0.46%

Volatility

FHKCX vs. RIO - Volatility Comparison

The current volatility for Fidelity China Region Fund (FHKCX) is 9.34%, while Rio Tinto Group (RIO) has a volatility of 11.37%. This indicates that FHKCX experiences smaller price fluctuations and is considered to be less risky than RIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHKCX	RIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.34%	11.37%	-2.03%
Volatility (6M) Calculated over the trailing 6-month period	17.87%	23.90%	-6.03%
Volatility (1Y) Calculated over the trailing 1-year period	22.12%	28.93%	-6.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.38%	29.23%	-4.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.40%	30.63%	-8.23%

Dividends

FHKCX vs. RIO - Dividend Comparison

FHKCX's dividend yield for the trailing twelve months is around 1.35%, less than RIO's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHKCX Fidelity China Region Fund	1.35%	1.75%	1.39%	1.92%	1.05%	10.77%	4.85%	0.66%	0.83%	0.39%	1.35%	15.47%
RIO Rio Tinto Group	3.98%	4.66%	7.40%	5.40%	10.48%	10.23%	5.13%	7.68%	6.32%	4.47%	3.93%	7.58%

Frequently Asked Questions

Can I hold both FHKCX and RIO in my portfolio?

FHKCX and RIO have a correlation of 0.54, 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 RIO?

RIO has higher volatility (11.37%) compared to FHKCX (9.34%). In terms of maximum drawdown, FHKCX dropped -61.96% vs RIO's -88.97%.

Which has better risk-adjusted returns?

FHKCX currently has the higher Sharpe Ratio (3.13 vs 2.79), 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.