FHKFX vs. IFN

Last updated Jun 4, 2026

FHKFX (Fidelity Series Emerging Markets Fund) and IFN (The India Fund) are both Emerging Markets Equities funds. Over the past 5 years, FHKFX returned 8.35%/yr vs 0.25%/yr for IFN. A 0.53 correlation means they provide meaningful diversification when combined. FHKFX charges 0.01%/yr vs 0.01%/yr for IFN.

Performance

FHKFX vs. IFN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Emerging Markets Fund (FHKFX) and The India Fund (IFN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHKFX achieves a 35.18% return, which is significantly higher than IFN's -15.46% return.

FHKFX

• 1D: 1.34%
• 1M: 9.00%
• YTD: 35.18%
• 6M: 38.31%
• 1Y: 68.41%
• 3Y*: 27.98%
• 5Y*: 8.35%
• 10Y*: —

IFN

• 1D: -1.45%
• 1M: -5.23%
• YTD: -15.46%
• 6M: -17.27%
• 1Y: -22.15%
• 3Y*: 0.84%
• 5Y*: 0.25%
• 10Y*: 5.99%

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

FHKFX vs. IFN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHKFX Fidelity Series Emerging Markets Fund	35.18%	38.51%	5.42%	12.10%	-24.50%	-4.15%	17.85%	9.64%	-8.52%
IFN The India Fund	-15.46%	0.42%	-2.26%	36.48%	-15.85%	22.31%	12.25%	11.27%	-8.05%

Correlation

The correlation between FHKFX and IFN is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Aug 30, 2018	0.53

The correlation between FHKFX and IFN shifts across timeframes, from 0.39 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FHKFX vs. IFN — Risk / Return Rank

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

FHKFX

FHKFX Risk / Return Rank: 93
FHKFX Sharpe Ratio Rank: 97
FHKFX Sortino Ratio Rank: 90
FHKFX Omega Ratio Rank: 90
FHKFX Calmar Ratio Rank: 94
FHKFX Martin Ratio Rank: 94

IFN

IFN Risk / Return Rank: 0
IFN Sharpe Ratio Rank: 0
IFN Sortino Ratio Rank: 0
IFN Omega Ratio Rank: 0
IFN Calmar Ratio Rank: 0
IFN Martin Ratio Rank: 0

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.

FHKFX vs. IFN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Emerging Markets Fund (FHKFX) and The India Fund (IFN). 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.

	FHKFX	IFN	Difference
Sharpe ratio: Return per unit of total volatility	3.62	-1.35	+4.97
Sortino ratio: Return per unit of downside risk	4.40	-2.00	+6.40
Omega ratio: Gain probability vs. loss probability	1.65	0.79	+0.86
Calmar ratio: Return relative to maximum drawdown	5.49	-0.85	+6.34
Martin ratio: Return relative to average drawdown	20.76	-1.88	+22.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHKFX vs. IFN - Sharpe Ratio Comparison

The current FHKFX Sharpe Ratio is 3.62, which is higher than the IFN Sharpe Ratio of -1.35. The chart below compares the historical Sharpe Ratios of FHKFX and IFN, 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

	FHKFX	IFN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.62	-1.35	+4.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.01	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.23	+0.21

Drawdowns

FHKFX vs. IFN - Drawdown Comparison

The maximum FHKFX drawdown since its inception was -45.47%, smaller than the maximum IFN drawdown of -71.52%. Use the drawdown chart below to compare losses from any high point for FHKFX and IFN.

Drawdown Indicators

	FHKFX	IFN	Difference
Max Drawdown Largest peak-to-trough decline	-45.47%	-71.52%	+26.05%
Max Drawdown (1Y) Largest decline over 1 year	-12.54%	-26.05%	+13.51%
Max Drawdown (3Y) Largest decline over 3 years	-16.71%	-31.53%	+14.82%
Max Drawdown (5Y) Largest decline over 5 years	-42.10%	-31.53%	-10.57%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.48%	—
Current Drawdown Current decline from peak	0.00%	-29.31%	+29.31%
Average Drawdown Average peak-to-trough decline	-17.23%	-25.89%	+8.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	11.78%	-8.47%

Volatility

FHKFX vs. IFN - Volatility Comparison

Fidelity Series Emerging Markets Fund (FHKFX) has a higher volatility of 7.75% compared to The India Fund (IFN) at 5.53%. This indicates that FHKFX's price experiences larger fluctuations and is considered to be riskier than IFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHKFX	IFN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.75%	5.53%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	16.26%	13.39%	+2.87%
Volatility (1Y) Calculated over the trailing 1-year period	19.01%	16.41%	+2.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	17.67%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.70%	18.90%	+0.80%

FHKFX vs. IFN - Expense Ratio Comparison

FHKFX has a 0.01% expense ratio, which is lower than IFN's 0.01% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FHKFX vs. IFN - Dividend Comparison

FHKFX's dividend yield for the trailing twelve months is around 1.76%, less than IFN's 20.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHKFX Fidelity Series Emerging Markets Fund	1.76%	2.38%	2.86%	2.43%	2.56%	3.46%	1.38%	2.28%	0.42%	0.00%	0.00%	0.00%
IFN The India Fund	20.07%	16.09%	14.60%	8.97%	21.47%	15.21%	9.77%	11.57%	22.25%	12.11%	7.97%	8.02%

Frequently Asked Questions

Can I hold both FHKFX and IFN in my portfolio?

FHKFX and IFN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHKFX or IFN?

FHKFX has higher volatility (7.75%) compared to IFN (5.53%). In terms of maximum drawdown, FHKFX dropped -45.47% vs IFN's -71.52%.

Which has better risk-adjusted returns?

FHKFX currently has the higher Sharpe Ratio (3.62 vs -1.35), 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.