FHKIX vs. ACEYX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor China Region Fund Class I (FHKIX) and AB All China Equity Portfolio (ACEYX).

FHKIX is managed by Fidelity. It was launched on May 9, 2008. ACEYX is managed by AllianceBernstein. It was launched on Jul 24, 2018.

Performance

FHKIX vs. ACEYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor China Region Fund Class I (FHKIX) and AB All China Equity Portfolio (ACEYX). The values are adjusted to include any dividend payments, if applicable.

FHKIX vs. ACEYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHKIX Fidelity Advisor China Region Fund Class I	5.50%	42.60%	23.15%	-0.28%	-23.85%	-13.71%	47.80%	35.11%	-17.47%
ACEYX AB All China Equity Portfolio	-6.20%	33.91%	17.44%	-10.96%	-26.65%	-14.65%	25.38%	37.67%	-21.60%

Returns By Period

In the year-to-date period, FHKIX achieves a 5.50% return, which is significantly higher than ACEYX's -6.20% return.

FHKIX

• 1D: -0.66%
• 1M: -9.04%
• YTD: 5.50%
• 6M: 6.28%
• 1Y: 43.84%
• 3Y*: 19.88%
• 5Y*: 2.81%
• 10Y*: 12.16%

ACEYX

• 1D: 0.63%
• 1M: -9.15%
• YTD: -6.20%
• 6M: -10.46%
• 1Y: 12.86%
• 3Y*: 7.76%
• 5Y*: -3.85%
• 10Y*: —

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

FHKIX vs. ACEYX - Expense Ratio Comparison

FHKIX has a 0.93% expense ratio, which is lower than ACEYX's 1.25% expense ratio.

ACEYX

AB All China Equity Portfolio

FHKIX

Fidelity Advisor China Region Fund Class I

Return for Risk

FHKIX vs. ACEYX — Risk / Return Rank

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

FHKIX

FHKIX Risk / Return Rank: 88
FHKIX Sharpe Ratio Rank: 90
FHKIX Sortino Ratio Rank: 88
FHKIX Omega Ratio Rank: 85
FHKIX Calmar Ratio Rank: 90
FHKIX Martin Ratio Rank: 89

ACEYX

ACEYX Risk / Return Rank: 20
ACEYX Sharpe Ratio Rank: 21
ACEYX Sortino Ratio Rank: 20
ACEYX Omega Ratio Rank: 19
ACEYX Calmar Ratio Rank: 22
ACEYX Martin Ratio Rank: 19

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.

FHKIX vs. ACEYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor China Region Fund Class I (FHKIX) and AB All China Equity Portfolio (ACEYX). 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.

	FHKIX	ACEYX	Difference
Sharpe ratio Return per unit of total volatility	1.87	0.57	+1.29
Sortino ratio Return per unit of downside risk	2.41	0.87	+1.54
Omega ratio Gain probability vs. loss probability	1.35	1.12	+0.23
Calmar ratio Return relative to maximum drawdown	2.51	0.66	+1.85
Martin ratio Return relative to average drawdown	9.74	2.04	+7.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHKIX vs. ACEYX - Sharpe Ratio Comparison

The current FHKIX Sharpe Ratio is 1.87, which is higher than the ACEYX Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of FHKIX and ACEYX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FHKIX	ACEYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	0.57	+1.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	-0.17	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.06	+0.27

Correlation

The correlation between FHKIX and ACEYX is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FHKIX vs. ACEYX - Dividend Comparison

FHKIX's dividend yield for the trailing twelve months is around 1.74%, less than ACEYX's 5.29% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHKIX Fidelity Advisor China Region Fund Class I	1.74%	1.84%	1.44%	1.89%	1.04%	10.81%	4.90%	0.65%	0.79%	0.44%	1.40%	15.62%
ACEYX AB All China Equity Portfolio	5.29%	4.97%	3.75%	2.17%	1.39%	1.81%	0.43%	1.13%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FHKIX vs. ACEYX - Drawdown Comparison

The maximum FHKIX drawdown since its inception was -58.42%, roughly equal to the maximum ACEYX drawdown of -57.58%. Use the drawdown chart below to compare losses from any high point for FHKIX and ACEYX.

Drawdown Indicators

	FHKIX	ACEYX	Difference
Max Drawdown Largest peak-to-trough decline	-58.42%	-57.58%	-0.84%
Max Drawdown (1Y) Largest decline over 1 year	-15.94%	-14.86%	-1.08%
Max Drawdown (5Y) Largest decline over 5 years	-53.83%	-51.51%	-2.32%
Max Drawdown (10Y) Largest decline over 10 years	-58.42%	—	—
Current Drawdown Current decline from peak	-10.80%	-30.42%	+19.62%
Average Drawdown Average peak-to-trough decline	-18.84%	-27.81%	+8.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	5.01%	-0.90%

Volatility

FHKIX vs. ACEYX - Volatility Comparison

Fidelity Advisor China Region Fund Class I (FHKIX) has a higher volatility of 9.27% compared to AB All China Equity Portfolio (ACEYX) at 6.13%. This indicates that FHKIX's price experiences larger fluctuations and is considered to be riskier than ACEYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHKIX	ACEYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.27%	6.13%	+3.14%
Volatility (6M) Calculated over the trailing 6-month period	16.45%	13.51%	+2.94%
Volatility (1Y) Calculated over the trailing 1-year period	23.16%	20.99%	+2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.95%	23.22%	+0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.09%	23.65%	-1.56%