FHKIX vs. FHKCX

Last updated Jun 3, 2026

FHKIX (Fidelity Advisor China Region Fund Class I) and FHKCX (Fidelity China Region Fund) are both China Equities funds from Fidelity. Over the past 10 years, FHKIX returned 15.11%/yr vs 15.11%/yr for FHKCX. With a 1.00 correlation, they move nearly in lockstep. FHKIX charges 0.93%/yr vs 0.91%/yr for FHKCX.

Performance

FHKIX vs. FHKCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor China Region Fund Class I (FHKIX) and Fidelity China Region Fund (FHKCX). 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 FHKIX having a 36.35% return and FHKCX slightly lower at 36.34%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: FHKIX at 15.11% and FHKCX at 15.11%.

FHKIX

• 1D: 1.13%
• 1M: 5.70%
• YTD: 36.35%
• 6M: 39.14%
• 1Y: 82.77%
• 3Y*: 32.99%
• 5Y*: 8.21%
• 10Y*: 15.11%

FHKCX

• 1D: 1.12%
• 1M: 5.69%
• YTD: 36.34%
• 6M: 39.11%
• 1Y: 82.77%
• 3Y*: 32.96%
• 5Y*: 8.19%
• 10Y*: 15.11%

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

FHKIX vs. FHKCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHKIX Fidelity Advisor China Region Fund Class I	36.35%	42.60%	23.15%	-0.28%	-23.85%	-13.71%	47.80%	35.11%	-17.43%	51.93%
FHKCX Fidelity China Region Fund	36.34%	42.56%	23.15%	-0.29%	-23.87%	-13.69%	47.85%	35.12%	-17.43%	51.94%

Correlation

The correlation between FHKIX and FHKCX 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 9, 2008	1.00

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

Return for Risk

FHKIX vs. FHKCX — Risk / Return Rank

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

FHKIX

FHKIX Risk / Return Rank: 95
FHKIX Sharpe Ratio Rank: 98
FHKIX Sortino Ratio Rank: 93
FHKIX Omega Ratio Rank: 91
FHKIX Calmar Ratio Rank: 98
FHKIX Martin Ratio Rank: 96

FHKCX

FHKCX Risk / Return Rank: 95
FHKCX Sharpe Ratio Rank: 98
FHKCX Sortino Ratio Rank: 93
FHKCX Omega Ratio Rank: 91
FHKCX Calmar Ratio Rank: 97
FHKCX 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.

FHKIX vs. FHKCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor China Region Fund Class I (FHKIX) and Fidelity China Region Fund (FHKCX). 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	FHKCX	Difference
Sharpe ratio Return per unit of total volatility	4.00	4.00	0.00
Sortino ratio Return per unit of downside risk	4.71	4.71	0.00
Omega ratio Gain probability vs. loss probability	1.67	1.67	0.00
Calmar ratio Return relative to maximum drawdown	7.55	7.55	0.00
Martin ratio Return relative to average drawdown	23.45	23.43	+0.02
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. FHKCX - Sharpe Ratio Comparison

The current FHKIX Sharpe Ratio is 4.00, which is comparable to the FHKCX Sharpe Ratio of 4.00. The chart below compares the historical Sharpe Ratios of FHKIX and FHKCX, 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

	FHKIX	FHKCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.00	4.00	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.34	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.68	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.44	-0.05

Drawdowns

FHKIX vs. FHKCX - Drawdown Comparison

The maximum FHKIX drawdown since its inception was -58.42%, smaller than the maximum FHKCX drawdown of -61.96%. Use the drawdown chart below to compare losses from any high point for FHKIX and FHKCX.

Drawdown Indicators

	FHKIX	FHKCX	Difference
Max Drawdown Largest peak-to-trough decline	-58.42%	-61.96%	+3.54%
Max Drawdown (1Y) Largest decline over 1 year	-10.80%	-10.80%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-22.02%	-22.02%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-52.42%	-52.42%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-58.42%	-58.41%	-0.01%
Current Drawdown Current decline from peak	-0.73%	-0.73%	0.00%
Average Drawdown Average peak-to-trough decline	-18.68%	-20.27%	+1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	3.48%	0.00%

Volatility

FHKIX vs. FHKCX - Volatility Comparison

Fidelity Advisor China Region Fund Class I (FHKIX) and Fidelity China Region Fund (FHKCX) have volatilities of 7.07% and 7.07%, 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

	FHKIX	FHKCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.07%	7.07%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	16.47%	16.47%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	21.17%	21.17%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.20%	24.22%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.31%	22.31%	0.00%

FHKIX vs. FHKCX - Expense Ratio Comparison

FHKIX has a 0.93% expense ratio, which is higher than FHKCX's 0.91% expense ratio.

Dividends

FHKIX vs. FHKCX - Dividend Comparison

FHKIX's dividend yield for the trailing twelve months is around 1.35%, more than FHKCX's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHKCX Fidelity China Region Fund	1.28%	1.75%	1.39%	1.92%	1.05%	10.77%	4.85%	0.66%	0.83%	0.39%	1.35%	15.47%
FHKIX Fidelity Advisor China Region Fund Class I	1.35%	1.84%	1.44%	1.89%	1.04%	10.81%	4.90%	0.65%	0.79%	0.44%	1.40%	15.62%

Frequently Asked Questions

Can I hold both FHKIX and FHKCX in my portfolio?

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

FHKCX has higher volatility (7.07%) compared to FHKIX (7.07%). In terms of maximum drawdown, FHKIX dropped -58.42% vs FHKCX's -61.96%.

Which has better risk-adjusted returns?

FHKIX currently has the higher Sharpe Ratio (4.00 vs 4.00), 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.