FHKTX vs. FHKAX

Last updated Jun 4, 2026

FHKTX (Fidelity Advisor China Region Fund Class M) and FHKAX (Fidelity Advisor China Region Fund Class A) are both China Equities funds from Fidelity. Over the past 10 years, FHKTX returned 14.73%/yr vs 15.07%/yr for FHKAX. With a 1.00 correlation, they move nearly in lockstep. FHKTX charges 1.50%/yr vs 1.21%/yr for FHKAX.

Performance

FHKTX vs. FHKAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor China Region Fund Class M (FHKTX) and Fidelity Advisor China Region Fund Class A (FHKAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FHKTX having a 39.58% return and FHKAX slightly higher at 39.74%. Both investments have delivered pretty close results over the past 10 years, with FHKTX having a 14.73% annualized return and FHKAX not far ahead at 15.07%.

FHKTX

• 1D: 2.61%
• 1M: 7.14%
• YTD: 39.58%
• 6M: 42.70%
• 1Y: 85.69%
• 3Y*: 33.42%
• 5Y*: 8.49%
• 10Y*: 14.73%

FHKAX

• 1D: 2.61%
• 1M: 7.19%
• YTD: 39.74%
• 6M: 42.89%
• 1Y: 86.17%
• 3Y*: 33.75%
• 5Y*: 8.78%
• 10Y*: 15.07%

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

FHKTX vs. FHKAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHKTX Fidelity Advisor China Region Fund Class M	39.58%	41.85%	22.53%	-0.84%	-24.32%	-14.20%	46.95%	34.26%	-17.96%	50.94%
FHKAX Fidelity Advisor China Region Fund Class A	39.74%	42.19%	22.84%	-0.60%	-24.09%	-13.95%	47.37%	34.71%	-17.67%	51.46%

Correlation

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

Return for Risk

FHKTX vs. FHKAX — Risk / Return Rank

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

FHKTX

FHKTX Risk / Return Rank: 95
FHKTX Sharpe Ratio Rank: 98
FHKTX Sortino Ratio Rank: 94
FHKTX Omega Ratio Rank: 91
FHKTX Calmar Ratio Rank: 98
FHKTX Martin Ratio Rank: 96

FHKAX

FHKAX Risk / Return Rank: 96
FHKAX Sharpe Ratio Rank: 98
FHKAX Sortino Ratio Rank: 94
FHKAX Omega Ratio Rank: 92
FHKAX Calmar Ratio Rank: 98
FHKAX 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.

FHKTX vs. FHKAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor China Region Fund Class M (FHKTX) and Fidelity Advisor China Region Fund Class A (FHKAX). 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.

	FHKTX	FHKAX	Difference
Sharpe ratio: Return per unit of total volatility	4.09	4.12	-0.02
Sortino ratio: Return per unit of downside risk	4.81	4.83	-0.02
Omega ratio: Gain probability vs. loss probability	1.68	1.69	0.00
Calmar ratio: Return relative to maximum drawdown	8.03	8.08	-0.05
Martin ratio: Return relative to average drawdown	24.82	25.04	-0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHKTX vs. FHKAX - Sharpe Ratio Comparison

The current FHKTX Sharpe Ratio is 4.09, which is comparable to the FHKAX Sharpe Ratio of 4.12. The chart below compares the historical Sharpe Ratios of FHKTX and FHKAX, 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

	FHKTX	FHKAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.09	4.12	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.36	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.68	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.38	-0.01

Drawdowns

FHKTX vs. FHKAX - Drawdown Comparison

The maximum FHKTX drawdown since its inception was -58.83%, roughly equal to the maximum FHKAX drawdown of -58.62%. Use the drawdown chart below to compare losses from any high point for FHKTX and FHKAX.

Drawdown Indicators

	FHKTX	FHKAX	Difference
Max Drawdown Largest peak-to-trough decline	-58.83%	-58.62%	-0.21%
Max Drawdown (1Y) Largest decline over 1 year	-10.83%	-10.83%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-22.25%	-22.15%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-52.80%	-52.60%	-0.20%
Max Drawdown (10Y) Largest decline over 10 years	-58.83%	-58.62%	-0.21%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-19.11%	-18.99%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	3.49%	+0.01%

Volatility

FHKTX vs. FHKAX - Volatility Comparison

Fidelity Advisor China Region Fund Class M (FHKTX) and Fidelity Advisor China Region Fund Class A (FHKAX) have volatilities of 7.43% and 7.43%, 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

	FHKTX	FHKAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.43%	7.43%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	16.63%	16.64%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	21.25%	21.26%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.24%	24.23%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.32%	22.32%	0.00%

FHKTX vs. FHKAX - Expense Ratio Comparison

FHKTX has a 1.50% expense ratio, which is higher than FHKAX's 1.21% expense ratio.

Dividends

FHKTX vs. FHKAX - Dividend Comparison

FHKTX's dividend yield for the trailing twelve months is around 0.91%, less than FHKAX's 1.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHKAX Fidelity Advisor China Region Fund Class A	1.14%	1.59%	1.22%	1.58%	0.59%	10.80%	4.71%	0.38%	0.39%	0.21%	0.99%	15.33%
FHKTX Fidelity Advisor China Region Fund Class M	0.91%	1.27%	1.10%	1.27%	0.29%	10.88%	4.51%	0.02%	0.00%	0.00%	0.69%	14.81%

Frequently Asked Questions

Can I hold both FHKTX and FHKAX in my portfolio?

With a correlation of 1.00, FHKTX and FHKAX 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, FHKTX or FHKAX?

FHKAX has higher volatility (7.43%) compared to FHKTX (7.43%). In terms of maximum drawdown, FHKTX dropped -58.83% vs FHKAX's -58.62%.

Which has better risk-adjusted returns?

FHKAX currently has the higher Sharpe Ratio (4.12 vs 4.09), 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.