FHLC vs. FHCCX

Last updated Jun 4, 2026

FHLC (Fidelity MSCI Health Care Index ETF) and FHCCX (Fidelity Advisor Health Care Fund Class C) are both Health & Biotech Equities funds from Fidelity. Over the past 10 years, FHLC returned 9.14%/yr vs 5.39%/yr for FHCCX. Their correlation of 0.91 suggests significant overlap in exposure. FHLC charges 0.08%/yr vs 1.72%/yr for FHCCX.

Performance

FHLC vs. FHCCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Health Care Index ETF (FHLC) and Fidelity Advisor Health Care Fund Class C (FHCCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHLC achieves a -3.90% return, which is significantly higher than FHCCX's -5.48% return. Over the past 10 years, FHLC has outperformed FHCCX with an annualized return of 9.14%, while FHCCX has yielded a comparatively lower 5.39% annualized return.

FHLC

• 1D: 0.82%
• 1M: 1.50%
• YTD: -3.90%
• 6M: -4.11%
• 1Y: 14.43%
• 3Y*: 6.14%
• 5Y*: 4.50%
• 10Y*: 9.14%

FHCCX

• 1D: -1.83%
• 1M: -1.14%
• YTD: -5.48%
• 6M: -22.16%
• 1Y: -5.48%
• 3Y*: -2.55%
• 5Y*: -2.61%
• 10Y*: 5.39%

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

FHLC vs. FHCCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHLC Fidelity MSCI Health Care Index ETF	-3.90%	15.42%	2.48%	2.58%	-5.55%	20.39%	18.13%	21.94%	4.71%	23.34%
FHCCX Fidelity Advisor Health Care Fund Class C	-5.48%	-5.49%	3.20%	3.02%	-13.72%	10.43%	20.15%	26.96%	6.37%	23.12%

Correlation

The correlation between FHLC and FHCCX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 25, 2013	0.91

The correlation between FHLC and FHCCX has been stable across timeframes, ranging from 0.81 to 0.91 - a consistent structural relationship.

FHLC vs. FHCCX - Sectors Allocation Comparison

Sectors	FHLC	FHCCX
Healthcare	99.6%	100.0%
Financial Services	0.1%	-
Technology	0.0%	-
Industrials	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FHLC vs. FHCCX — Risk / Return Rank

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

FHLC

FHLC Risk / Return Rank: 27
FHLC Sharpe Ratio Rank: 27
FHLC Sortino Ratio Rank: 29
FHLC Omega Ratio Rank: 26
FHLC Calmar Ratio Rank: 28
FHLC Martin Ratio Rank: 26

FHCCX

FHCCX Risk / Return Rank: 2
FHCCX Sharpe Ratio Rank: 2
FHCCX Sortino Ratio Rank: 2
FHCCX Omega Ratio Rank: 2
FHCCX Calmar Ratio Rank: 2
FHCCX Martin Ratio Rank: 2

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.

FHLC vs. FHCCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Health Care Index ETF (FHLC) and Fidelity Advisor Health Care Fund Class C (FHCCX). 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.

	FHLC	FHCCX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	-0.22	+1.23
Sortino ratio: Return per unit of downside risk	1.58	-0.12	+1.70
Omega ratio: Gain probability vs. loss probability	1.18	0.98	+0.20
Calmar ratio: Return relative to maximum drawdown	1.40	-0.19	+1.59
Martin ratio: Return relative to average drawdown	3.52	-0.36	+3.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHLC vs. FHCCX - Sharpe Ratio Comparison

The current FHLC Sharpe Ratio is 1.01, which is higher than the FHCCX Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of FHLC and FHCCX, 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

	FHLC	FHCCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	-0.22	+1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	-0.13	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.28	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.46	+0.15

Drawdowns

FHLC vs. FHCCX - Drawdown Comparison

The maximum FHLC drawdown since its inception was -28.76%, smaller than the maximum FHCCX drawdown of -45.28%. Use the drawdown chart below to compare losses from any high point for FHLC and FHCCX.

Drawdown Indicators

	FHLC	FHCCX	Difference
Max Drawdown Largest peak-to-trough decline	-28.76%	-45.28%	+16.52%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-27.25%	+16.87%
Max Drawdown (3Y) Largest decline over 3 years	-16.87%	-27.25%	+10.38%
Max Drawdown (5Y) Largest decline over 5 years	-17.73%	-29.67%	+11.94%
Max Drawdown (10Y) Largest decline over 10 years	-28.76%	-29.67%	+0.91%
Current Drawdown Current decline from peak	-6.96%	-23.77%	+16.81%
Average Drawdown Average peak-to-trough decline	-5.19%	-10.19%	+5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	14.26%	-10.15%

Volatility

FHLC vs. FHCCX - Volatility Comparison

The current volatility for Fidelity MSCI Health Care Index ETF (FHLC) is 4.05%, while Fidelity Advisor Health Care Fund Class C (FHCCX) has a volatility of 5.07%. This indicates that FHLC experiences smaller price fluctuations and is considered to be less risky than FHCCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHLC	FHCCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	5.07%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	22.60%	-12.49%
Volatility (1Y) Calculated over the trailing 1-year period	14.33%	23.64%	-9.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.97%	19.54%	-4.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.81%	19.57%	-2.76%

FHLC vs. FHCCX - Expense Ratio Comparison

FHLC has a 0.08% expense ratio, which is lower than FHCCX's 1.72% expense ratio.

Dividends

FHLC vs. FHCCX - Dividend Comparison

FHLC's dividend yield for the trailing twelve months is around 1.43%, while FHCCX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHCCX Fidelity Advisor Health Care Fund Class C	0.00%	0.00%	17.59%	0.00%	0.00%	8.32%	6.85%	0.41%	6.43%	0.00%	0.00%	7.84%
FHLC Fidelity MSCI Health Care Index ETF	1.43%	1.40%	1.51%	1.40%	1.30%	1.16%	1.45%	1.18%	1.38%	1.38%	1.40%	2.07%

Frequently Asked Questions

Can I hold both FHLC and FHCCX in my portfolio?

FHLC and FHCCX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHLC or FHCCX?

FHCCX has higher volatility (5.07%) compared to FHLC (4.05%). In terms of maximum drawdown, FHLC dropped -28.76% vs FHCCX's -45.28%.

Which has better risk-adjusted returns?

FHLC currently has the higher Sharpe Ratio (1.01 vs -0.22), 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.