FIQFX vs. FHKCX
FIQFX (Fidelity Advisor China Region Fund Class Z) and FHKCX (Fidelity China Region Fund) are both China Equities funds from Fidelity. Over the past 5 years, FIQFX returned 9.38%/yr vs 9.23%/yr for FHKCX. With a 1.00 correlation, they move nearly in lockstep. FIQFX charges 0.80%/yr vs 0.91%/yr for FHKCX.
Performance
FIQFX vs. FHKCX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FIQFX having a 39.45% return and FHKCX slightly lower at 39.37%.
FIQFX
- 1D
- 0.49%
- 1M
- 4.93%
- YTD
- 39.45%
- 6M
- 40.55%
- 1Y
- 79.97%
- 3Y*
- 34.48%
- 5Y*
- 9.38%
- 10Y*
- —
FHKCX
- 1D
- 0.50%
- 1M
- 4.92%
- YTD
- 39.37%
- 6M
- 40.46%
- 1Y
- 79.75%
- 3Y*
- 34.29%
- 5Y*
- 9.23%
- 10Y*
- 15.70%
FIQFX vs. FHKCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FIQFX Fidelity Advisor China Region Fund Class Z | 39.45% | 42.75% | 23.34% | -0.13% | -23.76% | -13.61% | 48.04% | 35.33% | -1.81% |
FHKCX Fidelity China Region Fund | 39.37% | 42.56% | 23.15% | -0.29% | -23.87% | -13.69% | 47.85% | 35.12% | -2.72% |
Correlation
The correlation between FIQFX 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 (All Time) Calculated using the full available price history since Oct 17, 2018 | 1.00 |
The correlation between FIQFX and FHKCX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
FIQFX vs. FHKCX — Risk / Return Rank
FIQFX
FHKCX
FIQFX vs. FHKCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor China Region Fund Class Z (FIQFX) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FIQFX | FHKCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.60 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 7.56 | 7.52 | +0.04 |
| Martin ratioReturn relative to average drawdown | 22.54 | 22.43 | +0.11 |
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Drawdowns
FIQFX vs. FHKCX - Drawdown Comparison
The maximum FIQFX drawdown since its inception was -58.33%, smaller than the maximum FHKCX drawdown of -61.96%. Use the drawdown chart below to compare losses from any high point for FIQFX and FHKCX.
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Drawdown Indicators
| FIQFX | FHKCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.33% | -61.96% | +3.63% |
Max Drawdown (1Y)Largest decline over 1 year | -10.78% | -10.80% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -21.98% | -22.02% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -52.34% | -52.42% | +0.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -58.41% | — |
Current DrawdownCurrent decline from peak | -0.38% | -0.38% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -22.28% | -20.23% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.61% | 3.61% | 0.00% |
Volatility
FIQFX vs. FHKCX - Volatility Comparison
Fidelity Advisor China Region Fund Class Z (FIQFX) and Fidelity China Region Fund (FHKCX) have volatilities of 10.31% and 10.30%, 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.
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Volatility by Period
| FIQFX | FHKCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 10.30% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 18.67% | 18.67% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.88% | 22.87% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.52% | 24.53% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.23% | 22.48% | +1.75% |
FIQFX vs. FHKCX - Expense Ratio Comparison
FIQFX has a 0.80% expense ratio, which is lower than FHKCX's 0.91% expense ratio.
Dividends
FIQFX vs. FHKCX - Dividend Comparison
FIQFX's dividend yield for the trailing twelve months is around 1.49%, more than FHKCX's 1.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHKCX Fidelity China Region Fund | 1.26% | 1.75% | 1.39% | 1.92% | 1.05% | 10.77% | 4.85% | 0.66% | 0.83% | 0.39% | 1.35% | 15.47% |
FIQFX Fidelity Advisor China Region Fund Class Z | 1.49% | 2.07% | 1.58% | 2.14% | 0.86% | 11.06% | 4.98% | 0.84% | 1.09% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, FIQFX 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.
FIQFX has higher volatility (10.31%) compared to FHKCX (10.30%). In terms of maximum drawdown, FIQFX dropped -58.33% vs FHKCX's -61.96%.
FIQFX currently has the higher Sharpe Ratio (3.57 vs 3.56), 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.
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