IPAC vs. FCHKX

Last updated Jun 4, 2026

IPAC (iShares Core MSCI Pacific ETF) and FCHKX (Fidelity Advisor China Region Fund Class C) are both funds - IPAC is a Asia Pacific Equities fund tracking the MSCI Pacific Investable Market Index, while FCHKX is a China Equities fund managed by Fidelity. Over the past 10 years, IPAC returned 9.13%/yr vs 14.23%/yr for FCHKX. A 0.62 correlation means they provide meaningful diversification when combined. IPAC charges 0.09%/yr vs 1.96%/yr for FCHKX.

Performance

IPAC vs. FCHKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Pacific ETF (IPAC) and Fidelity Advisor China Region Fund Class C (FCHKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPAC achieves a 13.73% return, which is significantly lower than FCHKX's 39.30% return. Over the past 10 years, IPAC has underperformed FCHKX with an annualized return of 9.13%, while FCHKX has yielded a comparatively higher 14.23% annualized return.

IPAC

• 1D: -0.11%
• 1M: 4.62%
• YTD: 13.73%
• 6M: 15.39%
• 1Y: 28.03%
• 3Y*: 17.03%
• 5Y*: 7.65%
• 10Y*: 9.13%

FCHKX

• 1D: 2.60%
• 1M: 7.10%
• YTD: 39.30%
• 6M: 42.37%
• 1Y: 84.77%
• 3Y*: 32.76%
• 5Y*: 7.98%
• 10Y*: 14.23%

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

IPAC vs. FCHKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPAC iShares Core MSCI Pacific ETF	13.73%	25.16%	6.18%	14.51%	-13.68%	3.09%	12.39%	19.44%	-12.78%	25.97%
FCHKX Fidelity Advisor China Region Fund Class C	39.30%	41.13%	21.90%	-1.27%	-24.66%	-14.60%	46.29%	33.74%	-18.29%	50.37%

Correlation

The correlation between IPAC and FCHKX is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.62

The correlation between IPAC and FCHKX has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.

IPAC vs. FCHKX - Sectors Allocation Comparison

Sectors	IPAC	FCHKX
Financial Services	22.9%	10.6%
Industrials	21.3%	7.0%
Technology	12.9%	50.8%
Consumer Cyclical	10.8%	11.3%
Basic Materials	8.2%	5.5%
Communication Services	5.7%	9.0%
Real Estate	5.5%	0.5%
Healthcare	5.3%	4.1%
Consumer Defensive	4.0%	1.2%
Utilities	1.9%	-
Energy	1.8%	-

Return for Risk

IPAC vs. FCHKX — Risk / Return Rank

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

IPAC

IPAC Risk / Return Rank: 50
IPAC Sharpe Ratio Rank: 49
IPAC Sortino Ratio Rank: 50
IPAC Omega Ratio Rank: 50
IPAC Calmar Ratio Rank: 49
IPAC Martin Ratio Rank: 52

FCHKX

FCHKX Risk / Return Rank: 95
FCHKX Sharpe Ratio Rank: 98
FCHKX Sortino Ratio Rank: 93
FCHKX Omega Ratio Rank: 92
FCHKX Calmar Ratio Rank: 98
FCHKX 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.

IPAC vs. FCHKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Pacific ETF (IPAC) and Fidelity Advisor China Region Fund Class C (FCHKX). 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.

	IPAC	FCHKX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	4.05	-2.33
Sortino ratio: Return per unit of downside risk	2.45	4.77	-2.31
Omega ratio: Gain probability vs. loss probability	1.32	1.68	-0.36
Calmar ratio: Return relative to maximum drawdown	2.45	7.91	-5.46
Martin ratio: Return relative to average drawdown	8.83	24.44	-15.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPAC vs. FCHKX - Sharpe Ratio Comparison

The current IPAC Sharpe Ratio is 1.72, which is lower than the FCHKX Sharpe Ratio of 4.05. The chart below compares the historical Sharpe Ratios of IPAC and FCHKX, 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

	IPAC	FCHKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	4.05	-2.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.33	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.64	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.25	+0.20

Drawdowns

IPAC vs. FCHKX - Drawdown Comparison

The maximum IPAC drawdown since its inception was -30.99%, smaller than the maximum FCHKX drawdown of -59.14%. Use the drawdown chart below to compare losses from any high point for IPAC and FCHKX.

Drawdown Indicators

	IPAC	FCHKX	Difference
Max Drawdown Largest peak-to-trough decline	-30.99%	-59.14%	+28.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-10.88%	-0.61%
Max Drawdown (3Y) Largest decline over 3 years	-15.45%	-22.42%	+6.97%
Max Drawdown (5Y) Largest decline over 5 years	-29.64%	-53.07%	+23.43%
Max Drawdown (10Y) Largest decline over 10 years	-30.99%	-59.14%	+28.15%
Current Drawdown Current decline from peak	-0.56%	0.00%	-0.56%
Average Drawdown Average peak-to-trough decline	-7.48%	-21.33%	+13.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	3.52%	-0.34%

Volatility

IPAC vs. FCHKX - Volatility Comparison

The current volatility for iShares Core MSCI Pacific ETF (IPAC) is 4.00%, while Fidelity Advisor China Region Fund Class C (FCHKX) has a volatility of 7.43%. This indicates that IPAC experiences smaller price fluctuations and is considered to be less risky than FCHKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPAC	FCHKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	7.43%	-3.43%
Volatility (6M) Calculated over the trailing 6-month period	13.09%	16.64%	-3.55%
Volatility (1Y) Calculated over the trailing 1-year period	16.41%	21.26%	-4.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.62%	24.23%	-7.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.58%	22.32%	-5.74%

IPAC vs. FCHKX - Expense Ratio Comparison

IPAC has a 0.09% expense ratio, which is lower than FCHKX's 1.96% expense ratio.

Dividends

IPAC vs. FCHKX - Dividend Comparison

IPAC's dividend yield for the trailing twelve months is around 3.80%, more than FCHKX's 0.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCHKX Fidelity Advisor China Region Fund Class C	0.63%	0.88%	0.63%	0.63%	0.00%	11.31%	4.38%	0.00%	0.00%	0.00%	0.08%	0.00%
IPAC iShares Core MSCI Pacific ETF	3.80%	4.32%	3.43%	3.16%	2.76%	4.03%	1.68%	3.37%	2.95%	2.98%	2.66%	2.60%

Frequently Asked Questions

Can I hold both IPAC and FCHKX in my portfolio?

IPAC and FCHKX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPAC or FCHKX?

FCHKX has higher volatility (7.43%) compared to IPAC (4.00%). In terms of maximum drawdown, IPAC dropped -30.99% vs FCHKX's -59.14%.

Which has better risk-adjusted returns?

FCHKX currently has the higher Sharpe Ratio (4.05 vs 1.72), 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.