MCDFX vs. FHKAX

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews China Dividend Fund (MCDFX) and Fidelity Advisor China Region Fund Class A (FHKAX).

MCDFX is managed by Matthews. It was launched on Nov 29, 2009. FHKAX is managed by Fidelity. It was launched on May 9, 2008.

Performance

MCDFX vs. FHKAX - Performance Comparison

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

MCDFX vs. FHKAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCDFX Matthews China Dividend Fund	5.60%	29.41%	14.93%	-20.68%	-16.72%	-0.60%	26.88%	15.03%	-9.93%	37.52%
FHKAX Fidelity Advisor China Region Fund Class A	5.42%	42.19%	22.84%	-0.60%	-24.09%	-13.95%	47.37%	34.71%	-17.67%	51.46%

Returns By Period

MCDFX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FHKAX

• 1D: -0.67%
• 1M: -9.06%
• YTD: 5.42%
• 6M: 6.13%
• 1Y: 43.43%
• 3Y*: 19.54%
• 5Y*: 2.51%
• 10Y*: 11.83%

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

MCDFX vs. FHKAX - Expense Ratio Comparison

MCDFX has a 1.20% expense ratio, which is lower than FHKAX's 1.21% expense ratio.

FHKAX

Fidelity Advisor China Region Fund Class A

MCDFX

Matthews China Dividend Fund

Return for Risk

MCDFX vs. FHKAX — Risk / Return Rank

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

FHKAX

FHKAX Risk / Return Rank: 88
FHKAX Sharpe Ratio Rank: 90
FHKAX Sortino Ratio Rank: 88
FHKAX Omega Ratio Rank: 85
FHKAX Calmar Ratio Rank: 90
FHKAX Martin Ratio Rank: 88

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.

MCDFX vs. FHKAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews China Dividend Fund (MCDFX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MCDFX	FHKAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.85	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.31	—

Correlation

The correlation between MCDFX and FHKAX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MCDFX vs. FHKAX - Dividend Comparison

MCDFX's dividend yield for the trailing twelve months is around 3.84%, more than FHKAX's 1.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCDFX Matthews China Dividend Fund	3.84%	4.05%	3.97%	4.08%	5.56%	10.35%	3.91%	1.60%	11.25%	9.52%	3.38%	6.42%
FHKAX Fidelity Advisor China Region Fund Class A	1.51%	1.59%	1.22%	1.58%	0.59%	10.80%	4.71%	0.38%	0.39%	0.21%	0.99%	15.33%

Drawdowns

Drawdown Indicators

	MCDFX	FHKAX	Difference
Max Drawdown Largest peak-to-trough decline	—	-58.62%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-15.97%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-54.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-58.62%	—
Current Drawdown Current decline from peak	—	-10.83%	—
Average Drawdown Average peak-to-trough decline	—	-19.15%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.12%	—

Volatility

Volatility by Period

	MCDFX	FHKAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.44%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	23.16%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	23.95%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	22.09%	—