RIO vs. FHKCX

Last updated Jun 9, 2026

RIO (Rio Tinto Group) is a stock, while FHKCX (Fidelity China Region Fund) is China Equities fund managed by Fidelity. Over the past 10 years, RIO returned 21.75%/yr vs 14.35%/yr for FHKCX. At a 0.43 correlation, their price movements are largely independent.

Performance

RIO vs. FHKCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rio Tinto Group (RIO) and Fidelity China Region Fund (FHKCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with RIO at 29.64% and FHKCX at 29.64%. Over the past 10 years, RIO has outperformed FHKCX with an annualized return of 21.75%, while FHKCX has yielded a comparatively lower 14.35% annualized return.

RIO

• 1D: 0.24%
• 1M: -4.22%
• YTD: 29.64%
• 6M: 42.09%
• 1Y: 80.02%
• 3Y*: 23.43%
• 5Y*: 10.94%
• 10Y*: 21.75%

FHKCX

• 1D: -5.93%
• 1M: -3.92%
• YTD: 29.64%
• 6M: 30.43%
• 1Y: 68.65%
• 3Y*: 30.45%
• 5Y*: 7.32%
• 10Y*: 14.35%

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

RIO vs. FHKCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RIO Rio Tinto Group	29.64%	44.47%	-15.36%	11.06%	18.48%	-3.67%	36.22%	33.18%	-2.93%	44.87%
FHKCX Fidelity China Region Fund	29.64%	42.56%	23.15%	-0.29%	-23.87%	-13.69%	47.85%	35.12%	-17.43%	51.94%

Correlation

The correlation between RIO and FHKCX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996	0.43

The correlation between RIO and FHKCX shifts across timeframes, from 0.43 (all time) to 0.56 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

RIO vs. FHKCX — Risk / Return Rank

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

RIO

RIO Risk / Return Rank: 93
RIO Sharpe Ratio Rank: 94
RIO Sortino Ratio Rank: 92
RIO Omega Ratio Rank: 91
RIO Calmar Ratio Rank: 93
RIO Martin Ratio Rank: 96

FHKCX

FHKCX Risk / Return Rank: 89
FHKCX Sharpe Ratio Rank: 94
FHKCX Sortino Ratio Rank: 81
FHKCX Omega Ratio Rank: 83
FHKCX Calmar Ratio Rank: 96
FHKCX Martin Ratio Rank: 93

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.

RIO vs. FHKCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rio Tinto Group (RIO) 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.

	RIO	FHKCX	Difference
Sharpe ratio: Return per unit of total volatility	2.79	3.13	-0.34
Sortino ratio: Return per unit of downside risk	3.32	3.73	-0.40
Omega ratio: Gain probability vs. loss probability	1.43	1.54	-0.11
Calmar ratio: Return relative to maximum drawdown	5.30	6.41	-1.11
Martin ratio: Return relative to average drawdown	20.21	19.68	+0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RIO vs. FHKCX - Sharpe Ratio Comparison

The current RIO Sharpe Ratio is 2.79, which is comparable to the FHKCX Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of RIO and FHKCX, 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

	RIO	FHKCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.79	3.13	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.30	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.64	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.43	-0.10

Drawdowns

RIO vs. FHKCX - Drawdown Comparison

The maximum RIO drawdown since its inception was -88.97%, which is greater than FHKCX's maximum drawdown of -61.96%. Use the drawdown chart below to compare losses from any high point for RIO and FHKCX.

Drawdown Indicators

	RIO	FHKCX	Difference
Max Drawdown Largest peak-to-trough decline	-88.97%	-61.96%	-27.01%
Max Drawdown (1Y) Largest decline over 1 year	-15.19%	-10.80%	-4.39%
Max Drawdown (3Y) Largest decline over 3 years	-24.19%	-22.02%	-2.17%
Max Drawdown (5Y) Largest decline over 5 years	-35.25%	-52.42%	+17.17%
Max Drawdown (10Y) Largest decline over 10 years	-37.47%	-58.41%	+20.94%
Current Drawdown Current decline from peak	-9.92%	-7.33%	-2.59%
Average Drawdown Average peak-to-trough decline	-23.77%	-20.26%	-3.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.97%	3.51%	+0.46%

Volatility

RIO vs. FHKCX - Volatility Comparison

Rio Tinto Group (RIO) has a higher volatility of 11.37% compared to Fidelity China Region Fund (FHKCX) at 9.34%. This indicates that RIO's price experiences larger fluctuations and is considered to be riskier than FHKCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RIO	FHKCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.37%	9.34%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	23.90%	17.87%	+6.03%
Volatility (1Y) Calculated over the trailing 1-year period	28.93%	22.12%	+6.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.23%	24.38%	+4.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.63%	22.40%	+8.23%

Dividends

RIO vs. FHKCX - Dividend Comparison

RIO's dividend yield for the trailing twelve months is around 3.98%, more than FHKCX's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHKCX Fidelity China Region Fund	1.35%	1.75%	1.39%	1.92%	1.05%	10.77%	4.85%	0.66%	0.83%	0.39%	1.35%	15.47%
RIO Rio Tinto Group	3.98%	4.66%	7.40%	5.40%	10.48%	10.23%	5.13%	7.68%	6.32%	4.47%	3.93%	7.58%

Frequently Asked Questions

Can I hold both RIO and FHKCX in my portfolio?

RIO and FHKCX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RIO or FHKCX?

RIO has higher volatility (11.37%) compared to FHKCX (9.34%). In terms of maximum drawdown, RIO dropped -88.97% vs FHKCX's -61.96%.

Which has better risk-adjusted returns?

FHKCX currently has the higher Sharpe Ratio (3.13 vs 2.79), 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.