Well, 'Hidalgo' has roots in true events, but it's not a strict, 100% accurate retelling. Some aspects have been fictionalized or enhanced to create a compelling film.
It's hard to say for sure. Some parts of the Hidalgo story might be based on real events or people, but it's likely that there's also a fair amount of fictionalization and embellishment.
Hidalgo was a mustang. He and his rider Frank Hopkins participated in a long and arduous horse race. Hidalgo was known for his endurance and tenacity. They overcame many difficulties during the race, including tough terrains and harsh weather conditions. It was a story of the bond between a man and his horse and their fight against all odds.
In a way, it is. The movie is based on the exploits of Frank Hopkins, but it's not a completely accurate account. Some parts are fictionalized to add drama and entertainment value.
The story of Hidalgo is not completely true. It takes some inspiration from real events but incorporates fictional elements for entertainment purposes.