Not only does it retrieve your items if you die (everything - IF it can handle the weight!) but it can fetch bags for you!! On Xbox, double tap Y with the bag in your line of sight and Fjordhawk will retrieve it for you. It will highlight bags with a little icon of a skull and crossbones in a black circle that pulses. Hope that helps. Thanks !!
It can retrieve your stuff when you die, and show icons on top of creatures, such as how much health it has left, or if it is dead.
They also make obtaining wyvern eggs extremely easier thanks to Syntac (ARK Youtuber), he does it by having a fjordhawk on your shoulder, go to a wyvern trench and find an egg, quickly grab the wyvern egg, and eat organic polymer.
Soon the fjordhawk will retrieve your stuff, they also have unlimited weight.