FSCO vs. FSLEX

Last updated Aug 4, 2026

FSCO (FS Credit Opportunities Corp.) is a stock, while FSLEX (Fidelity Environment and Alternative Energy Fund) is Alternative Energy Equities fund managed by Fidelity. Over the past 3 years, FSCO returned 11.67%/yr vs 18.23%/yr for FSLEX. Their 0.27 correlation means their historical movements had little consistent relationship.

Performance

FSCO vs. FSLEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FS Credit Opportunities Corp. (FSCO) and Fidelity Environment and Alternative Energy Fund (FSLEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSCO achieves a -14.16% return, which is significantly lower than FSLEX's 9.99% return.

FSCO

• 1D: 0.81%
• 1M: 2.01%
• 6M: -10.36%
• YTD: -14.16%
• 1Y: -23.65%
• 3Y*: 11.67%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.07%

FSLEX

• 1D: 0.73%
• 1M: -3.39%
• 6M: 5.83%
• YTD: 9.99%
• 1Y: 20.68%
• 3Y*: 18.23%
• 5Y*: 10.43%
• 10Y*: 13.59%
• ALL TIME*: 6.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FSCO FS Credit Opportunities Corp.	$4.26M	$4.44M	$5.06M
FSLEX Fidelity Environment and Alternative Energy Fund	$0.00	$0.00	$0.00

FSCO vs. FSLEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FSCO FS Credit Opportunities Corp.	-14.16%	3.68%	34.88%	36.98%	-3.98%
FSLEX Fidelity Environment and Alternative Energy Fund	9.99%	20.38%	20.01%	26.29%	-5.33%

Correlation

The correlation between FSCO and FSLEX is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.26
Correlation (3Y) Balances recent behavior with more history.	0.24
Correlation (All Time) Calculated using the full available price history since Nov 14, 2022	0.27

Return for Risk

FSCO vs. FSLEX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FSCO

FSCO Risk / Return Rank: 13
FSCO Sharpe Ratio Rank: 7
FSCO Sortino Ratio Rank: 11
FSCO Omega Ratio Rank: 10
FSCO Calmar Ratio Rank: 18
FSCO Martin Ratio Rank: 16

FSLEX

FSLEX Risk / Return Rank: 31
FSLEX Sharpe Ratio Rank: 29
FSLEX Sortino Ratio Rank: 27
FSLEX Omega Ratio Rank: 27
FSLEX Calmar Ratio Rank: 37
FSLEX Martin Ratio Rank: 37

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSCO vs. FSLEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FS Credit Opportunities Corp. (FSCO) and Fidelity Environment and Alternative Energy Fund (FSLEX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FSCO	FSLEX	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	1.04	-1.90
Sortino ratio: Return per unit of downside risk	-1.08	1.49	-2.57
Omega ratio: Gain probability vs. loss probability	0.86	1.18	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.67	1.68	-2.35
Martin ratio: Return relative to average drawdown	-1.17	5.80	-6.97

FSCO vs. FSLEX - Sharpe Ratio Comparison

The current FSCO Sharpe Ratio is -0.86, which is lower than the FSLEX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of FSCO and FSLEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FSCO vs. FSLEX - Drawdown Comparison

The maximum FSCO drawdown since its inception was -35.53%, smaller than the maximum FSLEX drawdown of -50.21%. Use the drawdown chart below to compare losses from any high point for FSCO and FSLEX.

Drawdown Indicators

	FSCO	FSLEX	Difference
Max Drawdown Largest peak-to-trough decline	-35.53%	-50.21%	+14.68%
Max Drawdown (1Y) Largest decline over 1 year	-35.53%	-11.41%	-24.12%
Max Drawdown (3Y) Largest decline over 3 years	-35.53%	-24.04%	-11.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.77%	—
Current Drawdown Current decline from peak	-25.05%	-6.27%	-18.78%
Average Drawdown Average peak-to-trough decline	-8.72%	-13.88%	+5.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.25%	3.30%	+16.95%

Volatility

FSCO vs. FSLEX - Volatility Comparison

The current volatility for FS Credit Opportunities Corp. (FSCO) is 3.65%, while Fidelity Environment and Alternative Energy Fund (FSLEX) has a volatility of 6.59%. This indicates that FSCO experiences smaller price fluctuations and is considered to be less risky than FSLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSCO	FSLEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	6.59%	-2.94%
Volatility (6M) Calculated over the trailing 6-month period	22.49%	15.25%	+7.24%
Volatility (1Y) Calculated over the trailing 1-year period	27.65%	18.51%	+9.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.85%	21.02%	+6.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.85%	21.52%	+6.33%

Dividends

FSCO vs. FSLEX - Dividend Comparison

FSCO's dividend yield for the trailing twelve months is around 15.35%, more than FSLEX's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSCO FS Credit Opportunities Corp.	15.35%	12.65%	10.47%	11.26%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FSLEX Fidelity Environment and Alternative Energy Fund	1.65%	0.37%	0.41%	0.39%	0.69%	7.74%	6.41%	2.17%	6.39%	6.19%	1.29%	3.01%

Frequently Asked Questions

Can I hold both FSCO and FSLEX in my portfolio?

FSCO and FSLEX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSCO or FSLEX?

FSLEX has higher volatility (6.59%) compared to FSCO (3.65%). In terms of maximum drawdown, FSCO dropped -35.53% vs FSLEX's -50.21%.

Which has better risk-adjusted returns?

FSLEX currently has the higher Sharpe Ratio (1.04 vs -0.86), 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.