FSLEX vs. FSCO
FSLEX (Fidelity Environment and Alternative Energy Fund) is Alternative Energy Equities fund managed by Fidelity, while FSCO (FS Credit Opportunities Corp.) is a stock. Over the past 3 years, FSLEX returned 21.01%/yr vs 10.95%/yr for FSCO. At a 0.27 correlation, their price movements are largely independent.
Performance
FSLEX vs. FSCO - Performance Comparison
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Returns By Period
In the year-to-date period, FSLEX achieves a 15.20% return, which is significantly higher than FSCO's -17.89% return.
FSLEX
- 1D
- 0.45%
- 1M
- 0.67%
- 6M
- 12.35%
- YTD
- 15.20%
- 1Y
- 26.16%
- 3Y*
- 21.01%
- 5Y*
- 12.04%
- 10Y*
- 14.22%
FSCO
- 1D
- -1.02%
- 1M
- 1.64%
- 6M
- -18.92%
- YTD
- -17.89%
- 1Y
- -23.96%
- 3Y*
- 10.95%
- 5Y*
- —
- 10Y*
- —
FSLEX vs. FSCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FSLEX Fidelity Environment and Alternative Energy Fund | 15.20% | 20.38% | 20.01% | 26.29% | -5.33% |
FSCO FS Credit Opportunities Corp. | -17.89% | 3.68% | 34.88% | 36.98% | -3.98% |
Correlation
The correlation between FSLEX and FSCO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2022 | 0.27 |
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Return for Risk
FSLEX vs. FSCO — Risk / Return Rank
FSLEX
FSCO
FSLEX vs. FSCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Environment and Alternative Energy Fund (FSLEX) and FS Credit Opportunities Corp. (FSCO). 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.
| FSLEX | FSCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.35 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.85 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | -0.68 | +2.98 |
| Martin ratioReturn relative to average drawdown | 8.84 | -1.25 | +10.09 |
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Drawdowns
FSLEX vs. FSCO - Drawdown Comparison
The maximum FSLEX drawdown since its inception was -50.21%, which is greater than FSCO's maximum drawdown of -35.53%. Use the drawdown chart below to compare losses from any high point for FSLEX and FSCO.
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Drawdown Indicators
| FSLEX | FSCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.21% | -35.53% | -14.68% |
Max Drawdown (1Y)Largest decline over 1 year | -11.41% | -35.53% | +24.12% |
Max Drawdown (3Y)Largest decline over 3 years | -24.04% | -35.53% | +11.49% |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.77% | — | — |
Current DrawdownCurrent decline from peak | -1.83% | -28.31% | +26.48% |
Average DrawdownAverage peak-to-trough decline | -13.89% | -8.43% | -5.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 19.17% | -16.21% |
Volatility
FSLEX vs. FSCO - Volatility Comparison
Fidelity Environment and Alternative Energy Fund (FSLEX) has a higher volatility of 7.73% compared to FS Credit Opportunities Corp. (FSCO) at 5.20%. This indicates that FSLEX's price experiences larger fluctuations and is considered to be riskier than FSCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSLEX | FSCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 5.20% | +2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 14.59% | 22.60% | -8.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.81% | 27.62% | -9.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.92% | 28.03% | -7.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.46% | 28.03% | -6.57% |
Dividends
FSLEX vs. FSCO - Dividend Comparison
FSLEX's dividend yield for the trailing twelve months is around 1.57%, less than FSCO's 16.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSCO FS Credit Opportunities Corp. | 16.06% | 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 | 1.57% | 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
FSLEX and FSCO 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.
FSLEX has higher volatility (7.73%) compared to FSCO (5.20%). In terms of maximum drawdown, FSLEX dropped -50.21% vs FSCO's -35.53%.
FSLEX currently has the higher Sharpe Ratio (1.47 vs -0.87), 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.
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