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 23.03%/yr vs 14.12%/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 16.90% return, which is significantly higher than FSCO's -19.08% return.
FSLEX
- 1D
- 0.91%
- 1M
- 3.06%
- YTD
- 16.90%
- 6M
- 14.49%
- 1Y
- 32.52%
- 3Y*
- 23.03%
- 5Y*
- 12.94%
- 10Y*
- 14.99%
FSCO
- 1D
- -0.45%
- 1M
- -4.78%
- YTD
- -19.08%
- 6M
- -15.88%
- 1Y
- -24.75%
- 3Y*
- 14.12%
- 5Y*
- —
- 10Y*
- —
FSLEX vs. FSCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FSLEX Fidelity Environment and Alternative Energy Fund | 16.90% | 20.38% | 20.01% | 26.29% | -5.33% |
FSCO FS Credit Opportunities Corp. | -19.08% | 3.68% | 34.88% | 36.98% | -3.98% |
Correlation
The correlation between FSLEX and FSCO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
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 | +2.96 | ||
| Sortino ratioReturn per unit of downside risk | +3.86 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.84 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | -0.70 | +3.79 |
| Martin ratioReturn relative to average drawdown | 12.11 | -1.37 | +13.48 |
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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 | -0.38% | -29.35% | +28.97% |
Average DrawdownAverage peak-to-trough decline | -13.91% | -8.15% | -5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 18.12% | -15.21% |
Volatility
FSLEX vs. FSCO - Volatility Comparison
Fidelity Environment and Alternative Energy Fund (FSLEX) has a higher volatility of 6.86% compared to FS Credit Opportunities Corp. (FSCO) at 6.29%. 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 | 6.86% | 6.29% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 13.70% | 22.62% | -8.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.20% | 27.45% | -10.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.80% | 28.17% | -7.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.54% | 28.17% | -6.63% |
Dividends
FSLEX vs. FSCO - Dividend Comparison
FSLEX's dividend yield for the trailing twelve months is around 1.55%, less than FSCO's 16.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSCO FS Credit Opportunities Corp. | 16.29% | 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 | 1.55% | 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 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSLEX has higher volatility (6.86%) compared to FSCO (6.29%). In terms of maximum drawdown, FSLEX dropped -50.21% vs FSCO's -35.53%.
FSLEX currently has the higher Sharpe Ratio (2.06 vs -0.90), 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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