FSLEX vs. SSO
Compare and contrast key facts about Fidelity Environment and Alternative Energy Fund (FSLEX) and ProShares Ultra S&P500 (SSO).
FSLEX is managed by Fidelity. It was launched on Jun 29, 1989. SSO is a passively managed fund by ProShares that tracks the performance of the S&P 500. It was launched on Jun 19, 2006.
Performance
FSLEX vs. SSO - Performance Comparison
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FSLEX vs. SSO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSLEX Fidelity Environment and Alternative Energy Fund | -3.79% | 20.38% | 20.01% | 26.29% | -26.05% | 30.30% | 21.56% | 26.86% | -13.49% | 24.94% |
SSO ProShares Ultra S&P500 | -10.23% | 26.19% | 43.48% | 46.65% | -38.98% | 60.57% | 21.54% | 63.45% | -14.60% | 44.35% |
Returns By Period
In the year-to-date period, FSLEX achieves a -3.79% return, which is significantly higher than SSO's -10.23% return. Over the past 10 years, FSLEX has underperformed SSO with an annualized return of 12.60%, while SSO has yielded a comparatively higher 21.06% annualized return.
FSLEX
- 1D
- -1.41%
- 1M
- -10.23%
- YTD
- -3.79%
- 6M
- -3.23%
- 1Y
- 26.76%
- 3Y*
- 17.00%
- 5Y*
- 9.21%
- 10Y*
- 12.60%
SSO
- 1D
- 5.75%
- 1M
- -10.37%
- YTD
- -10.23%
- 6M
- -7.08%
- 1Y
- 26.35%
- 3Y*
- 28.27%
- 5Y*
- 15.34%
- 10Y*
- 21.06%
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FSLEX vs. SSO - Expense Ratio Comparison
FSLEX has a 0.79% expense ratio, which is lower than SSO's 0.87% expense ratio.
Return for Risk
FSLEX vs. SSO — Risk / Return Rank
FSLEX
SSO
FSLEX vs. SSO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Environment and Alternative Energy Fund (FSLEX) and ProShares Ultra S&P500 (SSO). 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.
| FSLEX | SSO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.22 | 0.73 | +0.49 |
Sortino ratioReturn per unit of downside risk | 1.82 | 1.23 | +0.58 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.19 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.20 | +0.56 |
Martin ratioReturn relative to average drawdown | 7.52 | 5.18 | +2.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSLEX | SSO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 0.73 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.46 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.59 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.38 | -0.06 |
Correlation
The correlation between FSLEX and SSO is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FSLEX vs. SSO - Dividend Comparison
FSLEX's dividend yield for the trailing twelve months is around 0.38%, less than SSO's 0.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSLEX Fidelity Environment and Alternative Energy Fund | 0.38% | 0.37% | 0.41% | 0.39% | 0.69% | 7.74% | 6.41% | 2.17% | 6.39% | 6.19% | 1.29% | 3.01% |
SSO ProShares Ultra S&P500 | 0.82% | 0.68% | 0.85% | 0.18% | 0.50% | 0.18% | 0.20% | 0.50% | 0.75% | 0.39% | 0.51% | 0.63% |
Drawdowns
FSLEX vs. SSO - Drawdown Comparison
The maximum FSLEX drawdown since its inception was -50.21%, smaller than the maximum SSO drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for FSLEX and SSO.
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Drawdown Indicators
| FSLEX | SSO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.21% | -84.67% | +34.46% |
Max Drawdown (1Y)Largest decline over 1 year | -13.76% | -23.17% | +9.41% |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | -46.73% | +14.06% |
Max Drawdown (10Y)Largest decline over 10 years | -39.77% | -59.34% | +19.57% |
Current DrawdownCurrent decline from peak | -11.41% | -13.46% | +2.05% |
Average DrawdownAverage peak-to-trough decline | -13.99% | -19.72% | +5.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 5.38% | -2.16% |
Volatility
FSLEX vs. SSO - Volatility Comparison
The current volatility for Fidelity Environment and Alternative Energy Fund (FSLEX) is 6.22%, while ProShares Ultra S&P500 (SSO) has a volatility of 10.60%. This indicates that FSLEX experiences smaller price fluctuations and is considered to be less risky than SSO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSLEX | SSO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.22% | 10.60% | -4.38% |
Volatility (6M)Calculated over the trailing 6-month period | 12.26% | 18.95% | -6.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.17% | 36.45% | -14.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.57% | 33.66% | -13.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.39% | 35.86% | -14.47% |