Step 1: Highlight the duration on the playlist where you want to create the fade.
Step 2: Right click the volume fader and then click "create automation clip"
Step 3: You will now see this "master volume envelope" in the playlist this is the automation clip that will control the volume and can be used to create a fade in or fade out. Now all you need to do is drag one side of the line of this envelope down to create the fade. In the example below I have dragged the left side down to create a fade in, with the volume gradually increasing. Do this but with the right side to create a fade out. You can experiment with longer and shorter fades also using shorter envelopes.
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