You can use the Fade Effect button to fade a title. A dialog box opens that allows you to enter the number of frames to fade up and fade down without opening the Effect Editor.

Rather than adding Dissolve effects that require rendering, you can use the Fade Effect button to quickly create keyframes in the title with the proper level settings for playback in real time. You can change the keyframes in the Effect Editor. For more information, see Using the Fade Effect Button.