so just a question...from my understanding fleece wicks away sweat...so i go to oldnavy to find a cheap fleece hoodie to wear as a base layer...and find that the hoodie is •80% cotton, 20% polyester. w/ a •Soft, warm jersey-fleece...so, what does this mean? is it fleece? will it wick away sweat?!?

I would not use this for winter riding WHY-it has cotton in it and cotton kills the only cotton I ever carry is a bandanna and wear all synthetic clothes so I won't get hypothermia never wear cotton cotton kills
That is my $0.02

Fleece is a midlayer material, usually polyester for outdoor activities.
It isnt wicking so much as non absorbant.
You can wear a fleece as a base-layer (In the UK we have a special cold/damp weather clothing system based around this) but usually you wear fleece as a mid-layer over a wicking base layer.
In winter you shouldnt be sweating so much that your fleece needs to wick sweat.

Cotton fleece is absorbant and does not insulate when wet. Not recomended for outdoor activities.

Cotton kills- literally. Don't leave it at home with your family. If you do, make sure you have a wool watchdog around at least to protect them.

Look for wool, wabi is good, baselayers from -33 (expedition weight is wonderful. Merino is the smartest fabric out there, comfortable, wicks moisture phenomenally well and fights body odor incredibly well. Ibex is also excellent.

You can use a cotton canvas type material for the outer shell in below freezing conditions such as the Carhartt work jackets use. But you should not use anything cotton as a base layer or insulation layer in any kind of exercise situation. The hoodie might be OK as an outer layer for short rides in below freezing conditions but will be really bad in the rain. I would not trust it if you have to ride any more then 2-3 miles. Cotton canvas swells and becomes very water resistant when wet but other cotton weaves do not. They act like a towel and will freeze you when they get wet. Check Shopko, in the past they have had 100% polyester hoodies for cheap. If your not riding far your better off with a cheap windbreaker. You can layer wool and poly stuff underneath it for warmth.

A hoodie might be popular but is not the best inexpensive solution for winter bike riding. Better to spend 30 bucks on a heavyweight wicking polypropylene base layer. Then use an old or thrift store polyester fleece jacket and a cheap thrift store wind breaker on the outer layer. Depending on how cold it is you can use just the base layer and wind breaker or all three if it is really cold. IF you ride hard and fast use a light thin base layer since you will generate more heat.