About the Fund
The Accelerate Enhanced Canadian Benchmark Alternative Fund (TSX: ATSX) combines exposure to the S&P/TSX 60 plus a long-short Canadian equity overlay designed to add incremental performance above the broad Canadian equity index.
Investment Objectives
- Outperform the broad Canadian equity index
- Provide volatility in-line with the broad Canadian equity index
ATSX TRADING DATA
NAV:
Date:
QUICK FACTS
Type:
Alpha + beta
Structure:
Alternative ETF
Date Started:
May 10, 2019
Management Fee:
0.00%
Performance Fee:
1/2 of outperformance above S&P/ TSX 60 Total Return
Investment Manager:
Accelerate Financial Technologies Inc.
Distribution:
$0.42 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Track Record
Investment Process
In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.
Performance as of 2022-Nov-30
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | 3.1% | 5.0% | 0.9% | 8.2% | 8.1% | 8.8% |
Overlay Fund Characteristics as of 2022-Nov-30
| Long | Short | |
|---|---|---|
| Number of Securities | 46 | 46 |
| Average Market Cap ($mm) | $16,202 | $10,036 |
| Beta | 1.1 | 1.2 |
| EBITDA/EV | 20.4% | 6.4% |
| FCF/EV | 11.6% | -3.1% |
| Trailing Return | 4.5% | -37.4% |
| Pct of 52 Week High | 85.0% | 63.6% |
| Return on Capital | 24.0% | 2.3% |
| Gross Profits/Assets | 8.0% | 2.5% |
| 50 DMA to 200 DMA | 100% | 84.6% |
| EPS Revision | -6.3% | -6.7% |
| Change In Shares | -3.9% | 1.3% |
| Earnings Abnormal Return | 0.4% | 1.4% |
Sector Weightings as of 2022-Nov-30
| Long | Short | |
|---|---|---|
| Communication Services | 1.1% | -1.0% |
| Consumer Discretionary | 9.8% | -2.2% |
| Consumer Staples | 6.3% | -2.1% |
| Energy | 9.5% | -3.1% |
| Financials | 3.2% | -3.2% |
| Health Care | 0.0% | -1.0% |
| Industrials | 6.5% | -8.3% |
| Information Technology | 2.2% | -7.6% |
| Materials | 11.3% | -10.5% |
| Real Estate | 0.0% | -7.2% |
| Utilities | 0.0% | -1.7% |
| Overlay Equity Exposure | 49.9% | -47.9% |
| S&P/TSX60 Index Exposure | 101.4% | 0.0% |
| TOTAL PORTFOLIO EXPOSURE | 151.3% | -47.9% |
Fund Holdings as of 2022-Nov-30
| Long Security Name | Weight | |
|---|---|---|
| S&P / TSX 60 Index Futures | 98.6% | |
| IShares S&P TSX 60 Index ETF | 2.8% | |
| Torex Gold Resources Inc | 1.2% | |
| Lundin Gold Inc | 1.2% | |
| Stella-Jones Inc | 1.2% | |
| Linamar Corp | 1.2% | |
| Canfor Corp | 1.2% | |
| Interfor Corp | 1.2% | |
| TFI International Inc | 1.1% | |
| West Fraser Timber Co Ltd | 1.1% | |
| Finning International Inc | 1.1% | |
| Mullen Group Ltd | 1.1% | |
| Aritzia Inc | 1.1% | |
| Sleep Country Canada Holdings | 1.1% | |
| Celestica Inc | 1.1% | |
| Quebecor Inc | 1.1% | |
| Birchcliff Energy Ltd | 1.1% | |
| Metro Inc/CN | 1.1% | |
| Gildan Activewear Inc | 1.1% | |
| CGI Inc | 1.1% | |
| Canadian National Railway Co | 1.1% | |
| Alimentation Couche-Tard Inc | 1.1% | |
| Element Fleet Management Corp | 1.1% | |
| Spin Master Corp | 1.1% | |
| Parex Resources Inc | 1.1% | |
| Uni-Select Inc | 1.1% | |
| Suncor Energy Inc | 1.1% | |
| Teck Resources Ltd | 1.1% | |
| Canadian Natural Resources Ltd | 1.1% | |
| Intact Financial Corp | 1.1% | |
| North West Co Inc/The | 1.1% | |
| Nutrien Ltd | 1.1% | |
| Enerplus Corp | 1.1% | |
| Canadian Tire Corp Ltd | 1.1% | |
| Stelco Holdings Inc | 1.1% | |
| George Weston Ltd | 1.1% | |
| Dollarama Inc | 1.0% | |
| Restaurant Brands Internationational Inc | 1.0% | |
| ARC Resources Ltd | 1.0% | |
| Toromont Industries Ltd | 1.0% | |
| Baytex Energy Corp | 1.0% | |
| CCL Industries Inc | 1.0% | |
| NuVista Energy Ltd | 1.0% | |
| iA Financial Corp Inc | 1.0% | |
| Empire Co Ltd | 1.0% | |
| Russel Metals Inc | 1.0% | |
| International Petroleum Corp | 1.0% | |
| Loblaw Cos Ltd | 1.0% |
| Short Security Name | Weight | |
|---|---|---|
| CAE Inc | -1.2% | |
| Ballard Power Systems Inc | -1.2% | |
| Shopify Inc | -1.1% | |
| Docebo Inc | -1.1% | |
| Park Lawn Corp | -1.1% | |
| Ceridian HCM Holding Inc | -1.1% | |
| Osisko Mining Inc | -1.1% | |
| Lightspeed Commerce Inc | -1.1% | |
| Ensign Energy Services Inc | -1.1% | |
| Fortuna Silver Mines Inc | -1.1% | |
| Canadian Western Bank | -1.1% | |
| SilverCrest Metals Inc | -1.1% | |
| DREAM Unlimited Corp | -1.1% | |
| Canada Goose Holdings Inc | -1.1% | |
| Brookfield Asset Management Inc | -1.1% | |
| Equinox Gold Corp | -1.1% | |
| Altus Group Ltd/Canada | -1.1% | |
| Canaccord Genuity Group Inc | -1.1% | |
| Maple Leaf Foods Inc | -1.1% | |
| Nuvei Corp | -1.0% | |
| Novagold Resources Inc | -1.0% | |
| Eldorado Gold Corp | -1.0% | |
| InterRent Real Estate Investment Trust | -1.0% | |
| TC Energy Corp | -1.0% | |
| Aimia Inc | -1.0% | |
| Open Text Corp | -1.0% | |
| Osisko Gold Royalties Ltd | -1.0% | |
| Innergex Renewable Energy Inc | -1.0% | |
| Aecon Group Inc | -1.0% | |
| SNC-Lavalin Group Inc | -1.0% | |
| Enghouse Systems Ltd | -1.0% | |
| Maxar Technologies Inc | -1.0% | |
| Canadian Apartment Properties | -1.0% | |
| MAG Silver Corp | -1.0% | |
| Premium Brands Holdings Corp | -1.0% | |
| Chartwell Retirement Residence | -1.0% | |
| Killam Apartment Real Estate Investment Trust | -1.0% | |
| Hardwoods Distribution Inc | -1.0% | |
| Seabridge Gold Inc | -1.0% | |
| Pan American Silver Corp | -1.0% | |
| Keyera Corp | -1.0% | |
| NorthWest Healthcare Properties | -1.0% | |
| Allied Properties Real Estate Investment Trust | -1.0% | |
| Canadian Pacific Railway Ltd | -1.0% | |
| WSP Global Inc | -0.9% | |
| Algonquin Power & Utilities Co | -0.7% | |
EXPLORE OTHER INVESTMENT SOLUTIONS
DISCLAIMER: This information on this web page does not constitute investment, legal or tax advice. Past performance is not indicative of future results. Any data provided on this web page should not be viewed as a recommendation or solicitation of an offer to buy or sell any securities or investment strategies. The information on this web page is based on market conditions and may fluctuate and change without notice. Accelerate does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this website and any liability is expressly disclaimed.
