Accelerate Enhanced Canadian Benchmark Alternative Fund

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
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

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.

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:
  1. Value
  2. Quality
  3. Price Momentum
  4. Operating Momentum
  5. 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 2021-Nov-30

1 Month3 MonthsYTD1 Year3 YearsSince Inception
ATSX-1.3%3.1%19.5%19.8%n/a9.2%

Overlay Fund Characteristics as of 2021-Nov-30

Long Short
Number of Securities4244
Average Market Cap ($mm)$6,866$6,208
Beta1.3 1.1
EBITDA/EV24.0%4.2%
FCF/EV13.6%-1.1%
Trailing Return86.6%3.7%
Pct of 52 Week High85.4%74.9%
Return on Capital21.6%1.3%
Gross Profits/Assets8.5%2.2%
50 DMA to 200 DMA113%97.5%
EPS Revision5.6%-7.4%
Change In Shares-0.6%7.4%
Earnings Abnormal Return2.9%0.3%

Sector Weightings as of 2021-Nov-30

Long Short
Communication Services1.1%-1.0%
Consumer Discretionary8.3%-4.2%
Consumer Staples4.6%-2.0%
Energy9.9%-3.0%
Financials3.3%-0.9%
Health Care1.0%-2.0%
Industrials8.8%-8.7%
Information Technology2.2%-4.0%
Materials8.4%-9.4%
Real Estate0.0%-2.1%
Utilities0.0%-7.3%
Overlay Equity Exposure47.6%-44.5%
S&P/TSX60 Index Exposure99.6%0.0%
TOTAL PORTFOLIO EXPOSURE147.2%-44.5%

Fund Holdings as of 2021-Nov-30

Long Security NameWeight
S&P / TSX 60 Index Futures93.9%
IShares S&P TSX 60 Index ETF5.6%
Uni-Select Inc1.6%
Resolute Forest Products Inc1.3%
Interfor Corp1.3%
Canfor Corp1.2%
Loblaw Cos Ltd1.2%
West Fraser Timber Co Ltd1.2%
Canadian Natural Resources Ltd1.2%
Aritzia Inc1.2%
Champion Iron Ltd1.2%
Gildan Activewear Inc1.2%
George Weston Ltd1.2%
MEG Energy Corp1.2%
Richelieu Hardware Ltd1.2%
Russel Metals Inc1.2%
Suncor Energy Inc1.2%
Vermilion Energy Inc1.2%
North West Co Inc/The1.2%
Spin Master Corp1.1%
ATS Automation Tooling Systems1.1%
Western Forest Products Inc1.1%
Sleep Country Canada Holdings1.1%
Guardian Capital Group Ltd1.1%
CI Financial Corp1.1%
Parex Resources Inc1.1%
Celestica Inc1.1%
Westshore Terminals Investment Corp1.1%
TransGlobe Energy Corp1.1%
TFI International Inc1.1%
Empire Co Ltd1.1%
BRP Inc1.1%
Finning International Inc1.1%
Baytex Energy Corp1.1%
Corus Entertainment Inc1.1%
Canaccord Genuity Group Inc1.1%
Stelco Holdings Inc1.1%
Evertz Technologies Ltd1.1%
Hardwoods Distribution Inc1.0%
Wajax Corp1.0%
Birchcliff Energy Ltd1.0%
Medical Facilities Corp1.0%
Frontera Energy Corp1.0%
AutoCanada Inc1.0%
Resolute Forest Products Inc0.9%

 

Short Security NameWeight
Park Lawn Corp-1.2%
Osisko Mining Inc-1.2%
Orla Mining Ltd-1.1%
Quarterhill Inc-1.1%
Gatos Silver Inc-1.1%
Seabridge Gold Inc-1.1%
Gibson Energy Inc-1.1%
TransAlta Renewables Inc-1.1%
Emera Inc-1.1%
Restaurant Brands International-1.1%
Brookfield Renewable Partners-1.1%
Osisko Gold Royalties Ltd-1.1%
Ritchie Bros Auctioneers Inc-1.0%
Boralex Inc-1.0%
Killam Apartment Real Estate Investment Trust-1.0%
Innergex Renewable Energy Inc-1.0%
Algonquin Power & Utilities Co-1.0%
Ag Growth International Inc-1.0%
Sierra Wireless Inc-1.0%
Inovalis Real Estate Investment Trust-1.0%
Ceridian HCM Holding Inc-1.0%
Eldorado Gold Corp-1.0%
Aimia Inc-1.0%
SilverCrest Metals Inc-1.0%
Chartwell Retirement Residence-1.0%
Maxar Technologies Inc-1.0%
TC Energy Corp-1.0%
Ballard Power Systems Inc-1.0%
Saputo Inc-1.0%
Doman Building Materials Group-1.0%
Cargojet Inc-1.0%
Sienna Senior Living Inc-1.0%
SunOpta Inc-1.0%
Martinrea International Inc-1.0%
ARC Resources Ltd-1.0%
Polaris Infrastructure Inc-1.0%
Novagold Resources Inc-0.9%
Laurentian Bank of Canada-0.9%
Canada Goose Holdings Inc-0.9%
Badger Infrastructure Solutions Ltd-0.9%
MAG Silver Corp-0.9%
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