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:
$23.6800
Date:
2021-09-17
MEDIA
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:
$0.10 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
DISCLAIMER: This information on this web page does not constitute investment, legal or tax advice. Past performance is not indicative of future results. Any data provided on this web page should not be viewed as a recommendation or solicitation of an offer to buy or sell any securities or investment strategies. The information on this web page is based on market conditions and may fluctuate and change without notice. Accelerate does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this website and any liability is expressly disclaimed.
Track Record
Investment Process
In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.
Performance as of 2021-Aug-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | 2.7% | 5.1% | 15.9% | 12.2% | n/a | 8.9% |
Overlay Fund Characteristics as of 2021-Aug-31
| Long | Short | |
|---|---|---|
| Number of Securities | 41 | 41 |
| Average Market Cap ($mm) | $7,729 | $8,744 |
| Beta | 1.3 | 1.0 |
| EBITDA/EV | 19.0% | 2.7% |
| FCF/EV | 14.1% | -1.1% |
| Trailing Return | 83.2% | 14.6% |
| Pct of 52 Week High | 90.3% | 81.2% |
| Return on Capital | 23.7% | 1.0% |
| Gross Profits/Assets | 8.6% | 1.9% |
| 50 DMA to 200 DMA | 113% | 100.0% |
| EPS Revision | 2.5% | -4.5% |
| Change In Shares | 0.2% | 7.5% |
| Earnings Abnormal Return | 2.5% | -0.4% |
Sector Weightings as of 2021-Aug-31
| Long | Short | |
|---|---|---|
| Communication Services | 1.3% | -1.0% |
| Consumer Discretionary | 8.4% | -1.2% |
| Consumer Staples | 6.2% | -1.1% |
| Energy | 7.3% | -1.1% |
| Financials | 3.8% | -2.2% |
| Health Care | 1.4% | -1.0% |
| Industrials | 10.0% | -9.2% |
| Information Technology | 1.2% | -6.1% |
| Materials | 10.0% | -10.3% |
| Real Estate | 0.0% | -7.0% |
| Utilities | 1.2% | -6.9% |
| Overlay Equity Exposure | 50.8% | -47.0% |
| S&P/TSX60 Index Exposure | 100.3% | 0.0% |
| TOTAL PORTFOLIO EXPOSURE | 151.1% | -47.0% |
Fund Holdings as of 2021-Aug-31
| Long Security Name | Weight | |
|---|---|---|
| S&P / TSX 60 Index Futures | 97.4% | |
| IShares S&P TSX 60 Index ETF | 2.9% | |
| Cervus Equipment Corp | 1.6% | |
| Stelco Holdings Inc | 1.4% | |
| Medical Facilities Corp | 1.4% | |
| Canaccord Genuity Group Inc | 1.3% | |
| Westshore Terminals Investment | 1.3% | |
| Canfor Corp | 1.3% | |
| Corus Entertainment Inc | 1.3% | |
| ARC Resources Ltd | 1.3% | |
| Interfor Corp | 1.3% | |
| George Weston Ltd | 1.3% | |
| West Fraser Timber Co Ltd | 1.3% | |
| Richelieu Hardware Ltd | 1.3% | |
| Aritzia Inc | 1.3% | |
| Loblaw Cos Ltd | 1.3% | |
| BRP Inc | 1.3% | |
| AGF Management Ltd | 1.3% | |
| TFI International Inc | 1.3% | |
| Resolute Forest Products Inc | 1.3% | |
| Parex Resources Inc | 1.2% | |
| North West Co Inc/The | 1.2% | |
| Empire Co Ltd | 1.2% | |
| Sleep Country Canada Holdings | 1.2% | |
| Wajax Corp | 1.2% | |
| Alimentation Couche-Tard Inc | 1.2% | |
| Baytex Energy Corp | 1.2% | |
| Canadian Natural Resources Ltd | 1.2% | |
| CI Financial Corp | 1.2% | |
| CGI Inc | 1.2% | |
| Uni-Select Inc | 1.2% | |
| Brookfield Infrastructure Corp | 1.2% | |
| Transcontinental Inc | 1.2% | |
| Linamar Corp | 1.2% | |
| Capstone Mining Corp | 1.2% | |
| Hardwoods Distribution Inc | 1.2% | |
| Frontera Energy Corp | 1.2% | |
| Russel Metals Inc | 1.2% | |
| AutoCanada Inc | 1.2% | |
| Vermilion Energy Inc | 1.1% | |
| Magna International Inc | 1.1% | |
| Champion Iron Ltd | 1.1% | |
| Doman Building Materials Group | 1.0% |
| Communication Services | Consumer Discretionary | Consumer Staples | Energy | Financials | Health Care | Industrials | Information Technology | Materials | Real Estate | Utilities | Overlay Equity Exposure | S&P/TSX60 Index Exposure | TOTAL PORTFOLIO EXPOSURE | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -1.0% | -1.2% | -1.1% | -1.1% | -2.2% | -1.0% | -9.2% | -6.1% | -10.3% | -7.0% | -6.9% | -47.0% | 0.0% | -47.0% | |
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