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:
$24.6119
Date:
2021-12-06
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:
$0.42 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
DISCLAIMER: This information on this web page does not constitute investment, legal or tax advice. Past performance is not indicative of future results. Any data provided on this web page should not be viewed as a recommendation or solicitation of an offer to buy or sell any securities or investment strategies. The information on this web page is based on market conditions and may fluctuate and change without notice. Accelerate does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this website and any liability is expressly disclaimed.
Track Record
Investment Process
In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.
Performance as of 2021-Nov-30
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | -1.3% | 3.1% | 19.5% | 19.8% | n/a | 9.2% |
Overlay Fund Characteristics as of 2021-Nov-30
| Long | Short | |
|---|---|---|
| Number of Securities | 42 | 44 |
| Average Market Cap ($mm) | $6,866 | $6,208 |
| Beta | 1.3 | 1.1 |
| EBITDA/EV | 24.0% | 4.2% |
| FCF/EV | 13.6% | -1.1% |
| Trailing Return | 86.6% | 3.7% |
| Pct of 52 Week High | 85.4% | 74.9% |
| Return on Capital | 21.6% | 1.3% |
| Gross Profits/Assets | 8.5% | 2.2% |
| 50 DMA to 200 DMA | 113% | 97.5% |
| EPS Revision | 5.6% | -7.4% |
| Change In Shares | -0.6% | 7.4% |
| Earnings Abnormal Return | 2.9% | 0.3% |
Sector Weightings as of 2021-Nov-30
| Long | Short | |
|---|---|---|
| Communication Services | 1.1% | -1.0% |
| Consumer Discretionary | 8.3% | -4.2% |
| Consumer Staples | 4.6% | -2.0% |
| Energy | 9.9% | -3.0% |
| Financials | 3.3% | -0.9% |
| Health Care | 1.0% | -2.0% |
| Industrials | 8.8% | -8.7% |
| Information Technology | 2.2% | -4.0% |
| Materials | 8.4% | -9.4% |
| Real Estate | 0.0% | -2.1% |
| Utilities | 0.0% | -7.3% |
| Overlay Equity Exposure | 47.6% | -44.5% |
| S&P/TSX60 Index Exposure | 99.6% | 0.0% |
| TOTAL PORTFOLIO EXPOSURE | 147.2% | -44.5% |
Fund Holdings as of 2021-Nov-30
| Long Security Name | Weight | |
|---|---|---|
| S&P / TSX 60 Index Futures | 93.9% | |
| IShares S&P TSX 60 Index ETF | 5.6% | |
| Uni-Select Inc | 1.6% | |
| Resolute Forest Products Inc | 1.3% | |
| Interfor Corp | 1.3% | |
| Canfor Corp | 1.2% | |
| Loblaw Cos Ltd | 1.2% | |
| West Fraser Timber Co Ltd | 1.2% | |
| Canadian Natural Resources Ltd | 1.2% | |
| Aritzia Inc | 1.2% | |
| Champion Iron Ltd | 1.2% | |
| Gildan Activewear Inc | 1.2% | |
| George Weston Ltd | 1.2% | |
| MEG Energy Corp | 1.2% | |
| Richelieu Hardware Ltd | 1.2% | |
| Russel Metals Inc | 1.2% | |
| Suncor Energy Inc | 1.2% | |
| Vermilion Energy Inc | 1.2% | |
| North West Co Inc/The | 1.2% | |
| Spin Master Corp | 1.1% | |
| ATS Automation Tooling Systems | 1.1% | |
| Western Forest Products Inc | 1.1% | |
| Sleep Country Canada Holdings | 1.1% | |
| Guardian Capital Group Ltd | 1.1% | |
| CI Financial Corp | 1.1% | |
| Parex Resources Inc | 1.1% | |
| Celestica Inc | 1.1% | |
| Westshore Terminals Investment Corp | 1.1% | |
| TransGlobe Energy Corp | 1.1% | |
| TFI International Inc | 1.1% | |
| Empire Co Ltd | 1.1% | |
| BRP Inc | 1.1% | |
| Finning International Inc | 1.1% | |
| Baytex Energy Corp | 1.1% | |
| Corus Entertainment Inc | 1.1% | |
| Canaccord Genuity Group Inc | 1.1% | |
| Stelco Holdings Inc | 1.1% | |
| Evertz Technologies Ltd | 1.1% | |
| Hardwoods Distribution Inc | 1.0% | |
| Wajax Corp | 1.0% | |
| Birchcliff Energy Ltd | 1.0% | |
| Medical Facilities Corp | 1.0% | |
| Frontera Energy Corp | 1.0% | |
| AutoCanada Inc | 1.0% | |
| Resolute Forest Products Inc | 0.9% |
| Short Security Name | Weight | |
|---|---|---|
| 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% | |
EXPLORE OTHER INVESTMENT SOLUTIONS
