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:
$0.42 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Track Record
Investment Process
In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.
Performance as of 2023-Feb-28
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | -0.2% | -2.4% | 4.0% | -2.0% | 9.5% | 7.6% |
Overlay Fund Characteristics as of 2023-Feb-28
| Long | Short | |
|---|---|---|
| Number of Securities | 45 | 46 |
| Average Market Cap ($mm) | $21,052 | $8,881 |
| Beta | 1.0 | 1.2 |
| EBITDA/EV | 19.1% | 4.7% |
| FCF/EV | 9.0% | -4.2% |
| Trailing Return | 14.3% | -21.8% |
| Pct of 52 Week High | 90.4% | 69.3% |
| Return on Capital | 20.7% | 0.7% |
| Gross Profits/Assets | 6.7% | 2.3% |
| 50 DMA to 200 DMA | 108% | 96.0% |
| EPS Revision | -2.5% | 2.2% |
| Change In Shares | -1.3% | 1.9% |
| Earnings Abnormal Return | 0.8% | -1.1% |
Sector Weightings as of 2023-Feb-28
| Long | Short | |
|---|---|---|
| Communication Services | 1.1% | -1.0% |
| Consumer Discretionary | 8.7% | -1.9% |
| Consumer Staples | 6.8% | -2.0% |
| Energy | 10.1% | -4.0% |
| Financials | 4.4% | -2.9% |
| Health Care | 0.0% | -1.0% |
| Industrials | 6.6% | -6.9% |
| Information Technology | 2.2% | -5.7% |
| Materials | 9.7% | -9.5% |
| Real Estate | 0.0% | -6.9% |
| Utilities | 0.0% | -3.0% |
| Overlay Equity Exposure | 49.6% | -44.8% |
| S&P/TSX60 Index Exposure | 97.7% | 0.0% |
| TOTAL PORTFOLIO EXPOSURE | 147.3% | -44.8% |
Fund Holdings as of 2023-Feb-28
| Long Security Name | Weight | |
|---|---|---|
| S&P / TSX 60 Index Futures | 92.5% | |
| IShares S&P TSX 60 Index ETF | 5.2% | |
| Russel Metals Inc | 1.2% | |
| Intact Financial Corp | 1.2% | |
| Alimentation Couche-Tard Inc | 1.1% | |
| International Petroleum Corp | 1.1% | |
| ARC Resources Ltd | 1.1% | |
| North West Co Inc/The | 1.1% | |
| Metro Inc/CN | 1.1% | |
| Imperial Oil Ltd | 1.1% | |
| TFI International Inc | 1.1% | |
| Parex Resources Inc | 1.1% | |
| George Weston Ltd | 1.1% | |
| Canadian Natural Resources Ltd | 1.1% | |
| Canadian National Railway Co | 1.1% | |
| NuVista Energy Ltd | 1.1% | |
| Empire Co Ltd | 1.1% | |
| Uni-Select Inc | 1.1% | |
| Canadian Tire Corp Ltd | 1.1% | |
| Finning International Inc | 1.1% | |
| Celestica Inc | 1.1% | |
| iA Financial Corp Inc | 1.1% | |
| Dollarama Inc | 1.1% | |
| Quebecor Inc | 1.1% | |
| Loblaw Cos Ltd | 1.1% | |
| Restaurant Brands Internationa | 1.1% | |
| CGI Inc | 1.1% | |
| Linamar Corp | 1.1% | |
| Mullen Group Ltd | 1.1% | |
| Stelco Holdings Inc | 1.1% | |
| Birchcliff Energy Ltd | 1.1% | |
| Baytex Energy Corp | 1.1% | |
| Stella-Jones Inc | 1.1% | |
| BRP Inc | 1.1% | |
| Enerplus Corp | 1.1% | |
| Royal Bank of Canada | 1.1% | |
| West Fraser Timber Co Ltd | 1.1% | |
| CCL Industries Inc | 1.1% | |
| Teck Resources Ltd | 1.1% | |
| Element Fleet Management Corp | 1.1% | |
| Nutrien Ltd | 1.1% | |
| Chemtrade Logistics Income Fun | 1.1% | |
| Martinrea International Inc | 1.1% | |
| Aritzia Inc | 1.0% | |
| Torex Gold Resources Inc | 1.0% | |
| Lundin Gold Inc | 1.0% | |
| Bombardier Inc | 1.0% |
| Short Security Name | Weight | |
|---|---|---|
| Tricon Residential Inc | -1.0% | |
| Algonquin Power & Utilities Co | -1.0% | |
| Premium Brands Holdings Corp | -1.0% | |
| Dream Industrial Real Estate Investment Trust | -1.0% | |
| Aecon Group Inc | -1.0% | |
| CAE Inc | -1.0% | |
| Cargojet Inc | -1.0% | |
| TC Energy Corp | -1.0% | |
| WSP Global Inc | -1.0% | |
| Maple Leaf Foods Inc | -1.0% | |
| Superior Plus Corp | -1.0% | |
| Chartwell Retirement Residence | -1.0% | |
| Energy Fuels Inc/Canada | -1.0% | |
| Tucows Inc | -1.0% | |
| Westshore Terminals Investment | -1.0% | |
| Canadian Apartment Properties | -1.0% | |
| Wesdome Gold Mines Ltd | -1.0% | |
| Canadian Western Bank | -1.0% | |
| Park Lawn Corp | -1.0% | |
| NorthWest Healthcare Propertie | -1.0% | |
| Killam Apartment Real Estate I | -1.0% | |
| NexGen Energy Ltd | -1.0% | |
| Brookfield Corp | -1.0% | |
| SilverCrest Metals Inc | -1.0% | |
| Parkland Corp | -1.0% | |
| SNC-Lavalin Group Inc | -1.0% | |
| Allied Properties Real Estate | -1.0% | |
| Ceridian HCM Holding Inc | -1.0% | |
| Ballard Power Systems Inc | -1.0% | |
| Osisko Mining Inc | -1.0% | |
| AltaGas Ltd | -1.0% | |
| InterRent Real Estate Investme | -1.0% | |
| Novagold Resources Inc | -1.0% | |
| Shopify Inc | -1.0% | |
| TELUS Corp | -1.0% | |
| MAG Silver Corp | -0.9% | |
| Pan American Silver Corp | -0.9% | |
| BlackBerry Ltd | -0.9% | |
| Endeavour Silver Corp | -0.9% | |
| Eldorado Gold Corp | -0.9% | |
| ECN Capital Corp | -0.9% | |
| Seabridge Gold Inc | -0.9% | |
| Spin Master Corp | -0.9% | |
| Nuvei Corp | -0.9% | |
| Lightspeed Commerce Inc | -0.9% | |
| Equinox Gold Corp | -0.9% | |
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.
