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:
$0.42 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Track Record
Investment Process
In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.
Performance as of 2023-Apr-30
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | 4.9% | 1.9% | 6.2% | -1.5% | 12.1% | 7.8% |
Overlay Fund Characteristics as of 2023-Apr-30
| Long | Short | |
|---|---|---|
| Number of Securities | 45 | 45 |
| Average Market Cap ($mm) | $19,799 | $8,640 |
| Beta | 1.1 | 1.2 |
| EBITDA/EV | 19.0% | 4.9% |
| FCF/EV | 7.5% | -3.8% |
| Trailing Return | 10.2% | -27.5% |
| Pct of 52 Week High | 91.4% | 72.4% |
| Return on Capital | 20.5% | -1.4% |
| Gross Profits/Assets | 7.3% | 2.1% |
| 50 DMA to 200 DMA | 110% | 98.3% |
| EPS Revision | -4.2% | -0.4% |
| Change In Shares | -1.0% | 3.1% |
| Earnings Abnormal Return | 0.7% | -3.4% |
Sector Weightings as of 2023-Apr-30
| Long | Short | |
|---|---|---|
| Communication Services | 1.1% | -1.0% |
| Consumer Discretionary | 6.7% | -1.0% |
| Consumer Staples | 5.4% | -2.0% |
| Energy | 10.1% | -4.1% |
| Financials | 3.4% | -3.1% |
| Health Care | 0.0% | -1.0% |
| Industrials | 10.1% | -6.1% |
| Information Technology | 2.2% | -5.1% |
| Materials | 11.1% | -11.4% |
| Real Estate | 0.0% | -7.2% |
| Utilities | 0.0% | -4.1% |
| Overlay Equity Exposure | 50.0% | -46.1% |
| S&P/TSX60 Index Exposure | 99.5% | 0.0% |
| TOTAL PORTFOLIO EXPOSURE | 149.5% | -46.1% |
Fund Holdings as of 2023-Apr-30
| Long Security Name | Weight | |
|---|---|---|
| S&P / TSX 60 Index Futures | 94.6% | |
| IShares S&P TSX 60 Index ETF | 4.9% | |
| Frontera Energy Corp | 1.2% | |
| Element Fleet Management Corp | 1.2% | |
| Ag Growth International Inc | 1.1% | |
| Martinrea International Inc | 1.1% | |
| Canadian National Railway Co | 1.1% | |
| Dollarama Inc | 1.1% | |
| Finning International Inc | 1.1% | |
| NuVista Energy Ltd | 1.1% | |
| Silvercorp Metals Inc | 1.1% | |
| Parex Resources Inc | 1.1% | |
| Canadian Natural Resources Ltd | 1.1% | |
| Teck Resources Ltd | 1.1% | |
| Stantec Inc | 1.1% | |
| Russel Metals Inc | 1.1% | |
| Torex Gold Resources Inc | 1.1% | |
| Linamar Corp | 1.1% | |
| CGI Inc | 1.1% | |
| BRP Inc | 1.1% | |
| Dundee Precious Metals Inc | 1.1% | |
| Imperial Oil Ltd | 1.1% | |
| Lundin Gold Inc | 1.1% | |
| Restaurant Brands International | 1.1% | |
| MEG Energy Corp | 1.1% | |
| Royal Bank of Canada | 1.1% | |
| Bombardier Inc | 1.1% | |
| Stelco Holdings Inc | 1.1% | |
| Baytex Energy Corp | 1.1% | |
| iA Financial Corp Inc | 1.1% | |
| TFI International Inc | 1.1% | |
| Celestica Inc | 1.1% | |
| Mullen Group Ltd | 1.1% | |
| CCL Industries Inc | 1.1% | |
| Stella-Jones Inc | 1.1% | |
| Chemtrade Logistics Income Fund | 1.1% | |
| Alimentation Couche-Tard Inc | 1.1% | |
| Boyd Group Services Inc | 1.1% | |
| Canadian Tire Corp Ltd | 1.1% | |
| Quebecor Inc | 1.1% | |
| North West Co Inc/The | 1.1% | |
| Loblaw Cos Ltd | 1.1% | |
| ARC Resources Ltd | 1.1% | |
| Pason Systems Inc | 1.1% | |
| Nutrien Ltd | 1.1% | |
| George Weston Ltd | 1.1% | |
| Empire Co Ltd | 1.1% |
| Short Security Name | Weight | |
|---|---|---|
| Osisko Mining Inc | -1.1% | |
| Endeavour Silver Corp | -1.1% | |
| Novagold Resources Inc | -1.1% | |
| Wesdome Gold Mines Ltd | -1.0% | |
| ECN Capital Corp | -1.0% | |
| MAG Silver Corp | -1.0% | |
| TC Energy Corp | -1.0% | |
| First Majestic Silver Corp | -1.0% | |
| Nexus Industrial REIT | -1.0% | |
| Aecon Group Inc | -1.0% | |
| Seabridge Gold Inc | -1.0% | |
| Lightspeed Commerce Inc | -1.0% | |
| Pan American Silver Corp | -1.0% | |
| Brookfield Corp | -1.0% | |
| Shopify Inc | -1.0% | |
| True North Commercial Real Estate Investment Trust | -1.0% | |
| Innergex Renewable Energy Inc | -1.0% | |
| Killam Apartment Real Estate Investment Trust | -1.0% | |
| Chartwell Retirement Residence | -1.0% | |
| TELUS Corp | -1.0% | |
| InterRent Real Estate Investment Trust | -1.0% | |
| Energy Fuels Inc/Canada | -1.0% | |
| NexGen Energy Ltd | -1.0% | |
| Equinox Gold Corp | -1.0% | |
| Air Canada | -1.0% | |
| AltaGas Ltd | -1.0% | |
| Canadian Western Bank | -1.0% | |
| SNC-Lavalin Group Inc | -1.0% | |
| Algonquin Power & Utilities Co | -1.0% | |
| Cargojet Inc | -1.0% | |
| Fortuna Silver Mines Inc | -1.0% | |
| Westshore Terminals Investment Corp | -1.0% | |
| Sandstorm Gold Ltd | -1.0% | |
| Allied Properties Real Estate Investment Trust | -1.0% | |
| Kinaxis Inc | -1.0% | |
| Tricon Residential Inc | -1.0% | |
| TransAlta Renewables Inc | -1.0% | |
| Maple Leaf Foods Inc | -1.0% | |
| NorthWest Healthcare Properties | -1.0% | |
| BlackBerry Ltd | -1.0% | |
| Tamarack Valley Energy Ltd | -1.0% | |
| Premium Brands Holdings Corp | -1.0% | |
| Ballard Power Systems Inc | -1.0% | |
| Ceridian HCM Holding Inc | -1.0% | |
| Spin Master Corp | -1.0% | |
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.
