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:
$0.10 per quarter

Exchange:
TSX

Currency:
CAD

Risk Rating:
Medium

Historical 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-Mar-31

1 Month3 MonthsYTD1 Year3 YearsSince Inception
ATSX4.4%6.4%6.4%28.2%n/a6.1%

Overlay Fund Characteristics as of 2021-Mar-31

Long Short
Number of Securities4344
Average Market Cap ($mm)$5,275$6,970
Beta1.11.2
EBITDA/EV15.9%3.6%
FCF/EV10.6%-0.7%
Trailing Return130.9%73.6%
Pct of 52 Week High89.9%84.0%
Return on Capital17.6%-2.3%
Gross Profits/Assets6.8%1.8%
50 DMA to 200 DMA117%111.4%
EPS Revision1.5%-3.2%
Change In Shares-2.2%6.8%
Earnings Abnormal Return4.0%0.5%

Sector Weightings as of 2021-Mar-31

Long Short
Communication Services5.9%-1.2%
Consumer Discretionary6.8%-1.0%
Consumer Staples3.5%0.0%
Energy4.6%-7.9%
Financials4.7%-1.0%
Health Care2.3%-3.4%
Industrials10.7%-6.2%
Information Technology2.3%-3.9%
Materials7.9%-10.1%
Real Estate1.1%-7.5%
Utilities1.2%-3.3%
Overlay Equity Exposure51.0%-45.4%
S&P/TSX60 Index Exposure98.5%0.0%
TOTAL PORTFOLIO EXPOSURE149.5%-45.4%

Fund Holdings as of 2021-Mar-31

Long Security NameWeight
S&P / TSX 60 Index Futures81.9%
IShares S&P TSX 60 Index ETF16.6%
Corus Entertainment Inc2.3%
BRP Inc1.3%
CanWel Building Materials Grou1.3%
AGF Management Ltd1.3%
West Fraser Timber Co Ltd1.3%
IBI Group Inc1.2%
Hardwoods Distribution Inc1.2%
TFI International Inc1.2%
Interfor Corp1.2%
North West Co Inc/The1.2%
Cogeco Inc1.2%
CI Financial Corp1.2%
Richelieu Hardware Ltd1.2%
Brookfield Infrastructure Corp1.2%
Cogeco Communications Inc1.2%
Alimentation Couche-Tard Inc1.2%
Cervus Equipment Corp1.2%
Sleep Country Canada Holdings1.2%
Parex Resources Inc1.2%
Westshore Terminals Investment1.2%
Quebecor Inc1.2%
Viemed Healthcare Inc1.2%
Medical Facilities Corp1.2%
goeasy Ltd1.2%
PHX Energy Services Corp1.2%
Canacol Energy Ltd1.2%
Kinross Gold Corp1.1%
Transcontinental Inc1.1%
CGI Inc1.1%
Empire Co Ltd1.1%
Parkland Corp/Canada1.1%
Canfor Corp1.1%
Linamar Corp1.1%
Magna International Inc1.1%
Canaccord Genuity Group Inc1.1%
Celestica Inc1.1%
B2Gold Corp1.1%
Aritzia Inc1.1%
Real Matters Inc1.1%
Champion Iron Ltd1.0%
Dundee Precious Metals Inc1.0%
Taiga Building Products Ltd1.0%
AutoCanada Inc1.0%

 

Short Security NameWeight
Aimia Inc-1.2%
Sienna Senior Living Inc-1.2%
AltaGas Ltd-1.1%
Summit Industrial Income REIT-1.1%
First Capital Real Estate Inve-1.1%
Chartwell Retirement Residence-1.1%
Lightspeed POS Inc-1.1%
Extendicare Inc-1.1%
RioCan Real Estate Investment-1.1%
Ritchie Bros Auctioneers Inc-1.1%
Emera Inc-1.1%
Novagold Resources Inc-1.1%
SilverCrest Metals Inc-1.1%
TC Energy Corp-1.1%
Ballard Power Systems Inc-1.1%
Algonquin Power & Utilities Co-1.0%
Restaurant Brands Internationa-1.0%
SNC-Lavalin Group Inc-1.0%
CAE Inc-1.0%
SmartCentres Real Estate Inves-1.0%
Osisko Gold Royalties Ltd-1.0%
Killam Apartment Real Estate I-1.0%
Keyera Corp-1.0%
Morguard North American Reside-1.0%
Laurentian Bank of Canada-1.0%
Orla Mining Ltd-1.0%
Ceridian HCM Holding Inc-1.0%
Pembina Pipeline Corp-1.0%
Osisko Mining Inc-1.0%
Cominar Real Estate Investment-1.0%
Sandstorm Gold Ltd-1.0%
PrairieSky Royalty Ltd-1.0%
Seabridge Gold Inc-1.0%
SSR Mining Inc-1.0%
Air Canada-1.0%
Cenovus Energy Inc-1.0%
NFI Group Inc-1.0%
MAG Silver Corp-1.0%
Sierra Wireless Inc-0.9%
Vermilion Energy Inc-0.9%
MEG Energy Corp-0.9%
Enerplus Corp-0.9%
Methanex Corp-0.9%
BlackBerry Ltd-0.8%
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