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:
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:
$0.42 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
DISCLAIMER: This information on this web page does not constitute investment, legal or tax advice. Past performance is not indicative of future results. Any data provided on this web page should not be viewed as a recommendation or solicitation of an offer to buy or sell any securities or investment strategies. The information on this web page is based on market conditions and may fluctuate and change without notice. Accelerate does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this website and any liability is expressly disclaimed.
Track Record
Investment Process
In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.
Performance as of 2022-May-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | -0.2% | 1.3% | 1.9% | 18.2% | 10.71% | 10.7% |
Overlay Fund Characteristics as of 2022-May-31
| Long | Short | |
|---|---|---|
| Number of Securities | 43 | 42 |
| Average Market Cap ($mm) | $14,076 | $8,458 |
| Beta | 1.2 | 1.1 |
| EBITDA/EV | 20.7% | 4.5% |
| FCF/EV | 11.0% | -3.2% |
| Trailing Return | 46.2% | -17.1% |
| Pct of 52 Week High | 86.6% | 68.0% |
| Return on Capital | 25.6% | 0.0% |
| Gross Profits/Assets | 8.6% | 2.5% |
| 50 DMA to 200 DMA | 110% | 91.9% |
| EPS Revision | 2.1% | 5.7% |
| Change In Shares | -2.4% | 5.1% |
| Earnings Abnormal Return | -0.7% | -1.5% |
Sector Weightings as of 2022-May-31
| Long | Short | |
|---|---|---|
| Communication Services | 0.0% | -1.1% |
| Consumer Discretionary | 8.3% | -2.3% |
| Consumer Staples | 8.1% | -3.1% |
| Energy | 11.4% | -2.2% |
| Financials | 3.5% | -1.1% |
| Health Care | 0.9% | -2.2% |
| Industrials | 7.1% | -9.2% |
| Information Technology | 1.2% | -7.2% |
| Materials | 10.4% | -11.0% |
| Real Estate | 0.0% | -2.3% |
| Utilities | 0.0% | -4.4% |
| Overlay Equity Exposure | 50.9% | -46.0% |
| S&P/TSX60 Index Exposure | 98.1% | 0.0% |
| TOTAL PORTFOLIO EXPOSURE | 149.0% | -46.0% |
Fund Holdings as of 2022-May-31
| Long Security Name | Weight | |
|---|---|---|
| S&P / TSX 60 Index Futures | 89.3% | |
| IShares S&P TSX 60 Index ETF | 8.8% | |
| Birchcliff Energy Ltd | 1.4% | |
| Enerplus Corp | 1.3% | |
| Parex Resources Inc | 1.3% | |
| Champion Iron Ltd | 1.3% | |
| Canfor Corp | 1.3% | |
| TransGlobe Energy Corp | 1.3% | |
| Baytex Energy Corp | 1.3% | |
| Suncor Energy Inc | 1.2% | |
| Bird Construction Inc | 1.2% | |
| NuVista Energy Ltd | 1.2% | |
| Canadian Natural Resources Ltd | 1.2% | |
| Spin Master Corp | 1.2% | |
| Canadian Tire Corp Ltd | 1.2% | |
| Canaccord Genuity Group Inc | 1.2% | |
| Uni-Select Inc | 1.2% | |
| Alimentation Couche-Tard Inc | 1.2% | |
| Sleep Country Canada Holdings | 1.2% | |
| Dollarama Inc | 1.2% | |
| Russel Metals Inc | 1.2% | |
| North West Co Inc/The | 1.2% | |
| George Weston Ltd | 1.2% | |
| Celestica Inc | 1.2% | |
| Toromont Industries Ltd | 1.2% | |
| Westshore Terminals Investment | 1.2% | |
| Gildan Activewear Inc | 1.2% | |
| TFI International Inc | 1.2% | |
| Bank of Montreal | 1.2% | |
| Advantage Energy Ltd | 1.2% | |
| Loblaw Cos Ltd | 1.2% | |
| Aritzia Inc | 1.2% | |
| Methanex Corp | 1.2% | |
| Stelco Holdings Inc | 1.2% | |
| Metro Inc/CN | 1.1% | |
| Resolute Forest Products Inc | 1.1% | |
| Empire Co Ltd | 1.1% | |
| Finning International Inc | 1.1% | |
| Corby Spirit and Wine Ltd | 1.1% | |
| Interfor Corp | 1.1% | |
| Western Forest Products Inc | 1.1% | |
| Nutrien Ltd | 1.1% | |
| Guardian Capital Group Ltd | 1.1% | |
| Centerra Gold Inc | 1.1% |
| Short Security Name | Weight | |
|---|---|---|
| Sierra Wireless Inc | -1.4% | |
| Nuvei Corp | -1.3% | |
| Ballard Power Systems Inc | -1.2% | |
| Martinrea International Inc | -1.2% | |
| CAE Inc | -1.2% | |
| Inovalis Real Estate Investment Trust | -1.2% | |
| Ceridian HCM Holding Inc | -1.2% | |
| SNC-Lavalin Group Inc | -1.2% | |
| LifeWorks Inc | -1.1% | |
| Polaris Infrastructure Inc | -1.1% | |
| Kinaxis Inc | -1.1% | |
| Lightspeed Commerce Inc | -1.1% | |
| Doman Building Materials Group | -1.1% | |
| Premium Brands Holdings Corp | -1.1% | |
| Altus Group Ltd/Canada | -1.1% | |
| Aecon Group Inc | -1.1% | |
| Aimia Inc | -1.1% | |
| SilverCrest Metals Inc | -1.1% | |
| Chartwell Retirement Residence | -1.1% | |
| Algonquin Power & Utilities Co | -1.1% | |
| MAG Silver Corp | -1.1% | |
| Maxar Technologies Inc | -1.1% | |
| Innergex Renewable Energy Inc | -1.1% | |
| Sienna Senior Living Inc | -1.1% | |
| Laurentian Bank of Canada | -1.1% | |
| TC Energy Corp | -1.1% | |
| IAMGOLD Corp | -1.1% | |
| Air Canada | -1.1% | |
| Restaurant Brands International Inc | -1.1% | |
| Gatos Silver Inc | -1.1% | |
| Emera Inc | -1.1% | |
| Enbridge Inc | -1.1% | |
| Novagold Resources Inc | -1.0% | |
| Osisko Mining Inc | -1.0% | |
| Docebo Inc | -1.0% | |
| Osisko Gold Royalties Ltd | -1.0% | |
| Saputo Inc | -1.0% | |
| First Majestic Silver Corp | -1.0% | |
| Orla Mining Ltd | -1.0% | |
| SunOpta Inc | -1.0% | |
| Seabridge Gold Inc | -1.0% | |
| Argonaut Gold Inc | -0.5% | |
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