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
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:
  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 2022-May-31

1 Month3 MonthsYTD1 Year3 YearsSince 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 Securities4342
Average Market Cap ($mm)$14,076$8,458
Beta1.21.1
EBITDA/EV20.7%4.5%
FCF/EV11.0%-3.2%
Trailing Return46.2%-17.1%
Pct of 52 Week High86.6%68.0%
Return on Capital25.6%0.0%
Gross Profits/Assets8.6%2.5%
50 DMA to 200 DMA110%91.9%
EPS Revision2.1%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 Services0.0%-1.1%
Consumer Discretionary8.3%-2.3%
Consumer Staples8.1%-3.1%
Energy11.4%-2.2%
Financials3.5%-1.1%
Health Care0.9%-2.2%
Industrials7.1%-9.2%
Information Technology1.2%-7.2%
Materials10.4%-11.0%
Real Estate0.0%-2.3%
Utilities0.0%-4.4%
Overlay Equity Exposure50.9%-46.0%
S&P/TSX60 Index Exposure98.1%0.0%
TOTAL PORTFOLIO EXPOSURE149.0%-46.0%

Fund Holdings as of 2022-May-31

Long Security NameWeight
S&P / TSX 60 Index Futures89.3%
IShares S&P TSX 60 Index ETF8.8%
Birchcliff Energy Ltd1.4%
Enerplus Corp1.3%
Parex Resources Inc1.3%
Champion Iron Ltd1.3%
Canfor Corp1.3%
TransGlobe Energy Corp1.3%
Baytex Energy Corp1.3%
Suncor Energy Inc1.2%
Bird Construction Inc1.2%
NuVista Energy Ltd1.2%
Canadian Natural Resources Ltd1.2%
Spin Master Corp1.2%
Canadian Tire Corp Ltd1.2%
Canaccord Genuity Group Inc1.2%
Uni-Select Inc1.2%
Alimentation Couche-Tard Inc1.2%
Sleep Country Canada Holdings1.2%
Dollarama Inc1.2%
Russel Metals Inc1.2%
North West Co Inc/The1.2%
George Weston Ltd1.2%
Celestica Inc1.2%
Toromont Industries Ltd1.2%
Westshore Terminals Investment1.2%
Gildan Activewear Inc1.2%
TFI International Inc1.2%
Bank of Montreal1.2%
Advantage Energy Ltd1.2%
Loblaw Cos Ltd1.2%
Aritzia Inc1.2%
Methanex Corp1.2%
Stelco Holdings Inc1.2%
Metro Inc/CN1.1%
Resolute Forest Products Inc1.1%
Empire Co Ltd1.1%
Finning International Inc1.1%
Corby Spirit and Wine Ltd1.1%
Interfor Corp1.1%
Western Forest Products Inc1.1%
Nutrien Ltd1.1%
Guardian Capital Group Ltd1.1%
Centerra Gold Inc1.1%

 

Short Security NameWeight
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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