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

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-Nov-30

1 Month3 MonthsYTD1 Year3 YearsSince Inception
ATSX3.1%5.0%0.9%8.2%8.1%8.8%

Overlay Fund Characteristics as of 2022-Nov-30

Long Short
Number of Securities4646
Average Market Cap ($mm)$16,202$10,036
Beta1.1 1.2
EBITDA/EV20.4%6.4%
FCF/EV11.6%-3.1%
Trailing Return4.5%-37.4%
Pct of 52 Week High85.0%63.6%
Return on Capital24.0%2.3%
Gross Profits/Assets8.0%2.5%
50 DMA to 200 DMA100%84.6%
EPS Revision-6.3%-6.7%
Change In Shares-3.9%1.3%
Earnings Abnormal Return0.4%1.4%

Sector Weightings as of 2022-Nov-30

Long Short
Communication Services1.1%-1.0%
Consumer Discretionary9.8%-2.2%
Consumer Staples6.3%-2.1%
Energy9.5%-3.1%
Financials3.2%-3.2%
Health Care0.0%-1.0%
Industrials6.5%-8.3%
Information Technology2.2%-7.6%
Materials11.3%-10.5%
Real Estate0.0%-7.2%
Utilities0.0%-1.7%
Overlay Equity Exposure49.9%-47.9%
S&P/TSX60 Index Exposure101.4%0.0%
TOTAL PORTFOLIO EXPOSURE151.3%-47.9%

Fund Holdings as of 2022-Nov-30

Long Security NameWeight
S&P / TSX 60 Index Futures98.6%
IShares S&P TSX 60 Index ETF2.8%
Torex Gold Resources Inc1.2%
Lundin Gold Inc1.2%
Stella-Jones Inc1.2%
Linamar Corp1.2%
Canfor Corp1.2%
Interfor Corp1.2%
TFI International Inc1.1%
West Fraser Timber Co Ltd1.1%
Finning International Inc1.1%
Mullen Group Ltd1.1%
Aritzia Inc1.1%
Sleep Country Canada Holdings1.1%
Celestica Inc1.1%
Quebecor Inc1.1%
Birchcliff Energy Ltd1.1%
Metro Inc/CN1.1%
Gildan Activewear Inc1.1%
CGI Inc1.1%
Canadian National Railway Co1.1%
Alimentation Couche-Tard Inc1.1%
Element Fleet Management Corp1.1%
Spin Master Corp1.1%
Parex Resources Inc1.1%
Uni-Select Inc1.1%
Suncor Energy Inc1.1%
Teck Resources Ltd1.1%
Canadian Natural Resources Ltd1.1%
Intact Financial Corp1.1%
North West Co Inc/The1.1%
Nutrien Ltd1.1%
Enerplus Corp1.1%
Canadian Tire Corp Ltd1.1%
Stelco Holdings Inc1.1%
George Weston Ltd1.1%
Dollarama Inc1.0%
Restaurant Brands Internationational Inc1.0%
ARC Resources Ltd1.0%
Toromont Industries Ltd1.0%
Baytex Energy Corp1.0%
CCL Industries Inc1.0%
NuVista Energy Ltd1.0%
iA Financial Corp Inc1.0%
Empire Co Ltd1.0%
Russel Metals Inc1.0%
International Petroleum Corp1.0%
Loblaw Cos Ltd1.0%

 

Short Security NameWeight
CAE Inc-1.2%
Ballard Power Systems Inc-1.2%
Shopify Inc-1.1%
Docebo Inc-1.1%
Park Lawn Corp-1.1%
Ceridian HCM Holding Inc-1.1%
Osisko Mining Inc-1.1%
Lightspeed Commerce Inc-1.1%
Ensign Energy Services Inc-1.1%
Fortuna Silver Mines Inc-1.1%
Canadian Western Bank-1.1%
SilverCrest Metals Inc-1.1%
DREAM Unlimited Corp-1.1%
Canada Goose Holdings Inc-1.1%
Brookfield Asset Management Inc-1.1%
Equinox Gold Corp-1.1%
Altus Group Ltd/Canada-1.1%
Canaccord Genuity Group Inc-1.1%
Maple Leaf Foods Inc-1.1%
Nuvei Corp-1.0%
Novagold Resources Inc-1.0%
Eldorado Gold Corp-1.0%
InterRent Real Estate Investment Trust-1.0%
TC Energy Corp-1.0%
Aimia Inc-1.0%
Open Text Corp-1.0%
Osisko Gold Royalties Ltd-1.0%
Innergex Renewable Energy Inc-1.0%
Aecon Group Inc-1.0%
SNC-Lavalin Group Inc-1.0%
Enghouse Systems Ltd-1.0%
Maxar Technologies Inc-1.0%
Canadian Apartment Properties-1.0%
MAG Silver Corp-1.0%
Premium Brands Holdings Corp-1.0%
Chartwell Retirement Residence-1.0%
Killam Apartment Real Estate Investment Trust-1.0%
Hardwoods Distribution Inc-1.0%
Seabridge Gold Inc-1.0%
Pan American Silver Corp-1.0%
Keyera Corp-1.0%
NorthWest Healthcare Properties-1.0%
Allied Properties Real Estate Investment Trust-1.0%
Canadian Pacific Railway Ltd-1.0%
WSP Global Inc-0.9%
Algonquin Power & Utilities Co-0.7%
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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.