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
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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:
$0.42 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Track Record
Investment Process
In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.
Performance as of 2023-Aug-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | -1.9% | 6.3% | 5.2% | 3.9% | 7.4% | 7.2% |
Overlay Fund Characteristics as of 2023-Aug-31
| Long | Short | |
|---|---|---|
| Number of Securities | 42 | 41 |
| Average Market Cap ($mm) | $13,461 | $6,122 |
| Beta | 1.0 | 1.2 |
| EBITDA/EV | 17.1% | 4.8% |
| FCF/EV | 6.7% | -6.6% |
| Trailing Return | 23.0% | -13.6% |
| Pct of 52 Week High | 89.1% | 70.1% |
| Return on Capital | 18.8% | -4.4% |
| Gross Profits/Assets | 6.0% | 1.9% |
| 50 DMA to 200 DMA | 105% | 94.5% |
| EPS Revision | -0.6% | -0.9% |
| Change In Shares | -1.5% | 7.8% |
| Earnings Abnormal Return | -0.6% | -1.9% |
Sector Weightings as of 2023-Aug-31
| Long | Short | |
|---|---|---|
| Communication Services | 1.1% | -1.1% |
| Consumer Discretionary | 7.1% | -1.2% |
| Consumer Staples | 3.6% | -3.3% |
| Energy | 9.7% | -5.5% |
| Financials | 4.6% | -3.3% |
| Health Care | 0.0% | -1.1% |
| Industrials | 7.1% | -5.4% |
| Information Technology | 4.8% | -2.1% |
| Materials | 10.6% | -12.0% |
| Real Estate | 0.0% | -6.5% |
| Utilities | 1.2% | -3.3% |
| Overlay Equity Exposure | 49.7% | -44.8% |
| S&P/TSX60 Index Exposure | 97.9% | 0.0% |
| TOTAL PORTFOLIO EXPOSURE | 147.6% | -44.8% |
Fund Holdings as of 2023-Aug-31
| Long Security Name | Weight | |
|---|---|---|
| S&P / TSX 60 Index Futures | 94.9% | |
| IShares S&P TSX 60 Index ETF | 3.0% | |
| Topicus.com Inc | 1.3% | |
| Enerplus Corp | 1.2% | |
| Alimentation Couche-Tard Inc | 1.2% | |
| Imperial Oil Ltd | 1.2% | |
| Canadian Natural Resources Ltd | 1.2% | |
| Whitecap Resources Inc | 1.2% | |
| CCL Industries Inc | 1.2% | |
| Russel Metals Inc | 1.2% | |
| ARC Resources Ltd | 1.2% | |
| Boyd Group Services Inc | 1.2% | |
| Stella-Jones Inc | 1.2% | |
| Stantec Inc | 1.2% | |
| Parex Resources Inc | 1.2% | |
| B2Gold Corp | 1.2% | |
| Loblaw Cos Ltd | 1.2% | |
| Celestica Inc | 1.2% | |
| Element Fleet Management Corp | 1.2% | |
| Torex Gold Resources Inc | 1.2% | |
| Lundin Gold Inc | 1.2% | |
| Linamar Corp | 1.2% | |
| Pason Systems Inc | 1.2% | |
| CGI Inc | 1.2% | |
| Dollarama Inc | 1.2% | |
| Open Text Corp | 1.2% | |
| Canadian Tire Corp Ltd | 1.2% | |
| Manulife Financial Corp | 1.2% | |
| Martinrea International Inc | 1.2% | |
| Dundee Precious Metals Inc | 1.2% | |
| Richelieu Hardware Ltd | 1.2% | |
| iA Financial Corp Inc | 1.2% | |
| Secure Energy Services Inc | 1.2% | |
| George Weston Ltd | 1.2% | |
| Sleep Country Canada Holdings | 1.2% | |
| Mullen Group Ltd | 1.2% | |
| Kinross Gold Corp | 1.2% | |
| Orla Mining Ltd | 1.2% | |
| TransAlta Corp | 1.2% | |
| BRP Inc | 1.2% | |
| Finning International Inc | 1.2% | |
| Quebecor Inc | 1.1% | |
| Chemtrade Logistics Income Fund | 1.1% | |
| Fairfax Financial Holdings Ltd | 1.0% |
| Short Security Name | Weight | |
|---|---|---|
| ECN Capital Corp | -1.2% | |
| Aritzia Inc | -1.2% | |
| NFI Group Inc | -1.1% | |
| NexGen Energy Ltd | -1.1% | |
| K92 Mining Inc | -1.1% | |
| Energy Fuels Inc/Canada | -1.1% | |
| Chartwell Retirement Residence | -1.1% | |
| Tamarack Valley Energy Ltd | -1.1% | |
| Pan American Silver Corp | -1.1% | |
| Allied Properties Real Estate Investment Trust | -1.1% | |
| Enerflex Ltd | -1.1% | |
| Algonquin Power & Utilities Co | -1.1% | |
| TC Energy Corp | -1.1% | |
| Novagold Resources Inc | -1.1% | |
| Osisko Mining Inc | -1.1% | |
| RB Global Inc | -1.1% | |
| AltaGas Ltd | -1.1% | |
| Aecon Group Inc | -1.1% | |
| Seabridge Gold Inc | -1.1% | |
| Filo Corp | -1.1% | |
| TELUS Corp | -1.1% | |
| MAG Silver Corp | -1.1% | |
| First Majestic Silver Corp | -1.1% | |
| Jamieson Wellness Inc | -1.1% | |
| Premium Brands Holdings Corp | -1.1% | |
| Innergex Renewable Energy Inc | -1.1% | |
| Canfor Corp | -1.1% | |
| Altus Group Ltd/Canada | -1.1% | |
| Sandstorm Gold Ltd | -1.1% | |
| NorthWest Healthcare Properties REIT | -1.1% | |
| SunOpta Inc | -1.1% | |
| Canadian Western Bank | -1.1% | |
| Tricon Residential Inc | -1.1% | |
| Artis Real Estate Investment Trust | -1.1% | |
| Cargojet Inc | -1.1% | |
| BlackBerry Ltd | -1.1% | |
| InterRent Real Estate Investment Trust | -1.1% | |
| Lightspeed Commerce Inc | -1.1% | |
| Ballard Power Systems Inc | -1.0% | |
| Brookfield Corp | -1.0% | |
| Wesdome Gold Mines Ltd | -1.0% | |
EXPLORE OTHER INVESTMENT SOLUTIONS
DISCLAIMER: This information on this web page does not constitute investment, legal or tax advice. Performance is inclusive of reinvested distributions. 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.
