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:
$0.42 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 2021-Dec-31

1 Month3 MonthsYTD1 Year3 YearsSince Inception
ATSX7.3%9.4%27.9%27.9%n/a11.7%

Overlay Fund Characteristics as of 2021-Dec-31

Long Short
Number of Securities4343
Average Market Cap ($mm)$8,833$8,323
Beta1.3 1.1
EBITDA/EV22.1%3.8%
FCF/EV11.4%-1.4%
Trailing Return73.3%-5.4%
Pct of 52 Week High92.0%73.4%
Return on Capital20.4%0.8%
Gross Profits/Assets8.8%1.7%
50 DMA to 200 DMA112%95.5%
EPS Revision0.4%-0.3%
Change In Shares0.0%6.8%
Earnings Abnormal Return2.9%-1.0%

Sector Weightings as of 2021-Dec-31

Long Short
Communication Services0.0%-1.1%
Consumer Discretionary8.6%-2.2%
Consumer Staples4.6%-2.2%
Energy11.2%-3.1%
Financials4.5%-1.0%
Health Care1.3%-2.2%
Industrials10.4%-9.7%
Information Technology2.4%-5.2%
Materials7.6%-9.3%
Real Estate0.0%-2.2%
Utilities1.2%-7.9%
Overlay Equity Exposure51.6%-46.1%
S&P/TSX60 Index Exposure100.2%0.0%
TOTAL PORTFOLIO EXPOSURE151.9%-46.1%

Fund Holdings as of 2021-Dec-31

Long Security NameWeight
S&P / TSX 60 Index Futures91.5%
IShares S&P TSX 60 Index ETF8.7%
Frontera Energy Corp1.6%
Resolute Forest Products Inc1.4%
AutoCanada Inc1.4%
Champion Iron Ltd1.3%
Paramount Resources Ltd1.3%
Interfor Corp1.3%
Spin Master Corp1.3%
Parex Resources Inc1.3%
Medical Facilities Corp1.3%
BRP Inc1.3%
Baytex Energy Corp1.2%
West Fraser Timber Co Ltd1.2%
Canfor Corp1.2%
Stelco Holdings Inc1.2%
Hardwoods Distribution Inc1.2%
Celestica Inc1.2%
Canaccord Genuity Group Inc1.2%
Uni-Select Inc1.2%
Empire Co Ltd1.2%
Sleep Country Canada Holdings1.2%
Suncor Energy Inc1.2%
Aritzia Inc1.2%
Loblaw Cos Ltd1.2%
TFI International Inc1.2%
TransAlta Corp1.2%
Evertz Technologies Ltd1.2%
TransGlobe Energy Corp1.2%
George Weston Ltd1.2%
Canadian Natural Resources Ltd1.2%
Gildan Activewear Inc1.2%
Wajax Corp1.2%
Westshore Terminals Investment Corp1.2%
Bird Construction Inc1.2%
Stantec Inc1.1%
ATS Automation Tooling Systems1.1%
MEG Energy Corp1.1%
Birchcliff Energy Ltd1.1%
Finning International Inc1.1%
Russel Metals Inc1.1%
CI Financial Corp1.1%
North West Co Inc/The1.1%
Bank of Montreal1.1%
Guardian Capital Group Ltd1.0%

 

Short Security NameWeight
Polaris Infrastructure Inc-1.2%
Algonquin Power & Utilities Co-1.2%
Innergex Renewable Energy Inc-1.2%
TransAlta Renewables Inc-1.2%
SunOpta Inc-1.2%
Sierra Wireless Inc-1.1%
Doman Building Materials Group Ltd-1.1%
Maxar Technologies Inc-1.1%
CAE Inc-1.1%
Brookfield Renewable Partners-1.1%
Badger Infrastructure Solution-1.1%
Osisko Gold Royalties Ltd-1.1%
Chartwell Retirement Residence-1.1%
Eldorado Gold Corp-1.1%
Emera Inc-1.1%
Inovalis Real Estate Investment Trust-1.1%
Sienna Senior Living Inc-1.1%
Aimia Inc-1.1%
Restaurant Brands International-1.1%
SilverCrest Metals Inc-1.1%
Martinrea International Inc-1.1%
MAG Silver Corp-1.1%
Ballard Power Systems Inc-1.1%
Voyager Digital Ltd-1.1%
Boralex Inc-1.1%
Cargojet Inc-1.1%
Killam Apartment Real Estate Investment Trust-1.1%
Gibson Energy Inc-1.0%
TC Energy Corp-1.0%
Ceridian HCM Holding Inc-1.0%
LifeWorks Inc-1.0%
Air Canada-1.0%
Enbridge Inc-1.0%
Ag Growth International Inc-1.0%
Laurentian Bank of Canada-1.0%
Osisko Mining Inc-1.0%
Saputo Inc-1.0%
Quarterhill Inc-1.0%
Seabridge Gold Inc-1.0%
Novagold Resources Inc-1.0%
Gatos Silver Inc-1.0%
Lightspeed Commerce Inc-1.0%
Orla Mining Ltd-0.9%
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