About the Fund
The Accelerate Absolute Return Hedge Fund (TSX: HDGE) is a diversified, liquid, and performance-oriented long-short equity hedge fund that seeks to achieve long-term capital appreciation and a superior risk-adjusted return relative to the broader U.S. equity market.
Investment Objectives
- Target 10-15% annualized returns
- Generate positive returns irrespective of market direction
- Hedge downside risk
- Manage volatility
- Provide uncorrelated returns
HDGE TRADING DATA
NAV:
$16.2156
Date:
2021-04-09
QUICK FACTS
Type:
Long-short equity
Structure:
Alternative ETF
Date Started:
May 10, 2019
Management Fee:
0.00%
Performance Fee:
20% of outperformance over high water mark
Investment Manager:
Accelerate Financial Technologies Inc.
Distribution:
$0.10 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Historical Track Record
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2021-Mar-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | 4.7% | 3.5% | 3.5% | 1.9% | n/a | -10.0% |
Fund Characteristics as of 2021-Mar-31
| Long | Short | |
|---|---|---|
| Number of Securities | 46 | 44 |
| Average Market Cap ($mm) | $59,731 | $2,738 |
| Beta | 1.1 | 1.4 |
| EBITDA/EV | 11.9% | -2.3% |
| FCF/EV | 8.2% | -6.9% |
| Trailing Return | 192.0% | 98.6% |
| Pct of 52 Week High | 90.2% | 76.4% |
| Return on Capital | 20.1% | -18.2% |
| Gross Profits/Assets | 8.8% | 2.4% |
| 50 DMA to 200 DMA | 119.7% | 119.7% |
| EPS Revision | 3.1% | -2.1% |
| Change In Shares | -1.0% | 8.1% |
| Earnings Abnormal Return | 1.3% | -2.2% |
Sector Weightings as of 2021-Mar-31
| Long | Short | |
|---|---|---|
| Communication Services | 9.1% | -1.1% |
| Consumer Discretionary | 14.5% | -4.8% |
| Consumer Staples | 12.3% | -1.1% |
| Energy | 4.6% | -4.8% |
| Financials | 13.6% | -5.3% |
| Health Care | 4.8% | -6.0% |
| Industrials | 21.6% | -6.7% |
| Information Technology | 13.8% | -6.1% |
| Materials | 13.9% | -6.7% |
| Real Estate | 0.0% | 0.0% |
| Utilities | 0.0% | 0.0% |
| Equity Exposure | 108.2% | -42.7% |
Fund Holdings as of 2021-Mar-31
| Long Security Name | Weight | |
|---|---|---|
| BRP Inc | 2.8% | |
| Hardwoods Distribution Inc | 2.6% | |
| Sprouts Farmers Market Inc | 2.6% | |
| Full House Resorts Inc | 2.5% | |
| Old Dominion Freight Line Inc | 2.5% | |
| Fortune Brands Home & Security | 2.5% | |
| Empire Co Ltd | 2.5% | |
| DR Horton Inc | 2.5% | |
| Loblaw Cos Ltd | 2.5% | |
| Boise Cascade Co | 2.5% | |
| Viemed Healthcare Inc | 2.5% | |
| Masco Corp | 2.4% | |
| Applied Materials Inc | 2.4% | |
| Procter & Gamble Co/The | 2.4% | |
| Carlisle Cos Inc | 2.4% | |
| Illinois Tool Works Inc | 2.4% | |
| CI Financial Corp | 2.4% | |
| Interfor Corp | 2.4% | |
| Moodys Corp | 2.4% | |
| Reliance Steel & Aluminum Co | 2.4% | |
| Euronav NV | 2.4% | |
| Sciplay Corp | 2.4% | |
| Pretium Resources Inc | 2.4% | |
| Sirius XM Holdings Inc | 2.4% | |
| Cerner Corp | 2.4% | |
| Microsoft Corp | 2.3% | |
| Commercial Metals Co | 2.3% | |
| Photon Control Inc | 2.3% | |
| Dundee Precious Metals Inc | 2.3% | |
| Pzena Investment Management In | 2.3% | |
| Quebecor Inc | 2.3% | |
| Gentex Corp | 2.3% | |
| Alimentation Couche-Tard Inc | 2.3% | |
| Linamar Corp | 2.3% | |
| Cambium Networks Corp | 2.3% | |
| T Rowe Price Group Inc | 2.3% | |
| Donnelley Financial Solutions | 2.2% | |
| Parex Resources Inc | 2.2% | |
| Quarterhill Inc | 2.2% | |
| Teradyne Inc | 2.2% | |
| Taiga Building Products Ltd | 2.1% | |
| Helen of Troy Ltd | 2.1% | |
| Cascades Inc | 2.1% | |
| AcuityAds Holdings Inc | 2.0% | |
| Primoris Services Corp | 2.0% | |
| Manning & Napier Inc | 2.0% |
| Short Security Name | Weight | |
|---|---|---|
| Heritage Commerce Corp | -1.2% | |
| Limelight Networks Inc | -1.2% | |
| Coty Inc | -1.1% | |
| Anterix Inc | -1.1% | |
| Compugen Ltd | -1.1% | |
| eHealth Inc | -1.1% | |
| SilverCrest Metals Inc | -1.1% | |
| United Airlines Holdings Inc | -1.1% | |
| Novagold Resources Inc | -1.1% | |
| Red Robin Gourmet Burgers Inc | -1.1% | |
| Spirit Airlines Inc | -1.1% | |
| Osisko Mining Inc | -1.0% | |
| PDF Solutions Inc | -1.0% | |
| Chimera Investment Corp | -1.0% | |
| Vapotherm Inc | -1.0% | |
| GreenSky Inc | -1.0% | |
| ARMOUR Residential REIT Inc | -1.0% | |
| Misonix Inc | -1.0% | |
| Paysign Inc | -1.0% | |
| ViewRay Inc | -1.0% | |
| Dave & Busters Entertainment | -1.0% | |
| Guardant Health Inc | -1.0% | |
| Digimarc Corp | -1.0% | |
| Playa Hotels & Resorts NV | -1.0% | |
| Ready Capital Corp | -1.0% | |
| Delta Air Lines Inc | -0.9% | |
| Hawaiian Holdings Inc | -0.9% | |
| Spirit AeroSystems Holdings In | -0.9% | |
| Mammoth Energy Services Inc | -0.9% | |
| MAG Silver Corp | -0.9% | |
| OneSpaWorld Holdings Ltd | -0.9% | |
| SP Plus Corp | -0.9% | |
| Quotient Ltd | -0.9% | |
| Ramaco Resources Inc | -0.9% | |
| PROS Holdings Inc | -0.9% | |
| Arco Platform Ltd | -0.9% | |
| Carpenter Technology Corp | -0.9% | |
| Peabody Energy Corp | -0.8% | |
| Tidewater Inc | -0.8% | |
| Viad Corp | -0.8% | |
| Evolution Petroleum Corp | -0.8% | |
| Contango Oil & Gas Co | -0.8% | |
| Flotek Industries Inc | -0.7% | |
| NexTier Oilfield Solutions Inc | -0.7% | |
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