Accelerate Absolute Return Fund

Portfolio Protector.

The Accelerate Absolute Return Fund (TSX:HDGE, HDGE.U) is a quantitative long-short equity hedge fund that seeks to achieve attractive risk-adjusted returns with low correlation to the broad equity markets.

About the Fund

The Accelerate Absolute Return Fund (TSX: HDGE, HDGE.U) is a quantitative long-short equity hedge fund that seeks to achieve attractive risk-adjusted returns with low correlation to the broad equity markets.

Investment Objectives

  • Target 10-15% annualized returns
  • Generate positive returns irrespective of market direction
  • Hedge downside risk
  • Manage volatility
  • Provide uncorrelated returns

Accelerate Absolute Return Fund Explained:

HDGE TRADING DATA
NAV:
Date:
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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

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:
  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 rebalanced on a monthly basis.

Performance as of 2024-Apr-30

1 Month3 MonthsYTD1 Year3 YearsSince Inception
HDGE-1.4%7.3%15.1%17.1%18.2%7.8%

Fund Characteristics as of 2024-Apr-30

Long Short
Number of Securities4441
Average Market Cap ($mm)$47,951$1,893
Beta1.0 1.4
EBITDA/EV12.4%-6.8%
FCF/EV9.8%-12.9%
Trailing Return72.3%-37.3%
Pct of 52 Week High92.8%48.5%
Return on Capital20.1%-17.0%
Gross Profits/Assets6.9%3.2%
50 DMA to 200 DMA121.5%81.6%
EPS Revision0.9%-2.3%
Change In Shares-5.2%6.5%
Earnings Abnormal Return7.6%-6.8%

Sector Weightings as of 2024-Apr-30

Long Short
Communication Services2.6%-1.1%
Consumer Discretionary19.9%-2.2%
Consumer Staples2.5%0.0%
Energy15.3%-2.4%
Financials20.3%-1.1%
Health Care10.1%-12.0%
Industrials24.5%-7.8%
Information Technology5.0%-11.0%
Materials10.2%-6.8%
Real Estate0.0%-1.0%
Utilities0.0%0.0%
Equity Exposure110.3%-45.5%

Fund Holdings as of 2024-Apr-30

Long Security NameWeight
Cabot Corp2.6%
Liberty Energy Inc2.6%
Definity Financial Corp2.6%
Grand Canyon Education Inc2.6%
CES Energy Solutions Corp2.6%
Vitesse Energy Inc2.6%
Meta Platforms Inc2.6%
Acuity Brands Inc2.6%
Stellantis NV2.6%
Mercury General Corp2.5%
Victory Capital Holdings Inc2.5%
Evercore Inc2.5%
Scorpio Tankers Inc2.5%
Loblaw Cos Ltd2.5%
Murphy USA Inc2.5%
DaVita Inc2.5%
Nucor Corp2.5%
DXP Enterprises Inc/TX2.5%
Cardinal Health Inc2.5%
Ameriprise Financial Inc2.5%
Progressive Corp/The2.5%
Teekay Corp2.5%
NewMarket Corp2.5%
AppLovin Corp2.5%
Bancorp Inc/The2.5%
J Jill Inc2.5%
Medpace Holdings Inc2.5%
CRH PLC2.5%
Marathon Petroleum Corp2.5%
GE HealthCare Technologies Inc2.5%
HCI Group Inc2.5%
Owens Corning2.5%
Converge Technology Solutions2.5%
American Woodmark Corp2.5%
Encore Wire Corp2.5%
Taylor Morrison Home Corp2.4%
Atkore Inc2.4%
Toll Brothers Inc2.4%
Powell Industries Inc2.4%
Williams-Sonoma Inc2.4%
Masterbrand Inc2.4%
Builders FirstSource Inc2.4%
GigaCloud Technology Inc2.4%
Griffon Corp2.4%

 

Short Security NameWeight
NextDecade Corp-1.2%
SolarEdge Technologies Inc-1.2%
Treace Medical Concepts Inc-1.2%
Guardant Health Inc-1.2%
Compass Minerals International-1.2%
Clean Energy Fuels Corp-1.2%
3D Systems Corp-1.2%
BioLife Solutions Inc-1.2%
Fulgent Genetics Inc-1.2%
Alcoa Corp-1.2%
SSR Mining Inc-1.1%
MAG Silver Corp-1.1%
Xometry Inc-1.1%
Ambarella Inc-1.1%
EchoStar Corp-1.1%
Novagold Resources Inc-1.1%
Nevro Corp-1.1%
Bloom Energy Corp-1.1%
Mercury Systems Inc-1.1%
ADTRAN Holdings Inc-1.1%
Green Dot Corp-1.1%
Planet Labs PBC-1.1%
Albemarle Corp-1.1%
CEVA Inc-1.1%
QuantumScape Corp-1.1%
agilon health Inc-1.1%
Viasat Inc-1.1%
MaxLinear Inc-1.1%
Aurora Innovation Inc-1.1%
Ballard Power Systems Inc-1.1%
GoPro Inc-1.1%
Wolfspeed Inc-1.1%
Ameresco Inc-1.1%
Pacific Biosciences of California-1.0%
Matterport Inc-1.0%
Kennedy-Wilson Holdings Inc-1.0%
AbCellera Biologics Inc-1.0%
Novocure Ltd-1.0%
indie Semiconductor Inc-1.0%
Adaptive Biotechnologies Corp-1.0%
Health Catalyst Inc-1.0%
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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.