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:
$15.5835
Date:
2021-06-17
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:
$0.10 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Historical Track Record
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2021-May-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | 5.4% | 7.5% | 9.1% | 3.3% | n/a | -7.3% |
Fund Characteristics as of 2021-May-31
| Long | Short | |
|---|---|---|
| Number of Securities | 47 | 43 |
| Average Market Cap ($mm) | $51,188 | $2,568 |
| Beta | 1.2 | 1.2 |
| EBITDA/EV | 13.5% | -3.0% |
| FCF/EV | 10.5% | -7.3% |
| Trailing Return | 183.0% | 33.0% |
| Pct of 52 Week High | 91.3% | 73.0% |
| Return on Capital | 23.3% | -17.1% |
| Gross Profits/Assets | 8.7% | 2.5% |
| 50 DMA to 200 DMA | 127.9% | 101.2% |
| EPS Revision | 11.9% | 3.9% |
| Change In Shares | 1.4% | 13.2% |
| Earnings Abnormal Return | 1.2% | 0.0% |
Sector Weightings as of 2021-May-31
| Long | Short | |
|---|---|---|
| Communication Services | 9.3% | -0.9% |
| Consumer Discretionary | 17.4% | -3.7% |
| Consumer Staples | 4.5% | -0.9% |
| Energy | 9.3% | -4.9% |
| Financials | 15.4% | -0.9% |
| Health Care | 1.7% | -8.5% |
| Industrials | 16.0% | -4.0% |
| Information Technology | 12.4% | -6.9% |
| Materials | 14.6% | -6.8% |
| Real Estate | 0.0% | -1.0% |
| Utilities | 0.0% | -2.1% |
| Equity Exposure | 100.6% | -40.5% |
Fund Holdings as of 2021-May-31
| Long Security Name | Weight | |
|---|---|---|
| Cambium Networks Corp | 3.2% | |
| Helen of Troy Ltd | 2.8% | |
| DR Horton Inc | 2.7% | |
| Hardwoods Distribution Inc | 2.6% | |
| AcuityAds Holdings Inc | 2.5% | |
| IBI Group Inc | 2.5% | |
| Microsoft Corp | 2.5% | |
| Sirius XM Holdings Inc | 2.5% | |
| Lithia Motors Inc | 2.5% | |
| Cascades Inc | 2.4% | |
| T Rowe Price Group Inc | 2.4% | |
| Avino Silver & Gold Mines Ltd | 2.4% | |
| Cerner Corp | 2.4% | |
| Sciplay Corp | 2.4% | |
| Masco Corp | 2.4% | |
| Quarterhill Inc | 2.3% | |
| Fortune Brands Home & Security | 2.3% | |
| HomeStreet Inc | 2.3% | |
| Empire Co Ltd | 2.3% | |
| BRP Inc | 2.3% | |
| Applied Materials Inc | 2.3% | |
| Moodys Corp | 2.3% | |
| Parex Resources Inc | 2.3% | |
| Donnelley Financial Solutions | 2.3% | |
| Ameriprise Financial Inc | 2.3% | |
| CI Financial Corp | 2.3% | |
| Loblaw Cos Ltd | 2.3% | |
| Old Dominion Freight Line Inc | 2.3% | |
| Quebecor Inc | 2.3% | |
| Boise Cascade Co | 2.3% | |
| Northland Power Inc | 2.3% | |
| Carlisle Cos Inc | 2.2% | |
| Lifevantage Corp | 2.2% | |
| Illinois Tool Works Inc | 2.2% | |
| Procter & Gamble Co/The | 2.2% | |
| Alimentation Couche-Tard Inc | 2.2% | |
| Commercial Metals Co | 2.2% | |
| FMC Corp | 2.2% | |
| Simpson Manufacturing Co Inc | 2.2% | |
| Gentex Corp | 2.1% | |
| Dundee Precious Metals Inc | 2.1% | |
| Reliance Steel & Aluminum Co | 2.1% | |
| Deckers Outdoor Corp | 2.1% | |
| Torex Gold Resources Inc | 2.1% | |
| Real Matters Inc | 2.0% | |
| Teradyne Inc | 2.0% | |
| Short Security Name | Weight | |
|---|---|---|
| VirnetX Holding Corp | -1.2% | |
| Apyx Medical Corp | -1.2% | |
| Red Robin Gourmet Burgers Inc | -1.2% | |
| Sientra Inc | -1.1% | |
| Flotek Industries Inc | -1.1% | |
| Spirit Airlines Inc | -1.0% | |
| Misonix Inc | -1.0% | |
| Howard Hughes Corp/The | -1.0% | |
| Dave & Busters Entertainment | -1.0% | |
| Trilogy Metals Inc | -1.0% | |
| LiveXLive Media Inc | -1.0% | |
| Hawaiian Holdings Inc | -1.0% | |
| OneSpaWorld Holdings Ltd | -1.0% | |
| Chimera Investment Corp | -1.0% | |
| Delek US Holdings Inc | -1.0% | |
| SP Plus Corp | -1.0% | |
| Redwood Trust Inc | -1.0% | |
| Zuora Inc | -1.0% | |
| Paysign Inc | -1.0% | |
| Park Hotels & Resorts Inc | -1.0% | |
| Viad Corp | -1.0% | |
| Eventbrite Inc | -1.0% | |
| Ready Capital Corp | -1.0% | |
| Western Asset Mortgage Capital | -0.9% | |
| Carrols Restaurant Group Inc | -0.9% | |
| Delta Air Lines Inc | -0.9% | |
| Teck Resources Ltd | -0.9% | |
| Playa Hotels & Resorts NV | -0.9% | |
| Norwegian Cruise Line Holdings | -0.9% | |
| United Airlines Holdings Inc | -0.9% | |
| Coty Inc | -0.9% | |
| SilverCrest Metals Inc | -0.9% | |
| Contango Oil & Gas Co | -0.9% | |
| Cimarex Energy Co | -0.9% | |
| Ramaco Resources Inc | -0.9% | |
| Heritage Commerce Corp | -0.9% | |
| Lyft Inc | -0.9% | |
| Osisko Mining Inc | -0.9% | |
| Air Canada | -0.9% | |
| Tidewater Inc | -0.9% | |
| Ambac Financial Group Inc | -0.9% | |
| NexTier Oilfield Solutions Inc | -0.9% | |
| Spirit AeroSystems Holdings In | -0.8% | |
| Eagle Bulk Shipping Inc | -0.8% | |
| ViewRay Inc | -0.8% | |
| Digimarc Corp | -0.8% | |
| eHealth Inc | -0.7% |
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