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: $17.1148
Date: 2020-08-11
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:
$0.10 per Quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Reference Portfolio Performance
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2020-Jul-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | 4.9% | 9.8% | 2.3% | -12.2% | n/a | -8.7% |
Fund Characteristics as of 2020-Jul-31
| Long | Short | |
|---|---|---|
| Number of Securities | 50 | 51 |
| Average Market Cap ($mm) | $49,423 | $1,433 |
| Beta | 1.1 | 1.4 |
| EBITDA/EV | 10.6% | -2.3% |
| FCF/EV | 6.0% | -4.7% |
| Trailing Return | 25.1% | -35.2% |
| Pct of 52 Week High | 89.9% | 61.0% |
| Return on Capital | 16.8% | -14.6% |
| Gross Profits/Assets | 7.8% | 3.3% |
| 50 DMA to 200 DMA | 107.1% | 91.2% |
| EPS Revision | 9.3% | 3.8% |
| Change In Shares | -0.4% | 6.3% |
| Earnings Abnormal Return | 2.0% | 1.1% |
Sector Weightings as of 2020-Jul-31
| Long | Short | |
|---|---|---|
| Communication Services | 4.4% | -1.5% |
| Consumer Discretionary | 18.0% | -7.7% |
| Consumer Staples | 10.9% | -1.3% |
| Energy | 0.0% | -1.9% |
| Financials | 13.1% | -7.1% |
| Health Care | 6.9% | -5.5% |
| Industrials | 18.5% | -6.9% |
| Information Technology | 17.8% | -7.4% |
| Materials | 16.1% | -6.9% |
| Real Estate | 4.4% | -0.8% |
| Utilities | 2.3% | 0.0% |
| Equity Exposure | 112.3% | -47.1% |
Fund Holdings as of 2020-Jul-31
| Long Security Name | Weight | |
|---|---|---|
| Synaptics Inc | 2.6% | |
| Photon Control Inc | 2.6% | |
| Boise Cascade Co | 2.6% | |
| Simpson Manufacturing Co Inc | 2.5% | |
| DR Horton Inc | 2.5% | |
| Universal Technical Institute | 2.4% | |
| Masco Corp | 2.4% | |
| Fortune Brands Home & Security | 2.4% | |
| Well Health Technologies Corp | 2.4% | |
| Copart Inc | 2.4% | |
| Dundee Precious Metals Inc | 2.4% | |
| Bruker Corp | 2.4% | |
| RH | 2.4% | |
| MagnaChip Semiconductor Corp | 2.4% | |
| HomeStreet Inc | 2.3% | |
| Torex Gold Resources Inc | 2.3% | |
| BRP Inc | 2.3% | |
| Real Matters Inc | 2.3% | |
| Deckers Outdoor Corp | 2.3% | |
| T Rowe Price Group Inc | 2.3% | |
| Procter & Gamble Co | 2.3% | |
| Northland Power Inc | 2.3% | |
| Cirrus Logic Inc | 2.3% | |
| Gentex Corp | 2.3% | |
| Empire Co Ltd | 2.2% | |
| Reliance Steel & Aluminum Co | 2.2% | |
| Quebecor Inc | 2.2% | |
| Illinois Tool Works Inc | 2.2% | |
| Applied Materials Inc | 2.2% | |
| CI Financial Corp | 2.2% | |
| Sirius XM Holdings Inc | 2.2% | |
| Old Dominion Freight Line Inc | 2.2% | |
| Alimentation Couche-Tard Inc | 2.2% | |
| Ameriprise Financial Inc | 2.2% | |
| FMC Corp | 2.2% | |
| Carlisle Cos Inc | 2.2% | |
| Cascades Inc | 2.2% | |
| Commercial Metals Co | 2.2% | |
| Loblaw Cos Ltd | 2.2% | |
| Stantec Inc | 2.1% | |
| Moodys Corp | 2.1% | |
| DREAM Unlimited Corp | 2.1% | |
| Cerner Corp | 2.1% | |
| Microsoft Corp | 2.1% | |
| Quarterhill Inc | 2.1% | |
| Lifevantage Corp | 2.0% | |
| Helen of Troy Ltd | 2.0% | |
| SEI Investments Co | 2.0% | |
| Exco Technologies Ltd | 2.0% | |
| Intel Corp | 1.7% |
| Short Security Name | Weight | |
|---|---|---|
| At Home Group Inc | -1.9% | |
| New Age Beverages Corp | -1.3% | |
| Arlo Technologies Inc | -1.3% | |
| Fluidigm Corp | -1.1% | |
| ViewRay Inc | -1.1% | |
| Carrols Restaurant Group Inc | -1.1% | |
| Farfetch Ltd | -1.1% | |
| Tidewater Inc | -1.0% | |
| Century Aluminum Co | -1.0% | |
| New Residential Investment Corp | -1.0% | |
| Cree Inc | -1.0% | |
| Immersion Corp | -1.0% | |
| Ag Growth International Inc | -1.0% | |
| OneSpaWorld Holdings Ltd | -0.9% | |
| PennyMac Mortgage Investment Trust | -0.9% | |
| Trilogy Metals Inc | -0.9% | |
| Graham Corp | -0.9% | |
| International Money Express Inc | -0.9% | |
| Quad/Graphics Inc | -0.9% | |
| Synchronoss Technologies Inc | -0.9% | |
| Playa Hotels & Resorts NV | -0.9% | |
| GoPro Inc | -0.9% | |
| Upwork Inc | -0.9% | |
| Colony Credit Real Estate Inc | -0.9% | |
| OptimizeRx Corp | -0.9% | |
| Lyft Inc | -0.9% | |
| Livent Corp | -0.9% | |
| Ready Capital Corp | -0.9% | |
| James River Group Holdings Ltd | -0.9% | |
| Liquidity Services Inc | -0.9% | |
| Greenlight Capital Re Ltd | -0.9% | |
| Eventbrite Inc | -0.9% | |
| Digimarc Corp | -0.9% | |
| Cimarex Energy Co | -0.9% | |
| United Airlines Holdings Inc | -0.8% | |
| Nexa Resources SA | -0.8% | |
| Stelco Holdings Inc | -0.8% | |
| Bain Capital Specialty Finance | -0.8% | |
| Pacific Biosciences of Califor | -0.8% | |
| United Insurance Holdings Corp | -0.8% | |
| Zuora Inc | -0.8% | |
| Canfor Pulp Products Inc | -0.8% | |
| Apyx Medical Corp | -0.8% | |
| Cleveland-Cliffs Inc | -0.8% | |
EXPLORE OTHER INVESTMENT SOLUTIONS
