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
Accelerate Absolute Return Hedge Fund Explained:
HDGE TRADING DATA
NAV:
Date:
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:
$0.10 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Track Record
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2023-Feb-28
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | 5.2% | -1.4% | 0.8% | 10.6% | 14.1% | 4.3% |
Fund Characteristics as of 2023-Feb-28
| Long | Short | |
|---|---|---|
| Number of Securities | 46 | 46 |
| Average Market Cap ($mm) | $9,882 | $3,245 |
| Beta | 1.1 | 1.6 |
| EBITDA/EV | 19.1% | -8.3% |
| FCF/EV | 8.6% | -7.3% |
| Trailing Return | 25.4% | -47.0% |
| Pct of 52 Week High | 88.9% | 49.0% |
| Return on Capital | 29.9% | -19.8% |
| Gross Profits/Assets | 9.8% | 4.8% |
| 50 DMA to 200 DMA | 107.3% | 86.4% |
| EPS Revision | -3.5% | -2.7% |
| Change In Shares | -5.4% | 5.7% |
| Earnings Abnormal Return | 2.0% | -0.8% |
Sector Weightings as of 2023-Feb-28
| Long | Short | |
|---|---|---|
| Communication Services | 6.8% | -3.5% |
| Consumer Discretionary | 19.0% | -4.2% |
| Consumer Staples | 7.2% | 0.0% |
| Energy | 18.7% | 0.0% |
| Financials | 9.3% | -4.1% |
| Health Care | 4.7% | -10.0% |
| Industrials | 16.1% | -4.5% |
| Information Technology | 9.7% | -13.3% |
| Materials | 13.9% | -0.9% |
| Real Estate | 2.4% | -1.8% |
| Utilities | 0.0% | 0.0% |
| Equity Exposure | 107.8% | -42.3% |
Fund Holdings as of 2023-Feb-28
| Long Security Name | Weight | |
|---|---|---|
| Russel Metals Inc | 2.6% | |
| Axcelis Technologies Inc | 2.5% | |
| MasterCraft Boat Holdings Inc | 2.5% | |
| CTS Corp | 2.5% | |
| Murphy USA Inc | 2.5% | |
| Crescent Energy Co | 2.4% | |
| CES Energy Solutions Corp | 2.4% | |
| International Petroleum Corp | 2.4% | |
| George Weston Ltd | 2.4% | |
| Loblaw Cos Ltd | 2.4% | |
| NuVista Energy Ltd | 2.4% | |
| CF Industries Holdings Inc | 2.4% | |
| ARC Resources Ltd | 2.4% | |
| PowerSchool Holdings Inc | 2.4% | |
| Grand Canyon Education Inc | 2.4% | |
| Choice Properties Real Estate | 2.4% | |
| Uni-Select Inc | 2.4% | |
| AutoNation Inc | 2.4% | |
| Group 1 Automotive Inc | 2.4% | |
| Intact Financial Corp | 2.3% | |
| European Wax Center Inc | 2.3% | |
| Sprouts Farmers Market Inc | 2.3% | |
| Cardinal Health Inc | 2.3% | |
| HP Inc | 2.3% | |
| Jackson Financial Inc | 2.3% | |
| ZipRecruiter Inc | 2.3% | |
| Nucor Corp | 2.3% | |
| Advantage Energy Ltd | 2.3% | |
| McKesson Corp | 2.3% | |
| Mullen Group Ltd | 2.3% | |
| Steel Dynamics Inc | 2.3% | |
| Principal Financial Group Inc | 2.3% | |
| Reliance Steel & Aluminum Co | 2.3% | |
| Commercial Metals Co | 2.3% | |
| Donnelley Financial Solutions | 2.3% | |
| Atkore Inc | 2.3% | |
| Stagwell Inc | 2.3% | |
| West Fraser Timber Co Ltd | 2.3% | |
| Encore Wire Corp | 2.3% | |
| Tamarack Valley Energy Ltd | 2.3% | |
| Mueller Industries Inc | 2.2% | |
| Dillards Inc | 2.2% | |
| Covenant Logistics Group Inc | 2.2% | |
| Hudson Technologies Inc | 2.2% | |
| Sirius XM Holdings Inc | 2.2% | |
| CONSOL Energy Inc | 2.0% |
| Short Security Name | Weight | |
|---|---|---|
| Oscar Health Inc | -1.3% | |
| Kyndryl Holdings Inc | -1.2% | |
| Unity Software Inc | -1.0% | |
| Certara Inc | -1.0% | |
| SiTime Corp | -1.0% | |
| DoorDash Inc | -1.0% | |
| Xometry Inc | -1.0% | |
| Telos Corp | -0.9% | |
| Sumo Logic Inc | -0.9% | |
| SilverCrest Metals Inc | -0.9% | |
| Amplitude Inc | -0.9% | |
| Broadmark Realty Capital Inc | -0.9% | |
| Compass Inc | -0.9% | |
| Castle Biosciences Inc | -0.9% | |
| Radius Global Infrastructure I | -0.9% | |
| Outset Medical Inc | -0.9% | |
| SentinelOne Inc | -0.9% | |
| Signature Bank/New York NY | -0.9% | |
| Grab Holdings Ltd | -0.9% | |
| CareMax Inc | -0.9% | |
| Health Catalyst Inc | -0.9% | |
| AvidXchange Holdings Inc | -0.9% | |
| Hyliion Holdings Corp | -0.9% | |
| Paysafe Ltd | -0.9% | |
| IonQ Inc | -0.9% | |
| Archer Aviation Inc | -0.9% | |
| Lightspeed Commerce Inc | -0.9% | |
| NanoString Technologies Inc | -0.9% | |
| American Well Corp | -0.9% | |
| Plug Power Inc | -0.9% | |
| Cue Health Inc | -0.9% | |
| loanDepot Inc | -0.9% | |
| Navitas Semiconductor Corp | -0.9% | |
| SomaLogic Inc | -0.9% | |
| UiPath Inc | -0.9% | |
| Nextdoor Holdings Inc | -0.9% | |
| ROBLOX Corp | -0.9% | |
| SEMrush Holdings Inc | -0.9% | |
| Rush Street Interactive Inc | -0.9% | |
| CryoPort Inc | -0.9% | |
| Proterra Inc | -0.8% | |
| Opendoor Technologies Inc | -0.8% | |
| Invitae Corp | -0.8% | |
| Cardlytics Inc | -0.8% | |
| Purple Innovation Inc | -0.8% | |
| BARK Inc | -0.7% |
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.
