Accelerate Absolute Return Hedge Fund

Portfolio Protector.

The Accelerate Absolute Return Hedge Fund (TSX:HDGE) 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 Hedge Fund (TSX: HDGE) 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 Hedge 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-Feb-29

1 Month3 MonthsYTD1 Year3 YearsSince Inception
HDGE6.5%9.2%14.2%18.0%21.9%7.9%

Fund Characteristics as of 2024-Feb-29

Long Short
Number of Securities4841
Average Market Cap ($mm)$21,145$1,875
Beta 1.0 1.4
EBITDA/EV12.3%-4.2%
FCF/EV10.6%-9.7%
Trailing Return45.5%-36.4%
Pct of 52 Week High96.1%53.6%
Return on Capital25.8%-11.4%
Gross Profits/Assets7.6%3.7%
50 DMA to 200 DMA117.3%86.3%
EPS Revision-0.9%-4.9%
Change In Shares-3.9%7.1%
Earnings Abnormal Return4.8%-5.8%

Sector Weightings as of 2024-Feb-29

Long Short
Communication Services0.0%-1.2%
Consumer Discretionary18.6%-2.5%
Consumer Staples4.5%0.0%
Energy13.9%-2.4%
Financials16.4%-3.4%
Health Care11.5%-11.8%
Industrials23.5%-7.3%
Information Technology9.4%-13.5%
Materials13.9%-5.7%
Real Estate0.0%-1.2%
Utilities0.0%0.0%
Equity Exposure111.7%-48.9%

Fund Holdings as of 2024-Feb-29

Long Security NameWeight
Williams-Sonoma Inc2.5%
GigaCloud Technology Inc2.5%
Murphy USA Inc2.4%
RCM Technologies Inc2.4%
Encore Wire Corp2.4%
KLA Corp2.4%
Taylor Morrison Home Corp2.4%
Masterbrand Inc2.4%
Cabot Corp2.4%
Bancorp Inc/The2.4%
Victory Capital Holdings Inc2.4%
American Woodmark Corp2.4%
Medpace Holdings Inc2.4%
Insight Enterprises Inc2.4%
HCI Group Inc2.4%
OraSure Technologies Inc2.4%
Scorpio Tankers Inc2.4%
Builders FirstSource Inc2.4%
CES Energy Solutions Corp2.3%
Atkore Inc2.3%
Logitech International SA2.3%
Liberty Energy Inc2.3%
Sylvamo Corp2.3%
Cadre Holdings Inc2.3%
F&G Annuities & Life Inc2.3%
NewMarket Corp2.3%
Griffon Corp2.3%
Ameriprise Financial Inc2.3%
GE HealthCare Technologies Inc2.3%
Booking Holdings Inc2.3%
Danaos Corp2.3%
Teekay Tankers Ltd2.3%
Sherwin-Williams Co/The2.3%
Progressive Corp/The2.3%
Nucor Corp2.3%
Teekay Corp2.3%
Marathon Petroleum Corp2.3%
Grand Canyon Education Inc2.3%
Loblaw Cos Ltd2.3%
CRH PLC2.3%
Radian Group Inc2.3%
Cardinal Health Inc2.2%
Coca-Cola Consolidated Inc2.2%
Qualys Inc2.2%
OReilly Automotive Inc2.2%
McKesson Corp2.2%
Owens Corning2.2%
Expedia Group Inc2.0%

 

Short Security NameWeight
MicroStrategy Inc-1.5%
indie Semiconductor Inc-1.3%
Americas Car-Mart Inc/TX-1.3%
CEVA Inc-1.3%
Ameresco Inc-1.3%
Mercury Systems Inc-1.2%
AbCellera Biologics Inc-1.2%
Novagold Resources Inc-1.2%
Planet Labs PBC-1.2%
Adaptive Biotechnologies Corp-1.2%
SolarEdge Technologies Inc-1.2%
Clean Energy Fuels Corp-1.2%
Kennedy-Wilson Holdings Inc-1.2%
QuantumScape Corp-1.2%
MaxLinear Inc-1.2%
Novocure Ltd-1.2%
JetBlue Airways Corp-1.2%
ADTRAN Holdings Inc-1.2%
LivePerson Inc-1.2%
Ballard Power Systems Inc-1.2%
Pacific Biosciences of California Inc-1.2%
Kornit Digital Ltd-1.2%
STAAR Surgical Co-1.2%
Methode Electronics Inc-1.2%
Green Dot Corp-1.2%
Health Catalyst Inc-1.2%
NextDecade Corp-1.2%
BioLife Solutions Inc-1.2%
ARMOUR Residential REIT Inc-1.2%
Ambarella Inc-1.2%
Calix Inc-1.2%
Liberty Broadband Corp-1.2%
Tandem Diabetes Care Inc-1.2%
Model N Inc-1.1%
Alcoa Corp-1.1%
Silk Road Medical Inc-1.1%
Nevro Corp-1.1%
Compass Minerals International Inc-1.1%
MAG Silver Corp-1.1%
Seabridge Gold Inc-1.1%
Bridge Investment Group Holdings Inc-1.1%
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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.