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
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:
$0.10 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
DISCLAIMER: This information on this web page does not constitute investment, legal or tax advice. Past performance is not indicative of future results. Any data provided on this web page should not be viewed as a recommendation or solicitation of an offer to buy or sell any securities or investment strategies. The information on this web page is based on market conditions and may fluctuate and change without notice. Accelerate does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this website and any liability is expressly disclaimed.
Track Record
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2022-Jul-29
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | 5.0% | 0.1% | 11.6% | 38.3% | 2.9% | 3.9% |
Fund Characteristics as of 2022-Jul-29
| Long | Short | |
|---|---|---|
| Number of Securities | 48 | 46 |
| Average Market Cap ($mm) | $7,547 | $4,425 |
| Beta | 1.1 | 1.4 |
| EBITDA/EV | 21.7% | -7.2% |
| FCF/EV | 10.1% | -8.4% |
| Trailing Return | 46.4% | -53.8% |
| Pct of 52 Week High | 74.2% | 36.2% |
| Return on Capital | 27.9% | -13.8% |
| Gross Profits/Assets | 10.2% | 3.5% |
| 50 DMA to 200 DMA | 105.1% | 66.5% |
| EPS Revision | 0.8% | 0.9% |
| Change In Shares | -3.6% | 7.7% |
| Earnings Abnormal Return | 2.9% | -3.3% |
Sector Weightings as of 2022-Jul-29
| Long | Short | |
|---|---|---|
| Communication Services | 2.3% | -3.1% |
| Consumer Discretionary | 20.8% | -6.0% |
| Consumer Staples | 6.9% | -2.0% |
| Energy | 20.6% | -1.0% |
| Financials | 9.2% | -3.0% |
| Health Care | 2.3% | -11.2% |
| Industrials | 20.6% | -4.9% |
| Information Technology | 4.6% | -11.9% |
| Materials | 20.1% | -0.7% |
| Real Estate | 2.3% | -1.0% |
| Utilities | 0.0% | 0.0% |
| Equity Exposure | 109.7% | -44.7% |
Fund Holdings as of 2022-Jul-29
| Long Security Name | Weight | |
|---|---|---|
| Group 1 Automotive Inc | 2.5% | |
| Credit Acceptance Corp | 2.3% | |
| Coca-Cola Consolidated Inc | 2.3% | |
| Landsea Homes Corp | 2.3% | |
| Encore Wire Corp | 2.3% | |
| AutoNation Inc | 2.3% | |
| SilverBow Resources Inc | 2.3% | |
| Interfor Corp | 2.3% | |
| Louisiana-Pacific Corp | 2.3% | |
| Hardwoods Distribution Inc | 2.3% | |
| Russel Metals Inc | 2.3% | |
| Encore Capital Group Inc | 2.3% | |
| Patria Investments Ltd | 2.3% | |
| Nucor Corp | 2.3% | |
| Bombardier Inc | 2.3% | |
| Build-A-Bear Workshop Inc | 2.3% | |
| Danaos Corp | 2.3% | |
| FirstService Corp | 2.3% | |
| Thomson Reuters Corp | 2.3% | |
| H&R Block Inc | 2.3% | |
| Civeo Corp | 2.3% | |
| Ermenegildo Zegna Holditalia SpA | 2.3% | |
| Hudson Technologies Inc | 2.3% | |
| CF Industries Holdings Inc | 2.3% | |
| HP Inc | 2.3% | |
| George Weston Ltd | 2.3% | |
| Loblaw Cos Ltd | 2.3% | |
| Marathon Oil Corp | 2.3% | |
| Dollarama Inc | 2.3% | |
| Uni-Select Inc | 2.3% | |
| DHI Group Inc | 2.3% | |
| Ensign Energy Services Inc | 2.3% | |
| Parex Resources Inc | 2.3% | |
| APA Corp | 2.3% | |
| Crescent Point Energy Corp | 2.3% | |
| TETRA Technologies Inc | 2.3% | |
| Steel Dynamics Inc | 2.3% | |
| Medical Facilities Corp | 2.3% | |
| Baytex Energy Corp | 2.3% | |
| A-Mark Precious Metals Inc | 2.3% | |
| LSB Industries Inc | 2.3% | |
| ZIM Integrated Shipping Services Ltd | 2.3% | |
| Obsidian Energy Ltd | 2.3% | |
| CTS Corp | 2.3% | |
| Reliance Steel & Aluminum Co | 2.3% | |
| Murphy USA Inc | 2.2% | |
| Warrior Met Coal Inc | 2.2% | |
| West Fraser Timber Co Ltd | 1.9% |
| Short Security Name | Weight | |
|---|---|---|
| Apollo Global Management Inc | -1.1% | |
| Anterix Inc | -1.1% | |
| 908 Devices Inc | -1.0% | |
| Mission Produce Inc | -1.0% | |
| Oak Street Health Inc | -1.0% | |
| Nextdoor Holdings Inc | -1.0% | |
| Vertiv Holdings Co | -1.0% | |
| Vivint Smart Home Inc | -1.0% | |
| Palantir Technologies Inc | -1.0% | |
| Genius Sports Ltd | -1.0% | |
| TuSimple Holdings Inc | -1.0% | |
| BigCommerce Holdings Inc | -1.0% | |
| Lightspeed Commerce Inc | -1.0% | |
| Stem Inc | -1.0% | |
| AMMO Inc | -1.0% | |
| Clover Health Investments Corp | -1.0% | |
| American Well Corp | -1.0% | |
| XP Inc | -1.0% | |
| ON24 Inc | -1.0% | |
| Agilon Health Inc | -1.0% | |
| Aveanna Healthcare Holdings Inc | -1.0% | |
| Ondas Holdings Inc | -1.0% | |
| Stellantis NV | -1.0% | |
| UiPath Inc | -1.0% | |
| DraftKings Inc | -1.0% | |
| Bill.com Holdings Inc | -1.0% | |
| Full House Resorts Inc | -1.0% | |
| Schrodinger Inc/United States | -1.0% | |
| Alkami Technology Inc | -1.0% | |
| Reynolds Consumer Products Inc | -1.0% | |
| Treace Medical Concepts Inc | -1.0% | |
| Duck Creek Technologies Inc | -1.0% | |
| NETSTREIT Corp | -1.0% | |
| Grab Holdings Ltd | -1.0% | |
| Sprout Social Inc | -1.0% | |
| Vacasa Inc | -1.0% | |
| Tellurian Inc | -1.0% | |
| eHealth Inc | -1.0% | |
| NeoGenomics Inc | -1.0% | |
| FTC Solar Inc | -0.9% | |
| Codexis Inc | -0.9% | |
| Butterfly Network Inc | -0.9% | |
| Inotiv Inc | -0.9% | |
| Rackspace Technology Inc | -0.9% | |
| Aspen Aerogels Inc | -0.7% | |
| 1Life Healthcare Inc | -0.5% | |
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