Accelerate Absolute Return Hedge Fund

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:
  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 2022-Nov-30

1 Month3 MonthsYTD1 Year3 YearsSince Inception
HDGE2.9%9.2%17.8%25.0%8.2%5.0%

Fund Characteristics as of 2022-Nov-30

Long Short
Number of Securities5151
Average Market Cap ($mm)$10,427$4,633
Beta1.1 1.4
EBITDA/EV20.7%-7.0%
FCF/EV11.3%-5.9%
Trailing Return14.4%-67.7%
Pct of 52 Week High85.8%35.3%
Return on Capital31.9%-13.4%
Gross Profits/Assets8.2%4.5%
50 DMA to 200 DMA102.2%76.7%
EPS Revision-4.4%-3.2%
Change In Shares-5.6%7.1%
Earnings Abnormal Return0.5%-3.1%

Sector Weightings as of 2022-Nov-30

Long Short
Communication Services2.3%-5.1%
Consumer Discretionary16.2%-8.9%
Consumer Staples8.8%-1.8%
Energy19.2%0.0%
Financials11.7%-1.8%
Health Care4.1%-8.7%
Industrials18.1%-4.5%
Information Technology7.0%-13.9%
Materials20.9%0.0%
Real Estate4.5%0.0%
Utilities2.0%0.0%
Equity Exposure115.0%-44.8%

Fund Holdings as of 2022-Nov-30

Long Security NameWeight
Jackson Financial Inc2.5%
Dillards Inc2.5%
Chemours Co/The2.5%
AutoNation Inc2.4%
Axcelis Technologies Inc2.4%
Mullen Group Ltd2.4%
Louisiana-Pacific Corp2.4%
Donnelley Financial Solutions2.4%
Group 1 Automotive Inc2.4%
Nucor Corp2.4%
Marcus & Millichap Inc2.4%
Mueller Industries Inc2.4%
HP Inc2.4%
GCM Grosvenor Inc2.4%
Encore Wire Corp2.3%
Steel Dynamics Inc2.3%
Interfor Corp2.3%
Principal Financial Group Inc2.3%
Uni-Select Inc2.3%
CF Industries Holdings Inc2.3%
Covenant Logistics Group Inc2.3%
H&R Block Inc2.3%
Sirius XM Holdings Inc2.3%
Alimentation Couche-Tard Inc2.3%
West Fraser Timber Co Ltd2.3%
Advantage Energy Ltd2.3%
CTS Corp2.2%
Reliance Steel & Aluminum Co2.2%
Tamarack Valley Energy Ltd2.2%
George Weston Ltd2.2%
NuVista Energy Ltd2.2%
Civeo Corp2.2%
CES Energy Solutions Corp2.2%
Dollarama Inc2.2%
Russel Metals Inc2.2%
Hudson Technologies Inc2.2%
InvenTrust Properties Corp2.2%
Loblaw Cos Ltd2.2%
ARC Resources Ltd2.2%
Danaos Corp2.2%
Intact Financial Corp2.2%
Coca-Cola Consolidated Inc2.1%
Chesapeake Energy Corp2.1%
Murphy USA Inc2.1%
LSB Industries Inc2.1%
Athabasca Oil Corp2.1%
Cardinal Health Inc2.1%
McKesson Corp2.0%
Cardinal Energy Ltd2.0%
Montauk Renewables Inc2.0%
CONSOL Energy Inc1.9%

 

Short Security NameWeight
Peloton Interactive Inc-1.1%
Castle Biosciences Inc-1.1%
Park Lawn Corp-1.1%
E2open Parent Holdings Inc-1.1%
American Well Corp-1.0%
Duck Creek Technologies Inc-1.0%
SentinelOne Inc-1.0%
UiPath Inc-1.0%
Fastly Inc-1.0%
NEOGAMES SA-1.0%
IAC Inc-1.0%
Illumina Inc-1.0%
Alkami Technology Inc-1.0%
Norwegian Cruise Line Holdings-1.0%
Dun & Bradstreet Holdings Inc-1.0%
Accolade Inc-1.0%
TuSimple Holdings Inc-1.0%
Nextdoor Holdings Inc-1.0%
StepStone Group Inc-1.0%
Olo Inc-1.0%
Freshpet Inc-0.9%
Grab Holdings Ltd-0.9%
Rush Street Interactive Inc-0.9%
Madison Square Garden Entertainment Corp-0.9%
Rite Aid Corp-0.9%
Broadmark Realty Capital Inc-0.9%
Outset Medical Inc-0.8%
Quanterix Corp-0.8%
Purple Innovation Inc-0.8%
Unity Software Inc-0.8%
Health Catalyst Inc-0.8%
Certara Inc-0.8%
American Eagle Outfitters Inc-0.8%
Kornit Digital Ltd-0.8%
Ballard Power Systems Inc-0.8%
23andMe Holding Co-0.8%
DraftKings Inc-0.8%
Sumo Logic Inc-0.8%
DoorDash Inc-0.8%
Snap Inc-0.8%
nLight Inc-0.7%
Palantir Technologies Inc-0.7%
ZoomInfo Technologies Inc-0.7%
nCino Inc-0.7%
Lightspeed Commerce Inc-0.7%
SiTime Corp-0.7%
Twilio Inc-0.7%
Roku Inc-0.7%
C3.ai Inc-0.7%
CryoPort Inc-0.7%
2U Inc-0.7%
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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.