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: $16.9848
Date: 2020-05-26
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:
$0.10 per Quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Reference Portfolio Performance
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2020-Apr-30
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | n/a | n/a | n/a | n/a | n/a | n/a |
Under current regulations, fund performance can only be published one year after its inception.
Fund Characteristics as of 2020-Apr-30
| Long | Short | |
|---|---|---|
| Number of Securities | 51 | 42 |
| Average Market Cap ($mm) | $83,750 | $1,585 |
| Beta | 1.1 | 1.2 |
| EBITDA/EV | 10.2% | 3.1% |
| FCF/EV | 5.6% | -5.9% |
| Trailing Return | 6.3% | -54.5% |
| Pct of 52 Week High | 80.4% | 45.2% |
| Return on Capital | 21.3% | -9.3% |
| Gross Profits/Assets | 10.8% | 4.5% |
| 50 DMA to 200 DMA | 94.8% | 68.4% |
| EPS Revision | -12.4% | -0.2% |
| Change In Shares | -2.6% | 5.1% |
| Earnings Abnormal Return | 3.5% | -5.1% |
Sector Weightings as of 2020-Apr-30
| Long | Short | |
|---|---|---|
| Communication Services | 5.5% | -1.0% |
| Consumer Discretionary | 19.3% | -8.1% |
| Consumer Staples | 9.9% | 0.0% |
| Energy | 2.0% | -2.0% |
| Financials | 18.3% | -6.4% |
| Health Care | 11.9% | -6.0% |
| Industrials | 17.9% | -6.1% |
| Information Technology | 22.5% | -10.0% |
| Materials | 6.4% | -4.2% |
| Real Estate | 2.1% | -1.3% |
| Utilities | 0.0% | 0.0% |
| Equity Exposure | 115.8% | -45.2% |
Fund Holdings as of 2020-Apr-30
| Long Security Name | Weight | |
|---|---|---|
| Lifevantage Corp | 3.2% | |
| Helen of Troy Ltd | 2.9% | |
| BRP Inc | 2.7% | |
| Mastech Digital Inc | 2.7% | |
| Ameriprise Financial Inc | 2.6% | |
| HomeStreet Inc | 2.6% | |
| FMC Corp | 2.6% | |
| Mettler-Toledo International Inc | 2.5% | |
| Old Dominion Freight Line Inc | 2.5% | |
| Gentex Corp | 2.5% | |
| S&P Global Inc | 2.5% | |
| RH | 2.5% | |
| Bruker Corp | 2.4% | |
| Cable One Inc | 2.4% | |
| Microsoft Corp | 2.4% | |
| Cirrus Logic Inc | 2.4% | |
| Humana Inc | 2.4% | |
| Leons Furniture Ltd | 2.4% | |
| MagnaChip Semiconductor Corp | 2.4% | |
| UnitedHealth Group Inc | 2.3% | |
| Charter Communications Inc | 2.3% | |
| Loblaw Cos Ltd | 2.3% | |
| CI Financial Corp | 2.3% | |
| Apple Inc | 2.3% | |
| Copart Inc | 2.3% | |
| TECSYS Inc | 2.3% | |
| Intel Corp | 2.3% | |
| Applied Materials Inc | 2.3% | |
| Corby Spirit and Wine Ltd | 2.3% | |
| Moodys Corp | 2.3% | |
| Illinois Tool Works Inc | 2.2% | |
| Cerner Corp | 2.2% | |
| Universal Technical Institute | 2.2% | |
| Quarterhill Inc | 2.2% | |
| DR Horton Inc | 2.2% | |
| Procter & Gamble Co | 2.2% | |
| Victory Capital Holdings Inc | 2.1% | |
| Masco Corp | 2.1% | |
| Simpson Manufacturing Co Inc | 2.1% | |
| DREAM Unlimited Corp | 2.1% | |
| T Rowe Price Group Inc | 2.1% | |
| Lam Research Corp | 2.0% | |
| Fortune Brands Home & Security | 2.0% | |
| Texas Pacific Land Trust | 2.0% | |
| Deckers Outdoor Corp | 1.9% | |
| Synaptics Inc | 1.9% | |
| Reliance Steel & Aluminum Co | 1.9% | |
| Commercial Metals Co | 1.9% | |
| Carlisle Cos Inc | 1.9% | |
| SEI Investments Co | 1.8% | |
| Yellow Pages Ltd | 0.7% |
| Short Security Name | Weight | |
|---|---|---|
| OneSpaWorld Holdings Ltd | -1.7% | |
| Grubhub Inc | -1.3% | |
| Park Hotels & Resorts Inc | -1.3% | |
| Immersion Corp | -1.3% | |
| Twilio Inc | -1.2% | |
| Greenlight Capital Re Ltd | -1.2% | |
| Astronics Corp | -1.2% | |
| VirnetX Holding Corp | -1.2% | |
| GoPro Inc | -1.2% | |
| Stratasys Ltd | -1.2% | |
| Teck Resources Ltd | -1.2% | |
| Synchronoss Technologies Inc | -1.2% | |
| Quad/Graphics Inc | -1.1% | |
| Zuora Inc | -1.1% | |
| James River Group Holdings Ltd | -1.1% | |
| Pacific Biosciences of California | -1.1% | |
| Republic First Bancorp Inc | -1.1% | |
| Fluidigm Corp | -1.1% | |
| United Insurance Holdings Corp | -1.1% | |
| Playa Hotels & Resorts NV | -1.1% | |
| Canfor Pulp Products Inc | -1.1% | |
| Misonix Inc | -1.0% | |
| Cimarex Energy Co | -1.0% | |
| Virtu Financial Inc | -1.0% | |
| Ag Growth International Inc | -1.0% | |
| Venator Materials PLC | -1.0% | |
| Liquidity Services Inc | -1.0% | |
| Wayfair Inc | -1.0% | |
| OptimizeRx Corp | -1.0% | |
| Cree Inc | -1.0% | |
| Tidewater Inc | -1.0% | |
| Graham Corp | -1.0% | |
| Eventbrite Inc | -1.0% | |
| Nexa Resources SA | -1.0% | |
| International Money Express Inc | -1.0% | |
| Digimarc Corp | -1.0% | |
| Viad Corp | -0.9% | |
| Colony Credit Real Estate Inc | -0.9% | |
| Apyx Medical Corp | -0.9% | |
| Hertz Global Holdings Inc | -0.9% | |
| At Home Group Inc | -0.9% | |
| ViewRay Inc | -0.8% | |
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