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:
$0.10 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Track Record
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2022-Nov-30
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | 2.9% | 9.2% | 17.8% | 25.0% | 8.2% | 5.0% |
Fund Characteristics as of 2022-Nov-30
| Long | Short | |
|---|---|---|
| Number of Securities | 51 | 51 |
| Average Market Cap ($mm) | $10,427 | $4,633 |
| Beta | 1.1 | 1.4 |
| EBITDA/EV | 20.7% | -7.0% |
| FCF/EV | 11.3% | -5.9% |
| Trailing Return | 14.4% | -67.7% |
| Pct of 52 Week High | 85.8% | 35.3% |
| Return on Capital | 31.9% | -13.4% |
| Gross Profits/Assets | 8.2% | 4.5% |
| 50 DMA to 200 DMA | 102.2% | 76.7% |
| EPS Revision | -4.4% | -3.2% |
| Change In Shares | -5.6% | 7.1% |
| Earnings Abnormal Return | 0.5% | -3.1% |
Sector Weightings as of 2022-Nov-30
| Long | Short | |
|---|---|---|
| Communication Services | 2.3% | -5.1% |
| Consumer Discretionary | 16.2% | -8.9% |
| Consumer Staples | 8.8% | -1.8% |
| Energy | 19.2% | 0.0% |
| Financials | 11.7% | -1.8% |
| Health Care | 4.1% | -8.7% |
| Industrials | 18.1% | -4.5% |
| Information Technology | 7.0% | -13.9% |
| Materials | 20.9% | 0.0% |
| Real Estate | 4.5% | 0.0% |
| Utilities | 2.0% | 0.0% |
| Equity Exposure | 115.0% | -44.8% |
Fund Holdings as of 2022-Nov-30
| Long Security Name | Weight | |
|---|---|---|
| Jackson Financial Inc | 2.5% | |
| Dillards Inc | 2.5% | |
| Chemours Co/The | 2.5% | |
| AutoNation Inc | 2.4% | |
| Axcelis Technologies Inc | 2.4% | |
| Mullen Group Ltd | 2.4% | |
| Louisiana-Pacific Corp | 2.4% | |
| Donnelley Financial Solutions | 2.4% | |
| Group 1 Automotive Inc | 2.4% | |
| Nucor Corp | 2.4% | |
| Marcus & Millichap Inc | 2.4% | |
| Mueller Industries Inc | 2.4% | |
| HP Inc | 2.4% | |
| GCM Grosvenor Inc | 2.4% | |
| Encore Wire Corp | 2.3% | |
| Steel Dynamics Inc | 2.3% | |
| Interfor Corp | 2.3% | |
| Principal Financial Group Inc | 2.3% | |
| Uni-Select Inc | 2.3% | |
| CF Industries Holdings Inc | 2.3% | |
| Covenant Logistics Group Inc | 2.3% | |
| H&R Block Inc | 2.3% | |
| Sirius XM Holdings Inc | 2.3% | |
| Alimentation Couche-Tard Inc | 2.3% | |
| West Fraser Timber Co Ltd | 2.3% | |
| Advantage Energy Ltd | 2.3% | |
| CTS Corp | 2.2% | |
| Reliance Steel & Aluminum Co | 2.2% | |
| Tamarack Valley Energy Ltd | 2.2% | |
| George Weston Ltd | 2.2% | |
| NuVista Energy Ltd | 2.2% | |
| Civeo Corp | 2.2% | |
| CES Energy Solutions Corp | 2.2% | |
| Dollarama Inc | 2.2% | |
| Russel Metals Inc | 2.2% | |
| Hudson Technologies Inc | 2.2% | |
| InvenTrust Properties Corp | 2.2% | |
| Loblaw Cos Ltd | 2.2% | |
| ARC Resources Ltd | 2.2% | |
| Danaos Corp | 2.2% | |
| Intact Financial Corp | 2.2% | |
| Coca-Cola Consolidated Inc | 2.1% | |
| Chesapeake Energy Corp | 2.1% | |
| Murphy USA Inc | 2.1% | |
| LSB Industries Inc | 2.1% | |
| Athabasca Oil Corp | 2.1% | |
| Cardinal Health Inc | 2.1% | |
| McKesson Corp | 2.0% | |
| Cardinal Energy Ltd | 2.0% | |
| Montauk Renewables Inc | 2.0% | |
| CONSOL Energy Inc | 1.9% |
| Short Security Name | Weight | |
|---|---|---|
| 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% |
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.
