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:
$0.10 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
DISCLAIMER: This information on this web page does not constitute investment, legal or tax advice. Past performance is not indicative of future results. Any data provided on this web page should not be viewed as a recommendation or solicitation of an offer to buy or sell any securities or investment strategies. The information on this web page is based on market conditions and may fluctuate and change without notice. Accelerate does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this website and any liability is expressly disclaimed.
Track Record
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2022-May-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | 2.6% | 8.9% | 14.4% | 39.2% | 5.6% | 4.9% |
Fund Characteristics as of 2022-May-31
| Long | Short | |
|---|---|---|
| Number of Securities | 50 | 46 |
| Average Market Cap ($mm) | $90,066 | $2,758 |
| Beta | 1.2 | 1.4 |
| EBITDA/EV | 21.9% | -5.7% |
| FCF/EV | 10.6% | -8.7% |
| Trailing Return | 49.7% | -51.8% |
| Pct of 52 Week High | 84.4% | 35.9% |
| Return on Capital | 33.0% | -12.3% |
| Gross Profits/Assets | 8.6% | 3.8% |
| 50 DMA to 200 DMA | 110.2% | 68.3% |
| EPS Revision | 7.5% | 3.0% |
| Change In Shares | -4.7% | 13.2% |
| Earnings Abnormal Return | 1.6% | -5.9% |
Sector Weightings as of 2022-May-31
| Long | Short | |
|---|---|---|
| Communication Services | 2.6% | -2.8% |
| Consumer Discretionary | 12.3% | -8.9% |
| Consumer Staples | 6.8% | -1.0% |
| Energy | 21.3% | -2.0% |
| Financials | 13.5% | -2.1% |
| Health Care | 1.9% | -10.8% |
| Industrials | 20.5% | -1.8% |
| Information Technology | 10.9% | -9.8% |
| Materials | 22.3% | -3.6% |
| Real Estate | 0.0% | -1.9% |
| Utilities | 2.7% | 0.0% |
| Equity Exposure | 114.8% | -44.5% |
Fund Holdings as of 2022-May-31
| Long Security Name | Weight | |
|---|---|---|
| Obsidian Energy Ltd | 3.0% | |
| Crescent Point Energy Corp | 2.9% | |
| Marathon Oil Corp | 2.7% | |
| Montauk Renewables Inc | 2.7% | |
| Hudson Technologies Inc | 2.7% | |
| APA Corp | 2.7% | |
| Parex Resources Inc | 2.6% | |
| Playtika Holding Corp | 2.6% | |
| Baytex Energy Corp | 2.5% | |
| A-Mark Precious Metals Inc | 2.5% | |
| Patria Investments Ltd | 2.4% | |
| EOG Resources Inc | 2.4% | |
| Driven Brands Holdings Inc | 2.4% | |
| LSB Industries Inc | 2.4% | |
| Coca-Cola Consolidated Inc | 2.4% | |
| Athabasca Oil Corp | 2.4% | |
| Steel Dynamics Inc | 2.4% | |
| Taseko Mines Ltd | 2.3% | |
| Amerigo Resources Ltd | 2.3% | |
| Uni-Select Inc | 2.3% | |
| Masco Corp | 2.3% | |
| Russel Metals Inc | 2.3% | |
| West Fraser Timber Co Ltd | 2.3% | |
| Hardwoods Distribution Inc | 2.3% | |
| Evercore Inc | 2.2% | |
| ZIM Integrated Shipping Services Ltd | 2.2% | |
| Concentrix Corp | 2.2% | |
| Seagate Technology Holdings PL | 2.2% | |
| Loblaw Cos Ltd | 2.2% | |
| Resolute Forest Products Inc | 2.2% | |
| George Weston Ltd | 2.2% | |
| HP Inc | 2.2% | |
| Credit Acceptance Corp | 2.2% | |
| Nucor Corp | 2.2% | |
| AutoNation Inc | 2.2% | |
| Microsoft Corp | 2.2% | |
| Encore Capital Group Inc | 2.2% | |
| Dillards Inc | 2.1% | |
| Danaos Corp | 2.1% | |
| Encore Wire Corp | 2.1% | |
| Western Forest Products Inc | 2.1% | |
| Boise Cascade Co | 2.1% | |
| Interfor Corp | 2.1% | |
| Apple Inc | 2.1% | |
| Louisiana-Pacific Corp | 2.0% | |
| Academy Sports & Outdoors Inc | 2.0% | |
| Landsea Homes Corp | 2.0% | |
| Vinci Partners Investments Ltd | 1.9% |
| Short Security Name | Weight | |
|---|---|---|
| Wynn Resorts Ltd | -1.1% | |
| Orchid Island Capital Inc | -1.1% | |
| Workhorse Group Inc | -1.0% | |
| Rackspace Technology Inc | -1.0% | |
| Callaway Golf Co | -1.0% | |
| Adient PLC | -1.0% | |
| PetIQ Inc | -1.0% | |
| Mission Produce Inc | -1.0% | |
| NETSTREIT Corp | -1.0% | |
| Akoustis Technologies Inc | -1.0% | |
| Lightspeed Commerce Inc | -1.0% | |
| Ranpak Holdings Corp | -1.0% | |
| AMMO Inc | -1.0% | |
| Green Plains Inc | -1.0% | |
| Tellurian Inc | -1.0% | |
| Roku Inc | -1.0% | |
| Palantir Technologies Inc | -1.0% | |
| American Well Corp | -1.0% | |
| nLight Inc | -1.0% | |
| Schrodinger Inc/United States | -1.0% | |
| loanDepot Inc | -1.0% | |
| Inari Medical Inc | -1.0% | |
| Oak Street Health Inc | -1.0% | |
| PAR Technology Corp | -1.0% | |
| Duck Creek Technologies Inc | -1.0% | |
| 1Life Healthcare Inc | -1.0% | |
| Vertiv Holdings Co | -1.0% | |
| Quanterix Corp | -1.0% | |
| Berkeley Lights Inc | -1.0% | |
| Amyris Inc | -1.0% | |
| Butterfly Network Inc | -1.0% | |
| NeoGenomics Inc | -1.0% | |
| Aspen Aerogels Inc | -1.0% | |
| BigCommerce Holdings Inc | -1.0% | |
| BioLife Solutions Inc | -0.9% | |
| Maxeon Solar Technologies Ltd | -0.9% | |
| DraftKings Inc | -0.9% | |
| Norwegian Cruise Line Holdings | -0.9% | |
| Bandwidth Inc | -0.9% | |
| Wayfair Inc | -0.9% | |
| Redfin Corp | -0.9% | |
| Okta Inc | -0.9% | |
| Purple Innovation Inc | -0.9% | |
| Cardlytics Inc | -0.9% | |
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