Accelerate Absolute Return Hedge Fund
About the Fund
The Accelerate Absolute Return Hedge Fund (TSX: HDGE) is a quantitative long-short equity hedge fund that seeks to achieve attractive risk-adjusted returns with low correlation to the broad equity markets.
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:
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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:
$0.10 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Track Record
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2023-Aug-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | 2.8% | 9.2% | 5.8% | 13.1% | 13.1% | 5.9% |
Fund Characteristics as of 2023-Aug-31
| Long | Short | |
|---|---|---|
| Number of Securities | 49 | 48 |
| Average Market Cap ($mm) | $15,541 | $3,114 |
| Beta | 1.0 | 1.4 |
| EBITDA/EV | 15.1% | -6.6% |
| FCF/EV | 8.4% | -10.5% |
| Trailing Return | 32.3% | -29.9% |
| Pct of 52 Week High | 90.4% | 53.8% |
| Return on Capital | 26.9% | -12.7% |
| Gross Profits/Assets | 7.2% | 3.4% |
| 50 DMA to 200 DMA | 111.5% | 91.4% |
| EPS Revision | 4.4% | -3.3% |
| Change In Shares | -4.8% | 7.3% |
| Earnings Abnormal Return | 1.2% | -6.1% |
Sector Weightings as of 2023-Aug-31
| Long | Short | |
|---|---|---|
| Communication Services | 0.0% | -0.9% |
| Consumer Discretionary | 17.4% | -4.8% |
| Consumer Staples | 9.0% | 0.0% |
| Energy | 13.6% | -3.1% |
| Financials | 13.1% | -4.9% |
| Health Care | 8.5% | -7.7% |
| Industrials | 23.8% | -9.6% |
| Information Technology | 8.8% | -9.6% |
| Materials | 11.1% | -3.0% |
| Real Estate | 2.2% | -1.0% |
| Utilities | 0.0% | 0.0% |
| Equity Exposure | 107.6% | -44.5% |
Fund Holdings as of 2023-Aug-31
| Long Security Name | Weight | |
|---|---|---|
| CES Energy Solutions Corp | 2.4% | |
| Alimentation Couche-Tard Inc | 2.3% | |
| Grand Canyon Education Inc | 2.3% | |
| George Weston Ltd | 2.3% | |
| Commercial Metals Co | 2.3% | |
| Murphy USA Inc | 2.3% | |
| Gulfport Energy Corp | 2.3% | |
| ARC Resources Ltd | 2.3% | |
| CTS Corp | 2.3% | |
| Loblaw Cos Ltd | 2.3% | |
| Russel Metals Inc | 2.3% | |
| Nucor Corp | 2.2% | |
| Parex Resources Inc | 2.2% | |
| Everest Group Ltd | 2.2% | |
| BellRing Brands Inc | 2.2% | |
| Warrior Met Coal Inc | 2.2% | |
| TFI International Inc | 2.2% | |
| Reliance Steel & Aluminum Co | 2.2% | |
| Mullen Group Ltd | 2.2% | |
| Definity Financial Corp | 2.2% | |
| Intact Financial Corp | 2.2% | |
| MasterCraft Boat Holdings Inc | 2.2% | |
| Booking Holdings Inc | 2.2% | |
| Copa Holdings SA | 2.2% | |
| Markel Group Inc | 2.2% | |
| InterDigital Inc | 2.2% | |
| KLA Corp | 2.2% | |
| Marathon Petroleum Corp | 2.2% | |
| Par Pacific Holdings Inc | 2.2% | |
| AutoNation Inc | 2.2% | |
| Esab Corp | 2.2% | |
| McKesson Corp | 2.2% | |
| NewMarket Corp | 2.2% | |
| Encore Wire Corp | 2.2% | |
| Owens Corning | 2.2% | |
| Tanger Factory Outlet Centers | 2.2% | |
| Group 1 Automotive Inc | 2.2% | |
| Covenant Logistics Group Inc | 2.1% | |
| Bancorp Inc/The | 2.1% | |
| Axcelis Technologies Inc | 2.1% | |
| Atkore Inc | 2.1% | |
| Taylor Morrison Home Corp | 2.1% | |
| Cardinal Health Inc | 2.1% | |
| Viad Corp | 2.1% | |
| DaVita Inc | 2.1% | |
| Medpace Holdings Inc | 2.1% | |
| NU Holdings Ltd/Cayman Islands | 2.1% | |
| Builders FirstSource Inc | 2.1% | |
| Arhaus Inc | 2.1% |
| Short Security Name | Weight | |
|---|---|---|
| NextDecade Corp | -1.1% | |
| Aspen Aerogels Inc | -1.1% | |
| Mercury Systems Inc | -1.1% | |
| ADTRAN Holdings Inc | -1.0% | |
| Purple Innovation Inc | -1.0% | |
| Aspen Technology Inc | -1.0% | |
| Funko Inc | -1.0% | |
| PRA Group Inc | -1.0% | |
| Axonics Inc | -1.0% | |
| Safehold Inc | -1.0% | |
| Clean Energy Fuels Corp | -1.0% | |
| Aecon Group Inc | -1.0% | |
| Great Lakes Dredge & Dock Corp | -1.0% | |
| Nevro Corp | -1.0% | |
| Two Harbors Investment Corp | -1.0% | |
| FARO Technologies Inc | -1.0% | |
| Seabridge Gold Inc | -1.0% | |
| KKR & Co Inc | -1.0% | |
| Ballard Power Systems Inc | -1.0% | |
| Health Catalyst Inc | -1.0% | |
| First Majestic Silver Corp | -1.0% | |
| Cytek Biosciences Inc | -1.0% | |
| Paycor HCM Inc | -1.0% | |
| MaxCyte Inc | -1.0% | |
| Bridge Investment Group Holdin | -1.0% | |
| Energy Fuels Inc/Canada | -1.0% | |
| KKR Real Estate Finance Trust | -1.0% | |
| SentinelOne Inc | -1.0% | |
| CS Disco Inc | -0.9% | |
| Grab Holdings Ltd | -0.9% | |
| Bloom Energy Corp | -0.9% | |
| Lightspeed Commerce Inc | -0.9% | |
| Unity Software Inc | -0.9% | |
| Impinj Inc | -0.9% | |
| Castle Biosciences Inc | -0.9% | |
| Solid Power Inc | -0.9% | |
| Farfetch Ltd | -0.9% | |
| Spirit AeroSystems Holdings In | -0.9% | |
| Matterport Inc | -0.9% | |
| Skillz Inc | -0.9% | |
| BioLife Solutions Inc | -0.9% | |
| Sunrun Inc | -0.9% | |
| LivePerson Inc | -0.9% | |
| SunPower Corp | -0.9% | |
| Novocure Ltd | -0.5% | |
| Multiplan Corp | -0.5% | |
| Big Lots Inc | -0.4% | |
| Vroom Inc | -0.4% | |
DISCLAIMER: This information on this web page does not constitute investment, legal or tax advice. Performance is inclusive of reinvested distributions. 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.
