Accelerate Absolute Return Fund
About the Fund
The Accelerate Absolute Return 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 Fund Explained:
HDGE TRADING DATA
NAV:
Date:
SUBSCRIBE TO OUR DISTRIBUTION LIST TO STAY UPDATED ON HDGE
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:
$0.10 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Track Record
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2024-Mar-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | 2.1% | 16.7% | 16.7% | 20.1% | 20.9% | 8.2% |
Fund Characteristics as of 2024-Mar-31
| Long | Short | |
|---|---|---|
| Number of Securities | 45 | 41 |
| Average Market Cap ($mm) | $48,906 | $1,713 |
| Beta | 1.0 | 1.4 |
| EBITDA/EV | 11.9% | -4.9% |
| FCF/EV | 8.9% | -11.4% |
| Trailing Return | 75.0% | -36.9% |
| Pct of 52 Week High | 95.8% | 50.2% |
| Return on Capital | 21.7% | -13.9% |
| Gross Profits/Assets | 7.3% | 2.9% |
| 50 DMA to 200 DMA | 119.5% | 83.6% |
| EPS Revision | 5.3% | 0.0% |
| Change In Shares | -3.7% | 7.0% |
| Earnings Abnormal Return | 7.5% | -5.8% |
Sector Weightings as of 2024-Mar-31
| Long | Short | |
|---|---|---|
| Communication Services | 2.6% | 0.0% |
| Consumer Discretionary | 20.0% | -2.2% |
| Consumer Staples | 4.8% | 0.0% |
| Energy | 12.3% | -2.2% |
| Financials | 14.5% | -3.3% |
| Health Care | 12.1% | -10.7% |
| Industrials | 24.7% | -8.5% |
| Information Technology | 4.9% | -9.8% |
| Materials | 12.1% | -6.6% |
| Real Estate | 0.0% | -1.1% |
| Utilities | 2.4% | 0.0% |
| Equity Exposure | 110.5% | -44.3% |
Fund Holdings as of 2024-Mar-31
| Long Security Name | Weight | |
|---|---|---|
| GigaCloud Technology Inc | 2.8% | |
| Builders FirstSource Inc | 2.7% | |
| Liberty Energy Inc | 2.6% | |
| Meta Platforms Inc | 2.6% | |
| Murphy USA Inc | 2.6% | |
| KLA Corp | 2.5% | |
| Powell Industries Inc | 2.5% | |
| RCM Technologies Inc | 2.5% | |
| CRH PLC | 2.5% | |
| Stellantis NV | 2.5% | |
| DaVita Inc | 2.5% | |
| Definity Financial Corp | 2.5% | |
| Williams-Sonoma Inc | 2.5% | |
| Cadre Holdings Inc | 2.5% | |
| Atkore Inc | 2.4% | |
| Owens Corning | 2.4% | |
| Toll Brothers Inc | 2.4% | |
| Tenet Healthcare Corp | 2.4% | |
| Cabot Corp | 2.4% | |
| Scorpio Tankers Inc | 2.4% | |
| Victory Capital Holdings Inc | 2.4% | |
| Marathon Petroleum Corp | 2.4% | |
| Expedia Group Inc | 2.4% | |
| Loblaw Cos Ltd | 2.4% | |
| Cardinal Health Inc | 2.4% | |
| Medpace Holdings Inc | 2.4% | |
| Progressive Corp/The | 2.4% | |
| Taylor Morrison Home Corp | 2.4% | |
| Sylvamo Corp | 2.4% | |
| Coca-Cola Consolidated Inc | 2.4% | |
| CES Energy Solutions Corp | 2.4% | |
| Grand Canyon Education Inc | 2.4% | |
| American Woodmark Corp | 2.4% | |
| Masterbrand Inc | 2.4% | |
| HCI Group Inc | 2.4% | |
| Bancorp Inc/The | 2.4% | |
| Griffon Corp | 2.4% | |
| Teekay Corp | 2.4% | |
| NewMarket Corp | 2.4% | |
| Nucor Corp | 2.4% | |
| Constellation Energy Corp | 2.4% | |
| GE HealthCare Technologies Inc | 2.4% | |
| Encore Wire Corp | 2.4% | |
| Mercury General Corp | 2.3% | |
| AppLovin Corp | 2.3% |
| Short Security Name | Weight | |
|---|---|---|
| Albemarle Corp | -1.2% | |
| Wolfspeed Inc | -1.2% | |
| indie Semiconductor Inc | -1.1% | |
| AbCellera Biologics Inc | -1.1% | |
| STAAR Surgical Co | -1.1% | |
| CEVA Inc | -1.1% | |
| ARMOUR Residential REIT Inc | -1.1% | |
| Alcoa Corp | -1.1% | |
| Bloom Energy Corp | -1.1% | |
| Compass Minerals International | -1.1% | |
| Green Dot Corp | -1.1% | |
| Fulgent Genetics Inc | -1.1% | |
| QuantumScape Corp | -1.1% | |
| NextDecade Corp | -1.1% | |
| Ambarella Inc | -1.1% | |
| Bridge Investment Group Holdin | -1.1% | |
| Adaptive Biotechnologies Corp | -1.1% | |
| Ameresco Inc | -1.1% | |
| Matterport Inc | -1.1% | |
| Novagold Resources Inc | -1.1% | |
| Mercury Systems Inc | -1.1% | |
| MP Materials Corp | -1.1% | |
| Kornit Digital Ltd | -1.1% | |
| Kennedy-Wilson Holdings Inc | -1.1% | |
| MAG Silver Corp | -1.1% | |
| ADTRAN Holdings Inc | -1.1% | |
| JetBlue Airways Corp | -1.1% | |
| Silk Road Medical Inc | -1.1% | |
| GoPro Inc | -1.1% | |
| BioLife Solutions Inc | -1.1% | |
| Planet Labs PBC | -1.1% | |
| Nevro Corp | -1.1% | |
| 3D Systems Corp | -1.1% | |
| Clean Energy Fuels Corp | -1.0% | |
| SolarEdge Technologies Inc | -1.0% | |
| MaxLinear Inc | -1.0% | |
| Methode Electronics Inc | -1.0% | |
| Health Catalyst Inc | -1.0% | |
| Novocure Ltd | -1.0% | |
| Pacific Biosciences of Califor | -1.0% | |
| Ballard Power Systems Inc | -1.0% | |
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.
