Key stats
About AGF US MKT NEUTRAL ANTI-BETA C UNIT
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Inception date
Oct 7, 2019
Structure
Canadian Mutual Fund Trust (ON)
Dividend treatment
Distributes
Income tax type
Capital Gains
Primary advisor
AGF Investments, Inc.
The fund follows an index that invests in long low-beta stocks and short high-beta names. The underlying index targets the top 1,000 by market cap, including REITs, in the Dow Jones U.S. Index. The funds market neutral approach aims to fully offset nominal long and short positions. QBLT ranks stocks in each sector by beta and individual stocks get equal weight within their sectors. Overall, long low beta, short high beta might be expected to produce negative correlation to equities despite the equal dollar offsetting exposure. While QBLT uses swaps at times, it typically takes direct short positions in stocks, rather than relying solely on derivatives for short exposure. The fund therefore incurs short interest costs, something that purely swaps based long-short funds dont have to deal with. Also, the cost of a true market neutral exposure is something that investors should watch out for with borrowing costs and dividends working against the fund.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Stocks58.69%
Finance8.38%
Technology Services5.93%
Health Technology2.70%
Consumer Non-Durables2.52%
Electronic Technology2.39%
Process Industries2.01%
Consumer Services1.97%
Utilities1.75%
Transportation1.47%
Producer Manufacturing1.26%
Industrial Services1.20%
Retail Trade1.06%
Energy Minerals0.83%
Distribution Services0.83%
Health Services0.76%
Communications0.75%
Commercial Services0.71%
Consumer Durables0.15%
Bonds, Cash & Other41.31%
Cash85.50%
Government15.76%
Futures1.31%
Miscellaneous−61.26%
Top 10 holdings
Dividends
Dividend payout history