HDGE.TO vs. PFIA.TO
HDGE.TO (Accelerate Absolute Return Fund) and PFIA.TO (PICTON Long Short Income Alternative Fund) are both Long-Short funds. Both are actively managed. Over the past 5 years, HDGE.TO returned 13.68%/yr vs 3.41%/yr for PFIA.TO. At a correlation of -0.03, they often move in opposite directions.
Performance
HDGE.TO vs. PFIA.TO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with HDGE.TO having a 0.87% return and PFIA.TO slightly higher at 0.91%.
HDGE.TO
- 1D
- -0.54%
- 1M
- -1.49%
- 6M
- 3.31%
- YTD
- 0.87%
- 1Y
- 7.70%
- 3Y*
- 9.13%
- 5Y*
- 13.68%
- 10Y*
- —
- ALL TIME*
- 6.67%
PFIA.TO
- 1D
- 0.00%
- 1M
- 0.26%
- 6M
- 0.37%
- YTD
- 0.91%
- 1Y
- 3.30%
- 3Y*
- 5.78%
- 5Y*
- 3.41%
- 10Y*
- —
- ALL TIME*
- 4.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$3.92K | CA$12.94K | CA$12.62K | |
| CA$392.29K | CA$336.42K | CA$327.83K |
HDGE.TO vs. PFIA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HDGE.TO Accelerate Absolute Return Fund | 0.87% | 3.68% | 22.91% | 3.36% | 15.47% | 27.57% | -20.14% | 0.51% |
PFIA.TO PICTON Long Short Income Alternative Fund | 0.91% | 5.42% | 7.76% | 7.26% | -3.42% | 3.17% | 9.26% | 3.58% |
Correlation
The correlation between HDGE.TO and PFIA.TO is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2019 | -0.03 |
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Return for Risk
HDGE.TO vs. PFIA.TO — Risk / Return Rank
HDGE.TO
PFIA.TO
HDGE.TO vs. PFIA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Accelerate Absolute Return Fund (HDGE.TO) and PICTON Long Short Income Alternative Fund (PFIA.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HDGE.TO | PFIA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.26 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 2.44 | -1.59 |
| Martin ratioReturn relative to average drawdown | 2.31 | 6.83 | -4.52 |
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Drawdowns
HDGE.TO vs. PFIA.TO - Drawdown Comparison
The maximum HDGE.TO drawdown since its inception was -29.81%, which is greater than PFIA.TO's maximum drawdown of -17.12%. Use the drawdown chart below to compare losses from any high point for HDGE.TO and PFIA.TO.
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Drawdown Indicators
| HDGE.TO | PFIA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.81% | -17.12% | -12.69% |
Max Drawdown (1Y)Largest decline over 1 year | -9.07% | -1.36% | -7.71% |
Max Drawdown (3Y)Largest decline over 3 years | -12.20% | -1.47% | -10.73% |
Max Drawdown (5Y)Largest decline over 5 years | -13.69% | -6.46% | -7.23% |
Current DrawdownCurrent decline from peak | -3.68% | -0.34% | -3.34% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -1.11% | -7.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 0.48% | +2.86% |
Volatility
HDGE.TO vs. PFIA.TO - Volatility Comparison
Accelerate Absolute Return Fund (HDGE.TO) has a higher volatility of 4.43% compared to PICTON Long Short Income Alternative Fund (PFIA.TO) at 0.67%. This indicates that HDGE.TO's price experiences larger fluctuations and is considered to be riskier than PFIA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDGE.TO | PFIA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 0.67% | +3.76% |
Volatility (6M)Calculated over the trailing 6-month period | 11.52% | 1.88% | +9.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.92% | 2.43% | +11.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.45% | 4.18% | +12.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 6.35% | +10.91% |
Dividends
HDGE.TO vs. PFIA.TO - Dividend Comparison
HDGE.TO's dividend yield for the trailing twelve months is around 1.45%, less than PFIA.TO's 4.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HDGE.TO Accelerate Absolute Return Fund | 1.45% | 1.45% | 1.48% | 2.10% | 2.14% | 2.05% | 3.01% | 0.99% |
PFIA.TO PICTON Long Short Income Alternative Fund | 4.91% | 3.97% | 3.66% | 5.63% | 4.69% | 4.25% | 6.02% | 1.66% |
Frequently Asked Questions
HDGE.TO and PFIA.TO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Accelerate Financial Technologies Inc. and PICTON Investments.
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