Investment Risks - Wireless Fund |
Jul. 31, 2026 |
|---|---|
| Risks in General | |
| Prospectus [Line Items] | |
| Risk [Text Block] |
Risks in General Domestic economic growth and market conditions, interest rate levels, and political events are among the factors affecting the securities markets in which the Fund invests. There is risk that these and other factors may adversely affect the Fund’s performance. You could lose money by investing in the Fund.
Additionally, unexpected local, regional or global events, such as war; acts of terrorism; financial, political or social disruptions; natural, environmental or man-made disasters; the spread of infectious illnesses or other public health issues (such as COVID-19); and recessions and depressions could have a significant impact on the Fund and its investments and may impair market liquidity. Such events can cause investor fear, which can adversely affect the economies of nations, regions and the market in general, in ways that cannot necessarily be foreseen. |
| Risks of Investing in Common Stocks | |
| Prospectus [Line Items] | |
| Risk [Text Block] |
Risks of Investing in Common Stocks Overall stock market risks may affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels, and political events affect the securities markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money. |
| Industry Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] |
Industry Risk Industry risk is the possibility that stocks within the same industry will decline in price due to industry specific market or economic developments. Because the Wireless Fund concentrates its investments in the wireless industry, the Fund is subject to the risk that companies in that industry are likely to react similarly to legislative or regulatory changes, adverse market conditions and/or increased competition affecting that market segment. |
| Small and Mid-Capitalization Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] |
Small and Mid-Capitalization Risk The Fund may invest a substantial portion of its assets in small and mid-capitalization companies. While smaller companies generally have the potential for rapid growth, they often involve higher risks because they lack the management experience, financial resources, product diversification and competitive strengths of larger corporations. |
| Foreign Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] |
Foreign Risk To the extent the Fund invests in foreign securities, the Fund may be subject to risks not usually associated with owning securities of U.S. issuers. These risks can include fluctuations in foreign currencies, foreign currency exchange controls, political and economic instability, differences in financial reporting, differences in securities regulation and trading, and taxation issues. |
| Portfolio Turnover Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] |
Portfolio Turnover Risk The Fund may engage in short-term trading to try to achieve its objective and may have portfolio turnover rates in excess of 100%. Increased portfolio turnover may cause the Fund to incur higher brokerage costs, which may adversely affect the Fund’s performance, and may produce increased taxable distributions. |
| Management Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] |
Management Risk The Adviser’s strategy may fail to produce the intended results. |
| Risk Lose Money [Member] | |
| Prospectus [Line Items] | |
| Risk [Text Block] | You could lose money by investing in the Fund. |
| Risk Nondiversified Status [Member] | |
| Prospectus [Line Items] | |
| Risk [Text Block] |
Risk of Non-Diversification The Fund is a non-diversified fund, which means that it has the ability to take larger positions in a smaller number of securities than a fund that is “diversified.” Non-diversification increases the risk that the value of the Fund could go down because of the poor performance of a single investment. |