| Label | Element | Value | ||||
|---|---|---|---|---|---|---|
| GMO High Yield Fund | GMO High Yield Fund | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk/Return [Heading] | oef_RiskReturnHeading | GMO HIGH YIELD FUND | ||||
| Objective [Heading] | oef_ObjectiveHeading | Investment objective | ||||
| Objective, Primary [Text Block] | oef_ObjectivePrimaryTextBlock |
Total
return in excess of that of its benchmark, the Markit iBoxx USD Liquid High Yield Index.
|
||||
| Expense Heading [Optional Text] | oef_ExpenseHeading | Fees and expenses | ||||
| Expense Narrative [Text Block] | oef_ExpenseNarrativeTextBlock |
The
table below describes the fees and expenses that you may bear for each class of shares if you buy, hold, and sell shares of the Fund.
You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which
are not reflected in the table and example below.
|
||||
| Operating Expenses Caption [Optional Text] | oef_OperatingExpensesCaption | Annual Fund operating expenses (expenses that you bear each year as a percentage of the value of your investment) | ||||
| Expense Example [Heading] | oef_ExpenseExampleHeading | Example | ||||
| Expense Example Narrative [Text Block] | oef_ExpenseExampleNarrativeTextBlock |
This
example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The example assumes
that you invest $10,000 in the Fund for the time periods indicated, regardless of whether or not you sell your shares at the end of such
periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses with respect
to ETF Class shares remain the same as those shown in the table. The one year amounts shown reflect the expense reimbursement and waiver
noted in the expense table. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
||||
| Portfolio Turnover [Heading] | oef_PortfolioTurnoverHeading | Portfolio turnover | ||||
| Portfolio Turnover [Text Block] | oef_PortfolioTurnoverTextBlock |
The
Fund pays transaction costs, such as commissions, when it buys and sells securities. A higher portfolio turnover rate may result in higher
transaction costs and, for holders of Fund shares subject to U.S. taxes, higher income taxes. These transaction costs, which are not reflected
in Annual Fund operating expenses or in the Example, affect the Fund’s performance. During its fiscal year ended February 28,
2026, the Fund’s portfolio turnover rate (excluding short-term investments) was 160%
of the average value of its portfolio securities.
|
||||
| Portfolio Turnover, Rate | oef_PortfolioTurnoverRate | 160.00% | ||||
| Strategy [Heading] | oef_StrategyHeading | Principal investment strategies | ||||
| Strategy Narrative [Text Block] | oef_StrategyNarrativeTextBlock |
The
Fund’s investment objective is total return (net of fees) in excess of the Markit iBoxx USD Liquid High Yield Index. GMO seeks
to achieve the Fund’s investment objective by applying a systematic approach to portfolio construction. GMO’s research-based
investment process is designed to take advantage of structural inefficiencies GMO has identified within the high yield bond market by
dynamically allocating Fund assets across high yield bond market sectors. GMO uses quantitative models, index sampling techniques and
diversification, liquidity and cost management considerations to make investment decisions for the Fund.
The
Fund invests in U.S. high yield bonds, commonly referred to as “junk bonds,” and other instruments providing high yield
bond exposure, including fallen angel bonds (bonds originally issued as investment grade that have since been downgraded to below investment
grade), short-dated bonds (bonds with short terms to maturity), exchange-traded funds (“ETFs”), and swaps on high yield
bond indices (such
as the credit default swap index (CDX) and the Fund’s benchmark)
and ETFs. The Fund may sell (write) put options and take short positions on the CDX and other high yield bond indices. The Fund also may
invest in non-U.S. high yield bonds and other instruments providing non-U.S. high yield bond exposure. In addition, the Fund may lend
its portfolio securities.
In addition to the bonds and derivative
instruments indicated above, the Fund may invest in a wide variety of exchange-traded and over-the-counter (OTC) derivatives for investment
exposure or hedging purposes, including, without limitation, reverse repurchase agreements, repurchase agreements, options, futures, swap
contracts, swaptions, and foreign currency contracts. The Fund is not limited in its use of derivatives or in the total notional value
of its derivative positions. Leverage is not a principal component of the Fund’s investment strategy. However, because of its derivative
positions, the Fund may at times have gross investment exposure in excess of its net assets (i.e., the Fund may be leveraged) and, therefore,
may be subject to higher risk of loss during those times than if the Fund were not leveraged. The Fund’s performance can depend
substantially on the performance of assets or indices underlying its derivatives even though it does not own those assets or indices.
Under
normal circumstances, the Fund invests directly and indirectly (e.g., through derivatives and ETFs) at least 80% of its assets in high
yield bonds (see “Name Policies”). The
term “bond” includes (i) obligations of an issuer to make payments on future dates of principal, interest (whether
fixed or variable) or both and (ii) synthetic debt instruments created by GMO by investing in derivatives. “High yield bonds”
generally include those bonds rated BB+ and lower by S&P Global Ratings or Ba1 and lower by Moody’s Investors Service, Inc.
They also may include unrated bonds that GMO determines are of similar quality to bonds with those ratings.
The Fund also may invest in U.S. Treasury
Fund, in money market funds unaffiliated with GMO, directly in the types of investments typically held by money market funds, and in fixed
income securities issued by non-U.S. developed countries and their agencies and instrumentalities.
The Fund’s ETF Class operates
as an actively managed exchange-traded fund (“ETF”).
|
||||
| Summary of Definition of Rule 35d-1 Term in Fund Name [Text Block] | fnd_NmRule35d1TermDfnSmryTextBlock | The term “bond” includes (i) obligations of an issuer to make payments on future dates of principal, interest (whether fixed or variable) or both and (ii) synthetic debt instruments created by GMO by investing in derivatives. “High yield bonds” generally include those bonds rated BB+ and lower by S&P Global Ratings or Ba1 and lower by Moody’s Investors Service, Inc. They also may include unrated bonds that GMO determines are of similar quality to bonds with those ratings. | ||||
| Rule 35d-1 Eighty Percent Investment Policy [Text Block] | fnd_NmRule35d1EightyPctInvstmntPlcyTextBlock | Under normal circumstances, the Fund invests directly and indirectly (e.g., through derivatives and ETFs) at least 80% of its assets in high yield bonds (see “Name Policies”). | ||||
| Bar Chart and Performance Table [Heading] | oef_BarChartAndPerformanceTableHeading | Performance | ||||
| Performance Narrative [Text Block] | oef_PerformanceNarrativeTextBlock |
The
bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual
total returns from year to year for the periods indicated and by comparing the Fund’s average annual total returns for different
calendar periods with those of the Fund’s benchmark and a broad-based securities market index intended solely to represent, in
satisfaction of regulatory requirements, the overall domestic fixed income market. The
Fund’s ETF Class shares are a new class and, as of the date of this Prospectus, had not commenced operations. Returns
shown are those of Class VI shares of the Fund, a mutual fund class of shares of the Fund not offered in this Prospectus, and have
not been adjusted to reflect the fees and expenses attributable to ETF Class shares. Class VI shares would have substantially
similar annual returns to ETF Class shares because the shares are invested in the same portfolio of securities, and the annual returns
at NAV (assuming ETF Class shares are bought and sold without any premium or discount) would differ only to the extent that Class VI
shares do not have the same expenses as ETF Class shares. Share classes that bear higher expenses than the share classes shown below would
have lower returns. After-tax returns are calculated
using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Actual after-tax returns depend on your tax situation
and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through
tax-advantaged arrangements (such as a 401(k) plan or individual retirement account). After-tax
returns are shown for Class VI shares only; after-tax returns for other classes will vary. Updated performance
information for the Fund is available at https://www.gmo.com/americas/investment-capabilities/etfs/.
Past performance (before and after taxes) is not an indication
of future performance.
|
||||
| Performance Information Illustrates Variability of Returns [Text] | oef_PerformanceInformationIllustratesVariabilityOfReturns | The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s annual total returns from year to year for the periods indicated and by comparing the Fund’s average annual total returns for different calendar periods with those of the Fund’s benchmark and a broad-based securities market index intended solely to represent, in satisfaction of regulatory requirements, the overall domestic fixed income market. | ||||
| Performance One Year or Less [Text] | oef_PerformanceOneYearOrLess | The Fund’s ETF Class shares are a new class and, as of the date of this Prospectus, had not commenced operations. | ||||
| Performance Availability Website Address [Text] | oef_PerformanceAvailabilityWebSiteAddress | https://www.gmo.com/americas/investment-capabilities/etfs/ | ||||
| Performance Past Does Not Indicate Future [Text] | oef_PerformancePastDoesNotIndicateFuture | Past performance (before and after taxes) is not an indication of future performance. | ||||
| Bar Chart [Heading] | oef_BarChartHeading | Annual Total Returns/Class VI Shares Years Ending December 31 | ||||
| Bar Chart Closing [Text Block] | oef_BarChartClosingTextBlock |
Highest
Quarter: 7.50%
4Q 2023
Lowest Quarter: -11.21% 1Q 2020 Year-to-Date: 1.97% As of 6/30/2026 |
||||
| Year to Date Return, Label [Optional Text] | oef_YearToDateReturnLabel | Year-to-Date: | ||||
| Bar Chart, Year to Date Return, Date | oef_BarChartYearToDateReturnDate | Jun. 30, 2026 | ||||
| Bar Chart, Year to Date Return | oef_BarChartYearToDateReturn | 1.97% | ||||
| Highest Quarterly Return, Label [Optional Text] | oef_HighestQuarterlyReturnLabel | Highest Quarter: | ||||
| Highest Quarterly Return, Date | oef_BarChartHighestQuarterlyReturnDate | Dec. 31, 2023 | ||||
| Highest Quarterly Return | oef_BarChartHighestQuarterlyReturn | 7.50% | ||||
| Lowest Quarterly Return, Label [Optional Text] | oef_LowestQuarterlyReturnLabel | Lowest Quarter: | ||||
| Lowest Quarterly Return, Date | oef_BarChartLowestQuarterlyReturnDate | Mar. 31, 2020 | ||||
| Lowest Quarterly Return | oef_BarChartLowestQuarterlyReturn | (11.21%) | ||||
| Performance Table Heading | oef_PerformanceTableHeading | Average Annual Total Returns Periods Ending December 31, 2025 | ||||
| Index No Deduction for Fees, Expenses, or Taxes [Text] | oef_IndexNoDeductionForFeesExpensesTaxes | (reflects no deduction for fees, expenses, or taxes) | ||||
| Performance Table Uses Highest Federal Rate | oef_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. | ||||
| Performance Table Not Relevant to Tax Deferred | oef_PerformanceTableNotRelevantToTaxDeferred | Actual after-tax returns depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant if you are tax-exempt or if you hold your Fund shares through tax-advantaged arrangements (such as a 401(k) plan or individual retirement account). | ||||
| Performance Table One Class of after Tax Shown [Text] | oef_PerformanceTableOneClassOfAfterTaxShown | After-tax returns are shown for Class VI shares only; after-tax returns for other classes will vary. | ||||
| GMO High Yield Fund | GMO High Yield Fund | Risk Lose Money [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock | Many factors can affect this value, and you may lose money by investing in the Fund. | ||||
| GMO High Yield Fund | GMO High Yield Fund | Risk Not Insured [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock | An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency. | ||||
| GMO High Yield Fund | GMO High Yield Fund | Management and Operational Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Management
and Operational Risk – The Fund runs the risk that GMO’s investment techniques will fail to produce
intended results. GMO uses quantitative models as part of its investment process. GMO’s models may not accurately predict future
market movements. In addition, GMO’s models rely on assumptions and data that are subject to limitations (e.g., inaccuracies, staleness)
that could adversely affect their predictive value. The Fund also runs the risk that GMO’s assessment of an investment, including
a security’s fundamental fair (or intrinsic) value, is wrong or that deficiencies in GMO’s or another service provider’s
internal systems or controls will cause losses for the Fund or impair Fund operations.
|
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| GMO High Yield Fund | GMO High Yield Fund | Market Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Market
Risk – Fixed Income – The market price of a fixed income investment can decline due to
market-related factors, including rising interest or inflation rates and widening credit spreads, or decreased liquidity due, for example,
to market uncertainty about the value of a fixed income investment (or class of fixed income investments).
|
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| GMO High Yield Fund | GMO High Yield Fund | Credit Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Credit
Risk – The Fund runs the risk that the issuer or guarantor of a fixed income investment (including a sovereign
or quasi-sovereign debt issuer) or the obligor of an obligation underlying an asset-backed security will be unable or unwilling to satisfy
its obligation to pay principal and interest or otherwise to honor its obligations in a timely manner or at all. The market price of a
fixed income investment will normally decline as a result of the failure of an issuer, guarantor, or obligor to meet its payment obligations
or in anticipation of such a failure. Below investment grade investments (commonly referred to as high yield or “junk” bonds)
have speculative characteristics and are subject to greater credit risk than other fixed income investments. Negative changes in economic
conditions or other circumstances are more likely to impair the ability of issuers of below investment grade investments to make principal
and interest payments than issuers of investment grade investments. Investments in distressed or defaulted or other low quality debt investments
generally are considered speculative and are subject to substantial risks not normally associated with investments in higher quality securities,
including adverse business, financial or economic conditions that lead to their issuers’ payment defaults and insolvency proceedings.
In particular, distressed or defaulted obligations might be repaid, if at all, only after lengthy workout or bankruptcy proceedings during
which the issuer might not make any interest or other payments, and the Fund may incur additional expenses in its effort to be repaid.
If GMO’s assessment of the eventual recovery value of a distressed or defaulted debt investment proves incorrect, the Fund may
lose a substantial portion or all of its original investment or may be required to accept cash or instruments worth less than its original
investment.
|
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| GMO High Yield Fund | GMO High Yield Fund | Derivatives and Short Sales Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Derivatives and Short Sales Risk – The
use of derivatives involves the risk that their value may not change as expected relative to changes in the value of the underlying assets,
pools of assets, rates, currencies or indices. Derivatives also present other risks, including market risk, illiquidity risk, currency
risk, credit risk, leveraging risk, commodities risk and counterparty risk. The market price of an option is affected by many factors,
including changes in the market prices or dividend rates of underlying securities (or in the case of indices, the securities in such indices);
the time remaining before expiration; changes in interest rates or exchange rates; and changes in the actual or perceived volatility of
the relevant index or underlying securities. The Fund typically creates short investment exposure by selling securities short or by taking
a derivative position in which the value of the derivative moves in the opposite direction from the price of an underlying asset, pool
of assets, rate, currency or index. Specifically, the net asset value of the Fund’s shares will be adversely affected if the securities
or other assets that are the subject of the Fund’s short exposures appreciate in value. The risk of loss associated with derivatives
that provide short investment exposure and short sales of securities is theoretically unlimited.
|
||||
| GMO High Yield Fund | GMO High Yield Fund | Illiquidity Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Illiquidity
Risk – Low trading volume, lack of a market maker, large position size, or legal restrictions increase the
risk that the Fund or an underlying fund is limited or prevented from selling particular securities or closing derivative positions at
desirable prices at a particular time or at all.
|
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| GMO High Yield Fund | GMO High Yield Fund | Focused Investment Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Focused
Investment Risk – Investments in countries, regions, asset classes, sectors, industries, currencies, or issuers
that are subject to the same or similar risk factors and investments whose market prices are closely correlated are subject to higher
overall risk than investments that are more diversified or whose market prices are not as closely correlated.
|
||||
| GMO High Yield Fund | GMO High Yield Fund | Counterparty Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Counterparty
Risk – The Fund runs the risk that the counterparty to a derivatives contract or a clearing member used by
the Fund to hold a cleared derivatives contract is unable or unwilling to make timely settlement payments, return the Fund’s collateral
or otherwise honor its obligations.
|
||||
| GMO High Yield Fund | GMO High Yield Fund | Fund of Funds Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Fund
of Funds Risk – The Fund is indirectly exposed to all of the risks of an investment in the underlying funds
in which it invests, including the risk that those underlying funds will not perform as expected.
|
||||
| GMO High Yield Fund | GMO High Yield Fund | Currency Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Currency
Risk – Fluctuations in exchange rates can adversely affect the market value of the Fund’s foreign currency
holdings and investments denominated in foreign currencies.
|
||||
| GMO High Yield Fund | GMO High Yield Fund | Market Disruption and Geopolitical Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Market
Disruption and Geopolitical Risk – Geopolitical and other events (e.g., wars, pandemics, sanctions, terrorism,
diplomatic tensions, dramatic changes in regulatory and/or foreign policy, cyberattacks, and rapid technological developments such as
artificial intelligence) often disrupt securities markets and adversely affect the general economy or particular economies and markets.
Those events, as well as other changes in non-U.S. and U.S. economic and political conditions, could exacerbate other risks or otherwise
reduce the value of the Fund’s investments.
|
||||
| GMO High Yield Fund | GMO High Yield Fund | Non-U.S. Investment Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Non-U.S.
Investment Risk – The market prices of many non-U.S. securities fluctuate more than those of U.S. securities.
Many non-U.S. securities markets are less stable, smaller, less liquid, and less regulated than U.S. securities markets, and the cost
of trading in those markets often is higher than in U.S. securities markets. In addition, non-U.S. securities issuers often are not subject
to as much regulation as U.S. issuers, and the reporting, recordkeeping, accounting, custody, and auditing standards to which those issuers
are subject often are not as rigorous as U.S. standards. In addition, the Fund is subject to taxation by countries other than the United
States, including potentially on a retroactive basis, on (i) capital gains it realizes or dividends, interest, or other amounts it
realizes or accrues in respect of non-U.S. investments; (ii) transactions in those investments; and (iii) repatriation of proceeds
generated from the sale or other disposition of those investments. Also, the Fund needs a license to invest directly in securities traded
in many non-U.S. securities markets, and the Fund is subject to the risk that its license is terminated or suspended. In some non-U.S.
securities markets, prevailing custody and trade settlement practices (e.g., the requirement to pay for securities prior to receipt) expose
the Fund to credit and other risks. Further, adverse changes in investment regulations, capital requirements or exchange controls could
adversely affect the value of the Fund’s investments. The risks above (such as substantial price fluctuations and market instability,
illiquidity and lack of regulation) and other risks (e.g., nationalization, expropriation or other confiscation of assets of non-U.S.
issuers, difficulties enforcing legal judgments or contractual rights and geopolitical risks) tend to be higher for investments in the
securities of issuers tied economically to emerging countries. The economies of emerging countries often depend predominantly on only
a few industries or commodities and often are more volatile than the economies of developed countries.
|
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| GMO High Yield Fund | GMO High Yield Fund | Large Transactions Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Large
Transactions Risk – To the extent that a large number of shares of the Fund is held by a single shareholder
(e.g., an institutional investor or another GMO Fund) or a group of shareholders with a common investment strategy (e.g., GMO asset allocation
accounts), the Fund is subject to the risk that a redemption by (or caused by) that shareholder or group will require the Fund to sell
investments at disadvantageous prices, disrupt the Fund’s operations, lead to temporary overexposure to the Fund’s intended
investment program or force the Fund’s liquidation. The Fund also may be subject to these effects when a number of shareholders
collectively redeem or sell a large amount of Fund shares.
|
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| GMO High Yield Fund | GMO High Yield Fund | Leveraging Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Leveraging
Risk – The use of derivatives, short sales and securities lending can create leverage. Leverage increases
the Fund’s losses when the value of its investments (including derivatives) declines. In addition, the Fund’s portfolio
will be leveraged if it exercises its right to delay payment on a redemption and the value of the Fund’s assets declines between
the time a redemption request is treated as being received by the Fund and the time the Fund liquidates assets to fund that redemption.
|
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| GMO High Yield Fund | GMO High Yield Fund | Futures Contracts Risk [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
Futures Contracts Risk – The
loss to the Fund resulting from its use of futures contracts is potentially unlimited. Futures markets are highly volatile, and the use
of futures contracts increases the volatility of the Fund’s net asset value. A liquid market may not exist for any particular futures
contract at any particular time, and the Fund may be unable when it wishes to terminate its exposure under that contract. When the Fund
uses futures contracts for hedging purposes, it runs the risk that changes in the prices of the contracts will not correlate perfectly
with changes in the securities, index, or other asset underlying the contracts or movements in the prices of the Fund’s investments
that are subject to the hedge. In addition, the Fund may be unable to recover or may be delayed in recovering margin or other amounts
deposited with a futures commission merchant or futures clearinghouse. Foreign futures contracts are often less liquid and more volatile
than U.S. futures contracts.
|
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| GMO High Yield Fund | GMO High Yield Fund | ETF Risks [Member] | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Risk [Text Block] | oef_RiskTextBlock |
ETF
Risks – The Fund’s ETF Class operates as an ETF and, as a result of this structure, ETF Class shares
are exposed to the following risks:
•
Costs
of Buying or Selling Shares Risk. Due to the costs of buying or selling the Fund’s ETF Class shares, including
brokerage commissions imposed by brokers and the variance in bid-ask spreads, frequent trading of ETF Class shares may significantly reduce
investment results and an investment in ETF Class shares may not be advisable for investors who anticipate regularly making small investments.
•
Limited
Authorized Participants, Market Makers and Liquidity Providers Risk. Because the Fund’s ETF Class operates
as an ETF, typically only a limited number of institutional investors (known as “Authorized Participants”) are authorized
to purchase and redeem shares ETF Class shares directly from the Fund. Retail investors cannot transact in ETF Class shares directly with
the Fund. In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace to transact in ETF
Class shares, there may be demand for ETF Class shares, thereby increasing the market price above net asset value (“NAV”),
or lack of demand, which may decrease the market price below NAV, or in stressed market conditions, the market for ETF Class shares may
become less liquid in response to deteriorating liquidity in the markets for the Fund’s underlying portfolio holdings. As a result
of these considerations, ETF Class shares may trade at a material premium or discount to their NAV or these factors may, in turn, lead
to wider spreads between the bid and ask price of ETF Class shares. In addition, the ETF Class shares may face possible delisting if:
(i) Authorized Participants exit the business or otherwise become unable to process creation and/or redemption orders and no other
Authorized Participants step forward to perform these services, or (ii) market makers and/or liquidity providers exit the business
or significantly reduce their business activities and no other entities step forward to perform their functions.
•
Trading
Risk. The Fund’s ETF Class shares may trade on the NYSE Arca, Inc. (the “Exchange”) above
(premium) or below (discount) their NAV. In stressed market conditions, the market for ETF Class shares may become less liquid in response
to deteriorating liquidity in the markets for the Fund’s underlying portfolio holdings, which may increase the variance between
the market price of the ETF Class shares and the value of the Fund’s underlying holdings attributable to ETF Class shares. This
can be reflected as a spread between the bid and ask prices for the ETF Class shares quoted during the day or a premium or discount in
the closing price from their NAV. In addition, although the Fund’s ETF Class shares are currently listed on the Exchange, there
can be no assurance that an active trading market for ETF Class shares will develop or be maintained. Trading in ETF Class shares may
be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in ETF Class shares of the Fund inadvisable.
•
Cash
Transactions Risk. The Fund may effect some of its creations and redemptions of ETF Class shares for cash, rather
than in-kind securities. As a result, the Fund may have to sell portfolio securities at inopportune times in order to obtain the cash
needed to meet redemption orders. This may cause the Fund to sell a security and recognize ordinary income, or a capital gain or loss
that might not have been incurred if it had made a redemption in-kind. The use of cash creations and redemptions may also cause the Fund’s
ETF Class shares to trade in the market at wider bid-ask spreads or greater premiums or discounts to their NAV. In effecting creations
and redemptions in ETF Class shares in exchange for cash, the Fund may incur certain costs, including brokerage costs in connection with
investing cash received and may recognize capital gains in connection with cash redemptions, unlike an ETF that effects creations and
redemptions only in-kind. In addition, costs could be imposed on the Fund which would have the effect of decreasing the Fund’s
NAV to the extent the costs are not offset by a transaction fee payable by an Authorized Participant.
•
National
Closed Market Trading Risk. To the extent that the underlying securities or other instruments held by the Fund
trade on foreign exchanges or in foreign markets that may be closed when the securities exchange on which the Fund’s ETF Class
shares trade is open, there are likely to be deviations between the current price of such an underlying security and the last quoted price
for the underlying security (i.e., the Fund’s quote from the closed foreign market). The impact of a closed foreign market on the
Fund is likely to be greater where a large portion of the Fund’s underlying securities or other instruments trade on that closed
foreign market or when the foreign market is closed for unscheduled reasons. These deviations could result in premiums or discounts to
the NAV of the Fund’s ETF Class shares that may be greater than those experienced by other ETFs.
|
||||
| GMO High Yield Fund | GMO High Yield Fund | ETF Class | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Management Fees (as a percentage of Assets) | oef_ManagementFeesOverAssets | 0.50% | [1] | |||
| Distribution and Service (12b-1) Fees | oef_DistributionAndService12b1FeesOverAssets | 0.00% | ||||
| Other Expenses (as a percentage of Assets): | oef_OtherExpensesOverAssets | 0.30% | [2] | |||
| Expenses (as a percentage of Assets) | oef_ExpensesOverAssets | 0.80% | ||||
| Fee Waiver or Reimbursement | oef_FeeWaiverOrReimbursementOverAssets | (0.44%) | [1] | |||
| Net Expenses (as a percentage of Assets) | oef_NetExpensesOverAssets | 0.36% | ||||
| Fee Waiver or Reimbursement over Assets, Date of Termination | oef_FeeWaiverOrReimbursementOverAssetsDateOfTermination | Sep. 30, 2027 | ||||
| Other Expenses, New Fund, Based on Estimates [Text] | oef_OtherExpensesNewFundBasedOnEstimates | Because ETF Class shares of the Fund are new, “Other expenses” are estimated amounts for the current fiscal year based on the expenses of Class R6 shares of the Fund. | ||||
| Expense Example, with Redemption, 1 Year | oef_ExpenseExampleYear01 | $ 37 | ||||
| Expense Example, with Redemption, 3 Years | oef_ExpenseExampleYear03 | 211 | ||||
| Expense Example, with Redemption, 5 Years | oef_ExpenseExampleYear05 | 401 | ||||
| Expense Example, with Redemption, 10 Years | oef_ExpenseExampleYear10 | $ 949 | ||||
| GMO High Yield Fund | Bloomberg U.S. Aggregate Index (reflects no deduction for fees, expenses, or taxes) | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 7.30% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | (0.36%) | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 2.10% | ||||
| GMO High Yield Fund | Markit iBoxx USD Liquid High Yield Index (Fund benchmark) (returns reflect no deduction for fees, expenses, or taxes, but are net of withholding tax on dividend reinvestments) | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 8.83% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 4.34% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 5.07% | ||||
| GMO High Yield Fund | Class VI | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Annual Return [Percent] | oef_AnnlRtrPct | 14.33% | ||||
| Annual Return [Percent] | oef_AnnlRtrPct | 5.47% | ||||
| Annual Return [Percent] | oef_AnnlRtrPct | 4.99% | ||||
| Annual Return [Percent] | oef_AnnlRtrPct | (8.03%) | ||||
| Annual Return [Percent] | oef_AnnlRtrPct | 12.95% | ||||
| Annual Return [Percent] | oef_AnnlRtrPct | 7.93% | ||||
| Annual Return [Percent] | oef_AnnlRtrPct | 9.39% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 9.39% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 5.19% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 5.93% | ||||
| Performance Inception Date | oef_PerfInceptionDate | Jun. 25, 2018 | ||||
| GMO High Yield Fund | Class VI | After Taxes on Distributions | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 6.98% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 1.54% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 2.71% | ||||
| GMO High Yield Fund | Class VI | After Taxes on Distributions and Sales | ||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 5.55% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 2.33% | ||||
| Average Annual Return, Percent | oef_AvgAnnlRtrPct | 3.12% | ||||
| ||||||