| Label | Element | Value | ||||||
|---|---|---|---|---|---|---|---|---|
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit Fund | ||||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||||
| Risk/Return [Heading] | oef_RiskReturnHeading | GMO MULTI-ASSET CREDIT FUND | ||||||
| Objective [Heading] | oef_ObjectiveHeading | Investment objective | ||||||
| Objective, Primary [Text Block] | oef_ObjectivePrimaryTextBlock |
Total
return and capital preservation.
|
||||||
| 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.
|
||||||
| Shareholder Fees Caption [Optional Text] | oef_ShareholderFeesCaption | Annual Fund operating expenses (expenses that you bear each year as a percentage of the value of your investment) | ||||||
| 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 [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 applicable expense reimbursements
and waivers 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 initial fiscal period from May 21,
2025 through February 28, 2026, the Fund’s portfolio turnover rate (excluding short-term investments) was 42%
of the average value of its portfolio securities. That portfolio turnover rate includes investments in U.S. Treasury Fund, which the Fund
uses as a short-term investment vehicle for cash management. The Fund’s portfolio turnover rate during its initial fiscal period
from May 21, 2025 through February 28, 2026, excluding transactions in U.S. Treasury Fund and other short-term investments,
was 18% of the average value of its portfolio securities.
|
||||||
| Portfolio Turnover, Rate | oef_PortfolioTurnoverRate | 42.00% | ||||||
| Strategy [Heading] | oef_StrategyHeading | Principal investment strategies | ||||||
| Strategy Narrative [Text Block] | oef_StrategyNarrativeTextBlock |
GMO
seeks to achieve the Fund’s investment objective by investing the Fund’s assets in the sectors within the fixed income market
that GMO believes offer the most attractive risk-adjusted returns. GMO utilizes an investment process that incorporates a top-down and
bottom-up
research-driven framework that relies on both fundamental and quantitative
techniques designed to take advantage of relative value opportunities within the fixed income markets. The Fund is a fund of funds and
invests primarily in other funds managed by GMO whether now existing or created in the future (“underlying GMO Funds”),
including GMO MAC Implementation Fund, GMO Emerging Country Debt Fund, GMO Emerging Markets Debt Total Return Fund, GMO High Yield Fund,
GMO Opportunistic Income Fund, GMO Systematic Investment Grade Credit ETF and GMO Ultra-Short Income ETF.
In deciding how to allocate Fund assets
across fixed income sectors, GMO uses various techniques to evaluate the relative attractiveness of particular markets utilizing a variety
of inputs. GMO uses its quantitative forecasts of fixed income asset class returns as well as its proprietary risk modeling for corporate
defaults, credit risk and interest rates as part of its top-down investment process. GMO also may consider the relative attractiveness
of yield curve and duration positions across sectors of the fixed income market. In addition, GMO seeks to identify opportunities arising
from unusual market conditions (such as markets with heightened volatility, significant market declines, or widespread asset price dislocations)
not otherwise identified by its quantitative models and uses various portfolio construction techniques to manage risk. The models and
techniques used by GMO take into account value criteria, quality factors (including ESG (environmental, social, and governance) criteria
in some cases), momentum, and liquidity. The Fund may invest in any sector of the bond market and is not required to maintain a minimum
or maximum allocation of investments in any one sector. The Fund may invest in bonds of any maturity, duration, and credit quality. GMO
changes the Fund’s holdings of particular asset classes in response to changes in GMO’s investment outlook and its assessment
of market valuations and may use redemptions or purchases of Fund shares to rebalance the Fund’s investments. The factors GMO considers
and investment methods GMO uses can change over time.
In pursuing its investment program,
the Fund may invest in bonds denominated in various currencies, including non-U.S. and U.S. government bonds, agency bonds, leveraged
loans and corporate bonds, asset-backed securities, emerging country sovereign and quasi-sovereign debt securities, investment grade bonds,
below investment grade bonds (commonly referred to as “high yield” or “junk bonds,”), and inflation-indexed
bonds.
The Fund also may invest in exchange-traded
funds (ETFs) and exchange-traded and over-the-counter (OTC) derivatives, including futures contracts, currency options, forward currency
contracts, repurchase agreements and reverse repurchase agreements, swap contracts (such as credit default swaps, swaps on securities
and securities indices, total return swaps, interest rate swaps, currency swaps, cross currency basis swaps, commodity swaps, inflation
swaps, municipal swaps, and other types of swaps), interest rate options, and other types of derivatives. In addition, the Fund may lend
its portfolio securities. The Fund is not limited in its use of derivatives or in the total notional value of its derivative exposure.
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.
GMO does not seek to maintain a specified
interest rate duration for the Fund, and the Fund’s interest rate duration will change depending on the Fund’s investments
and GMO’s assessment of different sectors of the bond market. The Fund’s interest rate duration may be positive or negative.
The Fund may invest in securities of companies of any market capitalization.
Under
normal circumstances, the Fund invests directly or indirectly (e.g., through underlying GMO Funds) at least 80% of its assets in credit-related
investments (see “Name Policies”). The
term “credit-related investments” 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 (e.g.,
a futures contract, swap contract, currency forward, or option).
In seeking to achieve the Fund’s
investment objective, GMO may invest a significant portion of the Fund’s net assets in cash and cash equivalents. The Fund may
also invest in GMO U.S. Treasury Fund, in money market funds unaffiliated with GMO, and directly in the types of investments typically
held by money market funds.
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 “credit-related investments” 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 (e.g., a futures contract, swap contract, currency forward, or option). | ||||||
| Rule 35d-1 Eighty Percent Investment Policy [Text Block] | fnd_NmRule35d1EightyPctInvstmntPlcyTextBlock | Under normal circumstances, the Fund invests directly or indirectly (e.g., through underlying GMO Funds) at least 80% of its assets in credit-related investments (see “Name Policies”). | ||||||
| Bar Chart and Performance Table [Heading] | oef_BarChartAndPerformanceTableHeading | Performance | ||||||
| Performance Narrative [Text Block] | oef_PerformanceNarrativeTextBlock |
Because
the Fund had not yet completed a full calendar year of operations as of the date of this Prospectus, performance information for the Fund
is not included.
|
||||||
| Performance One Year or Less [Text] | oef_PerformanceOneYearOrLess | Because the Fund had not yet completed a full calendar year of operations as of the date of this Prospectus, performance information for the Fund is not included. | ||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit 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 Multi-Asset Credit Fund | GMO Multi-Asset Credit 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 Multi-Asset Credit Fund | GMO Multi-Asset Credit 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. In addition, investments in emerging country sovereign or quasi-sovereign debt are subject to a heightened
risk that the issuer responsible for repayment of the debt may be unable or unwilling to pay interest and repay principal when due, and
the Fund may lack recourse against the issuer in the event of a default. Investments in quasi-sovereign debt also are subject to the risk
that the issuer will default independently of its sovereign. 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.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit Fund | Market Risk – Fixed Income [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). In addition, the market prices
of emerging country sovereign and quasi-sovereign debt investments can decline due to uncertainty about their credit quality and the reliability
of their payment streams.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit Fund | Market Risk – Asset-Backed Securities [Member] | ||||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||||
| Risk [Text Block] | oef_RiskTextBlock |
Market
Risk – Asset-Backed Securities – The market price of asset-backed securities, like that
of other fixed income investments, can decline for a variety of reasons, including increases in interest rates. In addition, the market
price can decrease due to a reduction in or decrease in the reliability of their payment streams. Payment streams associated with asset-backed
securities held by the Fund depend on many factors (e.g., the cash flow generated by the assets backing the securities, deal structure,
and creditworthiness of any credit-support provider), and a problem in any of these factors can lead to a reduction in the payment stream
GMO expected the Fund to receive when the Fund purchased the asset-backed security. The liquidity of asset-backed securities (particularly
below investment grade asset-backed securities) may change over time. During periods of deteriorating economic conditions, such as recessions,
or periods of rising unemployment, delinquencies and losses generally increase, sometimes dramatically, for asset-backed securities whose
underlying assets consist of loans, sales contracts, receivables and other obligations.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit 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.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit 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 Multi-Asset Credit Fund | GMO Multi-Asset Credit 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 Multi-Asset Credit Fund | GMO Multi-Asset Credit 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.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit 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 Multi-Asset Credit Fund | GMO Multi-Asset Credit 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.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit 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 Multi-Asset Credit Fund | GMO Multi-Asset Credit 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 Multi-Asset Credit Fund | GMO Multi-Asset Credit 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. 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. 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.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit 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.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit 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 Multi-Asset Credit Fund | GMO Multi-Asset Credit 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.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit Fund | Smaller Company Risk [Member] | ||||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||||
| Risk [Text Block] | oef_RiskTextBlock |
Smaller
Company Risk – Smaller companies may have limited product lines, markets, or financial resources, lack the
competitive strength of larger companies, have less experienced managers or depend on a few key employees. The securities of companies
with smaller market capitalizations often are less widely held and trade less frequently and in lesser quantities, and their market prices
often fluctuate more, than the securities of companies with larger market capitalizations.
|
||||||
| GMO Multi-Asset Credit Fund | GMO Multi-Asset Credit 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 Multi-Asset Credit Fund | GMO Multi-Asset Credit Fund | ETF Class | ||||||||
| Prospectus [Line Items] | oef_ProspectusLineItems | |||||||
| Management Fees (as a percentage of Assets) | oef_ManagementFeesOverAssets | 0.55% | [1] | |||||
| Distribution and Service (12b-1) Fees | oef_DistributionAndService12b1FeesOverAssets | 0.00% | ||||||
| Other Expenses (as a percentage of Assets): | oef_OtherExpensesOverAssets | 0.23% | [2] | |||||
| Acquired Fund Fees and Expenses | oef_AcquiredFundFeesAndExpensesOverAssets | 0.37% | [3] | |||||
| Expenses (as a percentage of Assets) | oef_ExpensesOverAssets | 1.15% | ||||||
| Fee Waiver or Reimbursement | oef_FeeWaiverOrReimbursementOverAssets | (0.54%) | [1] | |||||
| Net Expenses (as a percentage of Assets) | oef_NetExpensesOverAssets | 0.61% | ||||||
| Expense Example, with Redemption, 1 Year | oef_ExpenseExampleYear01 | $ 62 | ||||||
| Expense Example, with Redemption, 3 Years | oef_ExpenseExampleYear03 | 312 | ||||||
| Expense Example, with Redemption, 5 Years | oef_ExpenseExampleYear05 | 581 | ||||||
| Expense Example, with Redemption, 10 Years | oef_ExpenseExampleYear10 | $ 1,349 | ||||||
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