Investment Risks - Pathfinder Disciplined Midcap Equity ETF
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Oct. 16, 2026 |
| Common Stock Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | Common Stock Risk. Investments in common stocks are subject to market, economic and business risks
that will cause their price to fluctuate over time. Therefore, an investment in the Fund may be more suitable for long-term investors
who can bear the risk of these fluctuations. |
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| Cyber Security Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | Cyber Security Risk. Cyber security risk is the risk of an unauthorized breach and access to Fund
assets, Fund or customer data (including private shareholder information), or proprietary information, or the risk of an incident occurring
that causes the Fund, the Adviser, the Fund’s investment Sub-Adviser, custodian, transfer agent, distributor and other service providers
and financial intermediaries to suffer data breaches, data corruption or lose operational functionality or prevent Fund investors from
purchasing, redeeming or exchanging shares or receiving distributions. The use of artificial intelligence and machine learning could exacerbate
these risks. The Fund and the Adviser have limited ability to prevent or mitigate cyber security incidents affecting third-party service
providers and such third-party service providers may have limited indemnification obligations to the Fund or the Adviser. Successful cyber-attacks
or other cyber-failures or events affecting the Fund or its service providers may adversely impact and cause financial losses to the Fund
or its shareholders. Issuers of securities in which the Fund invests are also subject to cyber security risks, and the value of these
securities could decline if the issuers experience cyber-attacks or other cyber-failures. |
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| Equity Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | Equity Risk. The value of the Fund’s portfolio holdings may fluctuate in response to the
risk that the prices of equity securities, including common stock, rise and fall daily. These price movements may result from factors
affecting individual companies, industries or the securities market as a whole. In addition, equity markets tend to move in cycles, which
may cause stock prices to fall over short or extended periods of time. Equity securities generally have greater price volatility than
debt securities. |
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| ETF Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | ETF Risk. The Fund is
an ETF, and, as a result of an ETF’s structure, it is exposed to the following risks:
“Authorized Participants, Market Makers and Liquidity Providers Concentration Risk,”
“Secondary Market Trading Risk,” and “Shares May Trade at Prices Other
Than NAV Risk.” |
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| Authorized Participants, Market Makers and Liquidity Providers Concentration Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| ○ | Authorized
Participants, Market Makers and Liquidity Providers Concentration Risk. Only an authorized
participant (“AP”) may engage in creation or redemption transactions directly
with the Fund. The Fund has a limited number of financial institutions that are institutional
investors and may act as APs. In addition, there may be a limited number of market makers
and/or liquidity providers in the marketplace. To the extent either of the following events
occur, Shares may trade at a material discount to net asset value (“NAV”) and
possibly face delisting: (i) APs exit the business or otherwise become unable to process
creation and/or redemption orders and no other APs 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.
These events, among others, may lead to the Shares trading at a premium or discount to NAV.
Thus, you may pay more (or less) than the NAV when you buy Shares in the secondary market,
and you may receive less (or more) than NAV when you sell those Shares in the secondary market.
A diminished market for an ETF’s shares substantially increases the risk that a shareholder
may pay considerably more or receive significantly less than the underlying value of the
ETF shares bought or sold. In periods of market volatility, APs, market makers and/or liquidity
providers may be less willing to transact in Shares. |
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| Secondary Market Trading Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| ○ | Secondary Market Trading Risk. Although Shares are listed
on a national securities exchange, the Nasdaq Stock Market LLC (the “Exchange”),
and may be traded on U.S. exchanges other than the Exchange, there can be no assurance that an active or liquid trading market for them
will develop or be maintained. In addition, trading in Shares on the Exchange may be halted. Trading may be halted because of market
conditions or for reasons that, in the view of the Exchange, make trading in the Fund inadvisable. These may include: (a) the extent
to which trading is not occurring in the securities and/or the financial instruments composing the Fund’s portfolio; or (b) whether
other unusual conditions or circumstances detrimental to the maintenance of a fair and orderly market are present. During periods
of market stress, there may be times when the market price of Shares is more than the NAV intra-day (premium) or less than the NAV intra-day
(discount). This risk is heightened in times of market volatility or periods of steep market declines. |
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| Shares May Trade at Prices Other Than NAV Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| ○ | Shares May Trade at Prices Other Than NAV Risk. As with all ETFs, Shares may be
bought and sold in the secondary market at market prices. There is a risk that market prices for Fund Shares will vary significantly from
the Fund’s NAV. Where all or a portion of the Fund’s underlying securities trade in a foreign market that is closed when the
market in which the Fund’s Shares are listed is open for trading, there may be changes between the last quote of the underlying
securities’ value in the closed foreign market and the value of such underlying securities during the Fund’s domestic trading
day. |
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| Large Shareholder Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | Large Shareholder Risk. Certain large shareholders, including APs, may from time to time own a
substantial amount of the Fund’s Shares. There is no requirement that these shareholders maintain their investment in the Fund.
There is a risk that such large shareholders or that the Fund’s shareholders generally may redeem all or a substantial portion of
their investments in the Fund in a short period of time, which could have a significant negative impact on the Fund’s NAV, liquidity,
and brokerage costs. Large redemptions could also impact the Fund’s ability to implement its investment strategy. |
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| Management Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | Management Risk. The Fund is subject to the risk of poor investment selection. In other words,
the individual investments of the Fund may not perform as well as expected, and/or the Fund’s portfolio management practices may not work
to achieve their desired result. |
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| Market Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | Market Risk. The NAV of the Fund will change with changes in the market value of its portfolio
positions. Investors may lose money. The value of investments held by the Fund may increase or decrease in response to economic, political,
financial, public health crises (such as epidemics or pandemics) or other disruptive events (whether real, expected or perceived) in the
U.S. and global markets. Rapid changes in prices or liquidity, which often are not anticipated and can relate to events not connected
to particular investments, may limit the ability of the Fund to dispose of its assets at the price or time of its choosing and can result
in losses. Changes in prices may be temporary or may last for extended periods. |
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| Mid-Capitalization Companies Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | Mid-Capitalization Companies
Risk. Investments in securities of these companies may involve greater risks than investments
in larger, more established companies do. The prices of securities of mid-cap companies tend
to be more vulnerable to adverse developments specific to a company or its industry, or the
securities markets generally, than are securities of larger capitalization companies. |
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| New Fund Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | New Fund Risk. The Fund
is a newly organized management investment company with no operating history. In addition,
there can be no assurance that the Fund will grow to, or maintain, an economically viable
size, in which case the Board may determine to liquidate the Fund. |
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| Preferred Stock Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | Preferred Stock Risk. Preferred stocks
are subject to the risks associated with other types of equity securities, as well as additional risks, such as potentially greater volatility
and risks related to deferral, non-cumulative dividends, subordination, liquidity, limited voting rights, and special redemption rights. |
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| Quantitative Trading Strategies Risk [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
| • | Quantitative Trading Strategies
Risk. The Adviser utilizes quantitative models to select Fund investments. Securities
or other investments selected using quantitative models may perform differently from the
market as a whole or from their expected performance for many reasons, including factors
used in building the quantitative analytical framework, the weights placed on each factor,
and changing sources of market returns, among others. Any errors or imperfections in quantitative
analyses or models, or in the data on which they are based, could adversely affect the ability
of the Adviser to use such analyses or models effectively, which in turn could adversely
affect the Fund’s performance. There can be no assurance that these methodologies will
help the Fund to achieve its investment objective. |
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| Risk Lose Money [Member] |
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| Prospectus [Line Items] |
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| Risk [Text Block] |
Loss of
money is a risk of investing in the Fund.
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