Investment Risks - CCM Affordable Housing MBS ETF |
Oct. 28, 2026 |
|---|---|
| Interest Rate Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Interest Rate Risk. Interest rate risk is the risk that the value of the debt securities in the Fund’s portfolio will decline or increase depending on the movement of market interest rates. |
| Fixed Income Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Fixed Income Risk. The market value of the Fund’s fixed-income securities responds to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments. Generally, the Fund’s fixed-income securities will decrease in value if interest rates rise and increase in value if interest rates fall. Normally, the longer the maturity or duration of the fixed-income securities the Fund owns, the more sensitive the value of the Fund’s shares will be to changes in interest rates. |
| Prepayment Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Prepayment Risk. Prepayment risk is the risk that the issuer of a debt security will repay principal prior to the scheduled maturity date. |
| Mortgage-Related Securities Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Mortgage-Related Securities Risk. Mortgage-related securities are subject to the same risks as investments in other types of debt securities, including credit risk, interest rate risk, liquidity risk and valuation risk. However, these investments make the Fund more susceptible to adverse economic, political or regulatory events that affect the value of real estate. Mortgage-related securities are also significantly affected by the rate of prepayments and modifications of the mortgage loans underlying those securities, as well as by other factors such as borrower defaults, delinquencies, realized or liquidation losses and other shortfalls. |
| Active Investment Management Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Active Investment Management Risk. The Fund is actively managed. The Adviser’s judgments about the attractiveness, relative value, or potential appreciation of a particular sector, security or investment strategy may prove to be incorrect, and may cause the Fund to incur losses. There can be no assurance that the Adviser’s investment techniques and decisions will produce the desired results. There is no guarantee that the Fund’s investment objective will be achieved. |
| Asset Class Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Asset Class Risk. Securities and other assets in the Fund’s portfolio may underperform in comparison to the general securities markets or other asset classes. |
| Call Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Call Risk. Some debt securities may be redeemed, or “called,” at the option of the issuer before their stated maturity date. |
| Cash Transactions Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Cash Transactions Risk. The Fund will effect some or all of its creations and redemptions for cash rather than in-kind. As a result, an investment in the Fund may be less tax-efficient than an investment in an ETF that effects all of its creations and redemptions in-kind. Because the Fund may effect redemptions for cash, it may be required to sell portfolio securities in order to obtain the cash needed to distribute redemption proceeds. A sale of shares may result in capital gains or losses and may also result in higher brokerage costs. |
| Counterparty Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Counterparty Risk. Fund transactions involving a counterparty are subject to the risk that the counterparty will not fulfill its obligation to the Fund. |
| Credit Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Credit Risk. An issuer or other obligated party of a debt security may be unable or unwilling to make dividend, interest and/or principal payments when due. In addition, the value of a debt security may decline because of concerns about the issuer’s ability or unwillingness to make such payments. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay its financial obligations altogether. |
| Extension Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Extension Risk. Extension risk is the risk that, when interest rates rise, certain obligations will be paid off by the issuer (or other obligated party) more slowly than anticipated, causing the value of these debt securities to fall. |
| Inflation Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions may decline. |
| Liquidity Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Liquidity Risk. The Fund may hold certain investments that may trade over-the-counter or in limited volume or lack an active trading market. Accordingly, the Fund may not be able to sell or close out of such investments at favorable times or prices (or at all), or at the prices approximating those at which the Fund currently values them. The risks associated with illiquid securities may be greater in times of financial stress. |
| Market Price Variance Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Market Price Variance Risk. Fund shares are listed for trading on NYSE Arca (the “Exchange”) and can be bought and sold in the secondary market at prevailing market prices. The market prices of shares will fluctuate in response to changes in the NAV and supply and demand for shares. As a result, the trading prices of Shares may deviate significantly from NAV during periods of market volatility. The Adviser cannot predict whether shares will trade above, below or at their NAV. Given the fact that shares can be created and redeemed in Creation Units, the Adviser believes that large discounts or premiums to the NAV of shares should not be sustained in the long-term. In addition, the securities held by the Fund may be traded in markets that close at a different time than NYSE. Liquidity in those securities may be reduced after the applicable closing times.
The Fund’s investment results are measured based upon the daily NAV of the Fund. Investors purchasing and selling shares in the secondary market may not experience investment results consistent with those experienced by those purchasing and redeeming directly with the Fund. |
| Operational and Technology Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Operational and Technology Risk. Cyber-attacks, disruptions, or failures that affect the Fund’s service providers, index providers, Authorized Participants (as defined below), market makers, counterparties, market participants, or issuers of securities held by the Fund may adversely affect the Fund and its shareholders, including by causing losses for the Fund or impairing Fund operations. |
| Securities Market Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Securities Market Risk. The value of securities owned by the Fund may go up or down, sometimes rapidly or unpredictably, due to factors affecting particular companies or the securities markets generally. |
| Significant Exposure Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Significant Exposure Risk. To the extent that the Fund invests a large percentage of its assets in a single asset class or the securities of issuers within the same country, state, region, industry or sector, an adverse economic, business or political development may affect the value of the Fund’s investments more than if the Fund were more broadly diversified. A significant exposure makes the Fund more susceptible to any single occurrence and may subject the Fund to greater market risk than a fund that is more broadly diversified. |
| Specified Pools Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Specified Pools Risk. The Fund is expected to primarily invest in specified pools of mortgage loans. This may cause the Fund to take longer to fully achieve its principal investment strategy. |
| Trading Issues Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Trading Issues Risk. Although the shares of the Fund are listed for trading on the Exchange, there can be no assurance that an active trading market for such shares will develop or be maintained. |
| Transactions Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Transactions Risk. The Fund may purchase securities via to-be-announced transactions (“TBA Transactions”). Purchasing securities in a TBA Transaction may give rise to investment leverage and may increase the Fund’s volatility. |
| U.S. Government Securities Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | U.S. Government Securities Risk. U.S. government securities are subject to interest rate risk but generally do not involve the credit risks associated with investments in other types of debt securities. As a result, the yields available from U.S. government securities are generally lower than the yields available from other debt securities. U.S. government securities are guaranteed only as to the timely payment of interest and the payment of principal when held to maturity. While securities issued or guaranteed by U.S. federal government agencies (such as Ginnie Mae) are backed by the full faith and credit of the U.S. Department of the Treasury, securities issued by government sponsored entities (such as Fannie Mae and Freddie Mac) are solely the obligation of the issuer and generally do not carry any guarantee from the U.S. government. |
| Valuation Risk | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Valuation Risk. The Fund is subject to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued. |
| Risk Lose Money [Member] | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Investing in any mutual fund involves the risk that the value of your investment in the fund may increase or decrease over time depending on the value of the securities in the fund’s portfolio. Consequently, you may lose all or part of the money you invest in the Fund. |
| Risk Not Insured Depository Institution [Member] | |
| Prospectus [Line Items] | |
| Risk [Text Block] | An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any other government agency. |
| Risk Nondiversified Status [Member] | |
| Prospectus [Line Items] | |
| Risk [Text Block] | Non-Diversification Risk. As a non-diversified fund for purposes of the 1940 Act, the Fund may invest a larger portion of its assets in the securities of fewer issuers than a diversified fund. The Fund’s investment in fewer issuers may result in the Fund’s shares being more sensitive to the economic results of those issuers. An investment in the Fund could fluctuate in value more than an investment in a diversified fund. Although the Fund is “non-diversified” for purposes of the 1940 Act, the Fund intends to comply with the diversification requirements under Subchapter M of the Code in order to be eligible to qualify as a regulated investment company. |