0001104659-11-018258.txt : 20110401 0001104659-11-018258.hdr.sgml : 20110401 20110401162305 ACCESSION NUMBER: 0001104659-11-018258 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20110401 DATE AS OF CHANGE: 20110401 EFFECTIVENESS DATE: 20110401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Grail Advisors ETF Trust CENTRAL INDEX KEY: 0001415845 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-148082 FILM NUMBER: 11731611 BUSINESS ADDRESS: STREET 1: ONE FERRY BUILDING STREET 2: SUITE 255 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 415-677-5862 MAIL ADDRESS: STREET 1: ONE FERRY BUILDING STREET 2: SUITE 255 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 FORMER COMPANY: FORMER CONFORMED NAME: Grail Advisors' Alpha ETF Trust DATE OF NAME CHANGE: 20071022

0001415845 S000027156 Grail McDonnell Intermediate Municipal Bond ETF

C000081956 Grail McDonnell Intermediate Municipal Bond ETF

497 1 a10-24338_7497.htm 497

Grail Advisors ETF Trust is incorporating herein by reference the definitive versions of the Grail McDonnell Intermediate Municipal Bond ETF’s prospectus filed pursuant to Rule 497(c) under the Securities Act of 1933, as amended, on March 14, 2010, SEC Accession No. 0001104659-11-014131. The purpose of this filing is to submit that 497(c) filing in XBRL for that ETF.

EX-101.INS 2 ck0001415845-20110314.xml XBRL INSTANCE DOCUMENT Grail Advisors ETF Trust 2011-03-14 2011-03-14 2011-03-14 Other 0001415845 false 2011-03-14 An investment in the ETF is not a deposit in a bank and it is not guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency. EXAMPLE INVESTMENT OBJECTIVE The ETF's past performance (before and after taxes) is not necessarily an indication of how the ETF will perform in the future. The value of the ETF's holdings may decline, and the ETF's share price may go down. PRINCIPAL RISKS SHAREHOLDER FEES (FEES PAID DIRECTLY FROM YOUR INVESTMENT) None 2012-03-01 0.92 PERFORMANCE Because the ETF has not yet completed a calendar year of investment operations, performance information is not yet available. <pre>The ETF invests, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in debt securities with interest payments exempt from federal income taxes. The ETF will typically invest in municipal securities and will invest, under normal market conditions, primarily in tax exempt general obligation, revenue and private activity bonds and notes, which are issued by or on behalf of states, territories or possessions of the U.S. and the District of Columbia and their political subdivisions, agencies and instrumentalities (including Puerto Rico, the Virgin Islands and Guam). Tax-exempt means that the bonds pay interest that is excluded from gross income for regular federal income tax purposes, although interest paid on municipal securities may be subject to the alternative minimum tax. The ETF's investments generally include municipal securities with a full range of maturities and broad issuer and geographic diversification. While the ETF may invest in securities of any maturity, under normal circumstances, the dollar-weighted average maturity of the portfolio is expected to range from three to ten years. McDonnell, as the ETF's sub-adviser, employs a total return investment strategy which emphasizes sector and security selection and yield curve positioning. Sector and security decisions are reached through robust fundamental credit analysis as well as an assessment that incorporates the sector and security's credit momentum. The total return strategy places a limited dependence on adjusting the portfolio in anticipation of a change in the level of interest rates. The ETF invests primarily in investment grade securities, which are securities rated in one of the top four credit quality categories by at least one nationally recognized statistical rating organization rating that security (a "rating agency"). The ETF considers pre-refunded bonds or escrowed to maturity municipal securities, regardless of rating, to be investment grade securities. The ETF may invest up to 20% of its net assets in high yield securities or below investment-grade securities rated BB+ (or comparable) or below by a rating agency or, if unrated, determined by McDonnell to be of comparable quality. The ETF may invest up to 20% of its assets in taxable debt securities. These may include securities issued by the U.S. Government, its agencies and instrumentalities, corporate debt securities, mortgage-backed and other asset-backed securities, and securities of other investment companies, including other ETFs. The ETF may only invest in U.S. dollar-denominated securities. Unless otherwise stated, all percentage limitations on ETF investments apply at the time of investment.</pre> FUND SUMMARY GRAIL MCDONNELL INTERMEDIATE MUNICIPAL BOND ETF PORTFOLIO TURNOVER <pre>An investment in the ETF involves risk, including those described below. The value of the ETF's holdings may decline, and the ETF's share price may go down. Credit Risk. Credit risk is the risk that the inability or perceived inability of an issuer to make interest and principal payments will cause the value of its securities to decrease, and cause the ETF a loss. If an issuer's financial health deteriorates, it may result in a reduction of the credit rating of the issuer's securities and may lead to the issuer's inability to honor its obligations, including making timely payment of interest and principal. Although a downgrade of a bond's credit ratings may not affect its price, a decline in credit quality may make bonds less attractive, thereby increasing the yield on the bond and driving down the price. Declines in credit quality can result in bankruptcy for the issuer and permanent loss of investment. The fixed income securities held by the ETF are subject to the risk that the issuer will be unwilling or unable to satisfy its obligations to the ETF, including the periodic payment of interest or the payment of principal upon maturity. Rating agencies are private services that provide ratings of the credit quality of fixed income securities. Ratings assigned by a rating agency are not absolute standards of credit quality and do not evaluate market risks. Rating agencies may fail to make timely changes in credit ratings and an issuer's current financial condition may be better or worse than a rating indicates. Further, rating agencies may end coverage of a previously-rated security. The ETF will not necessarily sell a security if its rating is reduced. The ETF's sub-adviser does not rely solely on credit ratings, and develops its own analysis of issuer credit quality. The ETF may purchase unrated securities (which are not rated by a rating agency) if the sub-adviser determines that the security is of comparable quality to a rated security that the ETF may purchase. Unrated securities may be less liquid than comparable rated securities and involve the risk that the sub-adviser may not accurately evaluate the security's comparative credit rating. ETF Risk. The Shares may trade above or below their NAV. The NAV of the ETF will generally fluctuate with changes in the market value of the ETF's holdings. The market prices of Shares, however, will generally fluctuate in accordance with changes in NAV as well as the relative supply of, and demand for, Shares on the Exchange. The trading price of Shares may deviate significantly from NAV during periods of market volatility. The Manager cannot predict whether Shares will trade below, at or above their NAV. Price differences may be due to the fact that supply and demand forces at work in the secondary trading market for Shares are closely related to, but not identical to, the same forces influencing the prices of the securities held by the ETF. However, given that Shares can be purchased and redeemed in Creation Units (unlike shares of closed-end funds, which frequently trade at appreciable discounts from, and sometimes at premiums to, their NAV), and the ETF's portfolio holdings are fully disclosed on a daily basis, large discounts or premiums to the NAV of Shares should not be sustained. Interest Rate Risk. Interest rate risk is the risk that fixed income securities will decline in value because of changes in interest rates. Generally, the value of debt securities falls as interest rates rise. Fixed income securities differ in their sensitivities to changes in interest rates. Fixed income securities with longer effective durations tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter effective durations. Effective duration is determined by a number of factors including coupon rate, whether the coupon is fixed or floating, time to maturity, call or put features, and various repayment features. Liquidity Risk. Liquidity risk exists with respect to investments that are or become difficult to sell. During periods of market turbulence or low trading activity, in order to meet redemptions it may be necessary for the ETF to sell securities at prices or times that are disadvantageous to the ETF. Additionally, the market for certain investments may be or become illiquid independent of any specific adverse changes in the conditions of a particular issuer. To the extent the ETF uses derivatives or invests in lower-rated securities, it will tend to have increased exposure to liquidity risk. The ETF may invest in unregistered securities, including Rule 144A securities, that are purchased directly from the issuer or in the secondary market and are subject to limitations on resale. Limitations on resale may have an adverse effect on the marketability of portfolio securities and the ETF might be unable to dispose of restricted or other illiquid securities promptly or at reasonable prices. The absence of a trading market can make it difficult to ascertain a market value for illiquid investments. Management Risk. Securities selected by McDonnell for the ETF may not perform as expected. This could result in the ETF's underperformance compared to other funds with similar investment objectives. Market Risk. Market risk involves the possibility that the value of the ETF's investments will decline, sometimes unpredictably or rapidly, due to drops in the securities markets generally or particular industries represented in the securities markets. The prices of and the income generated by securities held by the ETF may decline in response to certain events, including those directly involving the companies and governments whose securities are owned by the ETF, general economic and market conditions, regional or global instability, and interest rate fluctuations. Market turbulence in financial markets occurs from time to time at various levels, and can be extreme, resulting in reduced liquidity in credit and fixed income markets, which would likely have a negatively affect on many issuers worldwide and an adverse effect on the ETF. Mortgage-Related and Other Asset-Backed Securities Risk. Generally, rising interest rates tend to extend the duration of fixed rate mortgage-related securities, making them more sensitive to changes in interest rates. As a result, in a period of rising interest rates, if the ETF holds mortgage-related securities, it may exhibit additional volatility. In addition, adjustable and fixed rate mortgage-related securities are subject to prepayment risk. When interest rates decline, borrowers may repay their mortgages sooner than expected. This can reduce the ETF's returns because the ETF may have to reinvest that money at the lower prevailing interest rates. Conversely, when interest rates rise, prepayments may happen more slowly, causing the underlying loans to be outstanding for a longer time, which can cause the market value of the security to fall because the market may view the interest rate as too low for a longer-term investment. An ETF's investments in other asset-backed securities are subject to similar risks and additional risks associated with the nature of the assets and the servicing of those assets. Municipal Securities Risk. Municipal securities are subject to interest rate, credit and market risk. The ETF's investments in municipal securities will be sensitive to events that affect municipal markets, including legislative or political changes and the financial condition of the issuers of municipal securities. The ETF will be more sensitive to a particular adverse economic, business or political development if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation or utilities), industrial development bonds, or in bonds from issuers in a single state. There is no guarantee that all of the ETF's income from municipal securities will be exempt from federal or state income taxes. Income from municipal bonds held by the ETF could be declared taxable due to unfavorable changes in tax laws, adverse interpretations by the Internal Revenue Service or state tax authorities, or noncompliant conduct of a bond issuer. Events occurring after the date of issuance of a municipal bond or after the ETF's acquisition of a municipal bond may result in a determination that interest on that bond is includible in gross income for federal income tax purposes retroactively to its date of issuance. Such a determination may cause a portion of prior distributions by the ETF to its shareholders to be taxable to those shareholders in the year of receipt. Federal or state changes in income or alternative minimum tax rates or in the tax treatment of municipal bonds may make municipal bonds less attractive as investments and cause them to lose value. Non-Investment Grade Securities Risk. Below investment-grade securities, or "junk bonds," are more likely to pose a credit risk, as the issuers of these securities are more likely to have problems making interest and principal payments than issuers of higher-rated securities. Lower-rated securities may be more susceptible to real or perceived adverse economic and competitive industry conditions than higher-grade securities, and prices of these securities may be more sensitive to adverse economic downturns or individual corporate developments. If the issuer of the securities defaults, the ETF may incur additional expenses to seek recovery. The secondary market in which below investment-grade securities are traded may be less liquid than the market for higher grade securities. Less liquidity in the secondary trading markets could adversely affect the price at which the ETF could sell a particular security, and could cause large fluctuations in the ETF's NAV. Adverse publicity and investor perceptions may decrease the value and liquidity of lower-rated securities. Prepayment Risk. If interest rates fall, it is possible that issuers of certain bonds will call, or prepay, their bonds before their maturity date. If a call were exercised by the issuer during a period of declining interest rates, the ETF would likely have to replace the called security with a lower yielding security resulting in a decrease in the ETF's net investment income. Trading Risk. Although the Shares are listed on 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 due to market conditions or for reasons that, in the view of the Exchange, make trading in Shares inadvisable. Further, trading in Shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to the Exchange "circuit breaker" rules. There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the ETF will continue to be met or will remain unchanged. An investment in the ETF is not a deposit in a bank and it is not guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency.</pre> FEES AND EXPENSES PRINCIPAL INVESTMENT STRATEGIES www.grailadvisors.com <pre>Because the ETF has not yet completed a calendar year of investment operations, performance information is not yet available. The ETF's past performance (before and after taxes) is not necessarily an indication of how the ETF will perform in the future. For current performance information, please visit www.grailadvisors.com.</pre> <pre>This table describes the fees and expenses that you may pay if you buy and hold Shares of the ETF.</pre> <div style="display:none">~ http://www.grailadvisors.com/role/OperatingExpensesData_S000027156Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT YOU PAY EACH YEAR AS A PERCENTAGE OF THE VALUE OF YOUR INVESTMENT) <pre>The ETF may pay transaction costs, including commissions when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when ETF shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the ETF's performance. During the most recent fiscal year, the ETF's portfolio turnover rate was 92% of the average value of its portfolio.</pre> <div style="display:none">~ http://www.grailadvisors.com/role/ExpenseExample_S000027156Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <pre>High level of current tax-exempt income and higher risk-adjusted returns relative to its benchmark.</pre> <pre>The following example is intended to help you compare the cost of investing in the ETF with the cost of investing in other funds. The example assumes that you invest $10,000 for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that the ETF provides a return of 5% a year, and that operating expenses remain the same. This example does not reflect the brokerage commissions that you may pay to buy and sell Shares. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</pre> GMMB -0.0524 5163 2348 0.0529 0.0030 36 1199 0.0000 0.0035 0.0559 0001415845 ck0001415845:S000027156Memberck0001415845:C000081956Member 2011-03-14 2011-03-14 0001415845 ck0001415845:SummaryS000027156Memberck0001415845:S000027156Memberck0001415845:C000081956Member 2011-03-14 2011-03-14 0001415845 ck0001415845:SummaryS000027156Memberck0001415845:S000027156Member 2011-03-14 2011-03-14 0001415845 2011-03-14 2011-03-14 pure iso4217:USD The Manager has contractually agreed to reduce its fees and/or reimburse ETF expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses) in order to limit Net Annual Operating Expenses for shares of the ETF to 0.35% of the ETF's average net assets ("Expense Cap"). The Expense Cap will remain in effect until at least March 1, 2012. The Expense Cap may be terminated earlier only upon the approval of the Board. The Manager may recoup fees reduced or expenses reimbursed at any time within three years from the year such expenses were incurred, so long as the repayment does not cause the Expense Cap to be exceeded. EX-101.SCH 3 ck0001415845-20110314.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0011 - Document - Document And Entity Information {Elements} link:calculationLink link:presentationLink link:definitionLink 0112 - Document - Risk/Return Summary {Unlabeled} (Grail McDonnell Intermediate Municipal Bond ETF) link:calculationLink link:presentationLink link:definitionLink 0113 - Schedule - Annual Fund Operating Expenses link:calculationLink link:presentationLink link:definitionLink 0114 - Schedule - Expense Example {Transposed} link:calculationLink link:presentationLink link:definitionLink EX-101.CAL 4 ck0001415845-20110314_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 5 ck0001415845-20110314_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 6 ck0001415845-20110314_lab.xml XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT Amendment Flag Annual Fund Operating Expenses [Table] Bar Chart and Performance Table, Heading Grail McDonnell Intermediate Municipal Bond ETF C000081956 Member Grail McDonnell Intermediate Municipal Bond ETF Distribution and/or service (12b-1) fees Document Creation Date Prospectus Document Effective Date Document [Axis] Document Period End Date Document Type Central Index Key Series Registrant Name Expense Example: Expense Example, Heading Expense Example, Narrative Expense Example, With Redemption [Table] Expense Example, With Redemption, 1 Year Expense Example, With Redemption, 3 Years Expense Example, With Redemption, 5 Years Expense Example, With Redemption, 10 Years Expense, Heading Expense, Narrative Total Annual Fund Operating Expenses Expense Reduction/Reimbursement Fee Waiver or Reimbursement over Assets, Date of Termination Series [Axis] Management Fee Total Annual Fund Operating Expenses after Expense Reduction/Reimbursement Investment Objective, Heading investment Objective, Primary Operating Expenses: Operating Expenses, Caption Other Expenses Performance, Availability Website Address Performance, Information Illustrates Variability of Returns Performance, Narrative Performance, Past Does Not Indicate Future Portfolio Turnover, Heading Portfolio Turnover, Rate Portfolio Turnover ProspectusDate Share Class [Axis] Prospectus: Risk, Heading Risk, Lose Money Risk, Narrative Risk, Not Insured Depository Institution Risk/Return: Risk/Return, Heading Grail McDonnell Intermediate Municipal Bond ETF S000027156 Member Grail McDonnell Intermediate Municipal Bond ETF Share Classes Shareholder Fees, Caption Investment Strategy, Heading Investment Strategy, Narrative Grail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary) SummaryS000027156 Member Grail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary) Trading Symbol EX-101.PRE 7 ck0001415845-20110314_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 8 R5.xml IDEA: Risk/Return Detail Data 2.2.0.25truefalse040000 - Disclosure - Risk/Return Detail Data {Elements}truetruefalse1falsefalsefalsefalse3/14/2011 - 3/14/2011 eol_0001104659-11-014131_STD_1_20110314_0http://www.sec.gov/CIK0001415845duration2011-03-14T00:00:002011-03-14T00:00:00pureStandardhttp://www.xbrl.org/2003/instancepure0iso4217_USDStandardhttp://www.xbrl.org/2003/iso4217USDiso421702true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseRisk/Return:3false0rr_ProspectusDaterrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-03-14falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe date of the prospectus.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 1 -Paragraph 3 -Subsection a falsefalseProspectusDate4false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://xbrl.sec.gov/rr/role/riskreturndetaildata1falsefalsefalse00falsefalsefalsefalsefalse1falsefalsetruefalse{dei_DocumentInformationDocumentAxis} : SummaryS000027156 Member {dei_LegalEntityAxis} : S000027156 Member 3/14/2011 - 3/14/2011 eol_0001104659-11-014131_STD_1_20110314_0_396770x-9994220_396840x-9994215http://www.sec.gov/CIK0001415845duration2011-03-14T00:00:002011-03-14T00:00:00falsefalseGrail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary)dei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_SummaryS000027156Memberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseGrail McDonnell Intermediate Municipal Bond ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_S000027156Memberdei_LegalEntityAxisexplicitMemberpureStandardhttp://www.xbrl.org/2003/instancepure0OthernaNo definition available.No authoritative reference available.falsefalseGrail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary) | Grail McDonnell Intermediate Municipal Bond ETF5true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseRisk/Return:6false0rr_RiskReturnHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00FUND SUMMARY GRAIL MCDONNELL INTERMEDIATE MUNICIPAL BOND ETFfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedReference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 falsefalseRisk/Return, Heading7false0rr_ObjectiveHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00INVESTMENT OBJECTIVEfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalseInvestment Objective, Heading8false0rr_ObjectivePrimaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>High level of current tax-exempt income and higher risk-adjusted returns relative to its benchmark.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalseinvestment Objective, Primary9false0rr_ExpenseHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00FEES AND EXPENSESfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) Example This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph d -Subsection instructions falsefalseExpense, Heading10false0rr_ExpenseNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>This table describes the fees and expenses that you may pay if you buy and hold Shares of the ETF.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown.The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph b -Subsection instructions falsefalseExpense, Narrative11false0rr_ShareholderFeesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00SHAREHOLDER FEES (FEES PAID DIRECTLY FROM YOUR INVESTMENT) NonefalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringShareholder Fees (fees paid directly from your investment).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subsection table falsefalseShareholder Fees, Caption12false0rr_OperatingExpensesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT YOU PAY EACH YEAR AS A PERCENTAGE OF THE VALUE OF YOUR INVESTMENT)falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 7 -Subsection table falsefalseOperating Expenses, Caption13false0rr_FeeWaiverOrReimbursementOverAssetsDateOfTerminationrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002012-03-01falsefalsefalsefalsefalseOtherus-types:dateStringItemTypenormalizedstringThis element represents the date of expected termination of any expense reimbursement or fee waiver arrangements that reduce any Fund operating expenses (SEC Form N-1A 2006-09-14 A.3.table.1.11 Total Annual Fund Operating Expenses A.3.instructions.3.e).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph e -Subsection instructions falsefalseFee Waiver or Reimbursement over Assets, Date of Termination14false0rr_PortfolioTurnoverHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PORTFOLIO TURNOVERfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 5 -Subsection instructions falsefalsePortfolio Turnover, Heading15false0rr_PortfolioTurnoverTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>The ETF may pay transaction costs, including commissions when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when ETF shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the ETF's performance. During the most recent fiscal year, the ETF's portfolio turnover rate was 92% of the average value of its portfolio.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalsePortfolio Turnover16false0rr_PortfolioTurnoverRaterrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruefalse0.920.92falsefalsefalsefalsefalseOtherxbrli:pureItemTypepureThis element represents the rate of portfolio turnover presented as a percentage (SEC Form N-1A 2006-09-14 A.3.example.3 Portfolio Turnover A.3.instructions.5 Portfolio Turnover).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalsePortfolio Turnover, Rate17false0rr_ExpenseExampleHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00EXAMPLEfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringHeading for Expense Example.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseExpense Example, Heading18false0rr_ExpenseExampleNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>The following example is intended to help you compare the cost of investing in the ETF with the cost of investing in other funds. The example assumes that you invest $10,000 for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that the ETF provides a return of 5% a year, and that operating expenses remain the same. This example does not reflect the brokerage commissions that you may pay to buy and sell Shares. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection example falsefalseExpense Example, Narrative19false0rr_StrategyHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PRINCIPAL INVESTMENT STRATEGIESfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalseInvestment Strategy, Heading20false0rr_StrategyNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>The ETF invests, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in debt securities with interest payments exempt from federal income taxes. The ETF will typically invest in municipal securities and will invest, under normal market conditions, primarily in tax exempt general obligation, revenue and private activity bonds and notes, which are issued by or on behalf of states, territories or possessions of the U.S. and the District of Columbia and their political subdivisions, agencies and instrumentalities (including Puerto Rico, the Virgin Islands and Guam). Tax-exempt means that the bonds pay interest that is excluded from gross income for regular federal income tax purposes, although interest paid on municipal securities may be subject to the alternative minimum tax. The ETF's investments generally include municipal securities with a full range of maturities and broad issuer and geographic diversification. While the ETF may invest in securities of any maturity, under normal circumstances, the dollar-weighted average maturity of the portfolio is expected to range from three to ten years. McDonnell, as the ETF's sub-adviser, employs a total return investment strategy which emphasizes sector and security selection and yield curve positioning. Sector and security decisions are reached through robust fundamental credit analysis as well as an assessment that incorporates the sector and security's credit momentum. The total return strategy places a limited dependence on adjusting the portfolio in anticipation of a change in the level of interest rates. The ETF invests primarily in investment grade securities, which are securities rated in one of the top four credit quality categories by at least one nationally recognized statistical rating organization rating that security (a "rating agency"). The ETF considers pre-refunded bonds or escrowed to maturity municipal securities, regardless of rating, to be investment grade securities. The ETF may invest up to 20% of its net assets in high yield securities or below investment-grade securities rated BB+ (or comparable) or below by a rating agency or, if unrated, determined by McDonnell to be of comparable quality. The ETF may invest up to 20% of its assets in taxable debt securities. These may include securities issued by the U.S. Government, its agencies and instrumentalities, corporate debt securities, mortgage-backed and other asset-backed securities, and securities of other investment companies, including other ETFs. The ETF may only invest in U.S. dollar-denominated securities. Unless otherwise stated, all percentage limitations on ETF investments apply at the time of investment.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalseInvestment Strategy, Narrative21false0rr_RiskHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PRINCIPAL RISKSfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subsection b falsefalseRisk, Heading22false0rr_RiskNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>An investment in the ETF involves risk, including those described below. The value of the ETF's holdings may decline, and the ETF's share price may go down. Credit Risk. Credit risk is the risk that the inability or perceived inability of an issuer to make interest and principal payments will cause the value of its securities to decrease, and cause the ETF a loss. If an issuer's financial health deteriorates, it may result in a reduction of the credit rating of the issuer's securities and may lead to the issuer's inability to honor its obligations, including making timely payment of interest and principal. Although a downgrade of a bond's credit ratings may not affect its price, a decline in credit quality may make bonds less attractive, thereby increasing the yield on the bond and driving down the price. Declines in credit quality can result in bankruptcy for the issuer and permanent loss of investment. The fixed income securities held by the ETF are subject to the risk that the issuer will be unwilling or unable to satisfy its obligations to the ETF, including the periodic payment of interest or the payment of principal upon maturity. Rating agencies are private services that provide ratings of the credit quality of fixed income securities. Ratings assigned by a rating agency are not absolute standards of credit quality and do not evaluate market risks. Rating agencies may fail to make timely changes in credit ratings and an issuer's current financial condition may be better or worse than a rating indicates. Further, rating agencies may end coverage of a previously-rated security. The ETF will not necessarily sell a security if its rating is reduced. The ETF's sub-adviser does not rely solely on credit ratings, and develops its own analysis of issuer credit quality. The ETF may purchase unrated securities (which are not rated by a rating agency) if the sub-adviser determines that the security is of comparable quality to a rated security that the ETF may purchase. Unrated securities may be less liquid than comparable rated securities and involve the risk that the sub-adviser may not accurately evaluate the security's comparative credit rating. ETF Risk. The Shares may trade above or below their NAV. The NAV of the ETF will generally fluctuate with changes in the market value of the ETF's holdings. The market prices of Shares, however, will generally fluctuate in accordance with changes in NAV as well as the relative supply of, and demand for, Shares on the Exchange. The trading price of Shares may deviate significantly from NAV during periods of market volatility. The Manager cannot predict whether Shares will trade below, at or above their NAV. Price differences may be due to the fact that supply and demand forces at work in the secondary trading market for Shares are closely related to, but not identical to, the same forces influencing the prices of the securities held by the ETF. However, given that Shares can be purchased and redeemed in Creation Units (unlike shares of closed-end funds, which frequently trade at appreciable discounts from, and sometimes at premiums to, their NAV), and the ETF's portfolio holdings are fully disclosed on a daily basis, large discounts or premiums to the NAV of Shares should not be sustained. Interest Rate Risk. Interest rate risk is the risk that fixed income securities will decline in value because of changes in interest rates. Generally, the value of debt securities falls as interest rates rise. Fixed income securities differ in their sensitivities to changes in interest rates. Fixed income securities with longer effective durations tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter effective durations. Effective duration is determined by a number of factors including coupon rate, whether the coupon is fixed or floating, time to maturity, call or put features, and various repayment features. Liquidity Risk. Liquidity risk exists with respect to investments that are or become difficult to sell. During periods of market turbulence or low trading activity, in order to meet redemptions it may be necessary for the ETF to sell securities at prices or times that are disadvantageous to the ETF. Additionally, the market for certain investments may be or become illiquid independent of any specific adverse changes in the conditions of a particular issuer. To the extent the ETF uses derivatives or invests in lower-rated securities, it will tend to have increased exposure to liquidity risk. The ETF may invest in unregistered securities, including Rule 144A securities, that are purchased directly from the issuer or in the secondary market and are subject to limitations on resale. Limitations on resale may have an adverse effect on the marketability of portfolio securities and the ETF might be unable to dispose of restricted or other illiquid securities promptly or at reasonable prices. The absence of a trading market can make it difficult to ascertain a market value for illiquid investments. Management Risk. Securities selected by McDonnell for the ETF may not perform as expected. This could result in the ETF's underperformance compared to other funds with similar investment objectives. Market Risk. Market risk involves the possibility that the value of the ETF's investments will decline, sometimes unpredictably or rapidly, due to drops in the securities markets generally or particular industries represented in the securities markets. The prices of and the income generated by securities held by the ETF may decline in response to certain events, including those directly involving the companies and governments whose securities are owned by the ETF, general economic and market conditions, regional or global instability, and interest rate fluctuations. Market turbulence in financial markets occurs from time to time at various levels, and can be extreme, resulting in reduced liquidity in credit and fixed income markets, which would likely have a negatively affect on many issuers worldwide and an adverse effect on the ETF. Mortgage-Related and Other Asset-Backed Securities Risk. Generally, rising interest rates tend to extend the duration of fixed rate mortgage-related securities, making them more sensitive to changes in interest rates. As a result, in a period of rising interest rates, if the ETF holds mortgage-related securities, it may exhibit additional volatility. In addition, adjustable and fixed rate mortgage-related securities are subject to prepayment risk. When interest rates decline, borrowers may repay their mortgages sooner than expected. This can reduce the ETF's returns because the ETF may have to reinvest that money at the lower prevailing interest rates. Conversely, when interest rates rise, prepayments may happen more slowly, causing the underlying loans to be outstanding for a longer time, which can cause the market value of the security to fall because the market may view the interest rate as too low for a longer-term investment. An ETF's investments in other asset-backed securities are subject to similar risks and additional risks associated with the nature of the assets and the servicing of those assets. Municipal Securities Risk. Municipal securities are subject to interest rate, credit and market risk. The ETF's investments in municipal securities will be sensitive to events that affect municipal markets, including legislative or political changes and the financial condition of the issuers of municipal securities. The ETF will be more sensitive to a particular adverse economic, business or political development if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation or utilities), industrial development bonds, or in bonds from issuers in a single state. There is no guarantee that all of the ETF's income from municipal securities will be exempt from federal or state income taxes. Income from municipal bonds held by the ETF could be declared taxable due to unfavorable changes in tax laws, adverse interpretations by the Internal Revenue Service or state tax authorities, or noncompliant conduct of a bond issuer. Events occurring after the date of issuance of a municipal bond or after the ETF's acquisition of a municipal bond may result in a determination that interest on that bond is includible in gross income for federal income tax purposes retroactively to its date of issuance. Such a determination may cause a portion of prior distributions by the ETF to its shareholders to be taxable to those shareholders in the year of receipt. Federal or state changes in income or alternative minimum tax rates or in the tax treatment of municipal bonds may make municipal bonds less attractive as investments and cause them to lose value. Non-Investment Grade Securities Risk. Below investment-grade securities, or "junk bonds," are more likely to pose a credit risk, as the issuers of these securities are more likely to have problems making interest and principal payments than issuers of higher-rated securities. Lower-rated securities may be more susceptible to real or perceived adverse economic and competitive industry conditions than higher-grade securities, and prices of these securities may be more sensitive to adverse economic downturns or individual corporate developments. If the issuer of the securities defaults, the ETF may incur additional expenses to seek recovery. The secondary market in which below investment-grade securities are traded may be less liquid than the market for higher grade securities. Less liquidity in the secondary trading markets could adversely affect the price at which the ETF could sell a particular security, and could cause large fluctuations in the ETF's NAV. Adverse publicity and investor perceptions may decrease the value and liquidity of lower-rated securities. Prepayment Risk. If interest rates fall, it is possible that issuers of certain bonds will call, or prepay, their bonds before their maturity date. If a call were exercised by the issuer during a period of declining interest rates, the ETF would likely have to replace the called security with a lower yielding security resulting in a decrease in the ETF's net investment income. Trading Risk. Although the Shares are listed on 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 due to market conditions or for reasons that, in the view of the Exchange, make trading in Shares inadvisable. Further, trading in Shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to the Exchange "circuit breaker" rules. There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the ETF will continue to be met or will remain unchanged. An investment in the ETF is not a deposit in a bank and it is not guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Clause instruction -Subsection b falsefalseRisk, Narrative23false0rr_RiskLoseMoneyrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The value of the ETF's holdings may decline, and the ETF's share price may go down.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringSummarize the principal risks of investing in the Fund, including the risks to which the Fund's portfolio as a whole is subject and the circumstances reasonably likely to affect adversely the Fund's net asset value, yield, and total return. Unless the Fund is a Money Market Fund, disclose that loss of money is a risk of investing in the Fund. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Subsection b falsefalseRisk, Lose Money24false0rr_RiskNotInsuredDepositoryInstitutionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00An investment in the ETF is not a deposit in a bank and it is not guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringIf the Fund is advised by or sold through an insured depository institution, state that An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. A Money Market Fund that is advised by or sold through an insured depository institution should combine the disclosure required by Items 2(c)(1)(ii) and (iii) in a single statement.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph iii -Subsection b falsefalseRisk, Not Insured Depository Institution25false0rr_BarChartAndPerformanceTableHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PERFORMANCEfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalseBar Chart and Performance Table, Heading26false0rr_PerformanceNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>Because the ETF has not yet completed a calendar year of investment operations, performance information is not yet available. The ETF's past performance (before and after taxes) is not necessarily an indication of how the ETF will perform in the future. For current performance information, please visit www.grailadvisors.com.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalsePerformance, Narrative27false0rr_PerformanceInformationIllustratesVariabilityOfReturnsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Because the ETF has not yet completed a calendar year of investment operations, performance information is not yet available.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInclude the bar chart and table required by paragraphs (b)(2)(ii) and (iii) of this section. Provide a brief explanation of how the information illustrates the variability of the Fund's returns (e.g., by stating that the information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance). Provide a statement to the effect that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b falsefalsePerformance, Information Illustrates Variability of Returns28false0rr_PerformanceAvailabilityWebSiteAddressrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00www.grailadvisors.comfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringIf applicable, include a statement explaining that updated performance information is available and providing a Website address and/or toll-free (or collect) telephone number where the updated information may be obtained.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b falsefalsePerformance, Availability Website Address29false0rr_PerformancePastDoesNotIndicateFuturerrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00The ETF's past performance (before and after taxes) is not necessarily an indication of how the ETF will perform in the future.falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInclude the bar chart and table required by paragraphs (b)(2)(ii) and (iii) of this section. Provide a brief explanation of how the information illustrates the variability of the Fund's returns (e.g., by stating that the information provides some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance). Provide a statement to the effect that the Fund's past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subparagraph i -Subsection b falsefalsePerformance, Past Does Not Indicate Future30false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://xbrl.sec.gov/rr/role/riskreturndetaildata1falsefalsefalse00falsefalsefalsefalsefalse3falsefalseUSDtruefalse{dei_LegalEntityAxis} : S000027156 Member {rr_ProspectusShareClassAxis} : C000081956 Member 3/14/2011 - 3/14/2011 USD ($) $eol_0001104659-11-014131_STD_1_20110314_0_396770x-9994220_429423x-9994225http://www.sec.gov/CIK0001415845duration2011-03-14T00:00:002011-03-14T00:00:00falsefalseGrail McDonnell Intermediate Municipal Bond ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_S000027156Memberdei_LegalEntityAxisexplicitMemberfalsefalseGrail McDonnell Intermediate Municipal Bond ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_C000081956Memberrr_ProspectusShareClassAxisexplicitMemberpureStandardhttp://www.xbrl.org/2003/instancepure0iso4217_USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170USDUSD$OthernaNo definition available.No authoritative reference available.falsefalseGrail McDonnell Intermediate Municipal Bond ETF | Grail McDonnell Intermediate Municipal Bond ETF31true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseRisk/Return:32false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00300.0030falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalseManagement Fee33false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00000.0000falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalseDistribution and/or service (12b-1) fees34false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.05290.0529falsefalsefalsefalsefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalseOther Expenses35false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.05590.0559falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions falsefalseTotal Annual Fund Operating Expenses36false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue-0.0524-0.0524[1]falsefalsefalsefalsefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption showing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and should use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalseExpense Reduction/Reimbursement37false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00350.0035falsefalsefalsefalsefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalseTotal Annual Fund Operating Expenses after Expense Reduction/Reimbursement38false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue3636falsetruefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseExpense Example, With Redemption, 1 Year39false0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue11991199falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseExpense Example, With Redemption, 3 Years40false0rr_ExpenseExampleYear05rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue23482348falsefalsefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseExpense Example, With Redemption, 5 Years41false0rr_ExpenseExampleYear10rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue51635163falsetruefalsefalsefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseExpense Example, With Redemption, 10 Years1The Manager has contractually agreed to reduce its fees and/or reimburse ETF expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses) in order to limit Net Annual Operating Expenses for shares of the ETF to 0.35% of the ETF's average net assets ("Expense Cap"). The Expense Cap will remain in effect until at least March 1, 2012. The Expense Cap may be terminated earlier only upon the approval of the Board. The Manager may recoup fees reduced or expenses reimbursed at any time within three years from the year such expenses were incurred, so long as the repayment does not cause the Expense Cap to be exceeded.140Risk/Return Detail Data (USD $)NoRoundingUnKnownUnKnownUnKnowntruetrue XML 9 defnref.xml IDEA: XBRL DOCUMENT No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. No authoritative reference available. XML 10 R1.xml IDEA: Document And Entity Information 2.2.0.25truefalse0011 - Document - Document And Entity Information {Elements}truetruefalse1falsefalsefalsefalse3/14/2011 - 3/14/2011 eol_0001104659-11-014131_STD_1_20110314_0http://www.sec.gov/CIK0001415845duration2011-03-14T00:00:002011-03-14T00:00:002true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseRisk/Return:3false0dei_DocumentTypedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00OtherfalsefalsefalsefalsefalseOtherus-types:SECReportItemTypenaThe type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type should be limited to the same value as the supporting SEC submission type. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, NCSR, N-Q, and Other.No authoritative reference available.falsefalseDocument Type4false0dei_DocumentPeriodEndDatedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-03-14falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements this will be the filing date. The format of the date is CCYY-MM-DD.No authoritative reference available.falsefalseDocument Period End Date5false0dei_EntityRegistrantNamedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Grail Advisors ETF TrustfalsefalsefalsefalsefalseOtherxbrli:normalizedStringItemTypenormalizedstringThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 falsefalseRegistrant Name6false0dei_EntityCentralIndexKeydeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse000001415845falsefalsefalsefalsefalseOtherus-types:centralIndexKeyItemTypenaA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 falsefalseCentral Index Key7false0dei_AmendmentFlagdeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalsefalseOtherxbrli:booleanItemTypenaIf the value is true, then the document as an amendment to previously-filed/accepted document.No authoritative reference available.falsefalseAmendment Flag8false0dei_DocumentCreationDatedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-03-14falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe date the document was made available and submitted, in CCYY-MM-DD format. The date of submission, date of acceptance by the recipient, and the document effective date are all potentially different.No authoritative reference available.falsefalseDocument Creation Date9false0dei_DocumentEffectiveDatedeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002011-03-14falsefalsetruefalsefalseOtherxbrli:dateItemTypedateThe date when a document, upon receipt and acceptance, becomes officially effective, in CCYY-MM-DD format. Usually it is a system-assigned date time value, but it may be declared by the submitter in some cases.No authoritative reference available.falsefalseDocument Effective Date10false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://www.grailadvisors.com/role/documentdocumentandentityinformation1falsefalsefalse00falsefalsefalsefalsefalse2falsefalsetruefalse{dei_DocumentInformationDocumentAxis} : SummaryS000027156 Member {dei_LegalEntityAxis} : S000027156 Member {rr_ProspectusShareClassAxis} : C000081956 Member 3/14/2011 - 3/14/2011 eol_0001104659-11-014131_STD_1_20110314_0_396770x-9994220_396840x-9994215_429423x-9994225http://www.sec.gov/CIK0001415845duration2011-03-14T00:00:002011-03-14T00:00:00falsefalseGrail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary)dei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_SummaryS000027156Memberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseGrail McDonnell Intermediate Municipal Bond ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_S000027156Memberdei_LegalEntityAxisexplicitMemberfalsefalseGrail McDonnell Intermediate Municipal Bond ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_C000081956Memberrr_ProspectusShareClassAxisexplicitMemberOthernaNo definition available.No authoritative reference available.falsefalseGrail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary) | Grail McDonnell Intermediate Municipal Bond ETF | Grail McDonnell Intermediate Municipal Bond ETF11true0rr_RiskReturnAbstractrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNo definition available.falsefalseRisk/Return:12false0dei_TradingSymboldeifalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00GMMBfalsefalsefalsefalsefalseOtherxbrli:normalizedStringItemTypenormalizedstringTrading symbol of an instrument as listed on an exchange.No authoritative reference available.falsefalseTrading Symbol111Document And Entity InformationUnKnownUnKnownUnKnownUnKnownfalsetrue XML 11 R2.xml IDEA: Risk/Return Summary (Grail McDonnell Intermediate Municipal Bond ETF) 2.2.0.25truefalse0112 - Document - Risk/Return Summary {Unlabeled} (Grail McDonnell Intermediate Municipal Bond ETF)falsefalsetrue1falsefalsetruefalse{dei_DocumentInformationDocumentAxis} : SummaryS000027156 Member {dei_LegalEntityAxis} : S000027156 Member 3/14/2011 - 3/14/2011 eol_0001104659-11-014131_STD_1_20110314_0_396770x-9994220_396840x-9994215http://www.sec.gov/CIK0001415845duration2011-03-14T00:00:002011-03-14T00:00:00falsefalseck0001415845_SummaryS000027156Memberdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_SummaryS000027156Memberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseck0001415845_S000027156Memberdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_S000027156Memberdei_LegalEntityAxisexplicitMemberpureStandardhttp://www.xbrl.org/2003/instancepure01false0natruenanaNo definition available.falsetruefalsefalsefalsefalsefalsefalsefalsefalsehttp://www.grailadvisors.com/role/riskreturn_s000027156member1falsefalsefalse00Grail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary) | Grail McDonnell Intermediate Municipal Bond ETFGrail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary) | Grail McDonnell Intermediate Municipal Bond ETFfalsefalsefalsefalsefalse1falsefalsetruefalse{dei_DocumentInformationDocumentAxis} : SummaryS000027156 Member {dei_LegalEntityAxis} : S000027156 Member 3/14/2011 - 3/14/2011 eol_0001104659-11-014131_STD_1_20110314_0_396770x-9994220_396840x-9994215http://www.sec.gov/CIK0001415845duration2011-03-14T00:00:002011-03-14T00:00:00falsefalseck0001415845_SummaryS000027156Memberdei_DocumentInformationDocumentAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_SummaryS000027156Memberdei_DocumentInformationDocumentAxisexplicitMemberfalsefalseck0001415845_S000027156Memberdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_S000027156Memberdei_LegalEntityAxisexplicitMemberpureStandardhttp://www.xbrl.org/2003/instancepure0OthernaNo definition available.No authoritative reference available.falsefalseGrail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary) | Grail McDonnell Intermediate Municipal Bond ETF3false0rr_RiskReturnHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00FUND SUMMARY GRAIL MCDONNELL INTERMEDIATE MUNICIPAL BOND ETFfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicatedReference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 falsefalseRisk/Return, Heading4false0rr_ObjectiveHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00INVESTMENT OBJECTIVEfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalseInvestment Objective, Heading5false0rr_ObjectivePrimaryTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>High level of current tax-exempt income and higher risk-adjusted returns relative to its benchmark.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringInvestment Objectives/Goals. Disclose the Fund's investment objectives or goals. A Fund also may identify its type or category (e.g., that it is a Money Market Fund or a balanced fund).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 2 -Subsection a falsefalseinvestment Objective, Primary6false0rr_ExpenseHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00FEES AND EXPENSESfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Summary Fee Table Includes the following information, in plain English under rule 421(d) under the Securities Act, after Item 2 Fees and expenses of the Fund This table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Shareholder Fees (fees paid directly from your investment) Example This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be You would pay the following expenses if you did not redeem your shares The Example does not reflect sales charges (loads) on reinvested dividends [and other distributions]. If these sales charges (loads) were included, your costs would be higher. Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was __% of the average value of its whole portfolio. Instructions. A.3.instructions.6 New Funds. For purposes of this Item, a "New Fund" is a Fund that does not include in Form N-1A financial statements reporting operating results or that includes financial statements for the Fund's initial fiscal year reporting operating results for a period of 6 months or less. The following Instructions apply to New Funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph d -Subsection instructions falsefalseExpense, Heading7false0rr_ExpenseNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>This table describes the fees and expenses that you may pay if you buy and hold Shares of the ETF.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThis table describes the fees and expenses that you may pay if you buy and hold shared of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $[_____] in [name of fund family] funds. Include the narrative explanations in the order indicated. A Fund may modify the narrative explanations if the explanation contains comparable information to that shown.The narrative explanation regarding sales charge discounts is only required by a Fund that offers such discounts and should specify the minimum level of investment required to qualify for a discount. Modify the narrative explanation to state that Fund shares are sold on a national securities exchange at the end of the time periods indicated, and that brokerage commissions for buying and selling Fund shares through a broker are not reflected.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph b -Subsection instructions falsefalseExpense, Narrative8false0rr_ShareholderFeesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00SHAREHOLDER FEES (FEES PAID DIRECTLY FROM YOUR INVESTMENT) NonefalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringShareholder Fees (fees paid directly from your investment).Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subsection table falsefalseShareholder Fees, Caption9false0rr_OperatingExpensesCaptionrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT YOU PAY EACH YEAR AS A PERCENTAGE OF THE VALUE OF YOUR INVESTMENT)falsefalsefalsefalsefalseOtherxbrli:stringItemTypestringAnnual Fund Operating Expenses (ongoing expenses that you pay each year as a percentage of the value of your investment)Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 7 -Subsection table falsefalseOperating Expenses, Caption10false0rr_AnnualFundOperatingExpensesTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div style="display:none">~ http://www.grailadvisors.com/role/OperatingExpensesData_S000027156Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>falsefalse<div style="display:none">~ http://www.grailadvisors.com/role/OperatingExpensesData_S000027156Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>falsehttp://www.grailadvisors.com/role/OperatingExpensesData_S000027156Memberfalsefalse0113 - Schedule - Annual Fund Operating Expensestruefalsefalse1falseColumnperiodPeriod*Columndei_LegalEntityAxisAxis*Columnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*duration2011-03-14T00:00:002011-03-14T00:00:00falsefalseGrail McDonnell Intermediate Municipal Bond ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_S000027156Memberdei_LegalEntityAxisexplicitMemberfalsefalseGrail McDonnell Intermediate Municipal Bond ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_C000081956Memberrr_ProspectusShareClassAxisexplicitMemberGrail McDonnell Intermediate Municipal Bond ETFGrail McDonnell Intermediate Municipal Bond ETFiso4217_USDStandardhttp://www.xbrl.org/2003/iso4217USDiso42170falseUSDfalsefalse$1falseRowprimaryElement*3false0rr_ManagementFeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00300.0030falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureManagement Fees include investment advisory fees (including any fees based on the Fund's performance), any other management fees payable to the investment adviser or its affiliates, and administrative fees payable to the investment adviser or its affiliates that are not included as "Other Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph a -Subsection instructions falsefalseManagement Fee0rr_ManagementFeesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00300.0030falsefalsefalsetruefalseOthernanafalsefalseManagement Fee2falseRowprimaryElement*4false0rr_DistributionAndService12b1FeesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00000.0000falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureDistribution [and/or Service] (12b-1) Fees" include all distribution or other expenses incurred during the most recent fiscal year under a plan adopted pursuant to rule 12b-1 [17 CFR 270.12b-1]. Under an appropriate caption or a subcaption of "Other Expenses," disclose the amount of any distribution or similar expenses deducted from the Fund's assets other than pursuant to a rule 12b-1 plan.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 9 -Subsection table falsefalseDistribution and/or service (12b-1) fees0rr_DistributionAndService12b1FeesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00000.0000falsefalsefalsetruefalseOthernanafalsefalseDistribution and/or service (12b-1) fees3falseRowprimaryElement*5false0rr_OtherExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.05290.0529falsefalsefalsetruefalseOtherrr:NonNegativePure4Typepure"Other Expenses" include all expenses not otherwise disclosed in the table that are deducted from the Fund's assets or charged to all shareholder accounts. The amount of expenses deducted from the Fund's assets are the amounts shown as expenses in the Fund's statement of operations (including increases resulting from complying with paragraph 2(g) of rule 6-07 of Regulation S-X [17 CFR 210.6-07]). "Other Expenses" do not include extraordinary expenses as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). If extraordinary expenses were incurred that materially affected the Fund's "Other Expenses," disclose in a footnote to the table what "Other Expenses" would have been had the extraordinary expenses been included.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph c -Clause i -Subsection instructions falsefalseOther Expenses0rr_OtherExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.05290.0529falsefalsefalsetruefalseOthernanafalsefalseOther Expenses4falseRowprimaryElement*6false0rr_ExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.05590.0559falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses. If the Fund is a Feeder Fund, reflect the aggregate expenses of the Feeder Fund and the Master Fund in a single fee table using the captions provided. In a footnote to the fee table, state that the table and Example reflect the expenses of both the Feeder and Master Funds. If the prospectus offers more than one Class of a Multiple Class Fund or more than one Feeder Fund that invests in the same Master Fund, provide a separate response for each Class or Feeder Fund. Base the percentages of "Annual Fund Operating Expenses" on amounts incurred during the Fund's most recent fiscal year, but include in expenses amounts that would have been incurred absent expense reimbursement or fee waiver arrangements. If the Fund has changed its fiscal year and, as a result, the most recent fiscal year is less than three months, use the fiscal year prior to the most recent fiscal year as the basis for determining "Annual Fund Operating Expenses."Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subparagraph d -Subsection instructions falsefalseTotal Annual Fund Operating Expenses0rr_ExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.05590.0559falsefalsefalsetruefalseOthernanafalsefalseTotal Annual Fund Operating Expenses5falseRowprimaryElement*7false0rr_FeeWaiverOrReimbursementOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue-0.0524-0.0524[1]falsefalsefalsetruefalseOtherrr:NonPositivePure4TypepureTotal Annual Fund Operating Expenses. If there were expense reimbursement or fee waiver arrangements that reduced any Fund operating expenses and will continue to reduce them for no less than one year from the effective date of the Fund's registration statement, a Fund may add two captions to the table one caption showing the amount of the expense reimbursement or fee waiver, and a second caption showing the Fund's net expenses after subtracting the fee reimbursement or expense waiver from the total fund operating expenses. The Fund should place these additional captions directly below the "Total Annual Fund Operating Expenses" caption of the table and should use appropriate descriptive captions, such as "Fee Waiver [and/or Expense Reimbursement]" and "Total Annual Fund Operating Expenses After Fee Waiver [and/or Expense Reimbursement]," respectively. If the Fund provides this disclosure, also disclose the period for which the expense reimbursement or fee waiver arrangement is expected to continue, and briefly describe who can terminate the arrangement and under what circumstances.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalseExpense Reduction/Reimbursement0rr_FeeWaiverOrReimbursementOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse[1]1truetruetrue-0.0524-0.0524falsefalsefalsetruefalseOthernanafalsefalseExpense Reduction/Reimbursement6falseRowprimaryElement*8false0rr_NetExpensesOverAssetsrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00350.0035falsefalsefalsetruefalseOtherrr:NonNegativePure4TypepureTotal Annual Fund Operating Expenses.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 11 -Subsection table falsefalseTotal Annual Fund Operating Expenses after Expense Reduction/Reimbursement0rr_NetExpensesOverAssetstruefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truetruetrue0.00350.0035falsefalsefalsetruefalseOthernanafalsefalseTotal Annual Fund Operating Expenses after Expense Reduction/Reimbursement1The Manager has contractually agreed to reduce its fees and/or reimburse ETF expenses (excluding interest, taxes, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses) in order to limit Net Annual Operating Expenses for shares of the ETF to 0.35% of the ETF's average net assets ("Expense Cap"). The Expense Cap will remain in effect until at least March 1, 2012. The Expense Cap may be terminated earlier only upon the approval of the Board. The Manager may recoup fees reduced or expenses reimbursed at any time within three years from the year such expenses were incurred, so long as the repayment does not cause the Expense Cap to be exceeded.16Annual Fund Operating Expenses UnKnownUnKnownUnKnownUnKnownfalsetrueColumnperiodPeriod*Columndei_LegalEntityAxisAxis*Columnrr_ProspectusShareClassAxisAxis*ColumnunitUnit*RowprimaryElement*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to OperatingExpensesData.No authoritative reference available.falsefalseAnnual Fund Operating Expenses [Table]11false0rr_ExpenseExampleHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00EXAMPLEfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringHeading for Expense Example.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseExpense Example, Heading12false0rr_ExpenseExampleNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>The following example is intended to help you compare the cost of investing in the ETF with the cost of investing in other funds. The example assumes that you invest $10,000 for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that the ETF provides a return of 5% a year, and that operating expenses remain the same. This example does not reflect the brokerage commissions that you may pay to buy and sell Shares. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringThe Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 1 -Subsection example falsefalseExpense Example, Narrative13false0rr_ExpenseExampleWithRedemptionTableTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<div style="display:none">~ http://www.grailadvisors.com/role/ExpenseExample_S000027156Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>falsefalse<div style="display:none">~ http://www.grailadvisors.com/role/ExpenseExample_S000027156Member column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div>truehttp://www.grailadvisors.com/role/ExpenseExample_S000027156Memberfalsefalse0114 - Schedule - Expense Example {Transposed}truefalsefalse1falseColumnprimaryElement*3false0rr_ExpenseExampleYear01rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue3636falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 4 -Subsection instructions falsefalseExpense Example, With Redemption, 1 YearfalseUSDfalsefalse$2falseColumnprimaryElement*4false0rr_ExpenseExampleYear03rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue11991199falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseExpense Example, With Redemption, 3 YearsfalseUSDfalsefalse$3falseColumnprimaryElement*5false0rr_ExpenseExampleYear05rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue23482348falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseExpense Example, With Redemption, 5 YearsfalseUSDfalsefalse$4falseColumnprimaryElement*6false0rr_ExpenseExampleYear10rrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue51635163falsefalsefalsetruefalseMonetaryrr:NonNegativeMonetaryTypemonetaryThe Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 1 -Subparagraph 2 -Subsection example falsefalseExpense Example, With Redemption, 10 YearsfalseUSDfalsefalse$1falseRowperiodPeriod*Rowdei_LegalEntityAxisAxis*Rowrr_ProspectusShareClassAxisAxis*RowunitUnit*duration2011-03-14T00:00:002011-03-14T00:00:00falsefalseGrail McDonnell Intermediate Municipal Bond ETFdei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_S000027156Memberdei_LegalEntityAxisexplicitMemberfalsefalseGrail McDonnell Intermediate Municipal Bond ETFrr_ProspectusShareClassAxisxbrldihttp://xbrl.org/2006/xbrldick0001415845_C000081956Memberrr_ProspectusShareClassAxisexplicitMemberGrail McDonnell Intermediate Municipal Bond ETFGrail McDonnell Intermediate Municipal Bond ETFiso4217_USDStandardhttp://www.xbrl.org/2003/iso4217USDiso421700truefalsefalsefalsefalsefalsefalsefalsefalsefalsefalse1truefalsetrue3636falsefalsefalsetruefalse2truefalsetrue11991199falsefalsefalsetruefalse3truefalsetrue23482348falsefalsefalsetruefalse4truefalsetrue51635163falsefalsefalsetruefalseOthernanafalsefalseGrail McDonnell Intermediate Municipal Bond ETF41Expense Example (USD $)UnKnownUnKnownUnKnownUnKnownfalsetrueColumnprimaryElement*RowperiodPeriod*Rowdei_LegalEntityAxisAxis*Rowrr_ProspectusShareClassAxisAxis*RowunitUnit*falsefalsefalseOtherus-types:textBlockItemTypestringContains a command for the SEC Viewer for the role corresponding to ExpenseExample.No authoritative reference available.falsefalseExpense Example, With Redemption [Table]14false0rr_PortfolioTurnoverHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PORTFOLIO TURNOVERfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 5 -Subsection instructions falsefalsePortfolio Turnover, Heading15false0rr_PortfolioTurnoverTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>The ETF may pay transaction costs, including commissions when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when ETF shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the ETF's performance. During the most recent fiscal year, the ETF's portfolio turnover rate was 92% of the average value of its portfolio.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDisclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 3 -Paragraph 3 -Subsection example falsefalsePortfolio Turnover16false0rr_StrategyHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PRINCIPAL INVESTMENT STRATEGIESfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalseInvestment Strategy, Heading17false0rr_StrategyNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>The ETF invests, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in debt securities with interest payments exempt from federal income taxes. The ETF will typically invest in municipal securities and will invest, under normal market conditions, primarily in tax exempt general obligation, revenue and private activity bonds and notes, which are issued by or on behalf of states, territories or possessions of the U.S. and the District of Columbia and their political subdivisions, agencies and instrumentalities (including Puerto Rico, the Virgin Islands and Guam). Tax-exempt means that the bonds pay interest that is excluded from gross income for regular federal income tax purposes, although interest paid on municipal securities may be subject to the alternative minimum tax. The ETF's investments generally include municipal securities with a full range of maturities and broad issuer and geographic diversification. While the ETF may invest in securities of any maturity, under normal circumstances, the dollar-weighted average maturity of the portfolio is expected to range from three to ten years. McDonnell, as the ETF's sub-adviser, employs a total return investment strategy which emphasizes sector and security selection and yield curve positioning. Sector and security decisions are reached through robust fundamental credit analysis as well as an assessment that incorporates the sector and security's credit momentum. The total return strategy places a limited dependence on adjusting the portfolio in anticipation of a change in the level of interest rates. The ETF invests primarily in investment grade securities, which are securities rated in one of the top four credit quality categories by at least one nationally recognized statistical rating organization rating that security (a "rating agency"). The ETF considers pre-refunded bonds or escrowed to maturity municipal securities, regardless of rating, to be investment grade securities. The ETF may invest up to 20% of its net assets in high yield securities or below investment-grade securities rated BB+ (or comparable) or below by a rating agency or, if unrated, determined by McDonnell to be of comparable quality. The ETF may invest up to 20% of its assets in taxable debt securities. These may include securities issued by the U.S. Government, its agencies and instrumentalities, corporate debt securities, mortgage-backed and other asset-backed securities, and securities of other investment companies, including other ETFs. The ETF may only invest in U.S. dollar-denominated securities. Unless otherwise stated, all percentage limitations on ETF investments apply at the time of investment.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a falsefalseInvestment Strategy, Narrative18false0rr_RiskHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PRINCIPAL RISKSfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringNarrative Risk Disclosure.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subsection b falsefalseRisk, Heading19false0rr_RiskNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>An investment in the ETF involves risk, including those described below. The value of the ETF's holdings may decline, and the ETF's share price may go down. Credit Risk. Credit risk is the risk that the inability or perceived inability of an issuer to make interest and principal payments will cause the value of its securities to decrease, and cause the ETF a loss. If an issuer's financial health deteriorates, it may result in a reduction of the credit rating of the issuer's securities and may lead to the issuer's inability to honor its obligations, including making timely payment of interest and principal. Although a downgrade of a bond's credit ratings may not affect its price, a decline in credit quality may make bonds less attractive, thereby increasing the yield on the bond and driving down the price. Declines in credit quality can result in bankruptcy for the issuer and permanent loss of investment. The fixed income securities held by the ETF are subject to the risk that the issuer will be unwilling or unable to satisfy its obligations to the ETF, including the periodic payment of interest or the payment of principal upon maturity. Rating agencies are private services that provide ratings of the credit quality of fixed income securities. Ratings assigned by a rating agency are not absolute standards of credit quality and do not evaluate market risks. Rating agencies may fail to make timely changes in credit ratings and an issuer's current financial condition may be better or worse than a rating indicates. Further, rating agencies may end coverage of a previously-rated security. The ETF will not necessarily sell a security if its rating is reduced. The ETF's sub-adviser does not rely solely on credit ratings, and develops its own analysis of issuer credit quality. The ETF may purchase unrated securities (which are not rated by a rating agency) if the sub-adviser determines that the security is of comparable quality to a rated security that the ETF may purchase. Unrated securities may be less liquid than comparable rated securities and involve the risk that the sub-adviser may not accurately evaluate the security's comparative credit rating. ETF Risk. The Shares may trade above or below their NAV. The NAV of the ETF will generally fluctuate with changes in the market value of the ETF's holdings. The market prices of Shares, however, will generally fluctuate in accordance with changes in NAV as well as the relative supply of, and demand for, Shares on the Exchange. The trading price of Shares may deviate significantly from NAV during periods of market volatility. The Manager cannot predict whether Shares will trade below, at or above their NAV. Price differences may be due to the fact that supply and demand forces at work in the secondary trading market for Shares are closely related to, but not identical to, the same forces influencing the prices of the securities held by the ETF. However, given that Shares can be purchased and redeemed in Creation Units (unlike shares of closed-end funds, which frequently trade at appreciable discounts from, and sometimes at premiums to, their NAV), and the ETF's portfolio holdings are fully disclosed on a daily basis, large discounts or premiums to the NAV of Shares should not be sustained. Interest Rate Risk. Interest rate risk is the risk that fixed income securities will decline in value because of changes in interest rates. Generally, the value of debt securities falls as interest rates rise. Fixed income securities differ in their sensitivities to changes in interest rates. Fixed income securities with longer effective durations tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter effective durations. Effective duration is determined by a number of factors including coupon rate, whether the coupon is fixed or floating, time to maturity, call or put features, and various repayment features. Liquidity Risk. Liquidity risk exists with respect to investments that are or become difficult to sell. During periods of market turbulence or low trading activity, in order to meet redemptions it may be necessary for the ETF to sell securities at prices or times that are disadvantageous to the ETF. Additionally, the market for certain investments may be or become illiquid independent of any specific adverse changes in the conditions of a particular issuer. To the extent the ETF uses derivatives or invests in lower-rated securities, it will tend to have increased exposure to liquidity risk. The ETF may invest in unregistered securities, including Rule 144A securities, that are purchased directly from the issuer or in the secondary market and are subject to limitations on resale. Limitations on resale may have an adverse effect on the marketability of portfolio securities and the ETF might be unable to dispose of restricted or other illiquid securities promptly or at reasonable prices. The absence of a trading market can make it difficult to ascertain a market value for illiquid investments. Management Risk. Securities selected by McDonnell for the ETF may not perform as expected. This could result in the ETF's underperformance compared to other funds with similar investment objectives. Market Risk. Market risk involves the possibility that the value of the ETF's investments will decline, sometimes unpredictably or rapidly, due to drops in the securities markets generally or particular industries represented in the securities markets. The prices of and the income generated by securities held by the ETF may decline in response to certain events, including those directly involving the companies and governments whose securities are owned by the ETF, general economic and market conditions, regional or global instability, and interest rate fluctuations. Market turbulence in financial markets occurs from time to time at various levels, and can be extreme, resulting in reduced liquidity in credit and fixed income markets, which would likely have a negatively affect on many issuers worldwide and an adverse effect on the ETF. Mortgage-Related and Other Asset-Backed Securities Risk. Generally, rising interest rates tend to extend the duration of fixed rate mortgage-related securities, making them more sensitive to changes in interest rates. As a result, in a period of rising interest rates, if the ETF holds mortgage-related securities, it may exhibit additional volatility. In addition, adjustable and fixed rate mortgage-related securities are subject to prepayment risk. When interest rates decline, borrowers may repay their mortgages sooner than expected. This can reduce the ETF's returns because the ETF may have to reinvest that money at the lower prevailing interest rates. Conversely, when interest rates rise, prepayments may happen more slowly, causing the underlying loans to be outstanding for a longer time, which can cause the market value of the security to fall because the market may view the interest rate as too low for a longer-term investment. An ETF's investments in other asset-backed securities are subject to similar risks and additional risks associated with the nature of the assets and the servicing of those assets. Municipal Securities Risk. Municipal securities are subject to interest rate, credit and market risk. The ETF's investments in municipal securities will be sensitive to events that affect municipal markets, including legislative or political changes and the financial condition of the issuers of municipal securities. The ETF will be more sensitive to a particular adverse economic, business or political development if it invests a substantial portion of its assets in the bonds of similar projects (such as those relating to education, health care, housing, transportation or utilities), industrial development bonds, or in bonds from issuers in a single state. There is no guarantee that all of the ETF's income from municipal securities will be exempt from federal or state income taxes. Income from municipal bonds held by the ETF could be declared taxable due to unfavorable changes in tax laws, adverse interpretations by the Internal Revenue Service or state tax authorities, or noncompliant conduct of a bond issuer. Events occurring after the date of issuance of a municipal bond or after the ETF's acquisition of a municipal bond may result in a determination that interest on that bond is includible in gross income for federal income tax purposes retroactively to its date of issuance. Such a determination may cause a portion of prior distributions by the ETF to its shareholders to be taxable to those shareholders in the year of receipt. Federal or state changes in income or alternative minimum tax rates or in the tax treatment of municipal bonds may make municipal bonds less attractive as investments and cause them to lose value. Non-Investment Grade Securities Risk. Below investment-grade securities, or "junk bonds," are more likely to pose a credit risk, as the issuers of these securities are more likely to have problems making interest and principal payments than issuers of higher-rated securities. Lower-rated securities may be more susceptible to real or perceived adverse economic and competitive industry conditions than higher-grade securities, and prices of these securities may be more sensitive to adverse economic downturns or individual corporate developments. If the issuer of the securities defaults, the ETF may incur additional expenses to seek recovery. The secondary market in which below investment-grade securities are traded may be less liquid than the market for higher grade securities. Less liquidity in the secondary trading markets could adversely affect the price at which the ETF could sell a particular security, and could cause large fluctuations in the ETF's NAV. Adverse publicity and investor perceptions may decrease the value and liquidity of lower-rated securities. Prepayment Risk. If interest rates fall, it is possible that issuers of certain bonds will call, or prepay, their bonds before their maturity date. If a call were exercised by the issuer during a period of declining interest rates, the ETF would likely have to replace the called security with a lower yielding security resulting in a decrease in the ETF's net investment income. Trading Risk. Although the Shares are listed on 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 due to market conditions or for reasons that, in the view of the Exchange, make trading in Shares inadvisable. Further, trading in Shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to the Exchange "circuit breaker" rules. There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the ETF will continue to be met or will remain unchanged. An investment in the ETF is not a deposit in a bank and it is not guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other governmental agency.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringNarrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 1 -Subparagraph i -Clause instruction -Subsection b falsefalseRisk, Narrative20false0rr_BarChartAndPerformanceTableHeadingrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00PERFORMANCEfalsefalsefalsefalsefalseOtherxbrli:stringItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalseBar Chart and Performance Table, Heading21false0rr_PerformanceNarrativeTextBlockrrfalsenadurationNo definition available.falsefalsefalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<pre>Because the ETF has not yet completed a calendar year of investment operations, performance information is not yet available. The ETF's past performance (before and after taxes) is not necessarily an indication of how the ETF will perform in the future. For current performance information, please visit www.grailadvisors.com.</pre>falsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringRisk/Return Bar Chart and Table.Reference 1: 1 -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Paragraph 2 -Subsection b falsefalsePerformance, Narrative120Risk/Return Summary (Grail McDonnell Intermediate Municipal Bond ETF) (Grail McDonnell Intermediate Municipal Bond ETF (Prospectus Summary), Grail McDonnell Intermediate Municipal Bond ETF)UnKnownUnKnownUnKnownUnKnownfalsetrue XML 12 FilingSummary.xml IDEA: XBRL DOCUMENT 2.2.0.25 true Sheet 0011 - Document - Document And Entity Information {Elements} Document And Entity Information http://www.grailadvisors.com/role/DocumentDocumentandEntityInformation false R1.xml false Sheet 0112 - Document - Risk/Return Summary {Unlabeled} (Grail McDonnell Intermediate Municipal Bond ETF) Risk/Return Summary (Grail McDonnell Intermediate Municipal Bond ETF) http://www.grailadvisors.com/role/RiskReturn_S000027156Member true R2.xml false Sheet 040000 - Disclosure - Risk/Return Detail Data {Elements} Risk/Return Detail Data http://xbrl.sec.gov/rr/role/RiskReturnDetailData false R5.xml false Book All Reports All Reports false 1 4 3 0 2 45 true false eol_0001104659-11-014131_STD_1_20110314_0_396770x-9994220_429423x-9994225 10 eol_0001104659-11-014131_STD_1_20110314_0 8 eol_0001104659-11-014131_STD_1_20110314_0_396770x-9994220_396840x-9994215_429423x-9994225 1 eol_0001104659-11-014131_STD_1_20110314_0_396770x-9994220_396840x-9994215 26 true true EXCEL 13 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\U.&5A.6,Y8U]F,C`W7S0X-S1?834R-%]B9&)A M-C=E8SAB9&4B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E M;%=O6QE#I!8W1I M=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T#I0#I0#I0 M&UL/CPA M6V5N9&EF72TM/@T*/"]H96%D/@T*("`\8F]D>3X-"B`@(#QP/E1H:7,@<&%G M92!S:&]U;&0@8F4@;W!E;F5D('=I=&@@36EC'1087)T7S4X96$Y8SEC7V8R,#=?-#@W-%]A-3(T7V)D8F$V-V5C.&)D90T* M0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B\U.&5A.6,Y8U]F,C`W7S0X M-S1?834R-%]B9&)A-C=E8SAB9&4O5V]R:W-H965T'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA7!E M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#Y/=&AE'0^36%R(#$T+`T*"0DR,#$Q/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^36%R(#$T+`T*"0DR M,#$Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$2D@?"!''0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\U.&5A M.6,Y8U]F,C`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`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`-"E1H M92!%5$8@;6%Y(&EN=F5S="!U<"!T;R`R,"4@;V8@:71S(&%S2!I;G9E'0^4%))3D-)4$%,(%)) M4TM3/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$'0^/'!R93Y! M;B!I;G9E2!L96%D('1O('1H92!I6UE;G0@;V8@:6YT97)E2!N;W0@869F96-T(&ET2!M86ME(&)O;F1S#0IL97-S(&%T=')A8W1I=F4L('1H97)E M8GD@:6YC6EE;&0@;VX@=&AE(&)O;F0@86YD(&1R:79I M;F<@9&]W;B!T:&4-"G!R:6-E+B!$96-L:6YE2!C86X@&5D M(&EN8V]M92!S96-U2X-"B`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`T*;&%W"!P=7)P;W-E&%B;&4@=&\@=&AO0T*8V]N9&ET:6]N2!I;F-U M<@T*861D:71I;VYA;"!E>'!E;G-E2!I;B!T:&4@2P- M"F%N9"!C;W5L9"!C875S92!L87)G92!F;'5C='5A=&EO;G,@:6X@=&AE($54 M1B=S($Y!5BX@061V97)S92!P=6)L:6-I='D@86YD#0II;G9E2P@=&AE:7(@8F]N9',@8F5F;W)E('1H96ER(&UA='5R:71Y(&1A=&4N M($EF(&$@8V%L;`T*=V5R92!E>&5R8VES960@8GD@=&AE(&ES2!R97-U M;'1I;F<@:6X@82!D96-R96%S92!I;B!T:&4@151&)W,@;F5T(&EN=F5S=&UE M;G0@:6YC;VUE+@T*(`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`@("`\=&%B;&4@8VQA M2D@?"!''0^1E5.1"!354U-05)9("!'4D%)3"!-0T1/3DY% M3$P@24Y415)-141)051%($U53DE#25!!3"!"3TY$($541CQS<&%N/CPO'!E;G-E2&5A9&EN9SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M1D5%4R!!3D0@15A014Y315,\6]U(&UA>2!P87D@:68@ M>6]U(&)U>2!A;F0@:&]L9`T*4VAA'0^4TA!4D5(3TQ$15(@1D5%4R`H1D5%4R!004E$($1)4D5#5$Q9($92 M3TT@64]54B!)3E9%4U1-14Y4*2`@("`@("`@($YO;F4\'!E;G-E'0^ M04Y.54%,($953D0@3U!%4D%424Y'($584$5.4T53("A%6%!%3E-%4R!42$%4 M(%E/52!005D@14%#2"!914%2($%3($$@4$520T5.5$%'12!/1B!42$4@5D%, M544@3T8@64]54B!)3E9%4U1-14Y4*3QS<&%N/CPO&%B;&4@86-C;W5N="X@5&AE'!E;G-E M($5X86UP;&4L($AE861I;F<\+W1D/@T*("`@("`@("`\=&0@8VQA'!E;G-E17AA;7!L94AE861I;F<\+W1D/@T*("`@("`@("`\=&0@ M8VQA&%M<&QE(&ES(&EN=&5N9&5D('1O(&AE;'`@>6]U M(&-O;7!A6]U#0II;G9E'!E;G-E2!B92!H:6=H97(@;W(@;&]W M97(L(&)A'0^4%))3D-)4$%,($E.5D535$U%3E0@4U12051% M1TE%4SQS<&%N/CPO2!B;W)R;W=I M;F=S(&9O7!I8V%L;'D-"FEN=F5S M="!I;B!M=6YI8VEP86P@2!I;B!T M87@@97AE;7!T(&=E;F5R86P@;V)L:6=A=&EO;BP@2!B;VYD2!I;G1E2!B92!S=6)J96-T M('1O('1H92!A;'1E"X@5&AE#0I%5$8G2!M M871U2P@=6YD97(@;F]R;6%L(&-I'!E8W1E9"!T;R!R86YG92!F65A MF5S('-E8W1O2!I;B!I;G9E2`H80T*(G)A M=&EN9R!A9V5N8WDB*2X@5&AE($541B!C;VYS:61E2!A(')A=&EN9PT* M86=E;F-Y(&]R+"!I9B!U;G)A=&5D+"!D971E0T*:6YC;'5D92!S96-U2!T:&4@52Y3+B!';W9E2!G;R!D;W=N+@T*(`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`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`@("`@(#QT9"!C;&%S4EN2X\2!A;B!I M;F1I8V%T:6]N(&]F(&AO=R!T:&4@151&('=I;&P@<&5R9F]R;2!I;@T*=&AE M(&9U='5R92X@1F]R(&-U4]F4F5T=7)N'0^0F5C875S92!T:&4@151&(&AA M65T(&-O;7!L971E9"!A(&-A;&5N9&%R('EE87(@;V8@:6YV97-T M;65N="!O<&5R871I;VYS+"!P97)F;W)M86YC92!I;F9O65T(&%V86EL86)L92X\'0^=W=W+F=R86EL861V:7-O&5S*2!I'!E;G-E'!E;G-E17AA;7!L95EE87(P,3PO=&0^#0H@("`@("`@(#QT9"!C;&%S M'!E;G-E($5X86UP;&4L(%=I=&@@4F5D96UP=&EO;BP@,R!996%R&%M<&QE665A M&%M<&QE+"!7 M:71H(%)E9&5M<'1I;VXL(#4@665A'!E;G-E17AA;7!L95EE87(P-3PO=&0^#0H@("`@("`@ M(#QT9"!C;&%S&%M<&QE665A2!A9W)E960@ M=&\@&-L=61I;F<@:6YT97)E&5S+"!B'1R86]R9&EN87)Y(&5X<&5N'!E;G-E'!E;G-E($-A<"!W:6QL(')E;6%I M;B!I;B!E9F9E8W0@=6YT:6P@870@;&5A2!B92!T97)M:6YA=&5D(&5A2!U M<&]N('1H92!A<'!R;W9A;"!O9B!T:&4@0F]A2!R96-O=7`@9F5E'!E;G-E6UE;G0@9&]E3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\U.&5A.6,Y M8U]F,C`W7S0X-S1?834R-%]B9&)A-C=E8SAB9&4-"D-O;G1E;G0M3&]C871I M;VXZ(&9I;&4Z+R\O0SHO-3AE83EC.6-?9C(P-U\T.#&UL#0I#;VYT96YT+51R86YS M9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE#0I#;VYT96YT+51Y<&4Z M('1E>'0O:'1M;#L@8VAA&UL;G,Z M;STS1")U'1087)T7S4X96$Y8SEC @7V8R,#=?-#@W-%]A-3(T7V)D8F$V-V5C.&)D92TM#0H` ` end ZIP 14 0001104659-11-018258-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001104659-11-018258-xbrl.zip M4$L#!!0````(`.N"@3YO22X.ZB```#YR```9`!P`8VLP,#`Q-#$U.#0U+3(P M,3$P,S$T+GAM;%54"0`#.32633DTEDUU>`L``00E#@``!#D!``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`8JU M6Y.OKWT+=_[1):^+N7'MU6BZKGN=X+G3V7F>F(=_F]6/KE:'2M.C.I/7:Q]# MG(1$.LOT[$?7G.K,&UFN-9\LX]S;C\[Z)6Q;^O\KVZU-6JTU2OW7*UL@[9?. M)*=F:7U:6+?:'Q+@RXNC5Z]?[SWT`2J'!P?\^YO#^/O^RYU?CG.5 MYG?&%Z0`_*A@>8[PU*O<%DJK1,2A=QHT)/^J0&L4/9`O9J6FL#>@)^,5#S\S M"7A,IL)&%.^+^@96M1JP MXKY#0Y4VAP]+DWLS?-"$Y+\:3<3LJ?0W_/WX\N/%D(7.FUBW(0A^U+TZM\:SK))W`2\_* M`CI_*FEOQ=W^J6'1G[Q:8GVUK.51S\8&/QOV.3TMX".%?C#^>?2^W$R,]]JE MV0K?P$E9:/(O.U5S>U_Y\WT*;AEFCGX^Y:V)AWV/$EH!>V&]N02Y_T'8^S[5 MW.FL-+25HJVGN5,%W/O"'I::_&G1GC3_3R*;'PYM?CT?#7 MZXO3X4B=#8CY"*%W\HERPG*1S^<.O]6;E7FJRWH3^O=1;2G:?4=%;Y0S!IN?[\Z:H#A M;V:K*^U(ACMS"R6]S^SDZU-I[)]9\=/2F7_.BI]N(]5B76#W);BNPT:QB4Q- M4@?F+=T`O-.%R@QEQS=[_\$*+*`24@?'Y/;6LR5VS';0"UN26J=,K,;6.7O/ MN0+::>H=<8,2DT`N/N")WQDI]3-TOS[:USGV&P MS/"AU(OGL)9^Z`>]+8S.R8/@:32(M4*&K[V`WZ7D!+242;:WV`]FJ&I\]`)R M,F=F988X7W>0RNFPGZR8VW)6.QE4IU/N<6YT$&(O8Z.@%**Q"AMD9\\P..?0 M5PSO9O"*'@`9+A%>B?ID1$=O>`L`T?7;L MK$[$31P_F!D[XI02Y6AL=44T177,:$*':D8A1?0YFR0;+G]E8Q=\:PADW.B.T' M`,SMKBL-M[;)O^19&A.D)>I+%VD9":4XLBB MAI*C13CKY$](3A'?L2PIJ6!_CI40,O"<#1PJGPQXF$D>CL''XHN=.XE)M9"V M84/X>6(:?ML$SF8NH:D)LR!U5YZ2HST M_OU_JF<80.1-.Z)9SZOQ;)"P`W@?:PTO>RJ=`J!X?`\^6G!E($FS0HRP84A= MSQQMWG:Z;^VVWBDPGJ?H\!8VH3<16@7<&YNLTWF5ES]4/:>>K-'(LS1')]'V M5!7LW<5[B&I7S#!!?ZPG7PF%@0#G"M.G^@`CP;F#`4BH_RL%;+0FA M[D]H^&^'H\OAZ?GQ[5!= M?KHZEQ[&^VL,@AZJ-D9+U,>KXZ>N,:]'MV?7%^?7ZO;3Z.KZ\W"TN23NRLF] MUO^/>NCQ7G1^9[,[PBB(UH@!?``NB3`$'*=CBFN"J<#]GJQUQM%R(EF+=#50 MX1>2CF@5S<,_5UP:(2<5*&$IQQ)4F]2/$2L\M74Q#N4+;EDEZH8 MXWJI+L"K':=4$#8P!?-AHR`^/NRT7;2#8(#`#]1Y0X:HA"EDQ+)4CLP-478! M^%38#B$FZP92EEDX(X`RRDDD'K1&R/`Q-T^%L;;7Z52"-"<2?Q)I?OOC6IUX M/;T^-3%'8TTE"'\-`HMG8H0QF%=0%0Y&8]\WMGQERKD`DC MWY,T;_.J6.--)"ANZ0L26_3,(@S4J0C@-T@P@=5K`](1CRN7!7([U7*U]B4A MPGL7.B?]D=-TL+U*Y-/T@?V;Z[Z&;>L\X87Q#FQ5"_R@8HO\_$IJK1-_A`VWGA5AU^Y)/(=:9_L M>=1@DNS#@AS<9Z![+.G$A-)ZZ>P=J*6*3M..D6`2QH-'=#A0HS`4E"*=!:(5 M>5D@LRP`^^+8VZPLH$BYCN027K+C`>PYE@<80A$2.[1WJJ`IF[RQ))_;`HZ^(%-[JUCW-)YO>%P MY$.*.2L=!4LOAF1M#YK)$/#94!=S,"/OW*6V]-FJ[YJ<:-7N8J'PZ)PT>2X& MZVHB%7H:)?*"@71YJ7.^U2B2J68WTM9TI#C8B?ZQ7;T)8B=4L-FE%P^_IPHO MU*;DMJS2JK:,M+K%"I>E@VF\B4R]&97/ZK*-Q>'W8WAAQZN>TT:YP*VW41/^ M1N^H5HSGGLDZYR>WT:JM]7I\5^B!^B12M]):<`\&S"S]JTP3<8W&:FM;E>89 MTPG!EW:B;FZL@O,)1F,>&*<*CN8F*U>690FT*U.(^@0C:%/"%\@N?$`D>R@X MO>@Q?+.NM:0;>'7\63['#PTN$]RR[F--,Z1HCQ)NX),HT$0M"VVBT4IAM#>9-.]\R86# MG49_7]`_4RHO@ZIL2&C#!YDRM$Z5&GL\50_4+]&]YG!WKG$7-`<,9`Q31;B7;@,M&S,0CI'U9W33SDA MX+,RSU(D'1]<8RI;2OH$\M2MH0,"0;6I,W]!8K)\"+2"BE1GD&RX@Y#Z"1V8 M>':,4(\CY5(^8PWCTT5:+J"ZH!"QXO.-14/=A:OJ#%(X]9!7O!2+2;X,3HCT M"9`=@],ANE"?SYK24*405HXN$4`@*,V#HF9\9"%]<21X:KL(V)Q')L-'L`([ MU3-N7FRN5AXA'70>A*!ML%@!DW$X_R,#U'&>-A<"K'R(4-&KZQ2F.)T&"GP^ MR[C;VIZ!Y$.XGSU"*B6.B-\%ZWB34T_XKJI^OB';(Y.&`[#,YA3W)E[S(\R( MU))<3;I:"\L-3UG4/+)@Z+#V5.E+ALU8ELS-0F8(J!,(3O<@`N9V15,6$(@H MS$`-UR0DV[:;<5KEY6)L^/R5T(4NG?5FA[[7'>@3^!;B.S(K.-[\=H+SN)$!<1CZ]_9 M0\U#ZHN@#HQ9AJJAV7YB)Z:((P'@G615\H]T0N4-50I(/JB&&/K5.O)#F'&9 M28O=*4[$`J4`SG!>V.-.MDM"H6Z()`.I%DOQBU`1PRTB8ZP+*4K=0886D]%U MNG5*@*?:"!`!C$1S\XUT5YP8(D+%E#@5)#!$O3O$HCZ/#81:NX(TK5W@I$B?(JYY*)CF1RT` M-,@]N41*[V3C\;@!DT/QQO6[[(W;#7*N+,&WO377=R96QOC6/`"&Z;H:M)2U MG(<<;'.7&%Q\WW(SUSM5:DK29%;*J+1J)]Y MBYU$'^'=4&ED1AK>TN@(O8(9*FJ$35M MY*H.0:XH./_5!E?=E"HI`9([T@$NGV48.2!9*58D[\J0.@2&"("VQHAW.VDZ>RBFA]VELGL6JYY'"H'E> M%)J-5;^T9DAE'N@P+,HF=GJ9)I3K`YE-'->MN01_JWXC(9O'\<1Y&A"2)W2) MAP^G#!:!>X1S1&:>ZS.)']6,-/IRR.ZR3C#L.E.MP:G1&:;5*-4@VB2Q!V^C M^R2%W]"+#L'/NH/:8[>I.L*1.P+5F1/TRN.:$4C9ZSXW3?;CYG]K'I3"2?,@%HK>F%V)`63FR8;&_5J%UWD+CB:?*T($,\ M;[[G6*."((LHN+W%?[2$\*#"J<+!!5VK$#CV5#IER3TUXT)K*F:Y-FY2II4( MBZ=[HU`VT3#^4PG%-R/[[^5TKP$E$HT-_HN(9#+1(;B13'*:%*>M>%S5"F1; M54>,H79KQD%OG5/^'2N--/C8D\[$)#WIXPLY8J!GH3MC>K$9Q/?^4.SXOY$M M$"/S,`<`P:@5=VF5V^=Y]09NPS<1H8_%KQP854KZ$0']9>@OD%A\$B M&;/XLCIJX&25K>A7\'YNJQ.Y5K8LN*M,+R@]ZE@O$0S$X"1UU-O=T(JJO(2; M@E0"MA041I"<=ZFY#X#>A"]J)5G+9)VE`(BP&'TJ?IK'$^HX;YJCF=V(TG,D M/W).+WV3AE/%C,S]<0&0VJ'#0^_M)&7GY"1.DN=<[G!3E*^OR86&F*CDJ*`Z M):/$(%\$`*HNF*Q!S.7&.Y5MD5M:ZU4]RD8><55[\G$U/7)5CJU&IFS@C23) M4,H(IM:C*PRO4VA&)#ST`^4J9;@+62%75-2FTX+`7R*Z4TT7%VL"4>>&ZL;R MO57)5%DA)%YH;DRQP;3J^G_"=2H:+19`8*E8)$)MX=!.9CR\:M MENK>)5TP#1X&^DP6].J9+ZE+[X-G2.N40A2:!MS(5=?JG'8"ZU//EL.X1X0Z M][1R2"I.E0RYT,CS7D6UVKO`1DF87JA<1#*N:J*2.5'0`EFX+U(=`?+=69#D M^N_#@A]DV886=+P\2G-O+QXIV;R.<;)PW'K-V32.'KU()% M'A`B'J\8"8TM\ZF^LW*LT"R#]0/P1M\3R0F.PG$&C(U56EB%VV^$#J-P&?E& M#@9K\7DN7<*\,6=:NO29\TWZ5.="]$JY.RQGT56=/9188U;&O0W^:RE!&?H[ M_7A.I*L2JZT2+L[D#ZS:IM$3$#)?A9ANWG/C@=WS_]AT$D<+-R3CN6IX$$2O MSF1)J1B\=I/X&S>(*9LZ*X?D&:<.#J;N7E'9<=1TQ"*A)"!MV,;%KN:] MD04W*&B7G,DEZJ]LWC^O"]0/W&U?RU3O^7CK&S<1>XS].W^6^5<1K;?#F8QA M.I!\8G6<':O#4KX9%`Z5&BF@H.N`[5[;^E3,O0"S,-_"1PZ]^6Y(=7W$2Y>V ML11=OMS0M!JHBXW-K-"*^]_VKJVGC2,*OU?J?UBYC9I4)K[A-""*M`&'1`6" M8FB:)VO-#L1BV46[ZZ9^R6_ONAQ!:E"4UT% M\WK']DVQ;9<%[,1]A",5?5[K3[EV<%#LCT92E&`"37#T%ZU=MSG%A1_CG,#%?4(N6<>_A)W;&8`E=YR\!06- M#I,S:[1)].K**UEL:"JT)1.=_5J1*!G.KA2'C:@R&C*'+W*`#3K103U^0A*. MQ>+3Z1,H5A@A1V^#/H(:#B@CZ>4LLZX:X6>.+!=L:#8OZ\SH7#)5:MP8=!)0 M&@`[D:!G%R\A"2IL%A(>C'P+YO>"AR6P:U)=XUCE7@%[B8)'=#GA3%X%@XS+ M+88AH,,TRY6!H^D0O8#7M.LG3DC9E6(`K`[&GH@;#+?(SJH&KTGDB`>2CA&. M8*#+%Z:3XYY%UX%N!,9:P`\8VO2>_H2R-10MS_B0WR<2`Z%D+DA1^ MO<:)RIG/0!^@VZ"2ACK,M%+!X:[H[Y[3ZBU_\Z&YV.1V.WCD4E&5]P^E^M M-H!3R6)\_MX_'QV]%0I+I-3E1ON<)DR<_T%-Q[-<^6&8HAA^(,)KJW*5I)W67O4U-%$%9FUED2A/>]U`3Q7F,`G<&I35GI;>\N M(GF*.;HY'%%U#%#=^4O7MWP`;"@Q'7%!DE_%N15L6%TI\<%9M1O%P"*9,UPS M("@L?IS.&:^&]N^//XP-3$L'5"JSTCA>,R-^'(-)\7H>A^^8N^)K>2FC0@E? M98;`L@$[?8$EX3`2'@6+W3B)50O'\<5;6I\/"\EU*J0?!GDP&0.%W?YOO>&+ M$T4(G4M,#,>L_-GD6%T'$9?$\O^9"9EO9J/S<`]=I\4]/+T`\4*[6N[,12(:WIT=&A'E/ MS7_G;_QSK-7BG?D?O9%_\,;[./+?>S[(/`_>.P#)XA^-O'>OX<_)GR.A+"'=UQ1`/TLX#XGB"C6K!!;-D MCCCK7%-VR%5:=/X[;>9]! M!._TG^@#5"?WNPE?]N4:B=/(F@U%TSZ`8?G>8-J^G=.U.(I'=:RN/L'5BG%G MW,'7/%#>8":YJ1*@%:'<5@L1WS3)>-ZEZ(+=XH@]!NDYUHV8`HGHB>M\"O;0 M)S1.JWS:..`&-MU8U1[83!$5U=%'`NJ>Z->A,@'H45;1'>E!`NL2#%"66SV9 M37X+.C(AXKK'Q+0D1!BKR+ICM,AO'47,5!3YN==MP^@-;HV@.1KPJ@_C4$=4 M8T';Z_C<`DLSF(.6CSI$IIBXM+14(B;*DB)%>G22]B8H$ZIS`4T-G\#!S4PF/VYY"((SD(Z+>11T;'.8=0TN>%3TA5W%745G0RBJC(JEU55Q]%% M,Q&@@S02.:4=1\SV#!-&1XZIT2U!!YH(\8E2*_SZ9XDT[C;IP(W<;6N@BE-N MO+B=)M'#,/UDNP]_!_IWV`1')R>ON&1JH?O_4-1N3926*6NN!;<-VDKX>^LJ MGH43$`/;+WN#P:0_Z?5;^UO=Y]UA?WO%HG<-)]!'X-U>]\&'):7$)Q?C0W=T MW=;^L/=B4,,[3-<2HKO##1+='VR_;""Z.[3B#X\\K6UOE(?VB55V6$;54V6H MML!BK/NX<;*[@RZ1W436,A;I;9!%!B^:&*2WC.3!!DGN]79VFH@>&*(/'6B! M'X>"`>GUI[W'P2]=YI=5R33C.E7YH]FKW<&0!E%+4YE]-D_N<%C@FPJM0A5) MLO5116U#ZXIL(/D$GSG_\VH&J@W=D%"\_$!?\'#P]H]BX7;[FFTJ4]=XXNSO M\44-NZ#04?!8K+$0--*8+U%!I:)DD;7VW4L4=LNVW%ZGMM$5^BK482\:=J4^ M#[#/E[V=>_OLZ)'*G'8*D[K'NK(S+WF0YE0!WJT/;[\U#RHI[N\^IIR"_]B5 MT_A>1UAEG7QSKUKXV/A(WUC@E(/57]7QU?P63213`YJ*30SI*7H%VY5@`FU^_CE7D=_XM?QC=*[KGI<;D)^VX7?FEOB MNYFNDB3'6LS'L_A&+E:ZYQXF\O_*M4G.=4Z<4*5"0PRW'R67A?N:?JKQ$,@# M43!54:T+H=`1M!CD2=KJ%#O2`RDU)M_J!DU;JPQ2OUSL/U59,D_EXC#H!^^B M4_'6Q9@ODM`53#"8CZN>LD<+0^37J9(2P)RTA$Y:'>CM$/!)/"+DR#-.N:=< M!=I%M+4Y4M.N=[ZU&4J.T'H*M52"R6WYY**8]&_/"DGWE!KM@7KO<;32,]$Y M3RO1Y/?,RG%G?+G[?#!\XGSW2V8"*DXUU:<"DC`AE$-" M<]C)D2U;>Q*DEY^\7ALOR>M7VQ!/H@:F8P)[D$9XH%`13RJ[0`&?._2?!B9S MXE42I&&Q-`T'SK!4`T^L)%12M5KK1Y65#*D(2KQ@IS!ZGLF]BE6?J=RS35TG M;`?EG9A6"/E(2-P4RX-F"65]V8(^&K9IW+(.G,09.\.[@(F`^U3XG"6)W3#U MV\A/];Y%"I?NRF3)-KO_6C=YHH-U,K;LCB,.E#L?W=T'C\O.+X\#3S"\OY"^ MAG_^!5!+`P04````"`#K@H$^U)/@O@(#``"!#```'0`<`&-K,#`P,30Q-3@T M-2TR,#$Q,#,Q-%]C86PN>&UL550)``,Y-)9-.326375X"P`!!"4.```$.0$` M`-U6WV_3,!!^1]K_<(07D'`2IS_61.M0V0!5VJC4;C#Q,KG)K;5P[,I.U^Z_ MQTZ;LH#5>RZU$_]`!EJC(N)UWOXW`[MU]79X!I%/`:9%,4N"8+%8^)A-F":J=.ZG*@\` M"+D/_6G%,H&V'_N-AT^&:BZS!#JM.+[IQ&URV,PH:6(S)1U*FV3<;L2M^+#= M[D3MAV8G&E?\,LL\@2BDE(0-0@\O:)2T6DF+?JG!U>Q.\\FT@)?I*XL.6\29 MU%+R&OHR]:$G!`P=U,`0#>I;S/RU*['.!=C$2]/U'LA?CK7PE9X$UG MP3-8@9.EX36#1:."T^#J_&R43C%GA$M3,)G6#)VSQTQI',=!^72%-CPQI9#X3Z*WW MIAIONE[Z-;0JF[35::[2'C9HT_EY,9BYSK/]^FXY0VG0G+*"78\L/(P.::M] MCOD8M0DX++`F6&627& MN?^+#$H"EH)0:2VL<-53NI["==2R1`93?Z)N`ZUMI6AH[RZI(0DC$G7*M&I] M?L)[.1[6.>(HW&]#VB&=BIT3,&"U.%$6R,HNO]CF6P7P55]K9Q M?02S9U8V!Y\9M^$&>H@\'\^UP1QEL8WE#C9[9GW.))N4,7]5_8W(/3/\B,4N M!7\A=VFX#W_!Z,FYZN4V4ZK1S:OS_-FOIP7B,",\_STAOA!>:5 M_8U6^:;7HXJIME<;E,Y0EX<*>WFP0/=%7*T]F&FN-"_NNE[DP=Q8IFKF6##Q M[TK=?2"NI4?_C?2-_;M6VGPJ2K<.B;78+3J?3#/OHG.7#]&?=?)1\,/IR!V! M[T^.=O$-4$L#!!0````(`.N"@3ZKLSK&[PH```K&```=`!P`8VLP,#`Q-#$U M.#0U+3(P,3$P,S$T7V1E9BYX;6Q55`D``SDTEDTY-)9-=7@+``$$)0X```0Y M`0``[5U;<^(X%GZ?JOD/'N9EMVH,F%N`2F:*3M*[J4TZ720SW;LO7<(6Q-O& MIB23)O]^)&,G^");!GP1T_J*JB7%_]:S)5[FW+M*%RH]Y!%YD; MY:L.+8B`"Y5'L'%L9_FB7,&Y:9LNJ5:Y->WO,X#A;PK]KZ&0G[Y^F-XJG::F M*$^NNQJW6C]^_&A"8P&0ZGAU-W5GV5(457U]\U];D&-ET!PUN[M/IL[:-L;* ML#\:S8>C@7K6,S2U!WNZ.M2TGCH;=$?]T=E@,.P,=HM=(@@\?`8!/E8Z;4U3 MVUU5.WO4.N-^?]S7_A<2=U8OR%P\N@H3`GZEQJ(J?0G5>NH7:VYP4;C=_K"<^18<`KGBH=X M[+ZLX$4#F\N5!1O^;T\(SB\:^OUA_VMIW4[FH]6L^O5XZ^7D+;#?X% MMG%MNZ;[\BK2;V0:JP:<@[7EYD,7+UX.5F<)3'MOJ-O212+UWJ`N_7F4"V:H M:($8GT@52%_/H/K:,OF0)E7@XS5>MT=T=Q3"##??+NDVG:HC=XT=PA%NFP^ M1$=JM*`7@UTJ4;LPH>T2Q2H%?.5K'B;4JUWE4A'(Z_D2= M61S\--F8.`4\JT2E-#Y#9#I$,1D9+1^6JQ3R(WE3"E+O<24`M^K]DF!`P+HA M:\;F/_`E`6FR7(60F3HB]+A"@%.X,#%I+=O]!)9)G9\H5@G@6[@`UA8.0Q]$ M)?:"R7G00.C;9^3@%=&::_SP!!"\M`#&"!]>EC/'2E`8X>>O$-_.+!,4!DL./$$U_MDG[S'.+SU'SC)QMQB\SN%L M5\5!!D07C4Z3\&\WE!7932"B`,DO#66-"3YG19F`XOC%SN(LBAD[.\HYJ45\ MAEJS717#]!Y,6NKC_`LG8@'V=9(*22AVU/KEN9>0\$W:$#'N/%^/CL_5IM)M]C\;6 M.CG6+0=#XZ+AHC5\^]&Q7;AQKRU(Q^U%`\,%_9^:+0J9K1`_=%<^^8Y%)V+V MJ'S^'"CL""W,.ID5\%&NTF=CV&E@?U[81 MB][P-CJ/A-('\JKO<6L.?]&"#4\?`+HD@\*=V`99R+V#@JU##\._H:>)XN`Y MRD@_W8D[O0KW=O`/X7#X$7/4)HN5BNT30'2N/Z=IALP2I2+^8KI/4VC`I:?< ML[1:CK+EL,@:#.6.@AS=?ZQ^/SD7W/WL_]O]%K-K8Q)E(?J,3&JP3^E7*\-0&O,0,0N/R\@84 MA54L>=S"`5DQH[M2'3S!+D78H9KF&0K(";NPQXRA`2-AIUV:.34@)^RB'O)F M!6R$51HLGUA`3-@="D^(8'#$$?;XEA%_$/#C/L.5%O[*>7'8:5P]P^^'NJ)? M;YBSM3>\;.,!HF=3AUIGIM%ST3U9^"880SXI@[P=LL/":)DMC,24+1O@)NCSC M,EFL[(A'=B@06[1HC.X31#PMR!*4\7G%QN>]\W@J&?MQM".(C/VH3^Q'DB7,'-'4O/OM7GYI5"KK5>-EQO/82S@ M6LLU,@=7QLDCH%>AWI%QA3*N4,85UD:A'./""\Y@^=(L_EGI-D[#U/^N#.6< M(+]UI#V_SO;\$@'N.Q3VO0B";3YER)6*[K\0H+:6A9$1*.HNDJ5Z:ZNN":'=9*NQD'20K.SG_0;$>$M(W->!XFCZ2))]" M^@;J/3D4N%HB>4=7N?&D&&;=VEM.]F76K_V=PGLRHSO2ZK]\RUX%Q7+&'M6Y M7(\5+KV+A/8!%.7>J$7'20>'='!(!T=9#H[H*31RE_=.1NYW<`%V;;TP\H,+ MH?Q(TD$C+Q6O_Z7BTELCO36%(GOWU[[+#\N.]V'9,5'3)$'W\T>(EJ8-7#/I M&ME]*I$^4/G!W,$?H\G$"B>96*'V'QF^':`GSS3><69:1&%\@;,'TX43PT`0 M)X4QK&LM;8N[<%_P60Z2.[GV\-&^E<_EG@,E) M'.)/#CG:&B:I'7Y9\#RQLK'5/,W)57+3A9_+ M2#&9=(6)X];!\,ZQ:>;>)"1OCTO`4N\$,)XJQT2%&U=PY6"3U/I"?B"'D77R M!HVG4`FX9>(:&;UY1$0R<8U,7',RB6LTF;A&!N8>N^-.*5Y.Z.`R&7\EXZ]J M&'\E$]?L?ZENQ/)1]ZM6#LG$4\N5FX<3,Q5/E=>H%)V+1ZMK/.>^R7@T82_M MS\[&(V[6C(QT/)JP5_=GYN,1]R;XS%OMNG7]L"F36O[[[(35*EDWV?6$W8.D MD1)VTN6XO*XG[-*=?FM=3UBULE?<6\!:6`V3F22J)^RVA2-)5$_8K0LCH"'@ M5=>S`05H&D7GHP.!']$;GQ8"!L M]C)63L`S83N*(R?@F;#=E903<"BL;34C)^!0V$4Y$HL6\!%V,\\5,1:P%%9S MY,CD.!)V:/)EPFV3.#T4"GL).4KZ/&0*:=5WHCW$O27?O M>TG.6_1E,X`A^>-O4$L#!!0````(`.N"@3ZPRP$P\0H``(E_```=`!P`8VLP M,#`Q-#$U.#0U+3(P,3$P,S$T7VQA8BYX;6Q55`D``SDTEDTY-)9-=7@+``$$ M)0X```0Y`0``U5UK<^(X%OT^5?,?[K)?NJMBP"&D0RKI*3J/66J33A?)3/?N MU%:7L07QMK$HV:3)OU_)#_!#DD42)/;#/`+GWJM[S[&LE\W9;ZMY`$^(1#X. MSUMVN]L"%+K8\\/9>>N/>VMX?S$:M7[[^.LO9W^S+("KR]^'8[@+`S]$,+)N M44S\%7QS48"($R-X<%8XQ/-GN'$F*(C@Q@]_3)P('0#[MP`;"L==0_TP:>PG%[T.X5OQGC9>B=PDE_ M,)B>#(ZM#T>>;1VA(]TC:W+<&_0''XZ/3PZ/BV87!#DQ]0@>;?0I''9M MV^KV+/O#@WUXVN^?]NU_E^!X\4S\V6,,[]SW%-WM6\RD5(T#&(5N&X9!`&,& MC6",(D2>D-?.7`59+8#6/(S.6X7T5Q,2M#&9=:CO7B<'MG[]!5+PZ2KR2P8_ M>SG<[GR[O;EW']'S`8=))O4W3DGT:)EQOL)K51:"`( M$>PO*X=9["/+/K1Z=GL5>:V/+.!9P!3"]`%)*T[CYP4Z;Z%5C$(/>:WL4X(# M)&D)^SII3NJ4N<5NR6'`TL$D]_=(T'3M+T[5ZJ,H=;N,.LO(FCG.@GD?=$(< MIG]YR&=)#*RNG27Q=_K1]^&CW8,(P\X`BV"6-0NN/^];'-088Z"SU56K>D)3+Z!`WCT7_MZ%] M&:+C8BK&16R5FCHE>,XK3QX.B]+HO(3BI&$1K!0HC%#TXDP`]4&E^HJ%^5&J^E:D& M#6S3'I$\$GM@#F#M`7(7\%?BY#\F9/,2GIBBMB[*CL7VR2$7CPZ)AZ'W!9$I M)G/6;R?M^`=RV.VWSJJ"C1YY-3=$H"MJ"(DE.%19!5M(C`\@,S>D+'52,DDI M%F([+;D_NO2N?F3W3X[284:W9Q\ENBE^\_V"_G_WQ![TCV_1?()(A28Y]HUU MXF%WR;KJ9-RP34,$.OF=.'X`M^XE#D-$!U2C,$9DCCR?#3%OEZ'O^@O:/WW" M5$57#]<\N>Q$^R_)90.#%+>3UM+Z1.CFC9K\!N7?]=6J="FPJ[0Y_QWW])=^ M1.=(DR6[-&@_<4^G!+Z+[,.)?8U0=$?G7L,H0G%4[V:5+?7T^JK-$8BJ:,ZZ M_PXF$*4^X!WU8MGO84H=&>K[MZ4INP-L5907*>VU>.7[U5!H M@=QX::2/$%>ORG0A":,<7TVGM%K^$VJXY,LXS8R7@C==]&OP7ESUW/I6Q5#/ MSZ@F1F$R2TDZHNRCX),^4C!0]%YT*=P"5^513]"H*!YH)`D=R=>:)@("AS-+.+VJ9?DY6.UZ*S+:[KE;.?!&@X81%=^/Z M2I\`IV>9D1]<0'H&A@Q]:FCQ4%[8;*E0DIA6WH7[BWR8"=;ENX@5TDWO&DJK MR^7^Y7N#KZ3^LT/8QO>3["Q#HX4)0=2;H:J-M>5>J$-,`%T7029@M;$SJ2-4A54B]602]1@:D-;UFMQ3+H M&9)!7XF+OCD9]%\L@_Z^R:#?+(.^&1G8714N*,J4#.SNR^\)W3W3P:;80AUD MZ>K10=.\U0''\!/(6"R[V5I)!;98WRRV=D&_8&S9P@ MW1(4',6K(C1MOE;"2G?9#1^T$]0PWW#E9;+C#NK6"9U9(KJFQSR$2#U=C2B\ M@.X-'"C>4`_15-RL&Y"FMF/^/Z-897C+A^EAGAO[%8-<<*8QO:'LYSA'RD>F M%W%!=BR6N\E_TT/BPC6.&D*/1*IA!>H8A4\HBI-.86UA>M%#5-.,:VYFNFC^ M0ORY0YXE"Q]BJ&;BJ_$%"O"Y"LB,32M`5.ZJ%+BY[EH3U7<1B(]EB:&:-"&* M+]!$_0YAZGQ68Y%S)4@SU*V$"V?!G[<*D89TD(57EL$!9!;[(H=*I45J*.:Y M:S'$CXBH#"!%0$U2X$<7*8&A3:^)-E0VYUZ2V(ZI+[Q)9/CD^#0+/Z`3UZ]H MC(UJ==#G[8* M#QF.@F#)[G,QBOYTB)^U[FXZ1O&2A'*M;>%&N_;4VZ:BQ8(W*+B#@C^V?IIY M-*_.[0FNJW7+"NI3K\KFL1RN78W*F\@EU9G>2%:J>5TX9C:4"PWXXD3Q)4;1 M9QR/0L^GWM'UDBJU^H23JI5VN0B;HJ(:9@S,&J@YY/:0.C"OI$9RZH*2EV/7 MNL(DGN+`QP^TJV.[9L)U.B%2DWX$X46:R>&0XTVOVC55.A>&+$_=8AC77X8@ MA!F2P5C\*@2>!L:&7H705%T1^^-7O0CA%=3+1A]BK"$1-(X[:DK8%PT(!QSR M%'>MAO7[J#BO0ZE_KXGU4M#&-VF9>NF)L'PYL_4TM+%Y_^@0=!$X4<0YCR%# MZF:X'%YT/H.!($$9/*2A4.`:\YSTM&D@>0).5OL4H)OQ)&KC16UJFT50OAJQ MFRQVS.?8CWX(A^K%+_7P6(@H>HD%19@>@G.*EC%8;;\&]FYPA&YQ6'OW4.UK M?0RN8THY9"A(8`9IK%6O0&0Y#0U4JBS9"7#ZR%5>I$M9-KTZ)Z]K@6TSZW%) M9+9@$RT)\B[1`D<^]?I,/XC]>,G?W58QTB@(>4ODZDC6WA)CV%A#P=RD;-1X M*6I(H10:!)5N.(B/R7`P^N12#BQ11R=%FAJJB0M9()R3C#9^I<.V,D0WN\U# MN(S0D_W6PW;O-IE[(29J(99K\O-1`>M MCSCP$&&/P@A/E@IP&BFN!9<1G8+9@TC&SY3**URDGI_AK@60G-R9/0N'556` M)LK+49L?+\D-3`^M!/7,>>:DI8E@E546"58O[SMFS+%N-NP4FQH;?_/:\S3`0WFWV(R"+]-[0T'RK/&OH/1BH[P51>@?Q M\LNK/I:7E,C(6P<>2')KNG^>3S#OX?_R]YK>.%`**GH2.<5`"C+UP@%N^?+7 M#=332.N7-?:&8NG?9^N?4:=__`]02P,$%`````@`ZX*!/@F*H](C"@``[L`` M`!T`'`!C:S`P,#$T,34X-#4M,C`Q,3`S,31?<')E+GAM;%54"0`#.32633DT MEDUU>`L``00E#@``!#D!``#M75MSXC@6?I^J^0\>YF6W:@R86X!*9HI.TKNI M33HIDIGNW9<W/9W7T?'UW5_OC]Y]_NOQ%517E]N9? MH['R:%NF#94[]0&ZR-PH7W1H001:NNQPV&M^_?Z]#8P:0ZGBUUW5GT5`45?WQ[K]V M,(=*KSZHMP^?C)V5;0R5?GK]_J M'1:[1G"'SR#0ATJKJ6EJLZUJ%R]::]CM#KO:_T+BSG*+S-G<5?ZA_Y-(-[LJ M+1)JD]^4.UNO*R/+4L94%"MCT@YH#8VZ7Y7EMX5"6M[&5[4#^IL)LNH.FC5( MW>U&(%C[^2=E)SS<8#-4X'L[$-<:7Q[NG_4Y7`#5M+$+;#U4D%:65%0;#`8- M[^E.&IM#[-5R[^A>VW``5)@2]%]J(*;2GU2MI;:U^@8;M=_I"R^18\$QG"H> MAJ&[7<*K&C872PO6_-_F"$ZO:OJW)F'9T;K]SJ[9FVVM0^OY]<;15PLRU((_ M@6W&@&D!8VUB!V%OO%&I!E>%C6/!'YOX MVQBZ*V1_?28RS=:%UNT]P,4$HERHT^HY&MC')9WF1#G<;I;0QA#?`!>\#3=G ME4>CX+_F=@-HJ;=ASZHK)VC_A=X_]!('EZ*&7 M6E05.2BQK=S=>F-"O%,]*]Q8874&P))JH$'#=NS=OPQH4@4T4)N:KX!^)3]] M'1$T!D7TT0*SX`T6F$#KJA9_WL@%D3T&#Y]\O::CIJ\-]B,PA")=-A^B(S5: MT(O!^DF&#TQHNT2QDP*^<1;`M%.@^@(G!7D[G4+=-=%?#"+@Y]& M&Q.G@&>5."F-)XA,AR@F(Z/EPW(GA?Q"WI2"U'M\$H`[]7Y-,"!@W9$U8_,? MN$U`FBQW0LA,'1%Z?$*`8S@S,6DMV_T$%DF=GRAV$L#W<`:L'1R&/HA*O`HF MYX8)H:]/R,%+HC57^'D.$+RV`,8)R-(D2T/X`B96M'L3!`K&L]\JCB9T..EN M'%*"3"$[I?A>G;U38NS%"VNG_2A)5"!)$L6TT6JQ`&B;JZD814ZB,EX0H,:G MY^UBXE@)"B/\_`?$PU/+"(7A`J0'%9&_QHXL89.%+]%8DLZR756?F]:/T\X4 M.0N^;4SP?B=Q>ZDXR(#(,[>1_VK*DFPG$-&`5[5635EA`L]9TBJ!$`3YAM^> M MK(%I9-LK8'UD(F-;2G="Y;M&B,T4W&-5CN@C!C$%F213M9]QL)GFF2+EXT5@>Y4\R MZ736$#''(E.R;(1I3!VBN6,9$'V$*2LG0ZYH="[]R&>V98ZIJ$!)>'BT0XJL,($XU0T" MD5$N,LI%1KF(W\;.,(XC^3Q2^1F522IN'JS\I.+G%#
,=THW]/KF>N.18AV'!@SI23>1YHQ^JQRU'H$*P!#3%9`!F^:'"N@)O-3'C*\!)X&G7YH! M-Z`G\#(?\J`%?`16'RQ/7$!-X%T+3VAB<``2^'B7$?D0,.0^XY4:?,MY5=1Y M7-+#[P6[H=];F).5-\1LXQFBM:E#K371Z*GID2R$(XRAFQ#IP%U21MC*"-N2 M(VQ3!VZ"3,&HR(3X#(BR1(]H#,W%9(4PI%V6AI*CC(RSI(W[`&PP\YHF2V,Q M)0M&^`FZ/.,R6:SL>$MV(!);M&B,[APBGA9D"X(Z\[F9<;>MU3>$R)#KE1T_X4`-;4L;+Y4^V`%;+UW+K"G!!Z2NYT?U! MM3_=D2ZP]^$"DS9,:<.4-DQIPRS2AAD]1$3N(3[(X/H.+N^MK*%5AFM+4[$T M%&C70N.:J1R022L#X!3$[B$']RR-'6,$GM\..* M-%B2=YZGE$R#$'WOV$MGE@G/$RL;6\53--PD-UWXN0RKD0DCF#CN'0P?')OF MZ4Q"LG]<`I9J)Z_P5#DF*MRX@4L'FZ36+?F!'$96R1LTGD(EX)9)-]Y?J%N! MB&32#9ET0["D&[ER4C3/+0SC[&-191"9#"(+6D<&D37;Y]OO,HA,!I%5_-Y0 MX;YWR$%I9VVJ_@48;\FR4ETM\?HT*Q6^W.((>58T@=4%(]&*5M'/-7)0.M,\ M"!FI5C2!+V'/S+4B\GW>F3>0M:O[]5L(O"])HR7PY,MQ MT5A'X,4\_8:QCL`*YE5QB`%O@75-9AJ@CL!;&8XT0!V!MS.,,).`674OIWQC M*K6>P`L%=RJUGL#*-/7NB)[`"B7UXHB>P*HD]=:(WMEHDLB5$3V!LU2Q#Z`B_3D;C!@)'`&WVN^+Z`I\`Z)$?VOH'` M`Y0O>]]`8%O#*S\4"9@+O'WF_+PG8"KP9.7[""4@RKWT)]Z\'-D550)``,Y-)9-.326375X"P`!!"4.```$.0$``.U86T_C M.!1^'VG^P]D\S4@X:7JCK5I&#`54"995*2NT+\A-W&*1V%G'@2(T_WV/7:-0N8\*3/Q7Q@W5R3X^N3 MT@!3&C,?I(#;K^,+J-LNP+W64<]QGIZ>;.;/J2(RI;,]&3H`A"R5_9G9U8.V MW;4;Y96Q3(3?@TZKVYUUNFURV/1=TF1-CW1LUU2:U!W,.)6^^U6KV6^U=%7$;/BL_O-7SR/J-TK44,I!*$`Q@) MSX;C(("Q$8UAS&*F'IEOYU1Q&@G`0(MX8)6ZBA MM4VWU6FV*J"YHCR@_B./I8K33)I(U1IN\Y5#OE[BRK:UG&RQ)*U453)FGCV7 MCXY2AKM&:G52[Y3DDYCHYXC%5502.\6"T=,E-9D@&;H`M@/F[&HW=,-5+.4'J)L;'XI<(_%9KKYQ'RJS#5 M:@'W!]9.DDN+"IM\-N."I[;7S*$@4.#+G\?"AXP,2FSP)X!Z/:`!?IE59$HD M%M;31<1$S.(AU71#=G>4?2?16#+3.NPG`$WLE3LYJGG`UR.GB9*"KB2**K_X?KLFA2QFP&:?_1,]5[ M8,7<1,/*YZCR#'Y[Y^)$2N)&UQR+_[+WR0G>H*NM4IK\5_'+K2H8[A6;#:QR M2T2*)N$.D3:V)84H%D"C[63%!X8P/@`:!);SXT:@FLX]`H#`-0$8+NE^$O_3 M*KBGZXA9X_J%8?I)O'Y]_/=P'J%KG/^C1+@N!GVGW/CBJ-H8]S$$4FD0:WOU M#:\BR!Y>%])+B;9`S(@4.&*FB%O'5X*]B/W5B MI%EH:C&^7:>Q5M3#]^J,!NFU8?Z&Z.%UPJ4_2;%^HO+GH^`!WG;FA&N5F`V? M()KKQ*R>*YE$`RN#<^1?[\/ZCJKBPUN1'\V'[-FTBRN;)/];C_I.MF7Q\Q]0 M2P$"'@,4````"`#K@H$^;TDN#NH@```^<@``&0`8```````!````I($````` M8VLP,#`Q-#$U.#0U+3(P,3$P,S$T+GAM;%54!0`#.326375X"P`!!"4.```$ M.0$``%!+`0(>`Q0````(`.N"@3[4D^"^`@,``($,```=`!@```````$```"D M@3TA``!C:S`P,#$T,34X-#4M,C`Q,3`S,31?8V%L+GAM;%54!0`#.326375X M"P`!!"4.```$.0$``%!+`0(>`Q0````(`.N"@3ZKLSK&[PH```K&```=`!@` M``````$```"D@98D``!C:S`P,#$T,34X-#4M,C`Q,3`S,31?9&5F+GAM;%54 M!0`#.326375X"P`!!"4.```$.0$``%!+`0(>`Q0````(`.N"@3ZPRP$P\0H` M`(E_```=`!@```````$```"D@=PO``!C:S`P,#$T,34X-#4M,C`Q,3`S,31? M;&%B+GAM;%54!0`#.326375X"P`!!"4.```$.0$``%!+`0(>`Q0````(`.N" M@3X)BJ/2(PH``.[````=`!@```````$```"D@20[``!C:S`P,#$T,34X-#4M M,C`Q,3`S,31?<')E+GAM;%54!0`#.326375X"P`!!"4.```$.0$``%!+`0(> M`Q0````(`.N"@3["\>8XE@0``!,4```9`!@```````$```"D@9Y%``!C:S`P M,#$T,34X-#4M,C`Q,3`S,30N>'-D550%``,Y-)9-=7@+``$$)0X```0Y`0`` 64$L%!@`````&``8`2@(``(=*```````` ` end