XML 52 R6.htm IDEA: XBRL DOCUMENT v3.24.2
Performance Management
Mar. 31, 2024
MATISSE DISCOUNTED CLOSED-END FUND STRATEGY | Matisse Discounted Closed-End Fund Strategy  
Prospectus [Line Items]  
Bar Chart and Performance Table [Heading] PERFORMANCE INFORMATION
Performance Narrative [Text Block]
The following bar chart and tables provide an indication of the risks of investing in the Fund by showing changes in the performance from year to year and by showing how the Fund’s average annual total returns compare to that of a broad-based securities market index. The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at https://fundinfopages.com/MDCEX.
Performance Past Does Not Indicate Future [Text] The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future.
Performance Information Illustrates Variability of Returns [Text] The following bar chart and tables provide an indication of the risks of investing in the Fund by showing changes in the performance from year to year and by showing how the Fund’s average annual total returns compare to that of a broad-based securities market index.
Bar Chart [Heading] Institutional Class Shares Calendar Year Returns
Bar Chart [Table]
Bar Chart Closing [Text Block]
During the periods shown in the bar chart above, the Fund’s highest quarterly return was 19.86% (quarter ended June 30, 2020) and the Fund’s lowest quarterly return was -37.13% (quarter ended March 31, 2020). The Fund’s year-to-date return as of June 30, 2024, was 8.38%.
Year to Date Return, Label [Optional Text] year-to-date return
Bar Chart, Year to Date Return 8.38%
Bar Chart, Year to Date Return, Date Jun. 30, 2024
Highest Quarterly Return, Label [Optional Text] highest quarterly return
Highest Quarterly Return 19.86%
Highest Quarterly Return, Date Jun. 30, 2020
Lowest Quarterly Return, Label [Optional Text] lowest quarterly return
Lowest Quarterly Return (37.13%)
Lowest Quarterly Return, Date Mar. 31, 2020
Performance Table Market Index Changed In prior prospectuses, the Fund compared its performance against the S&P 500 Total Return Index. The Advisor believes the Morningstar Global Allocation Index is a more appropriate and accurate index against which to compare the Fund’s investment strategies as it aligns more closely with the Fund’s portfolio than the S&P 500 Total Return Index.
Performance Table Uses Highest Federal Rate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown and are not applicable to investors who hold Shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA).
Performance [Table]
Average Annual Total Returns
 
 
Periods Ended December 31, 2023
(returns with maximum sales charge)
 
 
Past 1
Year
 
 
Past 5
Years
 
 
Past 10
Years
 
 
Since
Inception1
 
 
Institutional Class Shares
        
  Before taxes
 
 
23.88%
 
 
10.92%
 
 
8.07%
 
 
7.81%
 
 
  After taxes on distributions
 
 
19.69%
 
 
5.75%
 
 
4.22%
 
 
3.88%
 
 
  After taxes on distributions and sale of Shares
 
 
13.90%
 
 
6.90%
 
 
4.98%
 
 
3.88%
 
 
Morningstar Global Allocation Index2
 
 
15.46%
 
 
7.08%
 
 
5.40%
 
 
6.24%
 
 
S&P 500 Total Return Index2
 
 
26.29%
 
 
15.68%
 
 
12.03%
 
 
13.67%
 
 
S-Network Composite Closed-End Fund Total Return Index
 
9.61%
 
 
6.15%
 
 
5.41%
 
 
5.30%
 
 
First Trust Composite Closed-End Fund Index
 
 
9.94%
 
 
5.66%
 
 
4.64%
 
 
4.39%
 
1.The Institutional Class Shares commenced operations on October 31, 2012.
2. In prior prospectuses, the Fund compared its performance against the S&P 500 Total Return Index. The Advisor believes the Morningstar Global Allocation Index is a more appropriate and accurate index against which to compare the Fund’s investment strategies as it aligns more closely with the Fund’s portfolio than the S&P 500 Total Return Index.
Average Annual Return, Caption [Optional Text] Periods Ended December 31, 2023 (returns with maximum sales charge)
Performance Table Closing [Text Block]
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.  Actual after-tax returns depend on an investor’s tax situation and may differ from those shown and are not applicable to investors who hold Shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA).
Performance Availability Website Address [Text] https://fundinfopages.com/MDCEX
MATISSE DISCOUNTED BOND CEF STRATEGY | Matisse Discounted Bond CEF Strategy  
Prospectus [Line Items]  
Bar Chart and Performance Table [Heading] PERFORMANCE INFORMATION
Performance Narrative [Text Block]
The following bar chart and tables provide an indication of the risks of investing in the Fund by showing changes in the performance from year to year and by showing how the Fund’s average annual total returns compare to that of a broad-based securities market index. The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available online at https://fundinfopages.com/MDFIX.
Performance Past Does Not Indicate Future [Text] The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future.
Performance Information Illustrates Variability of Returns [Text] The following bar chart and tables provide an indication of the risks of investing in the Fund by showing changes in the performance from year to year and by showing how the Fund’s average annual total returns compare to that of a broad-based securities market index.
Bar Chart [Heading] Institutional Class Shares Calendar Year Returns
Bar Chart [Table]
Bar Chart Closing [Text Block]
During the periods shown in the bar chart above, the Fund’s highest quarterly return was 11.41% (quarter ended December 31, 2020) and the Fund’s lowest quarterly return was
-9.90% (quarter ended June 30, 2022). The Fund’s year-to-date return as of June 30, 2024, was 7.22%.
Year to Date Return, Label [Optional Text] year-to-date return
Bar Chart, Year to Date Return 7.22%
Bar Chart, Year to Date Return, Date Jun. 30, 2024
Highest Quarterly Return, Label [Optional Text] highest quarterly return
Highest Quarterly Return 11.41%
Highest Quarterly Return, Date Dec. 31, 2020
Lowest Quarterly Return, Label [Optional Text] lowest quarterly return
Lowest Quarterly Return (9.90%)
Lowest Quarterly Return, Date Jun. 30, 2022
Performance Table Heading Average Annual Total Returns
Performance Table Uses Highest Federal Rate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown and are not applicable to investors who hold Shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA).
Performance [Table]
 
Periods Ended December 31, 2023
(returns with maximum sales charge)
 
 
Past 1
Year
 
 
Since
Inception*
 
 
Institutional Class Shares
    
  Before taxes
 
 
13.63%
 
 
8.02%
 
 
  After taxes on distributions
 
 
10.27%
 
 
5.41%
 
 
  After taxes on distributions and sale of Shares
 
 
7.93%
 
 
5.41%
 
 
Bloomberg U.S. Aggregate Total Return Index
 
 
5.53%
 
 
-2.08%
 
 
Bloomberg VLI High Yield Index
 
 
13.76%
 
 
5.42%
 
 
FT Taxable Fixed Income CEF Index
 
 
14.26%
 
 
6.90%
 
*The Institutional Class Shares commenced operations on April 30, 2020.
Average Annual Return, Caption [Optional Text] Periods Ended December 31, 2023 (returns with maximum sales charge)
Performance Table One Class of after Tax Shown [Text] After-tax returns are shown for only one class of Shares and after-tax returns will vary for other classes.
Performance Table Closing [Text Block]
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.  Actual after-tax returns depend on an investor’s tax situation and may differ from those shown and are not applicable to investors who hold Shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA). After-tax returns are shown for only one class of Shares and after-tax returns will vary for other classes.
Performance Availability Website Address [Text] https://fundinfopages.com/MDFIX