REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
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☒
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Pre‑Effective Amendment No.
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☐
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Post‑Effective Amendment No. 467
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☒
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and
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REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
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☒
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Amendment No. 468
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☒
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☒
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immediately upon filing pursuant to paragraph (b)
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☐
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on pursuant to paragraph (b) |
☐
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60 days after filing pursuant to paragraph (a)(1)
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☐
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on pursuant
to paragraph (a)(1)
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☐
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75 days after filing pursuant to paragraph (a)(2)
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☐
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on pursuant to paragraph (a)(2) of Rule 485. |
ETF Series Solutions
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By: /s/ Michael D. Barolsky
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Michael D. Barolsky
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Vice President and Secretary
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Signature
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Title
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*/s/ David A. Massart
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Trustee
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David A. Massart
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*/s/ Janet D. Olsen
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Trustee
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Janet D. Olsen
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*/s/ Leonard M. Rush
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Trustee
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Leonard M. Rush
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*/s/ Michael A. Castino
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Trustee
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Michael A. Castino
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*/s/ Kristina R. Nelson
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President
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Kristina R. Nelson
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*/s/ Kristen M. Weitzel
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Treasurer
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Kristen M. Weitzel
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*By: /s/ Michael D. Barolsky
Michael D. Barolsky, Attorney-in-Fact
pursuant to Powers of Attorney
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Exhibit
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Exhibit No.
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Instance Document
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EX-101.INS
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Schema Document
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EX-101.SCH
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Calculation Linkbase Document
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EX-101.CAL
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Definition Linkbase Document
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EX-101.DEF
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Label Linkbase Document
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EX-101.LAB
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Presentation Linkbase Document
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EX-101.PRE
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Document and Entity Information |
Total |
---|---|
Prospectus: | |
Document Type | 485BPOS |
Document Period End Date | Oct. 31, 2018 |
Registrant Name | ETF Series Solutions |
Central Index Key | 0001540305 |
Amendment Flag | false |
Document Creation Date | Feb. 28, 2019 |
Document Effective Date | Feb. 28, 2019 |
Prospectus Date | Feb. 28, 2019 |
AAM S&P 500 High Dividend Value ETF | AAM S&P 500 High Dividend Value ETF | |
Prospectus: | |
Trading Symbol | SPDV |
AAM S&P Emerging Markets High Dividend Value ETF | AAM S&P Emerging Markets High Dividend Value ETF | |
Prospectus: | |
Trading Symbol | EEMD |
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AAM S&P 500 High Dividend Value ETF | ||||||||||||||||||||||||||||||
AAM S&P 500 High Dividend Value ETF | ||||||||||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||||||||||
The AAM S&P 500 High Dividend Value ETF (the “Fund”) seeks to track the total return performance, before fees and expenses, of the S&P 500 Dividend and Free Cash Flow Yield Index (the “Index”).
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Fees and Expenses of the Fund | ||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (“Shares”). This table and the Example below do not include the brokerage commissions that investors may pay on their purchases and sales of Shares.
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||||||||||
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Expense Example | ||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.
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Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||||
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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 rate may indicate higher transaction costs and may result in higher taxes when Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. For the fiscal period November 28, 2017 (commencement of operations) through October 31, 2018, the Fund’s portfolio turnover rate was 38% of the average value of its portfolio.
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Principal Investment Strategies | ||||||||||||||||||||||||||||||
The Fund uses a “passive management” (or indexing) approach to track the total return performance, before fees and expenses, of the Index. S&P 500 Dividend and Free Cash Flow Yield Index The Index is a rules-based, equal-weighted index that is designed to provide exposure to the constituents of the S&P 500® Index that exhibit both high dividend yield and sustainable dividend distribution characteristics, while maintaining diversified sector exposure. The Index was developed in 2017 by S&P Dow Jones Indices, a division of S&P Global. The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 80% of the U.S. equity market capitalization. Construction of the Index begins with the universe of equity securities that are included in the S&P 500 Index. For each equity security in the S&P 500 Index, the security’s dividend yield and free-cash-flow yield (i.e., a company’s cash flow from operations less capital expenditures divided by its market capitalization) are adjusted to account for outliers. If a security’s dividend yield or free-cash-flow yield is in the top or bottom 2.5% of the S&P 500 Index, the dividend yield or free-cash-flow yield, as applicable, for such security is replaced with the dividend yield or free-cash-flow yield of the security nearest to such top or bottom 2.5% threshold. The universe is then screened to keep only equity securities with a positive indicated annual dividend yield (i.e., yield based on a company’s most recent dividend amount) and free-cash-flow yield. The remaining securities are referred to as the “Selection Pool”. For each security in the Selection Pool, the security’s dividend yield and free-cash-flow yield are then scored using a statistical normalization model (i.e., a tool to compare how close each yield is to the average yield for the Selection Pool) to assign a dividend yield score and free-cash-flow yield score from zero to one for each company. The equity securities in the Selection Pool are then ranked by the product of their dividend yield score and free-cash-flow yield score, and the top five scoring securities are selected from each sector (collectively, the “Index Constituents”). The Index uses Standard & Poor’s Global Industry Classification Standards to define companies within one of the following sectors: consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, real estate, communication services, and utilities. Fewer than five securities may be selected if there are fewer than five securities in the Selection Pool for a given sector. The Index is reconstituted (i.e., Index Constituents are added or deleted and weights are reset to equal-weight) semi-annually after the close of the last business day in January and July. At the time of each reconstitution of the Index, Index Constituents are added or deleted based on company data as of the last business day of December and June, respectively, and the Index Constituents are equally-weighted based on closing prices as of five business days prior to the last business day of the reconstitution month. If an Index Constituent is removed from the S&P 500 Index, such security will simultaneously be removed from the Index. Additions to the Index Constituents only take place during the semi-annual reconstitutions. The Fund’s Investment Strategy The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Index. The Fund’s investment adviser expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better. The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund generally will invest in all of the component securities of the Index in approximately the same proportion as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Fund’s sub-adviser believes it is in the best interests of the Fund (e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index). The Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index, but which the Fund’s sub-adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions). To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.
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Principal Investment Risks | ||||||||||||||||||||||||||||||
The principal risks of investing in the Fund are summarized below. As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. The following risks could affect the value of your investment in the Fund:
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Performance | ||||||||||||||||||||||||||||||
The following performance information indicates some of the risks of investing in the Fund. The bar chart shows the Fund’s performance for the calendar year ended December 31, 2018. The table illustrates how the Fund’s average annual returns for the 1‑year and since inception periods compare with those of a broad measure of market performance and the Index. The Fund’s past performance, before and after taxes, does not necessarily indicate how it will perform in the future. Updated performance information is also available on the Fund’s website at www.aamlive.com.
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Calendar Year Total Return | ||||||||||||||||||||||||||||||
During the period of time shown in the bar chart, the Fund’s highest quarterly return was 3.97% for the quarter ended September 30, 2018 and the lowest quarterly return was -12.71% for the quarter ended December 31, 2018.
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Average Annual Total Returns For the Periods Ended December 31, 2018 | ||||||||||||||||||||||||||||||
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After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above 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. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as an individual retirement account (“IRA”) or other tax-advantaged accounts.
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Label | Element | Value | ||||||||||||||
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AAM S&P 500 High Dividend Value ETF | ||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | AAM S&P 500 High Dividend Value ETF | ||||||||||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | ||||||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The AAM S&P 500 High Dividend Value ETF (the “Fund”) seeks to track the total return performance, before fees and expenses, of the S&P 500 Dividend and Free Cash Flow Yield Index (the “Index”).
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Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Fund | ||||||||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (“Shares”). This table and the Example below do not include the brokerage commissions that investors may pay on their purchases and sales of Shares.
|
||||||||||||||
Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | ||||||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as 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 Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. For the fiscal period November 28, 2017 (commencement of operations) through October 31, 2018, the Fund’s portfolio turnover rate was 38% of the average value of its portfolio.
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Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 38.00% | ||||||||||||||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | This table and the Example below do not include the brokerage commissions that investors may pay on their purchases and sales of Shares. | ||||||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Expense Example | ||||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.
|
||||||||||||||
Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | ||||||||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund uses a “passive management” (or indexing) approach to track the total return performance, before fees and expenses, of the Index. S&P 500 Dividend and Free Cash Flow Yield Index The Index is a rules-based, equal-weighted index that is designed to provide exposure to the constituents of the S&P 500® Index that exhibit both high dividend yield and sustainable dividend distribution characteristics, while maintaining diversified sector exposure. The Index was developed in 2017 by S&P Dow Jones Indices, a division of S&P Global. The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 80% of the U.S. equity market capitalization. Construction of the Index begins with the universe of equity securities that are included in the S&P 500 Index. For each equity security in the S&P 500 Index, the security’s dividend yield and free-cash-flow yield (i.e., a company’s cash flow from operations less capital expenditures divided by its market capitalization) are adjusted to account for outliers. If a security’s dividend yield or free-cash-flow yield is in the top or bottom 2.5% of the S&P 500 Index, the dividend yield or free-cash-flow yield, as applicable, for such security is replaced with the dividend yield or free-cash-flow yield of the security nearest to such top or bottom 2.5% threshold. The universe is then screened to keep only equity securities with a positive indicated annual dividend yield (i.e., yield based on a company’s most recent dividend amount) and free-cash-flow yield. The remaining securities are referred to as the “Selection Pool”. For each security in the Selection Pool, the security’s dividend yield and free-cash-flow yield are then scored using a statistical normalization model (i.e., a tool to compare how close each yield is to the average yield for the Selection Pool) to assign a dividend yield score and free-cash-flow yield score from zero to one for each company. The equity securities in the Selection Pool are then ranked by the product of their dividend yield score and free-cash-flow yield score, and the top five scoring securities are selected from each sector (collectively, the “Index Constituents”). The Index uses Standard & Poor’s Global Industry Classification Standards to define companies within one of the following sectors: consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, real estate, communication services, and utilities. Fewer than five securities may be selected if there are fewer than five securities in the Selection Pool for a given sector. The Index is reconstituted (i.e., Index Constituents are added or deleted and weights are reset to equal-weight) semi-annually after the close of the last business day in January and July. At the time of each reconstitution of the Index, Index Constituents are added or deleted based on company data as of the last business day of December and June, respectively, and the Index Constituents are equally-weighted based on closing prices as of five business days prior to the last business day of the reconstitution month. If an Index Constituent is removed from the S&P 500 Index, such security will simultaneously be removed from the Index. Additions to the Index Constituents only take place during the semi-annual reconstitutions. The Fund’s Investment Strategy The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Index. The Fund’s investment adviser expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better. The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund generally will invest in all of the component securities of the Index in approximately the same proportion as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Fund’s sub-adviser believes it is in the best interests of the Fund (e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index). The Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index, but which the Fund’s sub-adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions). To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.
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Risk [Heading] | rr_RiskHeading | Principal Investment Risks | ||||||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The principal risks of investing in the Fund are summarized below. As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. The following risks could affect the value of your investment in the Fund:
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Risk Lose Money [Text] | rr_RiskLoseMoney | As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. | ||||||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | ||||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The following performance information indicates some of the risks of investing in the Fund. The bar chart shows the Fund’s performance for the calendar year ended December 31, 2018. The table illustrates how the Fund’s average annual returns for the 1‑year and since inception periods compare with those of a broad measure of market performance and the Index. The Fund’s past performance, before and after taxes, does not necessarily indicate how it will perform in the future. Updated performance information is also available on the Fund’s website at www.aamlive.com.
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Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The following performance information indicates some of the risks of investing in the Fund. | ||||||||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.aamlive.com | ||||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Fund’s past performance, before and after taxes, does not necessarily indicate how it will perform in the future. | ||||||||||||||
Bar Chart [Heading] | rr_BarChartHeading | Calendar Year Total Return | ||||||||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | During the period of time shown in the bar chart, the Fund’s highest quarterly return was 3.97% for the quarter ended September 30, 2018 and the lowest quarterly return was -12.71% for the quarter ended December 31, 2018.
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Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | highest quarterly return | ||||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Sep. 30, 2018 | ||||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 3.97% | ||||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | lowest quarterly return | ||||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2018 | ||||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (12.71%) | ||||||||||||||
Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes | (reflects no deduction for fees, expenses, or taxes) | ||||||||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state and local taxes. | ||||||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as an individual retirement account (“IRA”) or other tax-advantaged accounts. | ||||||||||||||
Performance Table Explanation after Tax Higher | rr_PerformanceTableExplanationAfterTaxHigher | In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. | ||||||||||||||
Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above 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. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as an individual retirement account (“IRA”) or other tax-advantaged accounts.
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Caption | rr_AverageAnnualReturnCaption | Average Annual Total Returns For the Periods Ended December 31, 2018 | ||||||||||||||
AAM S&P 500 High Dividend Value ETF | S&P 500 Dividend and Free Cash Flow Yield Index (reflects no deduction for fees, expenses, or taxes) | ||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||
Label | rr_AverageAnnualReturnLabel | S&P 500 Dividend and Free Cash Flow Yield Index (reflects no deduction for fees, expenses, or taxes) | ||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (5.85%) | ||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (1.50%) | ||||||||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Nov. 28, 2017 | ||||||||||||||
AAM S&P 500 High Dividend Value ETF | S&P 500® Index (reflects no deduction for fees, expenses, or taxes) | ||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||
Label | rr_AverageAnnualReturnLabel | S&P 500® Index (reflects no deduction for fees, expenses, or taxes) | ||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (4.38%) | ||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (2.31%) | ||||||||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Nov. 28, 2017 | ||||||||||||||
AAM S&P 500 High Dividend Value ETF | AAM S&P 500 High Dividend Value ETF | ||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.29% | ||||||||||||||
Distribution and Service (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||||||||||||||
Other Expenses | rr_OtherExpensesOverAssets | none | ||||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.29% | ||||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 30 | ||||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 93 | ||||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 163 | ||||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 368 | ||||||||||||||
Annual Return 2018 | rr_AnnualReturn2018 | (6.13%) | ||||||||||||||
Label | rr_AverageAnnualReturnLabel | Return Before Taxes | ||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (6.13%) | ||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (1.78%) | ||||||||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Nov. 28, 2017 | ||||||||||||||
AAM S&P 500 High Dividend Value ETF | AAM S&P 500 High Dividend Value ETF | After Taxes on Distributions | ||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||
Label | rr_AverageAnnualReturnLabel | Return After Taxes on Distributions | ||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (6.92%) | ||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (2.60%) | ||||||||||||||
AAM S&P 500 High Dividend Value ETF | AAM S&P 500 High Dividend Value ETF | After Taxes on Distributions and Sale of Fund Shares | ||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | |||||||||||||||
Label | rr_AverageAnnualReturnLabel | Return After Taxes on Distributions and Sale of Fund Shares | ||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (3.08%) | ||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (1.33%) |
AAM S&P Emerging Markets High Dividend Value ETF | ||||||||||||||||||||||||||||||||||||||||
AAM S&P Emerging Markets High Dividend Value ETF | ||||||||||||||||||||||||||||||||||||||||
Investment Objective | ||||||||||||||||||||||||||||||||||||||||
The AAM S&P Emerging Markets High Dividend Value ETF (the “Fund”) seeks to track the total return performance, before fees and expenses, of the S&P Emerging Markets Dividend and Free Cash Flow Yield Index (the “Index”).
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Fees and Expenses of the Fund | ||||||||||||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (“Shares”). This table and the Example below do not include the brokerage commissions that investors may pay on their purchases and sales of Shares.
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | ||||||||||||||||||||||||||||||||||||||||
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Expense Example | ||||||||||||||||||||||||||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.
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Although your actual costs may be higher or lower, based on these assumptions your costs would be: | ||||||||||||||||||||||||||||||||||||||||
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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 rate may indicate higher transaction costs and may result in higher taxes when Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. For the fiscal period November 28, 2017 (commencement of operations) through October 31, 2018, the Fund’s portfolio turnover rate was 104% of the average value of its portfolio.
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Principal Investment Strategies | ||||||||||||||||||||||||||||||||||||||||
The Fund uses a “passive management” (or indexing) approach to track the total return performance, before fees and expenses, of the Index. S&P Emerging Markets Dividend and Free Cash Flow Yield Index The Index is a rules-based, equal-weighted index that is designed to provide exposure to the constituents of the S&P Emerging Plus LargeMidCap Index that exhibit both high dividend yield and sustainable dividend distribution characteristics, while maintaining diversified sector exposure. The Index was developed in 2017 by S&P Dow Jones Indices, a division of S&P Global. The S&P Emerging Plus LargeMidCap Index is designed to measure the performance of large- and mid-capitalization securities in emerging markets. The S&P Emerging Plus LargeMidCap Index includes equity securities that are listed in Brazil, Chile, China, Colombia, the Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Malaysia, Mexico, Pakistan, Peru, the Philippines, Poland, Qatar, Russia, South Africa, South Korea, Taiwan, Thailand, Turkey, and the United Arab Emirates (collectively, the “Emerging Markets”). Construction of the Index begins with the universe of equity securities that are included in the S&P Emerging Plus LargeMidCap Index, have a minimum float-adjusted market capitalization of US$300 million, and have a median daily traded value of at least US$1 million. For each equity security in the S&P Emerging Plus LargeMidCap Index, the security’s dividend yield and free-cash-flow yield (i.e., a company’s cash flow from operations less capital expenditures divided by its market capitalization) are then adjusted to account for outliers. If a security’s dividend yield or free-cash-flow yield is in the top or bottom 2.5% of the S&P Emerging Plus LargeMidCap Index, the dividend yield or free-cash-flow yield, as applicable, for such security is replaced with the dividend yield or free-cash-flow yield of the security nearest to such top or bottom 2.5% threshold. The universe is then screened to keep only equity securities with a positive realized dividend yield (i.e., yield based on the total dividends paid for the most recent 12-month period) and free-cash-flow yield. The remaining securities are referred to as the “Selection Pool”. For each security in the Selection Pool, the security’s dividend yield or free-cash-flow yield are then scored using a statistical normalization model (i.e., a tool to compare how close each yield is to the average yield for the Selection Pool) to assign a dividend yield score and free-cash-flow yield score from zero to one for each company. The equity securities in the Selection Pool are then ranked by the product of their dividend yield score and free-cash-flow yield score, and the top five scoring securities are selected from each sector (collectively, the “Index Constituents”). The Index uses Standard & Poor’s Global Industry Classification Standards to define companies within one of the following sectors: consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, real estate, communication services, and utilities. Fewer than five securities may be selected if there are fewer than five securities in the Selection Pool for a given sector. The Index is reconstituted (i.e., Index Constituents are added or deleted and weights are reset to equal-weight) semi-annually after the close of the last business day in January and July. At the time of each reconstitution of the Index, Index Constituents are added or deleted based on company data as of the last business day of December and June, respectively, and the Index Constituents are equally-weighted based on closing prices as of five business days prior to the last business day of the reconstitution month. If an Index Constituent is removed from the S&P Emerging Plus LargeMidCap Index, such security will simultaneously be removed from the Index. Additions to the Index Constituents only take place during the semi-annual reconstitutions. If multiple share classes of a single company qualify for inclusion in the Index, only the share class with the highest liquidity, measured by median daily value traded, is selected. As of December 31, 2018, the Index included significant exposure to companies in China, Taiwan, Brazil, and Russia. The Fund’s Investment Strategy The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Index and depositary receipts representing Index components. The Fund’s investment adviser expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better. The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund generally will invest in all of the component securities of the Index in approximately the same proportion as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Fund’s sub-adviser believes it is in the best interests of the Fund (e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index). The Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index, but which the Fund’s sub-adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions). To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.
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Principal Investment Risks | ||||||||||||||||||||||||||||||||||||||||
The principal risks of investing in the Fund are summarized below. As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. The following risks could affect the value of your investment in the Fund:
Securities markets in Russia are subject to greater risks associated with market volatility, lower market capitalization, lower trading volume, inflation, greater price fluctuations, uncertainty regarding the existence of trading markets, governmental control and heavy regulation of labor and industry. The government in Russia may restrict or control to varying degrees the ability of foreign investors to invest in securities of issuers located or operating in Russia. These restrictions and/or controls may at times limit or prevent foreign investment in securities of issuers located or operating in Russia. Moreover, governmental approval or special licenses may be required prior to investments by foreign investors and may limit the amount of investments by foreign investors in a particular industry and/or issuer and may limit such foreign investment to a certain class of securities of an issuer that may have less advantageous rights than the classes available for purchase by domiciliaries of Russia and/or impose additional taxes on foreign investors. Despite recent reform and privatization, the Russian government continues to control a large share of economic activity in the region. The Russian government owns shares in corporations in a range of sectors. Additionally, because Russia produces and exports large volumes of oil and gas, the Russian economy is particularly sensitive to the price of oil and gas on the world market, and a decline in the price of oil and gas could have a significant negative impact on the Russian economy. Current political and economic events in Russia and the effects of the recent global economic crisis on the Russian economy may have significant adverse effects on the Russian ruble and on the value and liquidity of the Fund’s investments.
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Performance | ||||||||||||||||||||||||||||||||||||||||
The following performance information indicates some of the risks of investing in the Fund. The bar chart shows the Fund’s performance for the calendar year ended December 31, 2018. The table illustrates how the Fund’s average annual returns for the 1‑year and since inception periods compare with those of a broad measure of market performance and the Index. The Fund’s past performance, before and after taxes, does not necessarily indicate how it will perform in the future. Updated performance information is also available on the Fund’s website at www.aamlive.com.
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Calendar Year Total Return | ||||||||||||||||||||||||||||||||||||||||
During the period of time shown in the bar chart, the Fund’s highest quarterly return was 0.81% for the quarter ended March 31, 2018 and the lowest quarterly return was -9.27% for the quarter ended June 30, 2018.
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Average Annual Total Returns For the Periods Ended December 31, 2018 | ||||||||||||||||||||||||||||||||||||||||
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After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above 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. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as an individual retirement account (“IRA”) or other tax-advantaged accounts.
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Label | Element | Value | |||||||||||||||||||||||||||||||||||||||||
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AAM S&P Emerging Markets High Dividend Value ETF | |||||||||||||||||||||||||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||||||||||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | AAM S&P Emerging Markets High Dividend Value ETF | |||||||||||||||||||||||||||||||||||||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | |||||||||||||||||||||||||||||||||||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The AAM S&P Emerging Markets High Dividend Value ETF (the “Fund”) seeks to track the total return performance, before fees and expenses, of the S&P Emerging Markets Dividend and Free Cash Flow Yield Index (the “Index”).
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Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Fund | |||||||||||||||||||||||||||||||||||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (“Shares”). This table and the Example below do not include the brokerage commissions that investors may pay on their purchases and sales of Shares.
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Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||||||||||||||||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover | |||||||||||||||||||||||||||||||||||||||||
Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as 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 Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. For the fiscal period November 28, 2017 (commencement of operations) through October 31, 2018, the Fund’s portfolio turnover rate was 104% of the average value of its portfolio.
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Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 104.00% | |||||||||||||||||||||||||||||||||||||||||
Expense Exchange Traded Fund Commissions [Text] | rr_ExpenseExchangeTradedFundCommissions | This table and the Example below do not include the brokerage commissions that investors may pay on their purchases and sales of Shares. | |||||||||||||||||||||||||||||||||||||||||
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] | rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees | Total Annual Fund Operating Expenses do not reflect Fund expenses paid indirectly and do not correlate to the expense ratios in the Fund’s Financial Highlights because the Financial Highlights include only the direct operating expenses incurred by the Fund and exclude Acquired Fund Fees and Expenses. | |||||||||||||||||||||||||||||||||||||||||
Expense Example [Heading] | rr_ExpenseExampleHeading | Expense Example | |||||||||||||||||||||||||||||||||||||||||
Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.
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Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | Although your actual costs may be higher or lower, based on these assumptions your costs would be: | |||||||||||||||||||||||||||||||||||||||||
Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies | |||||||||||||||||||||||||||||||||||||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Fund uses a “passive management” (or indexing) approach to track the total return performance, before fees and expenses, of the Index. S&P Emerging Markets Dividend and Free Cash Flow Yield Index The Index is a rules-based, equal-weighted index that is designed to provide exposure to the constituents of the S&P Emerging Plus LargeMidCap Index that exhibit both high dividend yield and sustainable dividend distribution characteristics, while maintaining diversified sector exposure. The Index was developed in 2017 by S&P Dow Jones Indices, a division of S&P Global. The S&P Emerging Plus LargeMidCap Index is designed to measure the performance of large- and mid-capitalization securities in emerging markets. The S&P Emerging Plus LargeMidCap Index includes equity securities that are listed in Brazil, Chile, China, Colombia, the Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Malaysia, Mexico, Pakistan, Peru, the Philippines, Poland, Qatar, Russia, South Africa, South Korea, Taiwan, Thailand, Turkey, and the United Arab Emirates (collectively, the “Emerging Markets”). Construction of the Index begins with the universe of equity securities that are included in the S&P Emerging Plus LargeMidCap Index, have a minimum float-adjusted market capitalization of US$300 million, and have a median daily traded value of at least US$1 million. For each equity security in the S&P Emerging Plus LargeMidCap Index, the security’s dividend yield and free-cash-flow yield (i.e., a company’s cash flow from operations less capital expenditures divided by its market capitalization) are then adjusted to account for outliers. If a security’s dividend yield or free-cash-flow yield is in the top or bottom 2.5% of the S&P Emerging Plus LargeMidCap Index, the dividend yield or free-cash-flow yield, as applicable, for such security is replaced with the dividend yield or free-cash-flow yield of the security nearest to such top or bottom 2.5% threshold. The universe is then screened to keep only equity securities with a positive realized dividend yield (i.e., yield based on the total dividends paid for the most recent 12-month period) and free-cash-flow yield. The remaining securities are referred to as the “Selection Pool”. For each security in the Selection Pool, the security’s dividend yield or free-cash-flow yield are then scored using a statistical normalization model (i.e., a tool to compare how close each yield is to the average yield for the Selection Pool) to assign a dividend yield score and free-cash-flow yield score from zero to one for each company. The equity securities in the Selection Pool are then ranked by the product of their dividend yield score and free-cash-flow yield score, and the top five scoring securities are selected from each sector (collectively, the “Index Constituents”). The Index uses Standard & Poor’s Global Industry Classification Standards to define companies within one of the following sectors: consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, real estate, communication services, and utilities. Fewer than five securities may be selected if there are fewer than five securities in the Selection Pool for a given sector. The Index is reconstituted (i.e., Index Constituents are added or deleted and weights are reset to equal-weight) semi-annually after the close of the last business day in January and July. At the time of each reconstitution of the Index, Index Constituents are added or deleted based on company data as of the last business day of December and June, respectively, and the Index Constituents are equally-weighted based on closing prices as of five business days prior to the last business day of the reconstitution month. If an Index Constituent is removed from the S&P Emerging Plus LargeMidCap Index, such security will simultaneously be removed from the Index. Additions to the Index Constituents only take place during the semi-annual reconstitutions. If multiple share classes of a single company qualify for inclusion in the Index, only the share class with the highest liquidity, measured by median daily value traded, is selected. As of December 31, 2018, the Index included significant exposure to companies in China, Taiwan, Brazil, and Russia. The Fund’s Investment Strategy The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Index and depositary receipts representing Index components. The Fund’s investment adviser expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better. The Fund will generally use a “replication” strategy to achieve its investment objective, meaning the Fund generally will invest in all of the component securities of the Index in approximately the same proportion as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Fund’s sub-adviser believes it is in the best interests of the Fund (e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index). The Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index, but which the Fund’s sub-adviser believes will help the Fund track the Index. For example, the Fund may invest in securities that are not components of the Index to reflect various corporate actions and other changes to the Index (such as reconstitutions, additions, and deletions). To the extent the Index concentrates (i.e., holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.
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Risk [Heading] | rr_RiskHeading | Principal Investment Risks | |||||||||||||||||||||||||||||||||||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | The principal risks of investing in the Fund are summarized below. As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. The following risks could affect the value of your investment in the Fund:
Securities markets in Russia are subject to greater risks associated with market volatility, lower market capitalization, lower trading volume, inflation, greater price fluctuations, uncertainty regarding the existence of trading markets, governmental control and heavy regulation of labor and industry. The government in Russia may restrict or control to varying degrees the ability of foreign investors to invest in securities of issuers located or operating in Russia. These restrictions and/or controls may at times limit or prevent foreign investment in securities of issuers located or operating in Russia. Moreover, governmental approval or special licenses may be required prior to investments by foreign investors and may limit the amount of investments by foreign investors in a particular industry and/or issuer and may limit such foreign investment to a certain class of securities of an issuer that may have less advantageous rights than the classes available for purchase by domiciliaries of Russia and/or impose additional taxes on foreign investors. Despite recent reform and privatization, the Russian government continues to control a large share of economic activity in the region. The Russian government owns shares in corporations in a range of sectors. Additionally, because Russia produces and exports large volumes of oil and gas, the Russian economy is particularly sensitive to the price of oil and gas on the world market, and a decline in the price of oil and gas could have a significant negative impact on the Russian economy. Current political and economic events in Russia and the effects of the recent global economic crisis on the Russian economy may have significant adverse effects on the Russian ruble and on the value and liquidity of the Fund’s investments.
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Risk Lose Money [Text] | rr_RiskLoseMoney | As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. | |||||||||||||||||||||||||||||||||||||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance | |||||||||||||||||||||||||||||||||||||||||
Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | The following performance information indicates some of the risks of investing in the Fund. The bar chart shows the Fund’s performance for the calendar year ended December 31, 2018. The table illustrates how the Fund’s average annual returns for the 1‑year and since inception periods compare with those of a broad measure of market performance and the Index. The Fund’s past performance, before and after taxes, does not necessarily indicate how it will perform in the future. Updated performance information is also available on the Fund’s website at www.aamlive.com.
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Performance Information Illustrates Variability of Returns [Text] | rr_PerformanceInformationIllustratesVariabilityOfReturns | The following performance information indicates some of the risks of investing in the Fund. | |||||||||||||||||||||||||||||||||||||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.aamlive.com | |||||||||||||||||||||||||||||||||||||||||
Performance Past Does Not Indicate Future [Text] | rr_PerformancePastDoesNotIndicateFuture | The Fund’s past performance, before and after taxes, does not necessarily indicate how it will perform in the future. | |||||||||||||||||||||||||||||||||||||||||
Bar Chart [Heading] | rr_BarChartHeading | Calendar Year Total Return | |||||||||||||||||||||||||||||||||||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock | During the period of time shown in the bar chart, the Fund’s highest quarterly return was 0.81% for the quarter ended March 31, 2018 and the lowest quarterly return was -9.27% for the quarter ended June 30, 2018.
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Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | highest quarterly return | |||||||||||||||||||||||||||||||||||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Mar. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 0.81% | |||||||||||||||||||||||||||||||||||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | lowest quarterly return | |||||||||||||||||||||||||||||||||||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Jun. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (9.27%) | |||||||||||||||||||||||||||||||||||||||||
Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes | (reflects no deduction for fees, expenses, or taxes) | |||||||||||||||||||||||||||||||||||||||||
Performance Table Uses Highest Federal Rate | rr_PerformanceTableUsesHighestFederalRate | After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state and local taxes. | |||||||||||||||||||||||||||||||||||||||||
Performance Table Not Relevant to Tax Deferred | rr_PerformanceTableNotRelevantToTaxDeferred | After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as an individual retirement account (“IRA”) or other tax-advantaged accounts. | |||||||||||||||||||||||||||||||||||||||||
Performance Table Explanation after Tax Higher | rr_PerformanceTableExplanationAfterTaxHigher | In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. | |||||||||||||||||||||||||||||||||||||||||
Performance Table Closing [Text Block] | rr_PerformanceTableClosingTextBlock | After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above 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. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements such as an individual retirement account (“IRA”) or other tax-advantaged accounts.
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Caption | rr_AverageAnnualReturnCaption | Average Annual Total Returns For the Periods Ended December 31, 2018 | |||||||||||||||||||||||||||||||||||||||||
AAM S&P Emerging Markets High Dividend Value ETF | S&P Emerging Markets Dividend and Free Cash Flow Yield Index (reflects no deduction for fees, expenses, or taxes) | |||||||||||||||||||||||||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||||||||||||||||||
Label | rr_AverageAnnualReturnLabel | S&P Emerging Markets Dividend and Free Cash Flow Yield Index (reflects no deduction for fees, expenses, or taxes) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (13.26%) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (8.58%) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Nov. 28, 2017 | |||||||||||||||||||||||||||||||||||||||||
AAM S&P Emerging Markets High Dividend Value ETF | S&P Emerging Plus LargeMidCap® Index (reflects no deduction for fees, expenses, or taxes) | |||||||||||||||||||||||||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||||||||||||||||||
Label | rr_AverageAnnualReturnLabel | S&P Emerging Plus LargeMidCap® Index (reflects no deduction for fees, expenses, or taxes) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (13.85%) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (11.76%) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Nov. 28, 2017 | |||||||||||||||||||||||||||||||||||||||||
AAM S&P Emerging Markets High Dividend Value ETF | AAM S&P Emerging Markets High Dividend Value ETF | |||||||||||||||||||||||||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||||||||||||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.49% | |||||||||||||||||||||||||||||||||||||||||
Distribution and Service (Rule 12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | |||||||||||||||||||||||||||||||||||||||||
Other Expenses | rr_OtherExpensesOverAssets | none | |||||||||||||||||||||||||||||||||||||||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.01% | [1] | ||||||||||||||||||||||||||||||||||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.50% | |||||||||||||||||||||||||||||||||||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 51 | |||||||||||||||||||||||||||||||||||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 160 | |||||||||||||||||||||||||||||||||||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 280 | |||||||||||||||||||||||||||||||||||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 628 | |||||||||||||||||||||||||||||||||||||||||
Annual Return 2018 | rr_AnnualReturn2018 | (14.42%) | |||||||||||||||||||||||||||||||||||||||||
Label | rr_AverageAnnualReturnLabel | Return Before Taxes | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (14.42%) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (9.61%) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Nov. 28, 2017 | |||||||||||||||||||||||||||||||||||||||||
AAM S&P Emerging Markets High Dividend Value ETF | AAM S&P Emerging Markets High Dividend Value ETF | After Taxes on Distributions | |||||||||||||||||||||||||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||||||||||||||||||
Label | rr_AverageAnnualReturnLabel | Return After Taxes on Distributions | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (15.13%) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (10.33%) | |||||||||||||||||||||||||||||||||||||||||
AAM S&P Emerging Markets High Dividend Value ETF | AAM S&P Emerging Markets High Dividend Value ETF | After Taxes on Distributions and Sale of Fund Shares | |||||||||||||||||||||||||||||||||||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||||||||||||||||||||||||||||||||||
Label | rr_AverageAnnualReturnLabel | Return After Taxes on Distributions and Sale of Fund Shares | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | (7.60%) | |||||||||||||||||||||||||||||||||||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | (6.96%) | |||||||||||||||||||||||||||||||||||||||||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Prospectus Date | rr_ProspectusDate | Feb. 28, 2019 |
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