REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
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Pre-Effective Amendment No.
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Post-Effective Amendment No.
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746
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REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
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Post-Effective Amendment No.
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747
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Elaine E. Richards, Esq.
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Professionally Managed Portfolios
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2020 E. Financial Way, Ste. 100
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Glendora, CA 91741
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Domenick Pugliese, Esq.
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Schiff Hardin LLP
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666 Fifth Avenue, Suite 1700
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New York, NY 10103
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immediately upon filing pursuant to paragraph (b)
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On (date) pursuant to paragraph (b)
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60 days after filing pursuant to paragraph (a)(1)
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on (date) pursuant to paragraph (a)(1)
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75 days after filing pursuant to paragraph (a)(2)
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on (date) pursuant to paragraph (a)(2) of Rule 485.
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This post-effective amendment designates a new effective date for a previously filed post- effective amendment.
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Signature
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Title
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Date
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Dorothy A. Berry*
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Trustee
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August 8, 2018
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Dorothy A. Berry
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Wallace L. Cook*
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Trustee
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August 8, 2018
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Wallace L. Cook
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Eric W. Falkeis*
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Trustee
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August 8, 2018
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Eric W. Falkeis
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Carl A. Froebel*
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Trustee
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August 8, 2018
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Carl A. Froebel
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Steven J. Paggioli*
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August 8, 2018
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Steven J. Paggioli
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/s/ Elaine E. Richards
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President and Principal
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August 8, 2018
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Elaine E. Richards
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Executive Officer
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Aaron J. Perkovich*
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Vice President, Treasurer
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August 8, 2018
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Aaron J. Perkovich
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and Principal Financial
and Accounting Officer
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*By: /s/ Elaine E. Richards
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August 8, 2018
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Elaine E. Richards, Attorney-In Fact
pursuant to Power 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 | Mar. 31, 2018 |
Registrant Name | PROFESSIONALLY MANAGED PORTFOLIOS |
Central Index Key | 0000811030 |
Amendment Flag | false |
Document Creation Date | Jul. 25, 2018 |
Document Effective Date | Jul. 29, 2018 |
Prospectus Date | Jul. 29, 2018 |
Hodges Fund | Retail Class | |
Prospectus: | |
Trading Symbol | HDPMX |
Hodges Fund | Institutional Class | |
Prospectus: | |
Trading Symbol | HDPIX |
Hodges Small Cap Fund | Retail Class | |
Prospectus: | |
Trading Symbol | HDPSX |
Hodges Small Cap Fund | Institutional Class | |
Prospectus: | |
Trading Symbol | HDSIX |
Hodges Small Intrinsic Value Fund | Retail Class | |
Prospectus: | |
Trading Symbol | HDSVX |
Hodges Small-Mid Cap Fund | Retail Class | |
Prospectus: | |
Trading Symbol | HDSMX |
Hodges Pure Contrarian Fund | Retail Class | |
Prospectus: | |
Trading Symbol | HDPCX |
Hodges Blue Chip Equity Income Fund | Retail Class | |
Prospectus: | |
Trading Symbol | HDPBX |
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Hodges Fund
Hodges Fund
Investment Objective
Fees and Expenses of the Fund
Shareholder Fees (fees paid directly from your investment)
Redemption/Exchange Fee (as a percentage of amount redeemed/exchanged within 30 days of purchase (Retail Class) and within 60 days of purchase (Institutional Class))
1.00%
1.00%
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees
0.85%
0.85%
Distribution and Service (Rule 12b-1) Fees
0.25%
none
Other Expenses
0.23%
0.23%
Total Annual Fund Operating Expenses
1.33%
1.08%
Fee Waiver and/or Expense Reimbursement/Recoupment
(0.15%)
(0.15%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment
[1]
1.18%
0.93%
[1]
Hodges Capital Management, Inc. (the "Advisor") has contractually agreed to reduce its fees and pay the Hodges Fund's expenses (excluding Acquired Fund Fees and Expenses, interest expense in connection with investment activities, taxes and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment for shares of the Hodges Fund to 1.18% for the Retail Class Shares and 0.93% for the Institutional Class Shares (the "Expense Caps"). The Expense Caps will remain in effect at least until July 31, 2019. The agreement may be terminated at any time by the Board upon 60 days' written notice to the Advisor, or by the Advisor with the consent of the Board. The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Cap in place at the time of waiver or at the time of reimbursement.
Example
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Retail Class
120
407
714
1,588
Institutional Class
95
329
581
1,304
Portfolio Turnover
Principal Investment Strategies
Principal Investment Risks
·
·
·
·
·
·
·
·
·
·
·
· Performance
Hodges Fund Calendar Year Total Returns as of December 31 Retail Class
Average Annual Total Returns as of December 31, 2017
Retail Class
Retail Class Shares Return Before Taxes
13.83%
18.90%
7.12%
Institutional Class
Institutional Class Shares Return Before Taxes
14.11%
19.29%
7.41%
After Taxes on Distributions | Retail Class
Retail Class Shares Return After Taxes on Distributions
11.90%
18.43%
6.89%
After Taxes on Distributions and Sale of Fund Shares | Retail Class
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
9.27%
15.38%
5.75%
S&P 500® Index (reflects no deduction for fees, expenses or taxes)
S&P 500® Index (reflects no deduction for fees, expenses or taxes)
21.83%
15.79%
8.50%
Label
Element
Value
Hodges Fund
Risk/Return:
rr_RiskReturnAbstract
Risk/Return [Heading]
rr_RiskReturnHeading
Hodges Fund
Objective [Heading]
rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block]
rr_ObjectivePrimaryTextBlock
Expense [Heading]
rr_ExpenseHeading
Fees and Expenses of the Fund
Expense Narrative [Text Block]
rr_ExpenseNarrativeTextBlock
Shareholder Fees Caption [Text]
rr_ShareholderFeesCaption
Shareholder Fees (fees paid directly from your investment)
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)
Fee Waiver or Reimbursement over Assets, Date of Termination
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination
Jul. 31, 2019
Portfolio Turnover [Heading]
rr_PortfolioTurnoverHeading
Portfolio Turnover
Portfolio Turnover [Text Block]
rr_PortfolioTurnoverTextBlock
Portfolio Turnover, Rate
rr_PortfolioTurnoverRate
142.00%
Expense Example [Heading]
rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block]
rr_ExpenseExampleNarrativeTextBlock
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
Risk [Heading]
rr_RiskHeading
Principal Investment Risks
Risk Narrative [Text Block]
rr_RiskNarrativeTextBlock
·
·
·
·
·
·
·
·
·
·
·
·
Risk Lose Money [Text]
rr_RiskLoseMoney
There is a risk that you could lose all or a portion of your investment in the Hodges Fund.
Bar Chart and Performance Table [Heading]
rr_BarChartAndPerformanceTableHeading
Performance
Performance Narrative [Text Block]
rr_PerformanceNarrativeTextBlock
Performance Information Illustrates Variability of Returns [Text]
rr_PerformanceInformationIllustratesVariabilityOfReturns
The following performance information provides some indication of the risks of investing in the Hodges Fund.
Performance Availability Website Address [Text]
rr_PerformanceAvailabilityWebSiteAddress
www.hodgesfunds.com
Performance Past Does Not Indicate Future [Text]
rr_PerformancePastDoesNotIndicateFuture
The Hodges Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.
Bar Chart [Heading]
rr_BarChartHeading
Hodges Fund Calendar Year Total Returns as of December 31 Retail Class
Bar Chart Closing [Text Block]
rr_BarChartClosingTextBlock
Year to Date Return, Label
rr_YearToDateReturnLabel
year-to-date return
Bar Chart, Year to Date Return, Date
rr_BarChartYearToDateReturnDate
Jun. 30, 2018
Bar Chart, Year to Date Return
rr_BarChartYearToDateReturn
(1.29%)
Highest Quarterly Return, Label
rr_HighestQuarterlyReturnLabel
Highest Quarterly Return:
Highest Quarterly Return, Date
rr_BarChartHighestQuarterlyReturnDate
Sep. 30, 2009
Highest Quarterly Return
rr_BarChartHighestQuarterlyReturn
29.30%
Lowest Quarterly Return, Label
rr_LowestQuarterlyReturnLabel
Lowest Quarterly Return:
Lowest Quarterly Return, Date
rr_BarChartLowestQuarterlyReturnDate
Dec. 31, 2008
Lowest Quarterly Return
rr_BarChartLowestQuarterlyReturn
(32.21%)
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 and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred
rr_PerformanceTableNotRelevantToTaxDeferred
Actual after-tax returns depend on your situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).
Performance Table Closing [Text Block]
rr_PerformanceTableClosingTextBlock
Caption
rr_AverageAnnualReturnCaption
Average Annual Total Returns as of December 31, 2017
Hodges Fund | 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
21.83%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
15.79%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
8.50%
Hodges Fund | Retail Class
Risk/Return:
rr_RiskReturnAbstract
Redemption Fee (as a percentage of Amount Redeemed)
rr_RedemptionFeeOverRedemption
(1.00%)
Management Fees
rr_ManagementFeesOverAssets
0.85%
Distribution and Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.25%
Other Expenses
rr_OtherExpensesOverAssets
0.23%
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.33%
Fee Waiver and/or Expense Reimbursement/Recoupment
rr_FeeWaiverOrReimbursementOverAssets
(0.15%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment
rr_NetExpensesOverAssets
1.18%
[1]
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
$ 120
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
407
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
714
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
$ 1,588
Annual Return 2008
rr_AnnualReturn2008
(49.49%)
Annual Return 2009
rr_AnnualReturn2009
36.26%
Annual Return 2010
rr_AnnualReturn2010
21.08%
Annual Return 2011
rr_AnnualReturn2011
(13.42%)
Annual Return 2012
rr_AnnualReturn2012
16.07%
Annual Return 2013
rr_AnnualReturn2013
57.24%
Annual Return 2014
rr_AnnualReturn2014
7.30%
Annual Return 2015
rr_AnnualReturn2015
(11.48%)
Annual Return 2016
rr_AnnualReturn2016
39.78%
Annual Return 2017
rr_AnnualReturn2017
13.83%
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return Before Taxes
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
13.83%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
18.90%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
7.12%
Hodges Fund | Retail Class | After Taxes on Distributions
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
11.90%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
18.43%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
6.89%
Hodges Fund | Retail Class | After Taxes on Distributions and Sale of Fund Shares
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
9.27%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
15.38%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
5.75%
Hodges Fund | Institutional Class
Risk/Return:
rr_RiskReturnAbstract
Redemption Fee (as a percentage of Amount Redeemed)
rr_RedemptionFeeOverRedemption
(1.00%)
Management Fees
rr_ManagementFeesOverAssets
0.85%
Distribution and Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
none
Other Expenses
rr_OtherExpensesOverAssets
0.23%
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.08%
Fee Waiver and/or Expense Reimbursement/Recoupment
rr_FeeWaiverOrReimbursementOverAssets
(0.15%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment
rr_NetExpensesOverAssets
0.93%
[1]
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
$ 95
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
329
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
581
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
$ 1,304
Label
rr_AverageAnnualReturnLabel
Institutional Class Shares Return Before Taxes
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
14.11%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
19.29%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
7.41%
[1]
Hodges Capital Management, Inc. (the "Advisor") has contractually agreed to reduce its fees and pay the Hodges Fund's expenses (excluding Acquired Fund Fees and Expenses, interest expense in connection with investment activities, taxes and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment for shares of the Hodges Fund to 1.18% for the Retail Class Shares and 0.93% for the Institutional Class Shares (the "Expense Caps"). The Expense Caps will remain in effect at least until July 31, 2019. The agreement may be terminated at any time by the Board upon 60 days' written notice to the Advisor, or by the Advisor with the consent of the Board. The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Cap in place at the time of waiver or at the time of reimbursement.
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Hodges Small Cap Fund
Hodges Small Cap Fund
Investment Objective
Fees and Expenses of the Fund
Shareholder Fees (fees paid directly from your investment)
Redemption/Exchange Fee (as a percentage of amount redeemed/exchanged within 30 days of purchase(Retail Class) and within 60 days of purchase (Institutional Class))
1.00%
1.00%
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees
0.85%
0.85%
Distribution and Service (Rule 12b-1) Fees
0.25%
none
Other Expenses
0.20%
0.20%
Total Annual Fund Operating Expenses
1.30%
1.05%
Example
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Retail Class
132
412
713
1,568
Institutional Class
107
334
579
1,283
Portfolio Turnover
Principal Investment Strategies
Principal Investment Risks
·
·
·
·
·
·
·
·
·
·
·
·
· Performance
Hodges Small Cap Fund Calendar Year Total Returns as of December 31 Retail Class
Average Annual Total Returns as of December 31, 2017
Retail Class
Retail Class Shares Return Before Taxes
9.19%
12.31%
10.37%
Institutional Class
Institutional Class Shares Return Before Taxes
9.52%
12.67%
10.73%
After Taxes on Distributions | Retail Class
Retail Class Shares Return After Taxes on Distributions
5.62%
11.30%
9.65%
After Taxes on Distributions and Sale of Fund Shares | Retail Class
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
7.70%
9.70%
8.44%
Russell 2000® Index (reflects no deduction for fees, expenses or taxes)
Russell 2000® Index (reflects no deduction for fees, expenses or taxes)
14.65%
14.12%
8.71%
Label
Element
Value
Hodges Small Cap Fund
Risk/Return:
rr_RiskReturnAbstract
Risk/Return [Heading]
rr_RiskReturnHeading
Hodges Small Cap Fund
Objective [Heading]
rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block]
rr_ObjectivePrimaryTextBlock
Expense [Heading]
rr_ExpenseHeading
Fees and Expenses of the Fund
Expense Narrative [Text Block]
rr_ExpenseNarrativeTextBlock
Shareholder Fees Caption [Text]
rr_ShareholderFeesCaption
Shareholder Fees (fees paid directly from your investment)
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
Portfolio Turnover, Rate
rr_PortfolioTurnoverRate
45.00%
Expense Example [Heading]
rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block]
rr_ExpenseExampleNarrativeTextBlock
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
Risk [Heading]
rr_RiskHeading
Principal Investment Risks
Risk Narrative [Text Block]
rr_RiskNarrativeTextBlock
·
·
·
·
·
·
·
·
·
·
·
·
·
Risk Lose Money [Text]
rr_RiskLoseMoney
There is a risk that you could lose all or a portion of your investment in the Small Cap Fund.
Bar Chart and Performance Table [Heading]
rr_BarChartAndPerformanceTableHeading
Performance
Performance Narrative [Text Block]
rr_PerformanceNarrativeTextBlock
Performance Information Illustrates Variability of Returns [Text]
rr_PerformanceInformationIllustratesVariabilityOfReturns
The following performance information provides some indication of the risks of investing in the Small Cap Fund.
Performance Availability Website Address [Text]
rr_PerformanceAvailabilityWebSiteAddress
www.hodgesfunds.com
Performance Past Does Not Indicate Future [Text]
rr_PerformancePastDoesNotIndicateFuture
The Small Cap Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.
Bar Chart [Heading]
rr_BarChartHeading
Hodges Small Cap Fund Calendar Year Total Returns as of December 31 Retail Class
Bar Chart Closing [Text Block]
rr_BarChartClosingTextBlock
Year to Date Return, Label
rr_YearToDateReturnLabel
year-to-date return
Bar Chart, Year to Date Return, Date
rr_BarChartYearToDateReturnDate
Jun. 30, 2018
Bar Chart, Year to Date Return
rr_BarChartYearToDateReturn
6.14%
Highest Quarterly Return, Label
rr_HighestQuarterlyReturnLabel
Highest Quarterly Return:
Highest Quarterly Return, Date
rr_BarChartHighestQuarterlyReturnDate
Sep. 30, 2009
Highest Quarterly Return
rr_BarChartHighestQuarterlyReturn
29.98%
Lowest Quarterly Return, Label
rr_LowestQuarterlyReturnLabel
Lowest Quarterly Return:
Lowest Quarterly Return, Date
rr_BarChartLowestQuarterlyReturnDate
Dec. 31, 2008
Lowest Quarterly Return
rr_BarChartLowestQuarterlyReturn
(29.73%)
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 and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred
rr_PerformanceTableNotRelevantToTaxDeferred
Actual after-tax returns depend on your situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or IRAs.
Performance Table Explanation after Tax Higher
rr_PerformanceTableExplanationAfterTaxHigher
The “Return After Taxes on Distributions and Sale of Fund Shares” is higher than other return figures when a capital loss occurs upon the redemption of Fund shares.
Performance Table Closing [Text Block]
rr_PerformanceTableClosingTextBlock
Caption
rr_AverageAnnualReturnCaption
Average Annual Total Returns as of December 31, 2017
Hodges Small Cap Fund | Russell 2000® Index (reflects no deduction for fees, expenses or taxes)
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Russell 2000® Index (reflects no deduction for fees, expenses or taxes)
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
14.65%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
14.12%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
8.71%
Hodges Small Cap Fund | Retail Class
Risk/Return:
rr_RiskReturnAbstract
Redemption Fee (as a percentage of Amount Redeemed)
rr_RedemptionFeeOverRedemption
(1.00%)
Management Fees
rr_ManagementFeesOverAssets
0.85%
Distribution and Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.25%
Other Expenses
rr_OtherExpensesOverAssets
0.20%
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.30%
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
$ 132
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
412
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
713
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
$ 1,568
Annual Return 2008
rr_AnnualReturn2008
(40.62%)
Annual Return 2009
rr_AnnualReturn2009
49.22%
Annual Return 2010
rr_AnnualReturn2010
35.56%
Annual Return 2011
rr_AnnualReturn2011
4.40%
Annual Return 2012
rr_AnnualReturn2012
20.67%
Annual Return 2013
rr_AnnualReturn2013
45.56%
Annual Return 2014
rr_AnnualReturn2014
6.05%
Annual Return 2015
rr_AnnualReturn2015
(8.75%)
Annual Return 2016
rr_AnnualReturn2016
16.18%
Annual Return 2017
rr_AnnualReturn2017
9.19%
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return Before Taxes
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
9.19%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
12.31%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
10.37%
Hodges Small Cap Fund | Retail Class | After Taxes on Distributions
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
5.62%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
11.30%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
9.65%
Hodges Small Cap Fund | Retail Class | After Taxes on Distributions and Sale of Fund Shares
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
7.70%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
9.70%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
8.44%
Hodges Small Cap Fund | Institutional Class
Risk/Return:
rr_RiskReturnAbstract
Redemption Fee (as a percentage of Amount Redeemed)
rr_RedemptionFeeOverRedemption
(1.00%)
Management Fees
rr_ManagementFeesOverAssets
0.85%
Distribution and Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
none
Other Expenses
rr_OtherExpensesOverAssets
0.20%
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.05%
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
$ 107
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
334
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
579
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
$ 1,283
Label
rr_AverageAnnualReturnLabel
Institutional Class Shares Return Before Taxes
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
9.52%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
12.67%
Average Annual Returns, 10 Years
rr_AverageAnnualReturnYear10
10.73%
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M_'7Y,_A^R[=X\G?S4%NS#64=RS'IANFXXL:;\>7Z3W'X#X]$3?7WV+MG#_[O
M_TW#P_?>X5?U@H>=1[P\S["54. 5:6 U'&^F'ZTE;:1?C;K@MNDX9M@(#!OS
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MN =U.VJQ8-9TK/K+\UCZT ),.OMDS+Y^,G;5UH(!^.WM,[#RZ3^ @6'")9,0
MKZO#8_/F8/ZLWV#6@D?0MFW;;-KK/GP/+S_[%+[[=A.>?.#^G'SOGSD55T^_
M#1'&,&3D6'RY_A,\^< \C/CI28KU,:NWOFUD[<20WSZB,*)\9.Y6^X@OGW&:
M?IEJU-M65!?>7_0I:VO5O%7&@.J]8>
Hodges Small Intrinsic Value Fund
Hodges Small Intrinsic Value Fund
Investment Objective
Fees and Expenses of the Fund
Shareholder Fees (fees paid directly from your investment)
Redemption/Exchange Fee (as a percentage of amount redeemed/exchanged within 30 days of purchase)
1.00%
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees
0.85%
Distribution and Service (Rule 12b-1) Fees
0.25%
Other Expenses
0.28%
Total Annual Fund Operating Expenses
1.38%
Fee Waiver and/or Expense Reimbursement/Recoupment
(0.09%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment
1.29%
[1]
[1]
Hodges Capital Management, Inc. (the "Advisor") has contractually agreed to reduce its fees and pay the Small Intrinsic Value Fund's expenses (excluding Acquired Fund Fees and Expenses, interest expense in connection with investment activities, taxes and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment for shares of the Small Intrinsic Value Fund to 1.29% (the "Expense Cap"). The Expense Cap will remain in effect at least until July 31, 2019. The agreement may be terminated at any time by the Board upon 60 days' written notice to the Advisor, or by the Advisor with the consent of the Board. The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Cap in place at the time of waiver or at the time of reimbursement.
Example
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Hodges Small Intrinsic Value Fund | Retail Class | USD ($)
131
428
747
1,650
Portfolio Turnover
Principal Investment Strategies
Principal Investment Risks
·
·
·
·
·
·
·
·
·
·
· Performance
Hodges Small Intrinsic Value Fund Calendar Year Total Returns as of December 31 Retail Class
Average Annual Total Returns as of December 31, 2017
Retail Class
Retail Class Shares Return Before Taxes
8.76%
9.56%
Dec. 26, 2013
After Taxes on Distributions | Retail Class
Retail Class Shares Return After Taxes on Distributions
8.01%
9.30%
After Taxes on Distributions and Sale of Fund Shares | Retail Class
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
5.56%
7.48%
Russell 2000® Index (reflects no deduction for fees, expenses or taxes)
Russell 2000® Index (reflects no deduction for fees, expenses or taxes)
14.65%
8.67%
Dec. 26, 2013
Russell 2000® Value Total Return Index (reflects no deduction for fees, expenses or taxes)
Russell 2000® Value Total Return Index (reflects no deduction for fees, expenses or taxes)
7.84%
8.19%
Dec. 26, 2013
Label
Element
Value
Hodges Small Intrinsic Value Fund
Risk/Return:
rr_RiskReturnAbstract
Risk/Return [Heading]
rr_RiskReturnHeading
Hodges Small Intrinsic Value Fund
Objective [Heading]
rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block]
rr_ObjectivePrimaryTextBlock
Expense [Heading]
rr_ExpenseHeading
Fees and Expenses of the Fund
Expense Narrative [Text Block]
rr_ExpenseNarrativeTextBlock
Shareholder Fees Caption [Text]
rr_ShareholderFeesCaption
Shareholder Fees (fees paid directly from your investment)
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)
Fee Waiver or Reimbursement over Assets, Date of Termination
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination
Jul. 31, 2019
Portfolio Turnover [Heading]
rr_PortfolioTurnoverHeading
Portfolio Turnover
Portfolio Turnover [Text Block]
rr_PortfolioTurnoverTextBlock
Portfolio Turnover, Rate
rr_PortfolioTurnoverRate
103.00%
Expense Example [Heading]
rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block]
rr_ExpenseExampleNarrativeTextBlock
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
Risk [Heading]
rr_RiskHeading
Principal Investment Risks
Risk Narrative [Text Block]
rr_RiskNarrativeTextBlock
·
·
·
·
·
·
·
·
·
·
·
Risk Lose Money [Text]
rr_RiskLoseMoney
There is a risk that you could lose all or a portion of your investment in the Small Intrinsic Value Fund.
Bar Chart and Performance Table [Heading]
rr_BarChartAndPerformanceTableHeading
Performance
Performance Narrative [Text Block]
rr_PerformanceNarrativeTextBlock
Performance Information Illustrates Variability of Returns [Text]
rr_PerformanceInformationIllustratesVariabilityOfReturns
The following performance information provides some indication of the risks of investing in the Small Intrinsic Value Fund.
Performance Availability Website Address [Text]
rr_PerformanceAvailabilityWebSiteAddress
www.hodgesfunds.com
Performance Past Does Not Indicate Future [Text]
rr_PerformancePastDoesNotIndicateFuture
The Small Intrinsic Value Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.
Bar Chart [Heading]
rr_BarChartHeading
Hodges Small Intrinsic Value Fund Calendar Year Total Returns as of December 31 Retail Class
Bar Chart Closing [Text Block]
rr_BarChartClosingTextBlock
Year to Date Return, Label
rr_YearToDateReturnLabel
year-to-date return
Bar Chart, Year to Date Return, Date
rr_BarChartYearToDateReturnDate
Jun. 30, 2018
Bar Chart, Year to Date Return
rr_BarChartYearToDateReturn
3.38%
Highest Quarterly Return, Label
rr_HighestQuarterlyReturnLabel
Highest Quarterly Return:
Highest Quarterly Return, Date
rr_BarChartHighestQuarterlyReturnDate
Dec. 31, 2016
Highest Quarterly Return
rr_BarChartHighestQuarterlyReturn
13.26%
Lowest Quarterly Return, Label
rr_LowestQuarterlyReturnLabel
Lowest Quarterly Return:
Lowest Quarterly Return, Date
rr_BarChartLowestQuarterlyReturnDate
Sep. 30, 2015
Lowest Quarterly Return
rr_BarChartLowestQuarterlyReturn
(11.10%)
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 and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred
rr_PerformanceTableNotRelevantToTaxDeferred
Actual after-tax returns depend on your situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or IRAs.
Performance Table Closing [Text Block]
rr_PerformanceTableClosingTextBlock
Caption
rr_AverageAnnualReturnCaption
Average Annual Total Returns as of December 31, 2017
Hodges Small Intrinsic Value Fund | Russell 2000® Index (reflects no deduction for fees, expenses or taxes)
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Russell 2000® Index (reflects no deduction for fees, expenses or taxes)
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
14.65%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
8.67%
Average Annual Returns, Inception Date
rr_AverageAnnualReturnInceptionDate
Dec. 26, 2013
Hodges Small Intrinsic Value Fund | Russell 2000® Value Total Return Index (reflects no deduction for fees, expenses or taxes)
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Russell 2000® Value Total Return Index (reflects no deduction for fees, expenses or taxes)
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
7.84%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
8.19%
Average Annual Returns, Inception Date
rr_AverageAnnualReturnInceptionDate
Dec. 26, 2013
Hodges Small Intrinsic Value Fund | Retail Class
Risk/Return:
rr_RiskReturnAbstract
Redemption Fee (as a percentage of Amount Redeemed)
rr_RedemptionFeeOverRedemption
(1.00%)
Management Fees
rr_ManagementFeesOverAssets
0.85%
Distribution and Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.25%
Other Expenses
rr_OtherExpensesOverAssets
0.28%
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.38%
Fee Waiver and/or Expense Reimbursement/Recoupment
rr_FeeWaiverOrReimbursementOverAssets
(0.09%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment
rr_NetExpensesOverAssets
1.29%
[1]
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
$ 131
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
428
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
747
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
$ 1,650
Annual Return 2014
rr_AnnualReturn2014
12.04%
Annual Return 2015
rr_AnnualReturn2015
(0.83%)
Annual Return 2016
rr_AnnualReturn2016
19.76%
Annual Return 2017
rr_AnnualReturn2017
8.76%
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return Before Taxes
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
8.76%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
9.56%
Average Annual Returns, Inception Date
rr_AverageAnnualReturnInceptionDate
Dec. 26, 2013
Hodges Small Intrinsic Value Fund | Retail Class | After Taxes on Distributions
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
8.01%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
9.30%
Hodges Small Intrinsic Value Fund | Retail Class | After Taxes on Distributions and Sale of Fund Shares
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
5.56%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
7.48%
[1]
Hodges Capital Management, Inc. (the "Advisor") has contractually agreed to reduce its fees and pay the Small Intrinsic Value Fund's expenses (excluding Acquired Fund Fees and Expenses, interest expense in connection with investment activities, taxes and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment for shares of the Small Intrinsic Value Fund to 1.29% (the "Expense Cap"). The Expense Cap will remain in effect at least until July 31, 2019. The agreement may be terminated at any time by the Board upon 60 days' written notice to the Advisor, or by the Advisor with the consent of the Board. The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Cap in place at the time of waiver or at the time of reimbursement.
Hodges Small-Mid Cap Fund
Hodges Small-Mid Cap Fund
Investment Objective
Fees and Expenses of the Fund
Shareholder Fees (fees paid directly from your investment)
Redemption/Exchange Fee (as a percentage of amount redeemed/exchanged within 30 days of purchase (Retail Class) and within 60 days of purchase (Institutional Class))
1.00%
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees
0.85%
Distribution and Service (Rule 12b-1) Fees
0.25%
Other Expenses
0.76%
Total Annual Fund Operating Expenses
1.86%
Fee Waiver and/or Expense Reimbursement/Recoupment
(0.46%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment
1.40%
[1]
[1]
Hodges Capital Management, Inc. (the "Advisor") has contractually agreed to reduce its fees and pay the SMID Fund's expenses (excluding Acquired Fund Fees and Expenses, interest expense in connection with investment activities, taxes and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment for shares of the SMID Fund to 1.40% (the "Expense Cap"). The Expense Cap will remain in effect at least until July 31, 2019. The agreement may be terminated at any time by the Board upon 60 days' written notice to the Advisor, or by the Advisor with the consent of the Board. The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Cap in place at the time of waiver or at the time of reimbursement.
Example
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Hodges Small-Mid Cap Fund | Retail Class | USD ($)
143
540
963
2,142
Portfolio Turnover
Principal Investment Strategies
Principal Investment Risks
·
·
·
·
·
·
·
·
·
· Performance
Hodges Small-Mid Cap Fund Calendar Year Total Returns as of December 31 Retail Class
Average Annual Total Returns as of December 31, 2017
Retail Class
Retail Class Shares Return Before Taxes
9.17%
8.88%
Dec. 26, 2013
After Taxes on Distributions | Retail Class
Retail Class Shares Return After Taxes on Distributions
8.29%
8.52%
After Taxes on Distributions and Sale of Fund Shares | Retail Class
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
5.89%
6.93%
Russell 2500® Index (reflects no deduction for fees, expenses or taxes)
Russell 2500® Index (reflects no deduction for fees, expenses or taxes)
16.81%
9.39%
Dec. 26, 2013
Label
Element
Value
Hodges Small-Mid Cap Fund
Risk/Return:
rr_RiskReturnAbstract
Risk/Return [Heading]
rr_RiskReturnHeading
Hodges Small-Mid Cap Fund
Objective [Heading]
rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block]
rr_ObjectivePrimaryTextBlock
Expense [Heading]
rr_ExpenseHeading
Fees and Expenses of the Fund
Expense Narrative [Text Block]
rr_ExpenseNarrativeTextBlock
Shareholder Fees Caption [Text]
rr_ShareholderFeesCaption
Shareholder Fees (fees paid directly from your investment)
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)
Fee Waiver or Reimbursement over Assets, Date of Termination
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination
Jul. 31, 2019
Portfolio Turnover [Heading]
rr_PortfolioTurnoverHeading
Portfolio Turnover
Portfolio Turnover [Text Block]
rr_PortfolioTurnoverTextBlock
Portfolio Turnover, Rate
rr_PortfolioTurnoverRate
74.00%
Expense Example [Heading]
rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block]
rr_ExpenseExampleNarrativeTextBlock
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
Risk [Heading]
rr_RiskHeading
Principal Investment Risks
Risk Narrative [Text Block]
rr_RiskNarrativeTextBlock
·
·
·
·
·
·
·
·
·
·
Risk Lose Money [Text]
rr_RiskLoseMoney
There is a risk that you could lose all or a portion of your investment in the SMID Fund.
Bar Chart and Performance Table [Heading]
rr_BarChartAndPerformanceTableHeading
Performance
Performance Narrative [Text Block]
rr_PerformanceNarrativeTextBlock
Performance Information Illustrates Variability of Returns [Text]
rr_PerformanceInformationIllustratesVariabilityOfReturns
The following performance information provides some indication of the risks of investing in the SMID Fund.
Performance Availability Website Address [Text]
rr_PerformanceAvailabilityWebSiteAddress
www.hodgesfunds.com
Performance Past Does Not Indicate Future [Text]
rr_PerformancePastDoesNotIndicateFuture
The SMID Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.
Bar Chart [Heading]
rr_BarChartHeading
Hodges Small-Mid Cap Fund Calendar Year Total Returns as of December 31 Retail Class
Bar Chart Closing [Text Block]
rr_BarChartClosingTextBlock
Year to Date Return, Label
rr_YearToDateReturnLabel
year-to-date return
Bar Chart, Year to Date Return, Date
rr_BarChartYearToDateReturnDate
Jun. 30, 2018
Bar Chart, Year to Date Return
rr_BarChartYearToDateReturn
3.23%
Highest Quarterly Return, Label
rr_HighestQuarterlyReturnLabel
Highest Quarterly Return:
Highest Quarterly Return, Date
rr_BarChartHighestQuarterlyReturnDate
Dec. 31, 2016
Highest Quarterly Return
rr_BarChartHighestQuarterlyReturn
14.55%
Lowest Quarterly Return, Label
rr_LowestQuarterlyReturnLabel
Lowest Quarterly Return:
Lowest Quarterly Return, Date
rr_BarChartLowestQuarterlyReturnDate
Sep. 30, 2015
Lowest Quarterly Return
rr_BarChartLowestQuarterlyReturn
(9.04%)
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 and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred
rr_PerformanceTableNotRelevantToTaxDeferred
Actual after-tax returns depend on your situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or IRAs.
Performance Table Closing [Text Block]
rr_PerformanceTableClosingTextBlock
Caption
rr_AverageAnnualReturnCaption
Average Annual Total Returns as of December 31, 2017
Hodges Small-Mid Cap Fund | Russell 2500® Index (reflects no deduction for fees, expenses or taxes)
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Russell 2500® Index (reflects no deduction for fees, expenses or taxes)
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
16.81%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
9.39%
Average Annual Returns, Inception Date
rr_AverageAnnualReturnInceptionDate
Dec. 26, 2013
Hodges Small-Mid Cap Fund | Retail Class
Risk/Return:
rr_RiskReturnAbstract
Redemption Fee (as a percentage of Amount Redeemed)
rr_RedemptionFeeOverRedemption
(1.00%)
Management Fees
rr_ManagementFeesOverAssets
0.85%
Distribution and Service (Rule 12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.25%
Other Expenses
rr_OtherExpensesOverAssets
0.76%
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
1.86%
Fee Waiver and/or Expense Reimbursement/Recoupment
rr_FeeWaiverOrReimbursementOverAssets
(0.46%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment
rr_NetExpensesOverAssets
1.40%
[1]
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
$ 143
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
540
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
963
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
$ 2,142
Annual Return 2014
rr_AnnualReturn2014
5.88%
Annual Return 2015
rr_AnnualReturn2015
(0.20%)
Annual Return 2016
rr_AnnualReturn2016
21.62%
Annual Return 2017
rr_AnnualReturn2017
9.17%
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return Before Taxes
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
9.17%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
8.88%
Average Annual Returns, Inception Date
rr_AverageAnnualReturnInceptionDate
Dec. 26, 2013
Hodges Small-Mid Cap Fund | Retail Class | After Taxes on Distributions
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
8.29%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
8.52%
Hodges Small-Mid Cap Fund | Retail Class | After Taxes on Distributions and Sale of Fund Shares
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
5.89%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
6.93%
[1]
Hodges Capital Management, Inc. (the "Advisor") has contractually agreed to reduce its fees and pay the SMID Fund's expenses (excluding Acquired Fund Fees and Expenses, interest expense in connection with investment activities, taxes and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment for shares of the SMID Fund to 1.40% (the "Expense Cap"). The Expense Cap will remain in effect at least until July 31, 2019. The agreement may be terminated at any time by the Board upon 60 days' written notice to the Advisor, or by the Advisor with the consent of the Board. The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Cap in place at the time of waiver or at the time of reimbursement.
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Hodges Pure Contrarian Fund
Hodges Pure Contrarian Fund
Investment Objective
Fees and Expenses of the Fund
Shareholder Fees (fees paid directly from your investment)
Redemption/Exchange Fee (as a percentage of amount redeemed/exchanged within 30 days of purchase)
1.00%
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees
0.85%
Distribution and Service (12b-1) Fees
0.25%
Other Expenses
1.37%
Total Annual Fund Operating Expenses
2.47%
Fee Waiver and/or Expense Reimbursement/Recoupment
(1.07%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment
1.40%
[1]
[1]
Hodges Capital Management, Inc. (the "Advisor") has contractually agreed to reduce its fees and pay the Pure Contrarian Fund's expenses (excluding Acquired Fund Fees and Expenses, interest expense in connection with investment activities, taxes and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment for Retail Class shares of the Pure Contrarian Fund to 1.40% of the Fund's average net assets (the "Expense Cap"). The Expense Cap will remain in effect at least until July 31, 2019. The agreement may be terminated at any time by the Board upon 60 days' written notice to the Advisor, or by the Advisor with the consent of the Board. The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Cap in place at the time of waiver or at the time of reimbursement.
Example
Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Hodges Pure Contrarian Fund | Retail Class | USD ($)
143
667
1,219
2,725
Portfolio Turnover
Principal Investment Strategies
Principal Investment Risks
·
·
·
·
·
·
·
·
·
·
·
·
· Performance
Hodges Pure Contrarian Fund Calendar Year Total Returns as of December 31 Retail Class
Average Annual Total Returns as of December 31, 2017
Retail Class
Retail Class Shares Return Before Taxes
(2.82%)
7.99%
8.15%
Sep. 10, 2009
After Taxes on Distributions | Retail Class
Retail Class Shares Return After Taxes on Distributions
(6.34%)
5.60%
6.53%
After Taxes on Distributions and Sale of Fund Shares | Retail Class
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
(1.48%)
5.51%
6.08%
S&P 500® Index (reflects no deduction for fees, expenses or taxes)
S&P 500® Index (reflects no deduction for fees, expenses or taxes)
21.83%
15.79%
14.36%
Sep. 10, 2009
Label
Element
Value
Hodges Pure Contrarian Fund
Risk/Return:
rr_RiskReturnAbstract
Risk/Return [Heading]
rr_RiskReturnHeading
Hodges Pure Contrarian Fund
Objective [Heading]
rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block]
rr_ObjectivePrimaryTextBlock
Expense [Heading]
rr_ExpenseHeading
Fees and Expenses of the Fund
Expense Narrative [Text Block]
rr_ExpenseNarrativeTextBlock
Shareholder Fees Caption [Text]
rr_ShareholderFeesCaption
Shareholder Fees (fees paid directly from your investment)
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)
Fee Waiver or Reimbursement over Assets, Date of Termination
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination
Jul. 31, 2019
Portfolio Turnover [Heading]
rr_PortfolioTurnoverHeading
Portfolio Turnover
Portfolio Turnover [Text Block]
rr_PortfolioTurnoverTextBlock
Portfolio Turnover, Rate
rr_PortfolioTurnoverRate
74.00%
Expense Example [Heading]
rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block]
rr_ExpenseExampleNarrativeTextBlock
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
Risk [Heading]
rr_RiskHeading
Principal Investment Risks
Risk Narrative [Text Block]
rr_RiskNarrativeTextBlock
·
·
·
·
·
·
·
·
·
·
·
·
·
Risk Lose Money [Text]
rr_RiskLoseMoney
There is a risk that you could lose all or a portion of your investment in the Pure Contrarian Fund.
Risk Nondiversified Status [Text]
rr_RiskNondiversifiedStatus
The Pure Contrarian Fund is non-diversified which means an increase or decrease in the value of a single security may have a greater impact on the Pure Contrarian Fund’s total return than would happen to a diversified fund.
Bar Chart and Performance Table [Heading]
rr_BarChartAndPerformanceTableHeading
Performance
Performance Narrative [Text Block]
rr_PerformanceNarrativeTextBlock
Performance Information Illustrates Variability of Returns [Text]
rr_PerformanceInformationIllustratesVariabilityOfReturns
The following performance information provides some indication of the risks of investing in the Pure Contrarian Fund.
Performance Availability Website Address [Text]
rr_PerformanceAvailabilityWebSiteAddress
www.hodgesfunds.com
Performance Past Does Not Indicate Future [Text]
rr_PerformancePastDoesNotIndicateFuture
The Pure Contrarian Fund’s past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.
Bar Chart [Heading]
rr_BarChartHeading
Hodges Pure Contrarian Fund Calendar Year Total Returns as of December 31 Retail Class
Bar Chart Footnotes [Text Block]
rr_BarChartFootnotesTextBlock
Bar Chart Closing [Text Block]
rr_BarChartClosingTextBlock
Year to Date Return, Label
rr_YearToDateReturnLabel
year-to-date return
Bar Chart, Year to Date Return, Date
rr_BarChartYearToDateReturnDate
Jun. 30, 2018
Bar Chart, Year to Date Return
rr_BarChartYearToDateReturn
(5.23%)
Highest Quarterly Return, Label
rr_HighestQuarterlyReturnLabel
Highest Quarterly Return:
Highest Quarterly Return, Date
rr_BarChartHighestQuarterlyReturnDate
Sep. 30, 2016
Highest Quarterly Return
rr_BarChartHighestQuarterlyReturn
20.28%
Lowest Quarterly Return, Label
rr_LowestQuarterlyReturnLabel
Lowest Quarterly Return:
Lowest Quarterly Return, Date
rr_BarChartLowestQuarterlyReturnDate
Sep. 30, 2011
Lowest Quarterly Return
rr_BarChartLowestQuarterlyReturn
(24.41%)
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 and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred
rr_PerformanceTableNotRelevantToTaxDeferred
Actual after-tax returns depend on your situation and may differ from those shown. Furthermore, the after-tax returns shown are not relevant to those who hold their shares through tax-deferred arrangements such as 401(k) plans or IRAs.
Performance Table Explanation after Tax Higher
rr_PerformanceTableExplanationAfterTaxHigher
The “Return After Taxes on Distributions and Sale of Fund Shares” is higher than other return figures when a capital loss occurs upon the redemption of Fund shares.
Performance Table Closing [Text Block]
rr_PerformanceTableClosingTextBlock
Caption
rr_AverageAnnualReturnCaption
Average Annual Total Returns as of December 31, 2017
Hodges Pure Contrarian Fund | 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
21.83%
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
15.79%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
14.36%
Average Annual Returns, Inception Date
rr_AverageAnnualReturnInceptionDate
Sep. 10, 2009
Hodges Pure Contrarian Fund | Retail Class
Risk/Return:
rr_RiskReturnAbstract
Redemption Fee (as a percentage of Amount Redeemed)
rr_RedemptionFeeOverRedemption
(1.00%)
Management Fees
rr_ManagementFeesOverAssets
0.85%
Distribution and Service (12b-1) Fees
rr_DistributionAndService12b1FeesOverAssets
0.25%
Other Expenses
rr_OtherExpensesOverAssets
1.37%
Total Annual Fund Operating Expenses
rr_ExpensesOverAssets
2.47%
Fee Waiver and/or Expense Reimbursement/Recoupment
rr_FeeWaiverOrReimbursementOverAssets
(1.07%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment
rr_NetExpensesOverAssets
1.40%
[1]
Expense Example, with Redemption, 1 Year
rr_ExpenseExampleYear01
$ 143
Expense Example, with Redemption, 3 Years
rr_ExpenseExampleYear03
667
Expense Example, with Redemption, 5 Years
rr_ExpenseExampleYear05
1,219
Expense Example, with Redemption, 10 Years
rr_ExpenseExampleYear10
$ 2,725
Annual Return 2010
rr_AnnualReturn2010
27.54%
Annual Return 2011
rr_AnnualReturn2011
(24.46%)
Annual Return 2012
rr_AnnualReturn2012
24.65%
Annual Return 2013
rr_AnnualReturn2013
46.69%
Annual Return 2014
rr_AnnualReturn2014
(4.21%)
Annual Return 2015
rr_AnnualReturn2015
(36.93%)
Annual Return 2016
rr_AnnualReturn2016
70.51%
Annual Return 2017
rr_AnnualReturn2017
(2.82%)
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return Before Taxes
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
(2.82%)
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
7.99%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
8.15%
Average Annual Returns, Inception Date
rr_AverageAnnualReturnInceptionDate
Sep. 10, 2009
Hodges Pure Contrarian Fund | Retail Class | After Taxes on Distributions
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
(6.34%)
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
5.60%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
6.53%
Hodges Pure Contrarian Fund | Retail Class | After Taxes on Distributions and Sale of Fund Shares
Risk/Return:
rr_RiskReturnAbstract
Label
rr_AverageAnnualReturnLabel
Retail Class Shares Return After Taxes on Distributions and Sale of Fund Shares
Average Annual Returns, 1 Year
rr_AverageAnnualReturnYear01
(1.48%)
Average Annual Returns, 5 Years
rr_AverageAnnualReturnYear05
5.51%
Average Annual Returns, Since Inception
rr_AverageAnnualReturnSinceInception
6.08%
[1]
Hodges Capital Management, Inc. (the "Advisor") has contractually agreed to reduce its fees and pay the Pure Contrarian Fund's expenses (excluding Acquired Fund Fees and Expenses, interest expense in connection with investment activities, taxes and extraordinary expenses) in order to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement/Recoupment for Retail Class shares of the Pure Contrarian Fund to 1.40% of the Fund's average net assets (the "Expense Cap"). The Expense Cap will remain in effect at least until July 31, 2019. The agreement may be terminated at any time by the Board upon 60 days' written notice to the Advisor, or by the Advisor with the consent of the Board. The Advisor is permitted, with Board approval, to be reimbursed for fee reductions and/or expense payments made in the prior three years. This reimbursement may be requested if the aggregate amount actually paid by the Fund toward operating expenses for such period (taking into account any reimbursement) does not exceed the lesser of the Expense Cap in place at the time of waiver or at the time of reimbursement.
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