Fund Fees and Expenses

Expenses Restated to Reflect Current [Text]

The information in the table has been restated to reflect current fees and expenses.

Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text]

AFFE reflect fees and expenses incurred indirectly by the fund through its investments in the underlying funds. The total annual fund operating expenses in the fee table may differ from the expense ratios in the fund’s “Financial Highlights” that include only the fund’s direct operating expenses and not AFFE.

Shareholder Fees [Table]

Shareholder Fees (fees paid directly from your investment)
			None

Annual Fund Operating Expenses [Table]

Annual Fund Operating Expenses (expenses that you pay each year as a % of the value of your investment)(1)
Management fees			None
Distribution (12b-1) fees			None
Other expenses			0.27
Acquired fund fees and expenses (AFFE)(2)			0.19
Total annual fund operating expenses(2)			0.46
Less expense reduction			(0.27)
Total annual fund operating expenses (including AFFE) after expense reduction(2)(3)			0.19

(1)

The information in the table has been restated to reflect current fees and expenses.

(2)

AFFE are based on estimated amounts for the current fiscal period. AFFE reflect fees and expenses incurred indirectly by the fund through its investments in the underlying funds. The total annual fund operating expenses in the fee table may differ from the expense ratios in the fund’s “Financial Highlights” that include only the fund’s direct operating expenses and not AFFE.

(3)

The investment adviser and its affiliates have agreed to limit the total annual fund operating expenses (excluding interest, taxes and certain non-routine expenses) of the fund to 0.00% for so long as the investment adviser serves as the adviser to the fund. This agreement may only be amended or terminated with the approval of the fund’s Board of Trustees. This agreement is limited to the fund’s direct operating expenses and does not apply to AFFE.

Expense Example Narrative [Text Block]

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 time periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. The figures are based on total annual fund operating expenses (including AFFE) after any expense reduction. Your actual costs may be higher or lower.

Expense Example, With Redemption [Table]

Expenses on a $10,000 Investment
1 Year			3 Years			5 Years			10 Years
	$	19		$	61		$	107		$	243

Portfolio Turnover [Text Block]

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 14% of the average value of its portfolio.

Expense Heading [Optional Text]

Fund Fees and Expenses

Expenses Restated to Reflect Current [Text]

The information in the table has been restated to reflect current fees and expenses.

Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text]

AFFE reflect fees and expenses incurred indirectly by the fund through its investments in the underlying funds. The total annual fund operating expenses in the fee table may differ from the expense ratios in the fund’s “Financial Highlights” that include only the fund’s direct operating expenses and not AFFE.

Shareholder Fees [Table]

Shareholder Fees (fees paid directly from your investment)
			None

Annual Fund Operating Expenses [Table]

Annual Fund Operating Expenses (expenses that you pay each year as a % of the value of your investment)(1)
Management fees			None
Distribution (12b-1) fees			None
Other expenses			0.16
Acquired fund fees and expenses (AFFE)(2)			0.19
Total annual fund operating expenses(2)			0.35
Less expense reduction			(0.16)
Total annual fund operating expenses (including AFFE) after expense reduction(2)(3)			0.19

(1)

The information in the table has been restated to reflect current fees and expenses.

(2)

AFFE are based on estimated amounts for the current fiscal period. AFFE reflect fees and expenses incurred indirectly by the fund through its investments in the underlying funds. The total annual fund operating expenses in the fee table may differ from the expense ratios in the fund’s “Financial Highlights” that include only the fund’s direct operating expenses and not AFFE.

(3)

The investment adviser and its affiliates have agreed to limit the total annual fund operating expenses (excluding interest, taxes and certain non-routine expenses) of the fund to 0.00% for so long as the investment adviser serves as the adviser to the fund. This agreement may only be amended or terminated with the approval of the fund’s Board of Trustees. This agreement is limited to the fund’s direct operating expenses and does not apply to AFFE.

Expense Example Narrative [Text Block]

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 time periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. The figures are based on total annual fund operating expenses (including AFFE) after any expense reduction. Your actual costs may be higher or lower.

Expense Example, With Redemption [Table]

Expenses on a $10,000 Investment
1 Year			3 Years			5 Years			10 Years
	$	19		$	61		$	107		$	243

Portfolio Turnover [Text Block]

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 14% of the average value of its portfolio.

Expense Heading [Optional Text]

Fund Fees and Expenses

Expenses Restated to Reflect Current [Text]

The information in the table has been restated to reflect current fees and expenses.

Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text]

AFFE reflect fees and expenses incurred indirectly by the fund through its investments in the underlying funds. The total annual fund operating expenses in the fee table may differ from the expense ratios in the fund’s “Financial Highlights” that include only the fund’s direct operating expenses and not AFFE.

Shareholder Fees [Table]

Shareholder Fees (fees paid directly from your investment)
			None

Annual Fund Operating Expenses [Table]

Annual Fund Operating Expenses (expenses that you pay each year as a % of the value of your investment)(1)
Management fees			None
Distribution (12b-1) fees			None
Other expenses			0.14
Acquired fund fees and expenses (AFFE)(2)			0.16
Total annual fund operating expenses(2)			0.30
Less expense reduction			(0.14)
Total annual fund operating expenses (including AFFE) after expense reduction(2)(3)			0.16

(1)

The information in the table has been restated to reflect current fees and expenses.

(2)

AFFE are based on estimated amounts for the current fiscal period. AFFE reflect fees and expenses incurred indirectly by the fund through its investments in the underlying funds. The total annual fund operating expenses in the fee table may differ from the expense ratios in the fund’s “Financial Highlights” that include only the fund’s direct operating expenses and not AFFE.

(3)

The investment adviser and its affiliates have agreed to limit the total annual fund operating expenses (excluding interest, taxes and certain non-routine expenses) of the fund to 0.00% for so long as the investment adviser serves as the adviser to the fund. This agreement may only be amended or terminated with the approval of the fund’s Board of Trustees. This agreement is limited to the fund’s direct operating expenses and does not apply to AFFE.

Expense Example Narrative [Text Block]

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 time periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. The figures are based on total annual fund operating expenses (including AFFE) after any expense reduction. Your actual costs may be higher or lower.

Expense Example, With Redemption [Table]

Expenses on a $10,000 Investment
1 Year			3 Years			5 Years			10 Years
	$	16		$	52		$	90		$	205

Portfolio Turnover [Text Block]

The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the example, affect the fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 8% of the average value of its portfolio.