v3.25.4
Fees and Expenses - Easterly RocMuni High Income Municipal Bond Fund
Mar. 09, 2026
USD ($)
Prospectus [Line Items]  
Expense Heading [Optional Text] Fees and Expenses of the Fund:
Expense Narrative [Text Block]

This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, for transactions in Class I, which are not reflected in the tables and examples below. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Easterly Funds. More information about these and other discounts is available from your financial professional and in the Choosing a Share Class section on page 17 of this Prospectus. In addition, Appendix A attached to this Prospectus contains information regarding financial intermediary-specific sales charge waivers and discounts.

 

Expense Breakpoint Discounts [Text] You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Easterly Funds.
Expense Breakpoint, Minimum Investment Required [Amount] $ 50,000
Shareholder Fees Caption [Optional Text] Shareholder Fees (fees paid directly from your investment)
Shareholder Fees [Table]
SHAREHOLDER FEES
(fees paid directly from your investment)
Class A Investor
Class
Class I
Maximum Sales Charge (Load) Imposed on Purchases as a % of offering price 2.00% None None
Maximum Sales Charge (Load) Imposed on Reinvested Dividends as a % of offering price None None None
Maximum Contingent Deferred Sales Charge (Load) as a % of offering price NONE1 None None
Redemption Fee None None None
Operating Expenses Caption [Optional Text] Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses [Table]
ANNUAL FUND OPERATING EXPENSES
(expenses that you pay each year as a percentage of the value of your investment)
Class A Investor
Class
Class I
Management Fees 0.55% 0.55% 0.55%
Distribution and/or Service Rule 12b-1 Fees 0.25% 0.50% None
Other Expenses 0.62% 0.55% 0.65%
Interest Expense 0.15% 0.12% 0.17%
Remainder of Other Expenses 0.47% 0.43% 0.48%
Total Annual Fund Operating Expenses before Fee Waiver and/or Expense Reduction/Reimbursement 1.42% 1.60% 1.20%
Fee Waiver and/or Expense Reduction/ Reimbursement (0.22%) (0.18%) (0.23%)
Total Annual Fund Operating Expenses after Fee Waiver and/or Expense Reduction/Reimbursement2 1.20% 1.42% 0.97%

 

1.A contingent deferred sales charge may apply in some cases. See “Choosing a Share Class - Class A Shares.”

 

2.Pursuant to an operating expense limitation agreement between Easterly Investment Partners LLC, the Fund’s investment manager (“Easterly” or the “Adviser”), and the Fund, Easterly has contractually agreed to waive all or a portion of its advisory fee and/or pay expenses of the Fund so that total annual Fund operating expenses (excluding front-end and contingent deferred sales loads, leverage, interest and tax expenses, dividends and interest on short positions, brokerage commissions, expenses incurred in connection with any merger, reorganization or liquidation, extraordinary or non-routine expenses and Acquired Fund Fees and Expenses) for Class A, Investor Class and Class I do not exceed 1.05%, 1.30% and 0.80%, respectively. The expense limitation agreement for Class A, Investor Class and Class I shares will be in effect through October 4, 2027. This operating expense limitation agreement cannot be terminated during its term. Easterly is permitted to seek reimbursement from the Fund, subject to limitations, for management fees waived and expenses paid (including management fees waived and expenses paid by the investment adviser to the predecessor series, as applicable) within three (3) years from the date on which such management fees were waived or expenses paid, as long as the reimbursement does not cause the Fund’s operating expenses to exceed (i) the expense cap in place at the time the fees were waived or the expenses were incurred; or (ii) the current expense cap, whichever is less.

 

Expense Example [Heading] Expense Example:
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 mutual funds.

Expense Example by, Year, Caption [Text] The Example assumes that you invest $10,000 in the Fund for the time periods indicated. It also shows costs if you sold your shares at the end of the period or continued to hold them. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The Example reflects the contractual fee waiver/expense reimbursement arrangement for the duration of the arrangement only, if applicable. Although your actual costs may be higher or lower, based on these assumptions, your costs, would be:
Expense Example, With Redemption [Table]
  1 Year 3 Years 5 Years 10 Years
Class A $122 $405 $733 $1,663
Investor Class $145 $469 $836 $1,869
Class I $99 $334 $614 $1,413

 

Portfolio Turnover [Heading] Portfolio Turnover:
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 rate 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 annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the portfolio turnover rate of the Fund was 19% of the average value of its portfolio.

Portfolio Turnover, Rate 19.00%