v3.26.1
Fees and Expenses - BTS Managed Income Fund
Apr. 21, 2026
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, which are not reflected in the tables and examples below. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in How to Purchase Shares on page [15] of the Fund’s Prospectus.

 

Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.
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 Class C Class I Class R
Maximum Sales Charge (Load) Imposed on Purchases
(as a % of offering price)
3.75% None None None
Maximum Deferred Sales Charge (Load)
(as a % of the lower of original purchase price or redemption proceeds)
1.00% None None None
Maximum Sales Charge (Load) Imposed
on Reinvested Dividends and other Distributions
None None None None
Redemption Fee None 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)

       
Management Fees 0.65% 0.65% 0.65% 0.65%
Distribution and/or Service (12b-1) Fees 0.25% 1.00% 0.00% 0.50%
Other Expenses 3.53% 3.53% 3.53% 3.53%
Acquired Fund Fees and Expenses(1) 0.27% 0.27% 0.27% 0.27%
Total Annual Fund Operating Expenses 4.70% 5.45% 4.45% 4.95%
Fee Waiver and/or Expense Reimbursement(2) (2.68)% (2.68)% (2.68)% (2.68)%
Total Annual Fund Operating Expenses
After Fee Waiver and/or Expense Reimbursement
2.02% 2.77% 1.77% 2.27%
(1)Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.
(2)The Trust, on behalf of the Fund, has entered into an operating expense limitation agreement with the BTS Asset Management, Inc. (the ”Adviser”), pursuant to which the Adviser has contractually agreed to waive management fees and to make payments to limit Fund expenses, until at least April 30, 2027 so that the total annual operating expenses (exclusive of certain fees or expenses) do not exceed 1.75%, 2.50%, 1.50% and 2.00% of average daily net assets attributable to Class A, Class C, Class I and Class R shares. The agreement excludes any front-end or contingent deferred loads, brokerage fees and commissions, acquired fund fees and expenses, fees and expenses associated with instruments in other collective investment vehicles or derivative instruments (including for example options and swap fees and expenses), borrowing costs (such as interest and dividend expense on securities sold short), taxes and extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees and contractual indemnification of Fund service providers (other than the adviser) from the expense limitation. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund in future years on a rolling three-year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the foregoing expense limits and the limits at the time of recoupment. This agreement may be terminated only by the Board of Trustee, on 60 days written notice to the Adviser.

 

Expense Example [Heading] 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 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. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Expense Example, With Redemption [Table]
Class 1 Year 3 Years 5 Years 10 Years
Class A $572 $1,507 $2,447 $4,822
Class C $280 $1,389 $2,489 $5,194
Class I $180 $1,104 $2,038 $4,418
Class R $230 $1,248 $2,266 $4,817

 

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 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 Fund’s portfolio turnover was 413% of the average value of its portfolio.

 

Portfolio Turnover, Rate 413.00%