The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year for Institutional Class shares and by showing how the average annual total returns of each class of the Fund compare with the average annual total returns of the Russell 3000 Index, the Fund’s primary broad-based securities market index, and the Russell 2500 Index, which the Advisor believes is a better performance benchmark for comparison to the Fund’s performance in light of the Fund’s investment strategies. Performance for classes other than those shown may vary from the performance shown to the extent the expenses for those classes differ. Updated performance information is available at the Fund’s website, www.kennedycapital.com, or by calling the Fund at 1-877-882-8825. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
The year-to-date return as of March 31, 2026 was 1.68%.
| Institutional Shares | ||
| Highest Calendar Quarter Return at NAV | 27.93% | Quarter Ended 12/31/2020 |
| Lowest Calendar Quarter Return at NAV | (27.72)% | Quarter Ended 03/31/2020 |
| Average Annual Total Returns |
|
| Since Inception |
| Institutional Shares – Return Before Taxes | 9.53% | 7.56% | 10.32% |
| Institutional Shares – Return After Taxes on Distributions* | 8.27% | 6.89% | 9.78% |
| Institutional Shares – Return After Taxes on Distributions and Sale of Fund Shares* | 6.59% | 5.86% | 8.24% |
| Russell 2500 Index (reflects no deductions for fees, expenses or taxes) | 11.91% | 7.26% | 9.69% |
| Russell 3000 Index (reflects no deductions for fees, expenses or taxes) | 17.15% | 13.15% | 14.93% |
* 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. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year for Institutional Class shares and by showing how the average annual total returns of each class of the Fund compare with the average annual total returns of the Russell 3000 Index, the Fund’s primary broad-based securities market index, and the Russell 2000 Growth Index, which the Advisor believes is a better performance benchmark for comparison to the Fund’s performance in light of the Fund’s investment strategies. Performance for classes other than those shown may vary from the performance shown to the extent the expenses for those classes differ. Updated performance information is available at the Fund’s website, www.kennedycapital.com, or by calling the Fund at 1-877-882-8825. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
The year-to-date return as of March 31, 2026, was 1.68%.
| Institutional Shares | ||
| Highest Calendar Quarter Return at NAV | 16.90% | Quarter Ended 12/31/2023 |
| Lowest Calendar Quarter Return at NAV | (13.56)% | Quarter Ended 3/31/2025 |
| Average Annual Total Returns | 1 Year | Since Inception |
| Institutional Shares – Return Before Taxes | 8.56% | 9.40% |
| Institutional Shares – Return After Taxes on Distributions* | 7.02% | 8.73% |
| Institutional Shares – Return After Taxes on Distributions and Sale of Fund Shares* | 5.96% | 7.21% |
| Russell 2000 Growth Index (reflects no deductions for fees, expenses or taxes) | 13.01% | 10.96% |
| Russell 3000 Index (reflects no deductions for fees, expenses or taxes) | 17.15% | 15.34% |
* 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. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year for Institutional Class shares and by showing how the average annual total returns of each class of the Fund compare with the average annual total returns of the Russell 3000 Index, the Fund’s primary broad-based securities market index, and the Russell 2000 Value Index, which the Advisor believes is a better performance benchmark for comparison to the Fund’s performance in light of the Fund’s investment strategies. Performance for classes other than those shown may vary from the performance shown to the extent the expenses for those classes differ. Updated performance information is available at the Fund’s website, www.kennedycapital.com, or by calling the Fund at 1-877-882-8825. The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.
The year-to-date return as of March 31, 2026, was 6.41%.
| Institutional Shares | ||
| Highest Calendar Quarter Return at NAV | 13.44% | Quarter Ended 12/31/2023 |
| Lowest Calendar Quarter Return at NAV | (4.20)% | Quarter Ended 3/31/2025 |
| Average Annual Total Returns |
| Since Inception |
| Institutional Shares – Return Before Taxes | 6.42% | 9.65% |
| Institutional Shares – Return After Taxes on Distributions* | 5.52% | 8.70% |
| Institutional Shares – Return After Taxes on Distributions and Sale of Fund Shares* | 4.43% | 7.40% |
| Russell 2000 Value Index (reflects no deductions for fees, expenses or taxes) | 12.59% | 7.67% |
| Russell 3000 Index (reflects no deductions for fees, expenses or taxes) | 17.15% | 15.34% |
* 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. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.