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Net Asset Value and Financial Highlights
 9 Months Ended
Mar. 31, 2020
Net Asset Value And Financial Highlights [Abstract]  
Net Asset Value and Financial Highlights

(10) Net Asset Value and Financial Highlights

 

The Funds are presenting, as applicable, the following net asset value and financial highlights related to investment performance for a Share outstanding throughout the three months ended March 31, 2020 and March 31, 2019, respectively, and the nine months ended March 31, 2020 and 2019, respectively. The net investment income and total expense ratios are calculated using average net assets. The net asset value presentation is calculated by dividing each Fund's net assets by the average daily number of Shares outstanding. The net investment income (loss) and expense ratios have been annualized. The total return is based on the change in net asset value and market value of the Shares during the period. An individual investor's return and ratios may vary based on the timing of their transactions in Fund Shares.

  

   THREE MONTHS ENDED   THREE MONTHS ENDED 
   MARCH 31, 2020   MARCH 31, 2019 
   SIT RISING   BREAKWAVE DRY BULK
SHIPPING		   SIT RISING   BREAKWAVE DRY BULK
SHIPPING		 
   RATE ETF   ETF   RATE ETF   ETF 
                 
Net Asset Value                
Net asset value per Share, beginning of period  $22.96   $15.37   $24.06   $18.56 
Net investment income (loss)   0.02    (0.11)   0.08    (0.09)
Net realized and unrealized gain (loss)   (2.45)   (8.76)   (0.49)   (8.95)
Net Income (Loss)   (2.43)   (8.87)   (0.41)   (9.04)
Net Asset Value per Share, end of period  $20.53   $6.50   $23.65   $9.52 
Market Value per Share, end of period  $20.53   $6.39   $23.59   $9.36 
Ratios to Average Net Assets*                    
Expense Ratio***   1.08%   7.04%   1.11%   5.13%
Expense Ratio*** before Waiver/Assumption   8.41%   12.37%   1.63%   28.20%
Net Investment Income (Loss)   0.43%   (6.10%)   1.25%   (3.13%)
Total Return, at Net Asset Value**   (10.58%)   (57.71%)   (1.70%)   (48.71%)
Total Return, at Market Value**   (10.62%)   (58.64%)   (2.08%)   (47.77%)

 

*Percentages are annualized

**Percentages are not annualized

***For Sit Rising Rate ETF, Fund expenses have been capped at 1.00% of average daily net assets, plus brokerage commissions and interest expense. For Breakwave Dry Bulk Shipping ETF, Fund expenses have been capped at 3.50% of average daily net assets, plus brokerage commissions and interest expense.

  

 

   NINE MONTHS ENDED   NINE MONTHS ENDED 
   MARCH 31, 2020   MARCH 31, 2019 
   SIT RISING   BREAKWAVE DRY BULK
SHIPPING		   SIT RISING   BREAKWAVE DRY BULK
SHIPPING		 
   RATE ETF   ETF   RATE ETF   ETF 
                 
Net Asset Value                
Net asset value per Share, beginning of period  $22.70   $13.25   $24.65   $21.98 
Net investment income (loss)   0.14    (0.34)   0.19    (0.39)
Net realized and unrealized gain (loss)   (2.31)   (6.41)   (1.19)   (12.07)
Net Income (Loss)   (2.17)   (6.75)   (1.00)   (12.46)
Net Asset Value per Share, end of period  $20.53   $6.50   $23.65   $9.52 
Market Value per Share, end of period  $20.53   $6.39   $23.59   $9.36 
Ratios to Average Net Assets*                    
Expense Ratio***   1.08%   6.19%   1.11%   4.61%
Expense Ratio*** before Waiver/Assumption   7.09%   17.62%   1.36%   23.42%
Net Investment Income (Loss)   0.86%   (4.96%)   1.03%   (2.88%)
Total Return, at Net Asset Value**   (9.56%)   (50.94%)   (4.06%)   (56.69%)
Total Return, at Market Value**   (9.68%)   (51.41%)   (4.34%)   (57.53%)

 

*Percentages are annualized

**Percentages are not annualized

***For Sit Rising Rate ETF, Fund expenses have been capped at 1.00% of average daily net assets, plus brokerage commissions and interest expense. For Breakwave Dry Bulk Shipping ETF, Fund expenses have been capped at 3.50% of average daily net assets, plus brokerage commissions and interest expense.