Shareholder Report | 12 Months Ended |
Oct. 31, 2024 USD ($) Holding |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | INVESTMENT MANAGERS SERIES TRUST II |
Entity Central Index Key | 0001587982 |
Entity Investment Company Type | N-1A |
Document Period End Date | Oct. 31, 2024 |
C000231837 [Member] | |
Shareholder Report [Line Items] | |
Fund Name | The Ambassador Fund |
Class Name | The Ambassador Fund |
Trading Symbol | EMPIX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the The Ambassador Fund (“Fund”) for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.embassyfunds.com/the-ambassador-fund/ |
Additional Information Phone Number | (877) 771-7731 |
Additional Information Website | https://www.embassyfunds.com/the-ambassador-fund/ |
Expenses [Text Block] | Fund Expenses (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage The Ambassador Fund $ 1.46 % |
Expenses Paid, Amount | $ 156 |
Expense Ratio, Percent | 1.46% |
Factors Affecting Performance [Text Block] | Management’s Discussion of Fund Performance The investment objective of The Ambassador Fund (the "Fund") is to seek current income. The Fund invests primarily in catastrophe ("cat") bonds and other forms of insurance-linked securities. The main risk in the fund is the occurrence of large insured losses from natural disasters such as major hurricanes, typhoons or earthquakes. The Fund is currently invested in a portfolio of cat bonds that is exposed to a set of natural disasters that we believe is diversified both geographically and by type of peril. HOW DID THE FUND PERFORM LAST YEAR? In the fiscal year ended October 31, 2024, the Fund earned a return of +13.50% (net of fees) while the Swiss Re Global Cat Bond Total Return Index returned +16.41% and the broad based Bloomberg Aggregate Bond Index returned +10.55%. WHAT AFFECTED THE FUND'S PERFORMANCE The two main drivers of the Fund's positive return for the past twelve months were: 1) cat bond spreads and 2) T-Bill rates. The average spread on the Fund's cat bond holding was approximately 10%. We would highlight that, for the risk taken, the spreads earned in the last twelve months were high compared to what we would expect in the long run. In addition, the majority of the Fund's holdings are collateralized with Treasury Money Market Funds that earn a 1- 3 mo T-Bill return. T-Bill rates during the past twelve months averaged approximately 5%. We believe it is important to note that, in the past twelve months and as of this writing, none of the Fund's holdings were impaired by any single natural disaster or series of natural disasters. |
Performance Past Does Not Indicate Future [Text] | Keep in mind that the Fund’s past performance is not a good predictor of how the Fund will perform in the future. |
Line Graph [Table Text Block] | Fund Performance The following graph and chart compare the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Fund, or for the life of the Fund, if shorter. It assumes a $250,000 initial investment at the beginning of the first fiscal year in an appropriate, broad-based securities market index for the same period. GROWTH OF $250,000 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURN 1 Year Since 1 The Ambassador Fund (EMPIX) 13.50 % 8.11 % Swiss re Global Cat Bond Index 16.41 % 10.80 % Bloomberg Aggregate Bond Index 10.55 % -2.21 % 1 The Ambassador Fund commenced operations on December 29, 2021. |
Performance Inception Date | Dec. 29, 2021 |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Net Assets | $ 339,387,505 |
Holdings Count | Holding | 113 |
Advisory Fees Paid, Amount | $ 2,638,081 |
Investment Company Portfolio Turnover | 117% |
Additional Fund Statistics [Text Block] | Key Fund Statistics The following table outlines key fund statistics that you should pay attention to. Fund net assets $ Total number of portfolio holdings 113 Total advisory fees paid (net) $ Portfolio turnover rate as of the end of the reporting period 117 % |
Holdings [Text Block] | Graphical Representation of Holdings The tables below show the investment makeup of the Fund, representing percentage of the total net assets of the Fund. The Top Ten Holdings and Geography Allocation exclude short-term holdings, if any. Interest rate presented in the Top Ten Holdings are as of the reporting period end. The Geography Allocation chart represents Event Linked Bonds of the Fund. Top Ten Holdings Lightning Re Series 2023-1, 3/31/2026 5.4 % United States Treasury Bill, 0.000%, 12/5/2024 2.9 % Alamo Re Ltd., 6/7/2027 2.9 % Cape Lookout Re Ltd., 4/28/2026 2.7 % Consulate Re 2024-4A, 4.550%, 12/31/2024 2.2 % Kilimanjaro III Re Ltd., 6/25/2025 2.2 % Kendall Re Ltd., 4/30/2027 2.1 % Tomoni Re Pte Ltd., 4/7/2026 2.0 % Merna Reinsurance II Ltd., 7/7/2027 2.0 % Mystic Re IV Ltd., 1/8/2026 1.9 % Asset Allocation Geography Allocation |
Largest Holdings [Text Block] | Top Ten Holdings Lightning Re Series 2023-1, 3/31/2026 5.4 % United States Treasury Bill, 0.000%, 12/5/2024 2.9 % Alamo Re Ltd., 6/7/2027 2.9 % Cape Lookout Re Ltd., 4/28/2026 2.7 % Consulate Re 2024-4A, 4.550%, 12/31/2024 2.2 % Kilimanjaro III Re Ltd., 6/25/2025 2.2 % Kendall Re Ltd., 4/30/2027 2.1 % Tomoni Re Pte Ltd., 4/7/2026 2.0 % Merna Reinsurance II Ltd., 7/7/2027 2.0 % Mystic Re IV Ltd., 1/8/2026 1.9 % |
Material Fund Change [Text Block] | Material Fund Changes The Fund did not have any material changes that occurred since the beginning of the reporting period. |
Accountant Change Disagreements [Text Block] | Changes in and Disagreements with Accountants There were no changes in or disagreements with the Fund's accountants during the reporting period. |
C000237757 [Member] | |
Shareholder Report [Line Items] | |
Fund Name | The Diplomat Fund |
Class Name | The Diplomat Fund |
Trading Symbol | EMWIX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the The Diplomat Fund (“Fund”) for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.embassyfunds.com/the-diplomat-fund/ |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. |
Additional Information Phone Number | (877) 771-7731 |
Additional Information Website | https://www.embassyfunds.com/the-diplomat-fund/ |
Expenses [Text Block] | Fund Expenses (Based on a hypothetical $10,000 investment) Fund Costs of a $10,000 investment Costs paid as a percentage The Diplomat Fund $ 1.00 % |
Expenses Paid, Amount | $ 105 |
Expense Ratio, Percent | 1% |
Factors Affecting Performance [Text Block] | Management’s Discussion of Fund Performance The investment objective of The Diplomat Fund (the "Fund") is to seek total return. The fund invests in a core portfolio of U.S. Treasury securities, generally with maturities of 7 to 10 years. The Fund adjusts its total duration using interest rate futures contracts. The main risk of the Fund is that interest rates move counter to the Fund's total duration positioning. Interest rates generally do not move linearly throughout time and we believe that passive approaches to duration risk can be subject to significant losses when interest rates rise. The Fund uses a proprietary quantitative model to anticipate periods of rising and falling interest rates over an approximately 30-day period. Informed by this model, the Fund actively manages its total duration with the goal of outperforming a passive approach to duration risk, in the long run, as represented by the ICE US Treasury 7-10 Year Bond Total Return Index (the "Index"). HOW DID THE FUND PERFORM LAST YEAR? In the fiscal year ended October 31, 2024, the Fund earned a return of +9.02% (net of fees) while the Index returned +9.36% and the broad-based Bloomberg Aggregate Bond Index returned +10.55%. WHAT AFFECTED THE FUND'S PERFORMANCE The two main drivers of the Fund's positive return for the past twelve months are: 1) the return of 7-10y Treasury securities and 2) performance of the interest rate futures overlay. 7-10y Treasury securities earned approximately 8%. The futures holdings earned approximately 2% over past twelve months. |
Performance Past Does Not Indicate Future [Text] | Keep in mind that the Fund’s past performance is not a good predictor of how the Fund will perform in the future.
|
Line Graph [Table Text Block] | Fund Performance The following graph and chart compare the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the Fund, or for the life of the Fund, if shorter. It assumes a $10,000 initial investment at the beginning of the first fiscal year in an appropriate, broad-based securities market index for the same period. GROWTH OF $10,000 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURN 1 Year Since 1 The Diplomat Fund (EMWIX) 9.02 % 4.28 % ICE US Treasury 7-10 Year Bond Index TR 9.36 % 1.00 % Bloomberg Aggregate Bond Index 10.55 % 2.94 % 1 The Diplomat Fund commenced operations on September 13, 2022. |
Performance Inception Date | Sep. 13, 2022 |
No Deduction of Taxes [Text Block] | The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Net Assets | $ 11,136,084 |
Holdings Count | Holding | 4 |
Advisory Fees Paid, Amount | $ 0 |
Investment Company Portfolio Turnover | 76% |
Additional Fund Statistics [Text Block] | Key Fund Statistics The following table outlines key fund statistics that you should pay attention to. Fund net assets $ Total number of portfolio holdings 4 Total advisory fees paid (net) $ Portfolio turnover rate as of the end of the reporting period 76 % |
Holdings [Text Block] | Graphical Representation of Holdings The tables below show the investment makeup of the Fund, representing percentage of the total net assets of the Fund. The Top Holdings exclude short-term holdings, if any. Interest rate presented in the Top Holdings are as of the reporting period end. Top Holdings United States Treasury Note, 4.000%, 2/15/2034 64.4 % United States Treasury Note, 3.875%, 8/15/2033 22.7 % United States Treasury Note, 4.500%, 11/15/2033 6.2 % Asset Allocation |
Largest Holdings [Text Block] | Top Holdings United States Treasury Note, 4.000%, 2/15/2034 64.4 % United States Treasury Note, 3.875%, 8/15/2033 22.7 % United States Treasury Note, 4.500%, 11/15/2033 6.2 % |
Material Fund Change [Text Block] | Material Fund Changes Effective July 9, 2024, RichBrook Advisors, LP no longer serves as The Diplomat Fund's Sub- Advisor. |
Accountant Change Disagreements [Text Block] | Changes in and Disagreements with Accountants There were no changes in or disagreements with the Fund's accountants during the reporting period. |