XML 11 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Label Element Value
Prospectus [Line Items] rr_ProspectusLineItems  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Apr. 30, 2017
Registrant Name dei_EntityRegistrantName ADVISORONE FUNDS
Central Index Key dei_EntityCentralIndexKey 0001029068
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol adv
Document Creation Date dei_DocumentCreationDate Sep. 01, 2017
Document Effective Date dei_DocumentEffectiveDate Sep. 01, 2017
Prospectus Date rr_ProspectusDate Sep. 01, 2017
Milestone Treasury Obligations Fund Investor Class Shares [Member] | Milestone Treasury Obligations Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading

FUND SUMMARY

Objective [Heading] rr_ObjectiveHeading

Investment Objective:

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Milestone Treasury Obligations Fund (the “Fund”) is a money market fund that seeks to provide its shareholders with the maximum current income that is consistent with the preservation of capital and the maintenance of liquidity.

Expense [Heading] rr_ExpenseHeading

Fees and Expenses of the Fund:

Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption

Shareholder Fees

(fees paid directly from your investment)

Operating Expenses Caption [Text] rr_OperatingExpensesCaption

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Expense Example [Heading] rr_ExpenseExampleHeading

Example:

Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

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] rr_ExpenseExampleByYearCaption

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:

Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies:

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

As a fundamental policy, which cannot be changed without shareholder approval, the Fund invests only in:

 

• U.S. Treasury obligations maturing in 397 days or less.

 

• Repurchase agreements fully collateralized by U.S. Treasury obligations.

 

The Fund may invest in U.S. Treasury obligations or repurchase agreements without limit in order to qualify as a “government money market fund” in connection with amendments adopted by the U.S. Securities and Exchange Commission to Rule 2a-7 and other rules governing money market funds, under the Investment Company Act of 1940, as amended. Although the Fund intends to be fully invested in these instruments, it may hold a de minimis amount of cash for a short period prior to investment or payment of the proceeds of redemption. As a government money market fund, the Fund must invest at least 99.5% of its total assets in cash, government securities and/or repurchase agreements that are “collateralized fully” (i.e., backed by cash or government securities). Additionally, as a government money market fund, the Fund is not required to impose a liquidity fee and/or temporary redemption gate if the Fund’s weekly liquid asset fall below 30% of its total assets. While the Fund’s Board of Trustees may elect to subject the Fund to liquidity fee and gate requirements in the future, it has not elected to do so at this time.

 

The Fund will maintain an average maturity computed on a dollar-weighted basis of 60 days or less and a dollar-weighted average life of 120 days or less.

Risk [Heading] rr_RiskHeading

Principal Investment Risks:

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Although the Fund invests in short-term Treasury obligations, an investment in the Fund is subject to risk even if all securities in the Fund are paid in full at maturity. All money market instruments, including U.S. Treasury obligations, can change in value in response to changes in interest rates, and a major change in rates could cause the share price to change. While U.S. Treasury obligations are backed by the full faith and credit of the U.S. government, an investment in the Fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation, U.S. government or any other government agency. Thus, while the Fund seeks to maintain a stable net asset value of $1.00 per share, there is no assurance that it will do so. It is possible to lose money by investing in the Fund. If the seller of a repurchase agreement in which the Fund invests defaults on its obligation or declares bankruptcy, the Fund may experience delays in selling the securities underlying the repurchase agreement. As a result, the Fund may incur losses arising from a decline in the value of those securities, reduced levels of income, and expenses of enforcing its rights.

Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Performance:

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and tables below provide some indication of the risks of investing in the Fund by showing changes in the performance of the Investor Class shares of the Fund from year to year and by showing how the Fund’s average annual returns for one, five and ten years compare with those of a broad measure of market performance. Performance for the periods prior to January 20, 2012 is that of the Treasury Obligations Portfolio, a series of The Milestone Funds, the predecessor of the Fund. Past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future. Updated performance information for AdvisorOne Funds is available at no cost by visiting www.advisoronefunds.com or by calling 1-866-811-0225.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and tables below provide some indication of the risks of investing in the Fund by showing changes in the performance of the Investor Class shares of the Fund from year to year and by showing how the Fund's average annual returns for one, five and ten years compare with those of a broad measure of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-866-811-0225
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.advisoronefunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading

Annual Returns for Years Ended December 31,

Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

Best Quarter

March 31, 2007

1.20%

Worst Quarter

March 31, 2015

0.00%*

* Less than 0.005%

Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2007
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 1.20%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn none [1]
Performance Table Heading rr_PerformanceTableHeading

Average Annual Total Returns

(For the periods ended December 31, 2016)

Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock

The Investor Class Shares' seven-day current yield on December 31, 2016 was 0.49%.

Money Market Seven Day Yield, Caption [Text] rr_MoneyMarketSevenDayYieldCaption The Investor Class Shares' seven-day current yield
Money Market Seven Day Yield, Date adv_MoneyMarketSevenDayYieldDate Dec. 31, 2016
Money Market Seven Day Yield rr_MoneyMarketSevenDayYield 0.49%
Milestone Treasury Obligations Fund Investor Class Shares [Member] | Milestone Treasury Obligations Fund | Lipper U.S. Treasury Money Market Funds Index  
Prospectus [Line Items] rr_ProspectusLineItems  
1 Year rr_AverageAnnualReturnYear01 0.0452%
5 Years rr_AverageAnnualReturnYear05 0.0138%
10 Years rr_AverageAnnualReturnYear10 0.5645%
Milestone Treasury Obligations Fund Investor Class Shares [Member] | Milestone Treasury Obligations Fund | Investor Class Shares  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol MTOXX
Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (as a percentage of Offering Price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption none
Exchange Fee rr_ExchangeFee none
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 0.10%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 0.10% [2]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 0.20%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 20
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 64
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 113
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 255
Annual Return 2007 rr_AnnualReturn2007 4.60%
Annual Return 2008 rr_AnnualReturn2008 1.44%
Annual Return 2009 rr_AnnualReturn2009 0.02%
Annual Return 2010 rr_AnnualReturn2010 0.01%
Annual Return 2011 rr_AnnualReturn2011 0.01%
Annual Return 2012 rr_AnnualReturn2012 none
Annual Return 2013 rr_AnnualReturn2013 none
Annual Return 2014 rr_AnnualReturn2014 none
Annual Return 2015 rr_AnnualReturn2015 0.01%
Annual Return 2016 rr_AnnualReturn2016 0.15%
1 Year rr_AverageAnnualReturnYear01 0.15%
5 Years rr_AverageAnnualReturnYear05 0.03%
10 Years rr_AverageAnnualReturnYear10 0.62%
Milestone Treasury Obligations Fund Institutional Class Shares [Member] | Milestone Treasury Obligations Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading

FUND SUMMARY

Objective [Heading] rr_ObjectiveHeading

Investment Objective:

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Milestone Treasury Obligations Fund (the Fund”) is a money market fund that seeks to provide its shareholders with the maximum current income that is consistent with the preservation of capital and the maintenance of liquidity.

Expense [Heading] rr_ExpenseHeading

Fees and Expenses of the Fund:

Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption

Shareholder Fees

(fees paid directly from your investment)

Operating Expenses Caption [Text] rr_OperatingExpensesCaption

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Expense Example [Heading] rr_ExpenseExampleHeading

Example:

Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

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] rr_ExpenseExampleByYearCaption

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:

Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies:

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

As a fundamental policy, which cannot be changed without shareholder approval, the Fund invests only in:

 

• U.S. Treasury obligations maturing in 397 days or less.

 

• Repurchase agreements fully collateralized by U.S. Treasury obligations.

 

The Fund may invest in U.S. Treasury obligations or repurchase agreements without limit in order to qualify as a “government money market fund” in connection with amendments adopted by the U.S. Securities and Exchange Commission to Rule 2a-7 and other rules governing money market funds under the Investment Company Act of 1940, as amended. Although the Fund intends to be fully invested in these instruments, it may hold a de minimis amount of cash for a short period prior to investment or payment of the proceeds of redemption. As a government money market fund, the Fund must invest at least 99.5% of its total assets in cash, government securities and/or repurchase agreements that are “collateralized fully” (i.e., backed by cash or government securities). Additionally, as a government money market fund, the Fund is not required to impose a liquidity fee and/or temporary redemption gate if the Fund’s weekly liquid assets fall below 30% of its total assets. While the Fund’s Board of Trustees may elect to subject the Fund to liquidity fee and gate requirements in the future, it has not elected to do so at this time.

 

The Fund will maintain an average maturity computed on a dollar-weighted basis of 60 days or less and a dollar-weighted average life of 120 days or less.

Risk [Heading] rr_RiskHeading

Principal Investment Risks:

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Although the Fund invests in short-term Treasury obligations, an investment in the Fund is subject to risk even if all securities in the Fund are paid in full at maturity. All money market instruments, including U.S. Treasury obligations, can change in value in response to changes in interest rates, and a major change in rates could cause the share price to change. While U.S. Treasury obligations are backed by the full faith and credit of the U.S. government, an investment in the Fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation, U.S. government or any other government agency. Thus, while the Fund seeks to maintain a stable net asset value of $1.00 per share, there is no assurance that it will do so. It is possible to lose money by investing in the Fund. If the seller of a repurchase agreement in which the Fund invests defaults on its obligation or declares bankruptcy, the Fund may experience delays in selling the securities underlying the repurchase agreement. As a result, the Fund may incur losses arising from a decline in the value of those securities, reduced levels of income, and expenses of enforcing its rights.

Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Performance:

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The following bar chart and tables below provide some indication of the risks of investing in the Fund by showing changes in the performance of the Institutional Class shares of the Fund from year to year and by showing how the Fund’s average annual returns for one, five and ten years compare with those of a broad measure of market performance. Performance for the period prior to January 20, 2012 is that of the Treasury Obligations Portfolio, a series of The Milestone Funds, the predecessor of the Fund. Past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future. Updated performance information for AdvisorOne Funds is available at no cost by visiting www.advisoronefunds.com or by calling 1-866-811-0225.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and tables below provide some indication of the risks of investing in the Fund by showing changes in the performance of the Institutional Class shares of the Fund from year to year and by showing how the Fund's average annual returns for one, five and ten years compare with those of a broad measure of market performance.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-866-811-0225
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.advisoronefunds.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading

Annual Returns for Years Ended December 31,

Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

Best Quarter

March 31, 2017

1.26%

Worst Quarter

March 31, 2015

0.00%*

* Less than 0.005%

Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2017
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 1.26%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn none [1]
Performance Table Heading rr_PerformanceTableHeading

Average Annual Total Returns

(For the periods ended December 31, 2016)

Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock

The Institutional Class Shares' seven-day current yield on December 31, 2016 was 0.49%.

Money Market Seven Day Yield, Caption [Text] rr_MoneyMarketSevenDayYieldCaption The Institutional Class Shares' seven-day current yield
Money Market Seven Day Yield, Date adv_MoneyMarketSevenDayYieldDate Dec. 31, 2016
Money Market Seven Day Yield rr_MoneyMarketSevenDayYield 0.49%
Milestone Treasury Obligations Fund Institutional Class Shares [Member] | Milestone Treasury Obligations Fund | Lipper U.S. Treasury Money Market Funds Index  
Prospectus [Line Items] rr_ProspectusLineItems  
1 Year rr_AverageAnnualReturnYear01 0.0452%
5 Years rr_AverageAnnualReturnYear05 0.0138%
10 Years rr_AverageAnnualReturnYear10 0.5645%
Milestone Treasury Obligations Fund Institutional Class Shares [Member] | Milestone Treasury Obligations Fund | Institutional Class Shares  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol MTIXX
Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (as a percentage of Offering Price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther none
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption none
Exchange Fee rr_ExchangeFee none
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 0.10%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 0.10% [2]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 0.20%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 20
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 64
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 113
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 255
Annual Return 2007 rr_AnnualReturn2007 4.86%
Annual Return 2008 rr_AnnualReturn2008 1.69%
Annual Return 2009 rr_AnnualReturn2009 0.13%
Annual Return 2010 rr_AnnualReturn2010 0.01%
Annual Return 2011 rr_AnnualReturn2011 0.01%
Annual Return 2012 rr_AnnualReturn2012 0.01%
Annual Return 2013 rr_AnnualReturn2013 none
Annual Return 2014 rr_AnnualReturn2014 none
Annual Return 2015 rr_AnnualReturn2015 0.01%
Annual Return 2016 rr_AnnualReturn2016 0.16%
1 Year rr_AverageAnnualReturnYear01 0.16%
5 Years rr_AverageAnnualReturnYear05 0.04%
10 Years rr_AverageAnnualReturnYear10 0.68%
[1] Less than 0.005%
[2] Remaining Other Expenses include 0.01% in recouped management fees in accordance with the fee waiver agreement.