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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pimco Etf Tr</name>
        <lei>N/A</lei>
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        <cusip>72201R783</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ishares Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Federal Home Loan Mortgage Corporation</name>
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      <invstOrSec>
        <name>Vanguard Intl Equi</name>
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        <name>Greenhaven Cont Cm</name>
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      <invstOrSec>
        <name>Pimco Etf Tr</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>Royce Value Trust, Inc.</name>
        <lei>254900NJE1W1YYKNVM16</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vanguard Bd Idx Fd</name>
        <lei>549300INE5BF80OGAZ51</lei>
        <title>VANGUARD TOTAL BOND MARKE</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Vanguard Index Fds</name>
        <lei>549300G6KNDK44WUN559</lei>
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        <name>JP Morgan Etf Trust</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corporation</name>
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        <name>Indexiq Etf Tr</name>
        <lei>549300RB5MLWJ1UN5M66</lei>
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        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES 20+ YEAR TREASURY</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AJ1407</title>
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        <name>Blackrock Cp High</name>
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        <name>NUSHARES ETF TRUST</name>
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        <name>Fidelity Covington Trust</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AJ1766</title>
        <cusip>3138AS6C1</cusip>
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        <name>Government National Mortgage Association</name>
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        </identifiers>
        <balance>664417.98000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>664417.98000000</valUSD>
        <pctVal>0.312163499297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AJ7689</title>
        <cusip>3138E0RK7</cusip>
        <identifiers>
          <isin value="US3138E0RK74"/>
        </identifiers>
        <balance>191906.77900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205287.33000000</valUSD>
        <pctVal>0.096450146177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MILESTONE TREASURY OBLIG-INS</name>
        <lei>N/A</lei>
        <title>MILESTONE TREASURY OBLIG-INS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="CASHCOLLREINV"/>
        </identifiers>
        <balance>0.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="REINVESTED COLLATERAL" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="25003800.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DREYFUS GOVERNMENT CASH MANAGEMENT</name>
        <lei>N/A</lei>
        <title>DREYFUS GOV'T CASH MGMT -INSTITUTIONAL CUSIP 262006208 DGCXX (#289)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="CASHCOLLREINV"/>
        </identifiers>
        <balance>0.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="REINVESTED COLLATERAL" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="669099.19000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-11-28</ncom:dateSigned>
      <ncom:nameOfApplicant>AdvisorOne Funds</ncom:nameOfApplicant>
      <ncom:signature>Brian Curley</ncom:signature>
      <ncom:signerName>Brian Curley</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
