<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001029068</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <seriesClassInfo>
        <seriesId>S000010757</seriesId>
        <classId>C000029725</classId>
        <classId>C000205637</classId>
      </seriesClassInfo>

    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>AdvisorOne Funds</regName>
      <regFileNumber>811-08037</regFileNumber>
      <regCik>0001029068</regCik>
      <regLei>549300UQR5ZY3PRGV592</regLei>
      <regStreet1>17605 WRIGHT STREET</regStreet1>
      <regCity>OMAHA</regCity>
      <regStateConditional regCountry="US" regState="US-NE"/>
      <regZipOrPostalCode>68130</regZipOrPostalCode>
      <regPhone>631-470-2600</regPhone>
      <seriesName>CLS Growth and Income Fund</seriesName>
      <seriesId>S000010757</seriesId>
      <seriesLei>54930050Y3WAGKFSC211</seriesLei>
      <repPdEnd>2020-04-30</repPdEnd>
      <repPdDate>2020-01-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>392433927.01</totAssets>
      <totLiabs>383790.63</totLiabs>
      <netAssets>392050136.38</netAssets>
      <assetsAttrMiscSec>0</assetsAttrMiscSec>
      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0</amtPayAftOneYrOther>
      <delayDeliv>0</delayDeliv>
      <standByCommit>0</standByCommit>
      <liquidPref>0</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <borrowers>
        <borrower aggrVal="236716" lei="T6FIZBDPKLYJKFCRVK44" name="UBS Securities LLC."/>
        <borrower aggrVal="4149563.43" lei="ZBUT11V806EZRVTWT807" name="J.P. Morgan Securities LLC"/>
        <borrower aggrVal="1202656" lei="549300CSX55MXZ47EI78" name="WEDBUSH SECURITIES INC"/>
        <borrower aggrVal="108007" lei="12UUJYTN7D3SW8KCSG25" name="CITADEL SECURITIES LLC"/>
        <borrower aggrVal="401730.24" lei="RCNB6OTYUAMMP879YW96" name="BNP Paribas Securities Corp."/>
        <borrower aggrVal="8800553.9" lei="8NAV47T0Y26Q87Y0QP81" name="BOFA SECURITIES INC"/>
        <borrower aggrVal="582494" lei="1V8Y6QCX6YMJ2OELII46" name="Credit Suisse Securities (USA) LLC"/>
        <borrower aggrVal="6314742.09" lei="9R7GPTSO7KV3UQJZQ078" name="Morgan Stanley &amp; Co. LLC"/>
        <borrower aggrVal="1059910" lei="549300RA02N3BNSWBV74" name="VIRTU AMERICAS LLC"/>
        <borrower aggrVal="497610" lei="AC28XWWI3WIBK2824319" name="Barclays Capital Inc."/>
        <borrower aggrVal="1232384" lei="549300ZBQI1JB1844X09" name="TD PRIME SERVICES LLC"/>
        <borrower aggrVal="2105450" lei="MBNUM2BPBDO7JBLYG310" name="Citigroup Global Markets Inc."/>
        <borrower aggrVal="3071543" lei="FOR8UP27PHTHYVLBNG30" name="Goldman, Sachs &amp; Co. LLC"/>
        <borrower aggrVal="82761" lei="9J6MBOOO7BECTDTUZW19" name="Deutsche Bank Securities Inc."/>
        <borrower aggrVal="1006992.52" lei="MP6I5ZYZBEU3UXPYFY54" name="HSBC BANK PLC"/>
        <borrower aggrVal="11347" lei="549300D83GR71RNG0O65" name="NATIONAL BANK FINANCIAL INC"/>
        <borrower aggrVal="782943" lei="7TK5RJIZDFROZCA6XF66" name="Mizuho Securities USA LLC."/>
      </borrowers>
      <aggregateCondition isNonCashCollateral="Y">
        <aggregateInfos>
          <aggregateInfo amt="1171568.87574650" collatrl="1257035.53583679">
            <invstCat>UST</invstCat>
          </aggregateInfo>
        </aggregateInfos>
      </aggregateCondition>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000029725" rtn1="1.17000000" rtn2="2.52000000" rtn3="-1.78000000"/>
          <monthlyTotReturn classId="C000205637" rtn1="1.17000000" rtn2="2.52000000" rtn3="-1.78000000"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="999487.19000000" netUnrealizedAppr="3814247.34000000"/>
        <othMon2 netRealizedGain="2973469.01000000" netUnrealizedAppr="4198026.58000000"/>
        <othMon3 netRealizedGain="2981838.94000000" netUnrealizedAppr="-9971299.04000000"/>
      </returnInfo>
      <mon1Flow redemption="-6574488.75000000" reinvestment="0.00000000" sales="4020395.54000000"/>
      <mon2Flow redemption="-19821338.44000000" reinvestment="10272366.68000000" sales="4939114.45000000"/>
      <mon3Flow redemption="-8826476.38000000" reinvestment="0.00000000" sales="3588529.22000000"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Schwab Strategic T</name>
        <lei>549300NAZEQOIX80E226</lei>
        <title>SCHWAB FUNDAMENTAL SMALL</title>
        <cusip>808524763</cusip>
        <identifiers>
          <isin value="US8085247638"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3856000.00000000</valUSD>
        <pctVal>0.983547674693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="102466"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Janus Detroit Street Trust</name>
        <lei>5493003MM7OCK5UJW595</lei>
        <title>JANUS HENDERSON SHORT DUR</title>
        <cusip>47103U886</cusip>
        <identifiers>
          <isin value="US47103U8861"/>
        </identifiers>
        <balance>173234.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8654770.64000000</valUSD>
        <pctVal>2.207567307567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES 3-7 YEAR TREASURY</title>
        <cusip>464288661</cusip>
        <identifiers>
          <isin value="US4642886612"/>
        </identifiers>
        <balance>17000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2177020.00000000</valUSD>
        <pctVal>0.555291223745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1100643.07"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES 1-3 YEAR TREASURY</title>
        <cusip>464287457</cusip>
        <identifiers>
          <isin value="US4642874576"/>
        </identifiers>
        <balance>93000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7916160.00000000</valUSD>
        <pctVal>2.019170321707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>DAVIS FUNDAMENTAL ETF TR</name>
        <lei>254900TFED1P6S2E2805</lei>
        <title>DAVIS SELECT WORLDWIDE ET</title>
        <cusip>23908L306</cusip>
        <identifiers>
          <isin value="US23908L3069"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2474000.00000000</valUSD>
        <pctVal>0.631041739417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="559888"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES 7-10 YEAR TREASUR</title>
        <cusip>464287440</cusip>
        <identifiers>
          <isin value="US4642874402"/>
        </identifiers>
        <balance>22000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2508880.00000000</valUSD>
        <pctVal>0.639938560706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="794290"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vaneck Vectors Etf Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>VANECK VECTORS PHARMACEUT</title>
        <cusip>92189F692</cusip>
        <identifiers>
          <isin value="US92189F6925"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6409000.00000000</valUSD>
        <pctVal>1.634739898110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="6435000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flexshares Trust</name>
        <lei>5493007FU2RQX77I4604</lei>
        <title>FLEXSHARES GLOBAL UPSTREA</title>
        <cusip>33939L407</cusip>
        <identifiers>
          <isin value="US33939L4077"/>
        </identifiers>
        <balance>470000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14692200.00000000</valUSD>
        <pctVal>3.747530898894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES GLOBAL HEALTHCARE</title>
        <cusip>464287325</cusip>
        <identifiers>
          <isin value="US4642873255"/>
        </identifiers>
        <balance>155000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10496600.00000000</valUSD>
        <pctVal>2.677361649946</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="903245"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ssga Active Etf Trust</name>
        <lei>549300MAXSRPQ75ICU67</lei>
        <title>SPDR DOUBLELINE TR TACT E</title>
        <cusip>78467V848</cusip>
        <identifiers>
          <isin value="US78467V8485"/>
        </identifiers>
        <balance>296922.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14748115.74000000</valUSD>
        <pctVal>3.761793294137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2105450"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fidelity Covington Trust</name>
        <lei>549300782HVYOIE6CE74</lei>
        <title>FIDELITY TOTAL BOND ETF</title>
        <cusip>316188309</cusip>
        <identifiers>
          <isin value="US3161883091"/>
        </identifiers>
        <balance>664963.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34930506.39000000</valUSD>
        <pctVal>8.909703925250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="188676"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FRANKLIN TEMPLETON ETF TR</name>
        <lei>549300UHXVPT5S43XV04</lei>
        <title>FRANKLIN FTSE CANADA ETF</title>
        <cusip>35473P827</cusip>
        <identifiers>
          <isin value="US35473P8279"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>263950.00000000</valUSD>
        <pctVal>0.067325572804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Spdr Series Trust</name>
        <lei>5493001XGU6MOBRXUU78</lei>
        <title>SPDR BBG BARC IG FLOATING</title>
        <cusip>78468R200</cusip>
        <identifiers>
          <isin value="US78468R2004"/>
        </identifiers>
        <balance>135000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4159350.00000000</valUSD>
        <pctVal>1.060922982556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>DBX ETF Trust</name>
        <lei>DNLQXYGHEZ10Q9SIK386</lei>
        <title>XTRACKERS HARVEST CSI 300</title>
        <cusip>233051879</cusip>
        <identifiers>
          <isin value="US2330518794"/>
        </identifiers>
        <balance>103500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2734470.00000000</valUSD>
        <pctVal>0.697479670648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="841966.45"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES EXPONENTIAL TECH</title>
        <cusip>46434V381</cusip>
        <identifiers>
          <isin value="US46434V3814"/>
        </identifiers>
        <balance>345000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14659050.00000000</valUSD>
        <pctVal>3.739075347697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>DAVIS FUNDAMENTAL ETF TR</name>
        <lei>254900TFED1P6S2E2805</lei>
        <title>DAVIS SELECT FINANCIAL ET</title>
        <cusip>23908L108</cusip>
        <identifiers>
          <isin value="US23908L1089"/>
        </identifiers>
        <balance>160400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3956618.88000000</valUSD>
        <pctVal>1.009212473826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Ishares Inc</name>
        <lei>549300MGJZCNMJLBAJ67</lei>
        <title>ISHARES MSCI TURKEY ETF</title>
        <cusip>464286715</cusip>
        <identifiers>
          <isin value="US4642867158"/>
        </identifiers>
        <balance>45000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1248750.00000000</valUSD>
        <pctVal>0.318517935366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>FIRST TR EXCHANGE TRADED FD VIII</name>
        <lei>549300NT36PJKGP5Y765</lei>
        <title>FIRST TRUST TCW OPP FIXED</title>
        <cusip>33740F805</cusip>
        <identifiers>
          <isin value="US33740F8059"/>
        </identifiers>
        <balance>380000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20045000.00000000</valUSD>
        <pctVal>5.112866478018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1230606"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES MSCI EAFE VALUE E</title>
        <cusip>464288877</cusip>
        <identifiers>
          <isin value="US4642888774"/>
        </identifiers>
        <balance>275000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13147750.00000000</valUSD>
        <pctVal>3.353588936710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Spdr Index Shs Fds</name>
        <lei>5493001XGU6MOBRXUU78</lei>
        <title>SPDR SOLACTIVE CANADA ETF</title>
        <cusip>78463X376</cusip>
        <identifiers>
          <isin value="US78463X3769"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4649377.50000000</valUSD>
        <pctVal>1.185914011644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="88011"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POWERSHARES ETF TRUST DYN LSR &amp; ENT</name>
        <lei>QPT4TMG79RF3UWNU0R52</lei>
        <title>INVESCO DYNAMIC BIOTECHNO</title>
        <cusip>46137V787</cusip>
        <identifiers>
          <isin value="US46137V7872"/>
        </identifiers>
        <balance>27000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1458904.50000000</valUSD>
        <pctVal>0.372121921311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Vaneck Vectors Etf Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>VANECK VECTORS J.P. MORGA</title>
        <cusip>92189H300</cusip>
        <identifiers>
          <isin value="US92189H3003"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2014800.00000000</valUSD>
        <pctVal>0.513913862804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES EDGE MSCI USA VAL</title>
        <cusip>46432F388</cusip>
        <identifiers>
          <isin value="US46432F3881"/>
        </identifiers>
        <balance>385200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33258168.00000000</valUSD>
        <pctVal>8.483141545897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>JP Morgan Etf Trust</name>
        <lei>5493001E1K1DVWDV2464</lei>
        <title>JPM DIVERSIFIED ALTERNATI</title>
        <cusip>46641Q803</cusip>
        <identifiers>
          <isin value="US46641Q8033"/>
        </identifiers>
        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3547500.00000000</valUSD>
        <pctVal>0.904858759330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Invesco Exchange Traded Fund Trust II</name>
        <lei>O540V2L4S174Y60FMD36</lei>
        <title>INVESCO FTSE RAFI EMERGIN</title>
        <cusip>46138E727</cusip>
        <identifiers>
          <isin value="US46138E7278"/>
        </identifiers>
        <balance>772800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15942864.00000000</valUSD>
        <pctVal>4.066537037127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Ssga Active Etf Trust</name>
        <lei>549300MAXSRPQ75ICU67</lei>
        <title>SPDR BLACKSTONE/GSO SEN L</title>
        <cusip>78467V608</cusip>
        <identifiers>
          <isin value="US78467V6083"/>
        </identifiers>
        <balance>210000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9765000.00000000</valUSD>
        <pctVal>2.490752863948</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3362744"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Etf Ser Solutions</name>
        <lei>5493008BB0X0GYS3UI50</lei>
        <title>SALT LOW TRUBETA US MARKE</title>
        <cusip>26922A164</cusip>
        <identifiers>
          <isin value="US26922A1640"/>
        </identifiers>
        <balance>6500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>189324.20000000</valUSD>
        <pctVal>0.048290813452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Schwab Strategic T</name>
        <lei>549300NAZEQOIX80E226</lei>
        <title>SCHWAB U.S. TIPS ETF</title>
        <cusip>808524870</cusip>
        <identifiers>
          <isin value="US8085248701"/>
        </identifiers>
        <balance>170381.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9853133.23000000</valUSD>
        <pctVal>2.513232955605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="817778"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ishares Inc</name>
        <lei>N/A</lei>
        <title>ISHARES MSCI RUSSIA ETF</title>
        <cusip>46434G798</cusip>
        <identifiers>
          <isin value="US46434G7988"/>
        </identifiers>
        <balance>87000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3616590.00000000</valUSD>
        <pctVal>0.922481505399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Ishares Inc</name>
        <lei>549300MGJZCNMJLBAJ67</lei>
        <title>ISHARES CORE MSCI EMERGIN</title>
        <cusip>46434G103</cusip>
        <identifiers>
          <isin value="US46434G1031"/>
        </identifiers>
        <balance>175200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8863368.00000000</valUSD>
        <pctVal>2.260774114719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Spdr Series Trust</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR S&amp;P HOMEBUILDERS ETF</title>
        <cusip>78464A888</cusip>
        <identifiers>
          <isin value="US78464A8889"/>
        </identifiers>
        <balance>80000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3758400.00000000</valUSD>
        <pctVal>0.958652899525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Invesco Exchange Traded Fund Trust II</name>
        <lei>O540V2L4S174Y60FMD36</lei>
        <title>INVESCO EMERGING MARKETS</title>
        <cusip>46138E784</cusip>
        <identifiers>
          <isin value="US46138E7849"/>
        </identifiers>
        <balance>357060.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10658241.00000000</valUSD>
        <pctVal>2.718591325694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="401730.24"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES TIPS BOND ETF</title>
        <cusip>464287176</cusip>
        <identifiers>
          <isin value="US4642871762"/>
        </identifiers>
        <balance>12300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1464438.00000000</valUSD>
        <pctVal>0.373533347933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>POWERSHARES ETF TRUST DYN LSR &amp; ENT</name>
        <lei>QPT4TMG79RF3UWNU0R52</lei>
        <title>INVESCO S&amp;P 500 EQUAL WEI</title>
        <cusip>46137V332</cusip>
        <identifiers>
          <isin value="US46137V3327"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3263602.50000000</valUSD>
        <pctVal>0.832445189315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Schwab Strategic T</name>
        <lei>549300NAZEQOIX80E226</lei>
        <title>SCHWAB FUNDAMENTAL EM L/C</title>
        <cusip>808524730</cusip>
        <identifiers>
          <isin value="US8085247307"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>823200.00000000</valUSD>
        <pctVal>0.209973144659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Ishares Gold Trust</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES GOLD TRUST</title>
        <cusip>464285105</cusip>
        <identifiers>
          <isin value="US4642851053"/>
        </identifiers>
        <balance>225000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3413250.00000000</valUSD>
        <pctVal>0.870615690002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Indexiq Etf Tr</name>
        <lei>549300RB5MLWJ1UN5M66</lei>
        <title>IQ MERGER ARBITRAGE ETF</title>
        <cusip>45409B800</cusip>
        <identifiers>
          <isin value="US45409B8000"/>
        </identifiers>
        <balance>146874.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4892372.94000000</valUSD>
        <pctVal>1.247894717031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1396538"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Money Market</name>
        <lei>25490005VWJDWX717014</lei>
        <title>FEDERATED GOVERNMENT OBL</title>
        <cusip>60934N104</cusip>
        <identifiers>
          <isin value="US60934N1046"/>
        </identifiers>
        <balance>3805296.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3805296.08000000</valUSD>
        <pctVal>0.970614655343</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>John Hancock Exchange-Traded Fund Trust</name>
        <lei>5493009IOCA1ISM4Y592</lei>
        <title>JOHN HANCOCK MULTI FACT F</title>
        <cusip>47804J404</cusip>
        <identifiers>
          <isin value="US47804J4040"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2441490.00000000</valUSD>
        <pctVal>0.622749432647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="776554.9"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LATTICE STRATEGIES TR</name>
        <lei>549300X74R262ISYFF63</lei>
        <title>HARTFORD MULTIFACTOR DEVE</title>
        <cusip>518416102</cusip>
        <identifiers>
          <isin value="US5184161025"/>
        </identifiers>
        <balance>230000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6605600.00000000</valUSD>
        <pctVal>1.684886545632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="2360010"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Greenhaven Cont Cm</name>
        <lei>549300SEVJBU47TE8855</lei>
        <title>WISDOMTREE CONTINUOUS COM</title>
        <cusip>97718W108</cusip>
        <identifiers>
          <isin value="US97718W1080"/>
        </identifiers>
        <balance>205000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3608000.00000000</valUSD>
        <pctVal>0.920290459101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Pimco Etf Tr</name>
        <lei>N/A</lei>
        <title>PIMCO ACTIVE BOND EXCHANG</title>
        <cusip>72201R775</cusip>
        <identifiers>
          <isin value="US72201R7750"/>
        </identifiers>
        <balance>117500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12920300.00000000</valUSD>
        <pctVal>3.295573397652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4041744"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global X Fds</name>
        <lei>5493003RA4QUTSYF1N15</lei>
        <title>GLOBAL X FINTECH ETF</title>
        <cusip>37954Y814</cusip>
        <identifiers>
          <isin value="US37954Y8140"/>
        </identifiers>
        <balance>101584.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3235927.84000000</valUSD>
        <pctVal>0.825386229903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Vanguard Intl Equi</name>
        <lei>549300UR5XWDVDO7NP96</lei>
        <title>VANGUARD FTSE EUROPE ETF</title>
        <cusip>922042874</cusip>
        <identifiers>
          <isin value="US9220428745"/>
        </identifiers>
        <balance>211500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12011085.00000000</valUSD>
        <pctVal>3.063660457028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>First Trust Exchange-Traded Fund VII</name>
        <lei>549300ESI5HR7KPXFL47</lei>
        <title>FIRST TRUST GLOBAL TACTIC</title>
        <cusip>33739H101</cusip>
        <identifiers>
          <isin value="US33739H1014"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3524000.00000000</valUSD>
        <pctVal>0.898864628013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Invesco Db Commodty Indx Trackng Fd</name>
        <lei>549300HIW8J5DIIYYM41</lei>
        <title>INVESCO DB COMMODITY INDE</title>
        <cusip>46138B103</cusip>
        <identifiers>
          <isin value="US46138B1035"/>
        </identifiers>
        <balance>490000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7144200.00000000</valUSD>
        <pctVal>1.822266934011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Pimco Etf Tr</name>
        <lei>N/A</lei>
        <title>PIMCO ENHANCED SHORT MATU</title>
        <cusip>72201R833</cusip>
        <identifiers>
          <isin value="US72201R8337"/>
        </identifiers>
        <balance>204257.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20819916.01000000</valUSD>
        <pctVal>5.310523853464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1202656"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES EDGE MSCI USA QUA</title>
        <cusip>46432F339</cusip>
        <identifiers>
          <isin value="US46432F3394"/>
        </identifiers>
        <balance>87613.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8788460.03000000</valUSD>
        <pctVal>2.241667382429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Select Sector Spdr</name>
        <lei>5493008JJKIPMEX3CO91</lei>
        <title>FINANCIAL SELECT SECTOR S</title>
        <cusip>81369Y605</cusip>
        <identifiers>
          <isin value="US81369Y6059"/>
        </identifiers>
        <balance>50607.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1516185.72000000</valUSD>
        <pctVal>0.386732608742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Invesco Exchange Traded Fund Trust II</name>
        <lei>549300J84F1VGX03MG06</lei>
        <title>INVESCO OPTIMUM YIELD DIV</title>
        <cusip>46090F100</cusip>
        <identifiers>
          <isin value="US46090F1003"/>
        </identifiers>
        <balance>1015000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15356950.00000000</valUSD>
        <pctVal>3.917088294318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>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="45546900" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-02-28</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>
  <documents>XXXX</documents>
</edgarSubmission>
