485BPOS

As filed with the Securities and Exchange Commission on August 10, 2018

File Nos. 333-57548 and 811-10319

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933		[X]
Pre-Effective Amendment No.		[   ]
Post-Effective Amendment No.	70	[X]

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940		[X]
Amendment No.	71	[X]

USA MUTUALS

(Exact Name of Registrant as Specified in Charter)

700 N. Pearl Street, Suite 900

Dallas, Texas 75201

(Address of Principal Executive Offices) (Zip Code)

(Registrant’s Telephone Number, including Area Code) (800) 688-8257

Emily R. Enslow

U.S. Bancorp Fund Services, LLC

615 E. Michigan Street, 2nd Floor

Milwaukee, Wisconsin  53202

(414) 765-6872

(Name and Address of Agent for Service)

Copies to:

Carol A. Gehl, Esq.

Godfrey & Kahn, S.C.

833 East Michigan Street, Suite 1800

Milwaukee, Wisconsin 53202

(414) 273-3500

It is proposed that this filing will become effective (check appropriate box)

[X]	Immediately upon filing pursuant to Rule 485(b).
[   ]	on (date) pursuant to Rule 485(b).
[   ]	on (date) pursuant to Rule 485(a)(1).
[   ]	60 days after filing pursuant to Rule 485(a)(1).
[   ]	75 days after filing pursuant to Rule 485(a)(2).
[   ]	on (date) pursuant to Rule 485(a)(2).

If appropriate, check the following box:

[   ] This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

Explanatory Note: This PEA No. 70 hereby incorporates Parts A, B and C from the Fund’s PEA No. 69 on Form N-1A filed July 26, 2018.  This PEA No. 70 is filed for the sole purpose of submitting the XBRL exhibit for the risk/return summary first provided in PEA No. 69.

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that this Post-Effective Amendment No. 70 to its Registration Statement meets all of the requirements for effectiveness pursuant to Rule 485(b) of the Securities Act of 1933, as amended, and the Registrant has duly caused this Post-Effective Amendment No. 70 to its Registration Statement on Form N-1A to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Milwaukee and State of Wisconsin, on the 10^th day of August, 2018.

USA MUTUALS (Registrant)

By:  /s/ Michael N. Loukas                     

        Michael N. Loukas

        President

Pursuant to the requirements of the Securities Act of 1933, as amended, this Post-Effective Amendment No. 70 to its Registration Statement has been signed below on August 10, 2018, by the following persons in the capacities indicated.

/s/ Michael N. Loukas                                    Michael N. Loukas	President
/s/ Richard A. Sapio*                                      Richard A. Sapio	Chairman and Trustee
/s/ Dr. Michael D. Akers*                              Dr. Michael D. Akers	Lead Independent Trustee
/s/ Gary A. Drska*                                           Gary A. Drska	Independent Trustee
* By /s Michael N. Loukas                            Michael N. Loukas, President *Attorney-in-Fact pursuant to Power of Attorney previously filed with Registrant’s Post-Effective Amendment No. 69 to its Registration Statement on Form N-1A with the SEC on July 26, 2018, and is incorporated by reference.

EXHIBIT INDEX

Exhibit	Exhibit No.
Instance Document	EX-101.INS
Schema Document	EX-101.SCH
Calculation Linkbase Document	EX-101.CAL
Definition Linkbase Document	EX-101.DEF
Label Linkbase Document	EX-101.LAB
Presentation Linkbase Document	EX-101.PRE

XML

Document and Entity Information	Total
Prospectus:
Document Type	485BPOS
Document Period End Date	Mar. 31, 2018
Registrant Name	USA MUTUALS
Central Index Key	0001137095
Amendment Flag	false
Document Creation Date	Jul. 26, 2018
Document Effective Date	Jul. 27, 2018
Prospectus Date	Jul. 27, 2018
USA Mutuals Vice Fund | USA Mutuals Vice Fund - Investor Class
Prospectus:
Trading Symbol	VICEX
USA Mutuals Vice Fund | USA Mutuals Vice Fund - Class A
Prospectus:
Trading Symbol	VICAX
USA Mutuals Vice Fund | USA Mutuals Vice Fund - Class C
Prospectus:
Trading Symbol	VICCX
USA Mutuals Vice Fund | USA Mutuals Vice Fund - Institutional Class
Prospectus:
Trading Symbol	VICVX
USA Mutuals Navigator Fund | USA Mutuals Navigator Fund - Institutional Class Shares
Prospectus:
Trading Symbol	UNAVX
USA Mutuals Navigator Fund | USA Mutuals Navigator Fund - Class Z Shares
Prospectus:
Trading Symbol	ZNAVX
USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund | USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares
Prospectus:
Trading Symbol	QUANX

XML

USA Mutuals Vice Fund

USA Mutuals Vice Fund

Investment Objective

The investment objective of the USA Mutuals Vice Fund (the “Vice Fund” or the “Fund”) is long-term growth of capital.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Vice Fund.  You may qualify for sales charge discounts on Class A shares if you or your family invest, or agree to invest in the future, at least $50,000 in the Fund’s Class A shares.  More information about these and other discounts is available from your financial professional and under “Shareholder Information—Sales Charge Reductions and Waivers for the Vice Fund” beginning on page 31 of this Prospectus and “Purchase and Redemption of Shares—Class A Sales Charge Waivers” beginning on page 42 of the Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - USA Mutuals Vice Fund	USA Mutuals Vice Fund - Institutional Class	USA Mutuals Vice Fund - Investor Class	USA Mutuals Vice Fund - Class A	USA Mutuals Vice Fund - Class C
Maximum Front-End Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price)	none	none	5.75%	none
Maximum Contingent Deferred Sales Charge (Load) (as a percentage of the shares redeemed within 12 months of purchase)	none	none	none	1.00%
Maximum Contingent Deferred Sales Charge (Load) (as a percentage of purchases of $1,000,000 or more that are redeemed within 18 months of purchase)	none	none	1.00%	none

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

Annual Fund Operating Expenses - USA Mutuals Vice Fund		USA Mutuals Vice Fund - Institutional Class	USA Mutuals Vice Fund - Investor Class	USA Mutuals Vice Fund - Class A		USA Mutuals Vice Fund - Class C
Management Fees		0.95%	0.95%	0.95%		0.95%
Distribution (12b-1) Fees		none	0.25%	0.25%	[1]	1.00%
Other Expenses		0.33%	0.33%	0.33%		0.33%
Total Annual Fund Operating Expenses		1.28%	1.53%	1.53%		2.28%
Less: Fee Waiver and/or Expense Reimbursement		(0.04%)	(0.04%)	(0.04%)		(0.04%)
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement	[2]	1.24%	1.49%	1.49%		2.24%

Example

The following Example is intended to help you compare the cost of investing in the Vice Fund with the cost of investing in other mutual funds.  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, that you reinvest all distributions, and that the Fund’s operating expenses remain the same each year.  The fee waiver/expense reimbursement arrangement discussed in the table above is reflected only through July 31, 2019.

Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example - USA Mutuals Vice Fund - USD ($)	One Year	Three Years	Five Years	Ten Years
USA Mutuals Vice Fund - Institutional Class	126	402	698	1,542
USA Mutuals Vice Fund - Investor Class	152	479	830	1,820
USA Mutuals Vice Fund - Class A	718	1,027	1,358	2,290
USA Mutuals Vice Fund - Class C	327	709	1,216	2,612

Expense Example No Redemption	One Year	Three Years	Five Years	Ten Years
USA Mutuals Vice Fund | USA Mutuals Vice Fund - Class C | USD ($)	227	709	1,216	2,612

Portfolio Turnover

The Vice Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio).  A higher portfolio turnover rate may generate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These transaction costs, and potentially higher taxes, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.  During the most recent fiscal year, the Fund’s portfolio turnover rate was 19.53% of the average value of its portfolio.

Principal Investment Strategies

The Vice Fund, a diversified investment company, invests primarily in equity securities (i.e., common stocks, preferred stocks and securities convertible into common stocks) of small, medium and large capitalization companies, which include U.S. issuers and foreign issuers, including those whose securities are traded in foreign jurisdictions, as well as those whose securities are traded in the U.S. as American Depositary Receipts (“ADRs”).

Under normal market conditions, the Vice Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of companies that derive a significant portion of their revenues from a group of vice industries that includes the alcoholic beverages, defense/aerospace, gaming and tobacco industries.  The Fund will concentrate at least 25% of its net assets in this group of four vice industries (but no more than 80% of its net assets in any single industry).

The Vice Fund will also participate in other strategies in an attempt to generate incremental returns, including short selling of securities and certain options strategies.  Use of these strategies may vary depending upon market and other conditions, and may be limited by regulatory and other constraints to which the Fund is subject.

For cash management purposes or due to a lack of suitable investment opportunities, the Vice Fund may hold up to 20% of its net assets in cash or similar short-term, high‑quality debt securities.  For temporary defensive purposes, the Fund may invest up to 100% of its total assets in high-quality, short-term debt securities and money market instruments.  These short‑term debt securities and money market instruments include commercial paper, certificates of deposit, bankers’ acceptances, shares of money market mutual funds, U.S. Government securities and repurchase agreements.

Principal Risks

The risks associated with an investment in the Vice Fund can increase during times of significant market volatility.  Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time. Investments in the Fund are subject to the following principal risks:

· Recent Market Events Risk.  U.S. and international markets have experienced significant volatility in recent years.  As a result of this significant volatility, many of the risks discussed herein associated with an investment in the Fund may be increased.  Continuing market volatility may have adverse effects on the Fund.

· Equity Risk.  Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change.

· Stock Market Risk.  Certain stocks selected for the Vice Fund’s portfolio may decline in value more than the overall stock market.  Investments are subject to market risk, which may cause the value of the Fund’s investments to decline.

· Management Risk.  Investment strategies employed by the Advisor in selecting investments for the Vice Fund may not result in an increase in the value of your investment or in overall performance equal to other investments.

· Asset Allocation Risk.  Asset allocation to a particular strategy may not reflect actual market movement or the effect of economic conditions.

· Sector/Industry Concentration Risk.  The Vice Fund concentrates at least 25% of its net assets in the group of four vice industries identified in this Prospectus and therefore may be subject to the risks affecting those industries, including the risk that the securities of companies within those industries will underperform due to adverse economic conditions, regulatory or legislative changes or increased competition affecting those industries, more than would a fund that invests in a wide variety of industries.

· Small- and Mid-Capitalization Companies Risk.  Investing in small- to mid-capitalization companies whose performance can be more volatile and who face greater risk of business failure could increase the volatility of the Vice Fund’s portfolio.  The Fund may have difficulty selling small- to mid-capitalization securities during a down market due to lower liquidity.

· Large-Capitalization Companies Risk.  Large-capitalization companies may be unable to respond quickly to new competitive challenges such as changes in consumer tastes or innovative smaller competitors and may not be able to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.

· Government-Sponsored Entities Risk.  There is no assurance the U.S. Government will provide financial support on securities issued or guaranteed by the U.S. Government, its agencies and instrumentalities.

· Foreign and Emerging Market Securities Risk .  Political, social or economic instability in foreign developed and emerging markets may cause the value of the Vice Fund’s investments in foreign securities to decline.

· Leverage Risk . Leveraging may exaggerate the effect on net asset value of any increase or decrease in the market value of the Vice Fund’s portfolio.

· Convertible Securities Risk . Convertible securities are subject to many of the same risks as regular fixed-income securities, including the risk that when market interest rates rise, the value of the convertible security falls, and in the event of a liquidation of the issuing company, holders of convertible securities generally would be paid after the company’s creditors but before the company’s common shareholders.

· ADR Risk . Unsponsored ADRs held by the Vice Fund are frequently under no obligation to distribute shareholder communications received from the underlying issuer, and there is less information available about unsponsored ADRs than sponsored ADRs; unsponsored ADRs are also not obligated to pass through voting rights to the Fund.

· Currency Risk . Currency-rate fluctuations due to political, social or economic instability may cause the value of the Vice Fund’s investments to decline.

· Derivatives Risk . Investing in derivatives, specifically call and put options, for hedging purposes and to reduce Vice Fund volatility, as well as direct investment may subject the Fund to losses if the derivatives do not perform as expected.

· Short Sale Risk .  If the value of a security sold short increases prior to the scheduled delivery date the Vice Fund will lose money, since the Fund must pay more for the security than it has received from the purchaser in the short sale.

· Options Risk.  Options may be more volatile than direct investments in the underlying securities, may involve additional costs, may involve a small initial investment relative to the risk assumed, and may be less liquid than investments directly in the underlying securities.

· Liquidity Risk.  The securities of many companies with small- and mid-size capitalizations may have less “float” (the number of shares that normally trade on a given day) and less interest in the market and therefore are subject to liquidity risk.  Certain securities may be difficult or impossible to sell at the time and price that the Vice Fund would like to sell.

· Cybersecurity Risk.  With the increased use of technologies such as the Internet to conduct business, the Vice Fund is susceptible to operational, information security, and related risks; cyber incidents affecting the Fund or its service providers may cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs.

Performance

The performance information demonstrates the risks of investing in the Vice Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns compare with those of a broad measure of market performance.  The information shown assumes reinvestment of distributions.  Remember, the Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.  Updated performance information is available through the Fund’s website at www.usamutuals.com.

Vice Fund - Investor Class Shares(1) Calendar Year Returns as of December 31

⁽¹⁾ The returns shown in the bar chart are for the Vice Fund’s Investor Class shares.  Institutional Class, Class A and Class C shares have substantially similar returns because the Fund’s Institutional Class, Investor Class, Class A and Class C shares are invested in the same portfolio of securities and the annual returns differ only to the extent that the classes do not have the same expenses.

The calendar year-to-date return for the Vice Fund’s Investor Class shares as of June 30, 2018 was -4.88%.  During the period shown in the bar chart, the best performance for a quarter was 14.22% (for the quarter endedJune 30, 2009).  The worst performance was -20.12% (for the quarter ended December 31, 2008).

Average Annual Total Returns (For the periods ended December 31, 2017 )

Average Annual Returns - USA Mutuals Vice Fund	Label	Average Annual Returns, 1 Year		Average Annual Returns, 5 Years		Average Annual Returns, 10 Years		Average Annual Returns, Since Inception		Average Annual Returns, Inception Date
USA Mutuals Vice Fund - Investor Class	Investor Class Return Before Taxes	25.72%	[1]	13.45%	[1]	6.97%	[1]	10.70%	[1]	Aug. 30, 2002
USA Mutuals Vice Fund - Institutional Class	Institutional Class Return Before Taxes	26.08%	[2]		[2]		[2]	9.42%	[2]	Apr. 01, 2014
USA Mutuals Vice Fund - Class A	Class A Return Before Taxes	18.49%	[2]	12.11%	[2]		[2]	13.82%	[2]	Apr. 01, 2014
USA Mutuals Vice Fund - Class C	Class C Return Before Taxes	23.81%	[3]	12.60%	[3]		[3]	14.09%	[3]	Dec. 08, 2011
After Taxes on Distributions | USA Mutuals Vice Fund - Investor Class	Investor Class Return After Taxes on Distributions	24.63%	[1]	12.03%	[1]	6.20%	[1]	10.11%	[1]
After Taxes on Distributions and Sale of Fund Shares | USA Mutuals Vice Fund - Investor Class	Investor Class Return After Taxes on Distributions and Sale of Fund Shares	15.15%	[1]	10.49%	[1]	5.47%	[1]	9.06%	[1]
S&P 500 Index® (reflects no deductions for fees, expenses or taxes)	S&P 500 Index® (reflects no deductions for fees, expenses or taxes)	21.83%		15.79%		8.50%		9.45%		Aug. 30, 2002

After-tax returns are shown for Investor Class shares and will vary for Institutional Class, Class A and Class C shares.  After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect and do not reflect the impact of state and local taxes.  Actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).

[1] The Vice Fund has adopted a distribution plan pursuant to Rule 12b-1 (the "Rule 12b-1 Plan") under the Investment Company Act of 1940, as amended (the "1940 Act"). Under the Rule 12b-1 Plan, the Fund may pay an annual Rule 12b-1 distribution fee of up to 0.50% for Class A shares. For the 12-month period covered by this Prospectus, the Fund's Board of Trustees (the "Board of Trustees") has authorized a Rule 12b-1 distribution fee of only 0.25% for Class A shares.

[2] USA Mutuals Advisors, Inc. (the "Advisor"), the Vice Fund's investment advisor, has contractually agreed to limit the Fund's total annual fund operating expenses (exclusive of front-end or contingent deferred loads, shareholder servicing plan fees, taxes, interest and dividends on short positions, brokerage, acquired fund fees and expenses, extraordinary expenses and class specific expenses like distribution (12b-1) fees (collectively, "Excluded Expenses")) to 1.24% of average net assets of the Fund through July 31, 2019, with such renewal terms of one year, each measured from the date of renewal, as may be approved by the Board of Trustees, unless either the Board of Trustees or the Advisor terminates the agreement prior to such renewal. To the extent the Fund incurs Excluded Expenses, Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement may be greater than 1.24%. The current term of the agreement may only be terminated by the Board of Trustees of the Trust. The Advisor may request recoupment of previously waived fees and paid expenses from the Fund for three years from the date such fees and expenses were waived or paid by the Advisor, subject to the operating expense limitation agreement, if such reimbursement will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the waiver and/or expense payment; or (2) the expense limitation in place at the time of the recoupment.

[1] Inception date 8/30/2002.

[2] Inception date 4/1/2014.

[3] Inception date 12/8/2011.

XML

Label

Element

Value

USA Mutuals Vice Fund

Risk/Return:

rr_RiskReturnAbstract

Risk/Return [Heading]

rr_RiskReturnHeading

USA Mutuals Vice Fund

Objective [Heading]

rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The investment objective of the USA Mutuals Vice Fund (the “Vice Fund” or the “Fund”) is long-term growth of capital.

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 Vice Fund.  You may qualify for sales charge discounts on Class A shares if you or your family invest, or agree to invest in the future, at least $50,000 in the Fund’s Class A shares.  More information about these and other discounts is available from your financial professional and under “Shareholder Information—Sales Charge Reductions and Waivers for the Vice Fund” beginning on page 31 of this Prospectus and “Purchase and Redemption of Shares—Class A Sales Charge Waivers” beginning on page 42 of the Statement of Additional Information.

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)

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

Jul. 31, 2019

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The Vice Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio).  A higher portfolio turnover rate may generate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These transaction costs, and potentially higher taxes, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.  During the most recent fiscal year, the Fund’s portfolio turnover rate was 19.53% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

19.53%

Expense Example [Heading]

rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

The following Example is intended to help you compare the cost of investing in the Vice Fund with the cost of investing in other mutual funds.  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, that you reinvest all distributions, and that the Fund’s operating expenses remain the same each year.  The fee waiver/expense reimbursement arrangement discussed in the table above is reflected only through July 31, 2019.

Expense Example by, Year, Caption [Text]

rr_ExpenseExampleByYearCaption

Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading]

rr_StrategyHeading

Principal Investment Strategies

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

The Vice Fund, a diversified investment company, invests primarily in equity securities (i.e., common stocks, preferred stocks and securities convertible into common stocks) of small, medium and large capitalization companies, which include U.S. issuers and foreign issuers, including those whose securities are traded in foreign jurisdictions, as well as those whose securities are traded in the U.S. as American Depositary Receipts (“ADRs”).

Under normal market conditions, the Vice Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of companies that derive a significant portion of their revenues from a group of vice industries that includes the alcoholic beverages, defense/aerospace, gaming and tobacco industries.  The Fund will concentrate at least 25% of its net assets in this group of four vice industries (but no more than 80% of its net assets in any single industry).

The Vice Fund will also participate in other strategies in an attempt to generate incremental returns, including short selling of securities and certain options strategies.  Use of these strategies may vary depending upon market and other conditions, and may be limited by regulatory and other constraints to which the Fund is subject.

For cash management purposes or due to a lack of suitable investment opportunities, the Vice Fund may hold up to 20% of its net assets in cash or similar short-term, high‑quality debt securities.  For temporary defensive purposes, the Fund may invest up to 100% of its total assets in high-quality, short-term debt securities and money market instruments.  These short‑term debt securities and money market instruments include commercial paper, certificates of deposit, bankers’ acceptances, shares of money market mutual funds, U.S. Government securities and repurchase agreements.

Risk [Heading]

rr_RiskHeading

Principal Risks

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

The risks associated with an investment in the Vice Fund can increase during times of significant market volatility.  Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time. Investments in the Fund are subject to the following principal risks:

· Recent Market Events Risk.  U.S. and international markets have experienced significant volatility in recent years.  As a result of this significant volatility, many of the risks discussed herein associated with an investment in the Fund may be increased.  Continuing market volatility may have adverse effects on the Fund.

· Equity Risk.  Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change.

· Stock Market Risk.  Certain stocks selected for the Vice Fund’s portfolio may decline in value more than the overall stock market.  Investments are subject to market risk, which may cause the value of the Fund’s investments to decline.

· Management Risk.  Investment strategies employed by the Advisor in selecting investments for the Vice Fund may not result in an increase in the value of your investment or in overall performance equal to other investments.

· Asset Allocation Risk.  Asset allocation to a particular strategy may not reflect actual market movement or the effect of economic conditions.

· Sector/Industry Concentration Risk.  The Vice Fund concentrates at least 25% of its net assets in the group of four vice industries identified in this Prospectus and therefore may be subject to the risks affecting those industries, including the risk that the securities of companies within those industries will underperform due to adverse economic conditions, regulatory or legislative changes or increased competition affecting those industries, more than would a fund that invests in a wide variety of industries.

· Small- and Mid-Capitalization Companies Risk.  Investing in small- to mid-capitalization companies whose performance can be more volatile and who face greater risk of business failure could increase the volatility of the Vice Fund’s portfolio.  The Fund may have difficulty selling small- to mid-capitalization securities during a down market due to lower liquidity.

· Large-Capitalization Companies Risk.  Large-capitalization companies may be unable to respond quickly to new competitive challenges such as changes in consumer tastes or innovative smaller competitors and may not be able to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.

· Government-Sponsored Entities Risk.  There is no assurance the U.S. Government will provide financial support on securities issued or guaranteed by the U.S. Government, its agencies and instrumentalities.

· Foreign and Emerging Market Securities Risk .  Political, social or economic instability in foreign developed and emerging markets may cause the value of the Vice Fund’s investments in foreign securities to decline.

· Leverage Risk . Leveraging may exaggerate the effect on net asset value of any increase or decrease in the market value of the Vice Fund’s portfolio.

· Convertible Securities Risk . Convertible securities are subject to many of the same risks as regular fixed-income securities, including the risk that when market interest rates rise, the value of the convertible security falls, and in the event of a liquidation of the issuing company, holders of convertible securities generally would be paid after the company’s creditors but before the company’s common shareholders.

· ADR Risk . Unsponsored ADRs held by the Vice Fund are frequently under no obligation to distribute shareholder communications received from the underlying issuer, and there is less information available about unsponsored ADRs than sponsored ADRs; unsponsored ADRs are also not obligated to pass through voting rights to the Fund.

· Currency Risk . Currency-rate fluctuations due to political, social or economic instability may cause the value of the Vice Fund’s investments to decline.

· Derivatives Risk . Investing in derivatives, specifically call and put options, for hedging purposes and to reduce Vice Fund volatility, as well as direct investment may subject the Fund to losses if the derivatives do not perform as expected.

· Short Sale Risk .  If the value of a security sold short increases prior to the scheduled delivery date the Vice Fund will lose money, since the Fund must pay more for the security than it has received from the purchaser in the short sale.

· Options Risk.  Options may be more volatile than direct investments in the underlying securities, may involve additional costs, may involve a small initial investment relative to the risk assumed, and may be less liquid than investments directly in the underlying securities.

· Liquidity Risk.  The securities of many companies with small- and mid-size capitalizations may have less “float” (the number of shares that normally trade on a given day) and less interest in the market and therefore are subject to liquidity risk.  Certain securities may be difficult or impossible to sell at the time and price that the Vice Fund would like to sell.

· Cybersecurity Risk.  With the increased use of technologies such as the Internet to conduct business, the Vice Fund is susceptible to operational, information security, and related risks; cyber incidents affecting the Fund or its service providers may cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs.

Risk Lose Money [Text]

rr_RiskLoseMoney

Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time.

Bar Chart and Performance Table [Heading]

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Performance

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

The performance information demonstrates the risks of investing in the Vice Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns compare with those of a broad measure of market performance.  The information shown assumes reinvestment of distributions.  Remember, the Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.  Updated performance information is available through the Fund’s website at www.usamutuals.com.

Performance Information Illustrates Variability of Returns [Text]

rr_PerformanceInformationIllustratesVariabilityOfReturns

The performance information demonstrates the risks of investing in the Vice Fund by showing changes in the Fund’s performance from year to year and by showing how the Fund’s average annual returns compare with those of a broad measure of market performance.

Performance Availability Website Address [Text]

rr_PerformanceAvailabilityWebSiteAddress

www.usamutuals.com

Performance Past Does Not Indicate Future [Text]

rr_PerformancePastDoesNotIndicateFuture

Remember, the Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.

Bar Chart [Heading]

rr_BarChartHeading

Vice Fund - Investor Class Shares(1) Calendar Year Returns as of December 31

Bar Chart Footnotes [Text Block]

rr_BarChartFootnotesTextBlock

⁽¹⁾ The returns shown in the bar chart are for the Vice Fund’s Investor Class shares.  Institutional Class, Class A and Class C shares have substantially similar returns because the Fund’s Institutional Class, Investor Class, Class A and Class C shares are invested in the same portfolio of securities and the annual returns differ only to the extent that the classes do not have the same expenses.

Bar Chart Closing [Text Block]

rr_BarChartClosingTextBlock

The calendar year-to-date return for the Vice Fund’s Investor Class shares as of June 30, 2018 was -4.88%.  During the period shown in the bar chart, the best performance for a quarter was 14.22% (for the quarter endedJune 30, 2009).  The worst performance was -20.12% (for the quarter ended December 31, 2008).

Year to Date Return, Label

rr_YearToDateReturnLabel

calendar year-to-date return

Bar Chart, Year to Date Return, Date

rr_BarChartYearToDateReturnDate

Jun. 30, 2018

Bar Chart, Year to Date Return

rr_BarChartYearToDateReturn

(4.88%)

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

best performance

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Jun. 30, 2009

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

14.22%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

worst performance

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Dec. 31, 2008

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(20.12%)

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deductions for fees, expenses or taxes)

Performance Table Uses Highest Federal Rate

rr_PerformanceTableUsesHighestFederalRate

After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

rr_PerformanceTableNotRelevantToTaxDeferred

Actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).

Performance Table One Class of after Tax Shown [Text]

rr_PerformanceTableOneClassOfAfterTaxShown

After-tax returns are shown for Investor Class shares and will vary for Institutional Class, Class A and Class C shares.

Performance Table Closing [Text Block]

rr_PerformanceTableClosingTextBlock

After-tax returns are shown for Investor Class shares and will vary for Institutional Class, Class A and Class C shares.  After-tax returns are calculated using the historical highest individual federal marginal income tax rates in effect and do not reflect the impact of state and local taxes.  Actual after-tax returns depend on your tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).

Caption

rr_AverageAnnualReturnCaption

Average Annual Total Returns (For the periods ended December 31, 2017 )

USA Mutuals Vice Fund | S&P 500 Index® (reflects no deductions for fees, expenses or taxes)

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

S&P 500 Index® (reflects no deductions for fees, expenses or taxes)

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

21.83%

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

15.79%

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

8.50%

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

9.45%

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Aug. 30, 2002

USA Mutuals Vice Fund | USA Mutuals Vice Fund - Institutional Class

Risk/Return:

rr_RiskReturnAbstract

Maximum Front-End Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of the shares redeemed within 12 months of purchase)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of purchases of $1,000,000 or more that are redeemed within 18 months of purchase)

rr_MaximumDeferredSalesChargeOverOther

none

Management Fees

rr_ManagementFeesOverAssets

0.95%

Distribution (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

Other Expenses

rr_OtherExpensesOverAssets

0.33%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

1.28%

Less: Fee Waiver and/or Expense Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.04%)

Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement

rr_NetExpensesOverAssets

1.24%

^[1]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 126

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

402

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

698

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 1,542

Label

rr_AverageAnnualReturnLabel

Institutional Class Return Before Taxes

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

26.08%

^[2]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

^[2]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

^[2]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

9.42%

^[2]

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Apr. 01, 2014

USA Mutuals Vice Fund | USA Mutuals Vice Fund - Investor Class

Risk/Return:

rr_RiskReturnAbstract

Maximum Front-End Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of the shares redeemed within 12 months of purchase)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of purchases of $1,000,000 or more that are redeemed within 18 months of purchase)

rr_MaximumDeferredSalesChargeOverOther

none

Management Fees

rr_ManagementFeesOverAssets

0.95%

Distribution (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other Expenses

rr_OtherExpensesOverAssets

0.33%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

1.53%

Less: Fee Waiver and/or Expense Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.04%)

Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement

rr_NetExpensesOverAssets

1.49%

^[1]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 152

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

479

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

830

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 1,820

Annual Return 2008

rr_AnnualReturn2008

(41.57%)

Annual Return 2009

rr_AnnualReturn2009

12.71%

Annual Return 2010

rr_AnnualReturn2010

18.04%

Annual Return 2011

rr_AnnualReturn2011

10.82%

Annual Return 2012

rr_AnnualReturn2012

21.16%

Annual Return 2013

rr_AnnualReturn2013

32.19%

Annual Return 2014

rr_AnnualReturn2014

0.78%

Annual Return 2015

rr_AnnualReturn2015

2.58%

Annual Return 2016

rr_AnnualReturn2016

9.41%

Annual Return 2017

rr_AnnualReturn2017

25.72%

Label

rr_AverageAnnualReturnLabel

Investor Class Return Before Taxes

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

25.72%

^[3]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

13.45%

^[3]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

6.97%

^[3]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

10.70%

^[3]

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Aug. 30, 2002

USA Mutuals Vice Fund | USA Mutuals Vice Fund - Investor Class | After Taxes on Distributions

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Investor Class Return After Taxes on Distributions

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

24.63%

^[3]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

12.03%

^[3]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

6.20%

^[3]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

10.11%

^[3]

USA Mutuals Vice Fund | USA Mutuals Vice Fund - Investor Class | After Taxes on Distributions and Sale of Fund Shares

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Investor Class Return After Taxes on Distributions and Sale of Fund Shares

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

15.15%

^[3]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

10.49%

^[3]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

5.47%

^[3]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

9.06%

^[3]

USA Mutuals Vice Fund | USA Mutuals Vice Fund - Class A

Risk/Return:

rr_RiskReturnAbstract

Maximum Front-End Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

5.75%

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of the shares redeemed within 12 months of purchase)

rr_MaximumDeferredSalesChargeOverOfferingPrice

none

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of purchases of $1,000,000 or more that are redeemed within 18 months of purchase)

rr_MaximumDeferredSalesChargeOverOther

1.00%

Management Fees

rr_ManagementFeesOverAssets

0.95%

Distribution (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

^[4]

Other Expenses

rr_OtherExpensesOverAssets

0.33%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

1.53%

Less: Fee Waiver and/or Expense Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.04%)

Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement

rr_NetExpensesOverAssets

1.49%

^[1]

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts on Class A shares if you or your family invest, or agree to invest in the future, at least $50,000 in the Fund’s Class A shares.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

$ 50,000

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

718

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

1,027

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,358

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 2,290

Label

rr_AverageAnnualReturnLabel

Class A Return Before Taxes

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

18.49%

^[2]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

12.11%

^[2]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

^[2]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

13.82%

^[2]

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Apr. 01, 2014

USA Mutuals Vice Fund | USA Mutuals Vice Fund - Class C

Risk/Return:

rr_RiskReturnAbstract

Maximum Front-End Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

none

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of the shares redeemed within 12 months of purchase)

rr_MaximumDeferredSalesChargeOverOfferingPrice

1.00%

Maximum Contingent Deferred Sales Charge (Load) (as a percentage of purchases of $1,000,000 or more that are redeemed within 18 months of purchase)

rr_MaximumDeferredSalesChargeOverOther

none

Management Fees

rr_ManagementFeesOverAssets

0.95%

Distribution (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

1.00%

Other Expenses

rr_OtherExpensesOverAssets

0.33%

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

2.28%

Less: Fee Waiver and/or Expense Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.04%)

Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement

rr_NetExpensesOverAssets

2.24%

^[1]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 327

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

709

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,216

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

2,612

Expense Example, No Redemption, 1 Year

rr_ExpenseExampleNoRedemptionYear01

227

Expense Example, No Redemption, 3 Years

rr_ExpenseExampleNoRedemptionYear03

709

Expense Example, No Redemption, 5 Years

rr_ExpenseExampleNoRedemptionYear05

1,216

Expense Example, No Redemption, 10 Years

rr_ExpenseExampleNoRedemptionYear10

$ 2,612

Label

rr_AverageAnnualReturnLabel

Class C Return Before Taxes

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

23.81%

^[5]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

12.60%

^[5]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

^[5]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

14.09%

^[5]

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Dec. 08, 2011

[1] USA Mutuals Advisors, Inc. (the "Advisor"), the Vice Fund's investment advisor, has contractually agreed to limit the Fund's total annual fund operating expenses (exclusive of front-end or contingent deferred loads, shareholder servicing plan fees, taxes, interest and dividends on short positions, brokerage, acquired fund fees and expenses, extraordinary expenses and class specific expenses like distribution (12b-1) fees (collectively, "Excluded Expenses")) to 1.24% of average net assets of the Fund through July 31, 2019, with such renewal terms of one year, each measured from the date of renewal, as may be approved by the Board of Trustees, unless either the Board of Trustees or the Advisor terminates the agreement prior to such renewal. To the extent the Fund incurs Excluded Expenses, Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement may be greater than 1.24%. The current term of the agreement may only be terminated by the Board of Trustees of the Trust. The Advisor may request recoupment of previously waived fees and paid expenses from the Fund for three years from the date such fees and expenses were waived or paid by the Advisor, subject to the operating expense limitation agreement, if such reimbursement will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the waiver and/or expense payment; or (2) the expense limitation in place at the time of the recoupment.

[2] Inception date 4/1/2014.

[3] Inception date 8/30/2002.

[4] The Vice Fund has adopted a distribution plan pursuant to Rule 12b-1 (the "Rule 12b-1 Plan") under the Investment Company Act of 1940, as amended (the "1940 Act"). Under the Rule 12b-1 Plan, the Fund may pay an annual Rule 12b-1 distribution fee of up to 0.50% for Class A shares. For the 12-month period covered by this Prospectus, the Fund's Board of Trustees (the "Board of Trustees") has authorized a Rule 12b-1 distribution fee of only 0.25% for Class A shares.

[5] Inception date 12/8/2011.

XML

USA Mutuals Navigator Fund

USA Mutuals Navigator Fund

Investment Objective

The investment objective of the USA Mutuals Navigator Fund (the “Navigator Fund” or the “Fund”) is capital appreciation and capital preservation with lower volatility throughout market cycles – highly correlated with the Standard & Poor’s (“S&P”) 500^® Index in bull markets, and less or negatively correlated in bear markets.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the Navigator Fund.  You may be required to pay brokerage commissions on your purchases and sales of Class Z shares of the Fund, which are not reflected in this table. Class Z shares are not currently offered for sale.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - USA Mutuals Navigator Fund - USD ($)	USA Mutuals Navigator Fund - Institutional Class Shares	USA Mutuals Navigator Fund - Class Z Shares
Shareholder Fees (fees paid directly from your investment)	none	none

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

Annual Fund Operating Expenses - USA Mutuals Navigator Fund		USA Mutuals Navigator Fund - Institutional Class Shares	USA Mutuals Navigator Fund - Class Z Shares
Management Fees		1.75%	1.75%
Distribution (12b-1) Fees		none	none
Other Expenses	[1]	1.42%	1.42%
Total Annual Fund Operating Expenses		3.17%	3.17%
Less: Fee Waiver/Expense Reimbursement		(1.17%)	(1.17%)
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement	[2]	2.00%	2.00%

Example

The following Example is intended to help you compare the cost of investing in the Navigator Fund with the cost of investing in other mutual funds.  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, that you reinvest all distributions, and that the Fund’s operating expenses remain the same each year.  You may be required to pay brokerage commissions on your purchases and sales of Class Z shares of the Fund, which are not reflected in this table.  The fee waiver/expense reimbursement arrangement discussed in the table above is reflected only through July 31, 2019.

Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example - USA Mutuals Navigator Fund - USD ($)	One Year	Three Years	Five Years	Ten Years
USA Mutuals Navigator Fund - Institutional Class Shares	203	868	1,558	3,395
USA Mutuals Navigator Fund - Class Z Shares	203	868	1,558	3,395

Portfolio Turnover

The Navigator Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio).  A higher portfolio turnover rate may generate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.  During the most recent fiscal period (October 13, 2017 through March 31, 2018), the Fund’s portfolio turnover rate was 0.00% of the average value of its portfolio, excluding short-term investments, option transactions, derivative instruments, short sales and transfer in-kind transactions.

Principal Investment Strategies

The Navigator Fund, a diversified investment company, pursues its investment objective by employing a discretionary trading strategy which attempts to tactically allocate exposure levels in the U.S. stock market.  Specifically, the Advisor invests the portfolio in long and short equity stock index futures, primarily on the S&P 500^® Index; however, the Advisor may also invest in stock index futures listed on other equity exchanges.

A stock index futures contract is an agreement between two parties to take or make delivery of an amount of cash equal to a specified dollar amount, times the difference between the stock index value at the close of the last trading day of the contract and the price at which the futures contract is originally struck.  A stock index futures contract does not involve the physical delivery of the underlying stocks in the index.  Although stock index futures contracts call for the actual taking or delivery of cash, in most cases the Navigator Fund expects to liquidate its stock index futures positions through offsetting transactions, which may result in a gain or a loss, before cash settlement is required.  The Fund may use stock index futures for hedging or speculation purposes.

The Navigator Fund’s investment methodology is based on the Advisor’s quantitative indicators and models.  The methodology begins with a top-down analysis of a broad array of fundamental and statistical data relating to the stock market.  This data can be classified into five distinct categories:

1) Market valuation (whether the market is over-valued, under-valued or neutral);

2) Investor sentiment (investor expectations about the market, used as a contrary measure);

3) Market intervals (market momentum, market structure and seasonal factors);

4) Monetary environment (interest rates and macroeconomic circumstances); and

5) Macro Factors (external influences that may impact U.S. stock indexes).

An assessment of these categories determines the amount of long or short equity allocation exposure in the Navigator Fund through investment in stock index futures.  This equity exposure through futures generally ranges from 30% short to 130% long.

The Navigator Fund implements short positions by using futures.  Short sales are transactions where the Fund sells securities it does not own in anticipation of a decline in the value of the securities.  The Fund must borrow the security to deliver it to the buyer.  The Fund is then obligated to replace the security borrowed at the market price at the time of replacement.  The Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future.  This gives the Fund a short position with respect to that asset.

The Navigator Fund will use leverage through derivatives; however, the only derivatives in which the Fund invests are stock index futures.  Leverage includes the practice of borrowing money to purchase securities or borrowing securities to sell them short.  Investments in derivative instruments also involve the use of leverage because the amount of exposure to the underlying asset is often greater than the amount of capital required to purchase the derivative instrument.  Leverage can increase or decrease the investment returns of the Fund.  As a result, the sum of the Fund’s investment exposures may at times exceed the amount of assets invested in the Fund, although these exposures may vary over time.

Buy and sell decisions are at the discretion of the portfolio manager and are based on a compilation of proprietary indicators of broad market sentiment.

Principal Risks

The risks associated with an investment in the Navigator Fund can increase during times of significant market volatility.  Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time.  Investments in the Fund are subject to the following principal risks:

· Recent Market Events Risk.  U.S. and international markets have experienced significant volatility in recent years.  As a result of this significant volatility, many of the risks discussed herein associated with an investment in the Navigator Fund may be increased.  Continuing market volatility may have adverse effects on the Fund.

· Stock Market Risk.  The Navigator Fund invests in stock index futures of companies included within equity indices, which exposes the Fund to stock market risk.  Instruments selected to gain stock market exposure for the Fund’s portfolio may decline in value more than the overall stock market.  Investments are subject to market risk, which may cause the value of the Fund’s investments to decline.

· Management Risk.  Investment strategies employed by the Advisor in selecting investments for the Navigator Fund may not result in an increase in the value of your investment or in overall performance equal to other investments.

· Futures Contract Risk.  Futures contracts are subject to the same risks as the underlying investments that they represent, but also may involve risks different from, and possibly greater than, the risks associated with investing directly in the underlying investments.  Investments in futures may result in a substantial loss in a short period.  The loss may be potentially unlimited and may be more than the original investment.

· Short Selling Risk.  If the value of a security sold short increases prior to the scheduled delivery date the Navigator Fund will lose money, since the Fund must pay more for the security than it has received from the purchaser in the short sale.

· Derivatives Risk.  Investing in derivatives, specifically futures contracts, may subject the Navigator Fund to losses if the derivatives do not perform as expected.

· Leverage Risk.  Leveraging may exaggerate the effect on net asset value of any increase or decrease in the market value of the Navigator Fund’s portfolio.

· New Fund Risk.  As a new fund, there can be no assurance that the Navigator Fund will grow or maintain an economically viable size.

· Cybersecurity Risk.  With the increased use of technologies such as the Internet to conduct business, the Navigator Fund is susceptible to operational, information security, and related risks.  Cyber incidents affecting the Fund or its service providers may cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs.

Performance

Simultaneous with the commencement of the Navigator Fund’s investment operations on October 13, 2017, the Goldman Navigator Fund, L.P., a limited partnership managed by Mr. Steven Goldman (the “Predecessor Partnership”), converted into the Institutional Class shares of the Fund by contributing all of its assets to the Fund in exchange for Institutional Class shares of the Fund.  From its inception in 2002 through 2012, the Predecessor Partnership was managed as a proprietary account of Mr. Goldman, and was converted to a limited partnership in 2012.  From its inception in 2002 through October 13, 2017, the Predecessor Partnership maintained investment policies, objectives, guidelines, and restrictions that were, in all material respects, equivalent to those of the Fund, and at the time of the conversion, the Predecessor Partnership was managed by the same portfolio manager as the Fund.  Mr. Goldman managed the Predecessor Partnership since its inception in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund.  The Fund’s performance for periods before October 13, 2017 is that of the Predecessor Partnership and includes the expenses of the Predecessor Partnership.  The performance includes gains or losses plus income and the reinvestment of all dividends and interest.  All returns reflect the deduction of all actual fees and expenses, paid by the Predecessor Partnership, without provision for state or local taxes.  If the Predecessor Partnership’s performance was adjusted to reflect the projected first year expenses of the Fund, the performance for all periods may have been lower than that stated.

The performance returns of the Predecessor Partnership are audited.  The Predecessor Partnership was not registered under the 1940 Act, and was not subject to certain investment limitations, diversification requirements, and other restrictions imposed by the 1940 Act and the Internal Revenue Code of 1986, as amended (the “Code”), which, if applicable, may have adversely affected its performance.  On a going forward basis after October 13, 2017, the Fund’s performance is calculated using the standard formula set forth in rules promulgated by the SEC, which differs in certain respects from the methods used to compute total returns for the Predecessor Partnership.  Please refer to the Financial Statements section of the SAI to review additional information regarding the Predecessor Partnership.

The following information provides some indication of the risks of investing in the Navigator Fund.  The bar chart shows the Fund’s and the Predecessor Partnership’s annual returns from year to year, as applicable.  The performance shown is that of the Predecessor Partnership for periods prior to October 13, 2017.  The table shows how the Fund’s average annual returns for the one-, five-, and ten-year and since inception periods compare with those of a broad measure of market performance.  The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.  Updated performance information is available on the Fund’s website at www.usamutuals.com.

Navigator Fund – Institutional Class Shares Calendar Year Total Returns as of December 31

The calendar year-to-date return for the Navigator Fund’s Institutional Class shares as of June 30, 2018 was 1.15%.  During the period of time shown in the bar chart, the highest return for a calendar quarter was 11.47% (quarter ended September 30, 2010) and the lowest return for a calendar quarter was -13.23% (quarter ended June 30, 2010).

Average Annual Total Returns (For the periods ended December 31, 2017)

Average Annual Returns - USA Mutuals Navigator Fund	Label	Average Annual Returns, 1 Year	[1]	Average Annual Returns, 5 Years	[1]	Average Annual Returns, 10 Years	[1]	Average Annual Returns, Since Inception	[1]	Average Annual Returns, Inception Date
USA Mutuals Navigator Fund - Institutional Class Shares	Return Before Taxes	18.36%		11.33%		10.05%		12.33%		Feb. 01, 2002
After Taxes on Distributions | USA Mutuals Navigator Fund - Institutional Class Shares	Return After Taxes on Distributions	18.16%		11.29%		10.03%		12.32%
After Taxes on Distributions and Sale of Fund Shares | USA Mutuals Navigator Fund - Institutional Class Shares	Return After Taxes on Distributions and Sale of Fund Shares	10.50%		9.03%		8.32%		10.76%
S&P 500 Index® (reflects no deduction for fees, expenses, or taxes)	S&P 500 Index® (reflects no deduction for fees, expenses, or taxes)	21.83%		15.79%		8.50%		7.77%		Feb. 01, 2002

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.  Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who are exempt from tax or hold their Navigator Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).  After-tax returns shown prior to October 13, 2017, were calculated as if the Predecessor Partnership had qualified as a regulated investment company for federal income tax purposes.

[1] As the Navigator Fund is newer, Other Expenses are based on estimated amounts for the Fund's current fiscal year.

[2] USA Mutuals Advisors, Inc. (the "Advisor"), the Fund's investment advisor, has contractually agreed to limit the Navigator Fund's total annual fund operating expenses (exclusive of front-end or contingent deferred loads, shareholder servicing plan fees, taxes, interest and dividends on short positions, brokerage, acquired fund fees and expenses, extraordinary expenses and class specific expenses like distribution (12b-1) fees (collectively, "Excluded Expenses")) to 1.99% of average net assets of the Fund through July 31, 2019, with such renewal terms of one year, each measured from the date of renewal, as may be approved by the Board of Trustees. To the extent the Fund incurs Excluded Expenses, Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement may be greater than 1.99%. The current term of the agreement may only be terminated by the Board of Trustees. The Advisor may request recoupment of previously waived fees and paid expenses from the Fund for three years from the date such fees and expenses were waived or paid by the Advisor, subject to the operating expense limitation agreement, if such reimbursement will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the waiver and/or expense payment; or (2) the expense limitation in place at the time of the recoupment.

[1] The returns shown prior to October 13, 2017 are those of the Predecessor Partnership.

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Label

Element

Value

USA Mutuals Navigator Fund

Risk/Return:

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Risk/Return [Heading]

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USA Mutuals Navigator Fund

Objective [Heading]

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Investment Objective

Objective, Primary [Text Block]

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The investment objective of the USA Mutuals Navigator Fund (the “Navigator Fund” or the “Fund”) is capital appreciation and capital preservation with lower volatility throughout market cycles – highly correlated with the Standard & Poor’s (“S&P”) 500^® Index in bull markets, and less or negatively correlated in bear markets.

Expense [Heading]

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Fees and Expenses of the Fund

Expense Narrative [Text Block]

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This table describes the fees and expenses that you may pay if you buy and hold shares of the Navigator Fund.  You may be required to pay brokerage commissions on your purchases and sales of Class Z shares of the Fund, which are not reflected in this table. Class Z shares are not currently offered for sale.

Shareholder Fees Caption [Text]

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Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text]

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

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

Jul. 31, 2019

Portfolio Turnover [Heading]

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Portfolio Turnover

Portfolio Turnover [Text Block]

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The Navigator Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio).  A higher portfolio turnover rate may generate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.  During the most recent fiscal period (October 13, 2017 through March 31, 2018), the Fund’s portfolio turnover rate was 0.00% of the average value of its portfolio, excluding short-term investments, option transactions, derivative instruments, short sales and transfer in-kind transactions.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

none

Other Expenses, New Fund, Based on Estimates [Text]

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As the Navigator Fund is newer, Other Expenses are based on estimated amounts for the Fund’s current fiscal year.

Expense Example [Heading]

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Example

Expense Example Narrative [Text Block]

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The following Example is intended to help you compare the cost of investing in the Navigator Fund with the cost of investing in other mutual funds.  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, that you reinvest all distributions, and that the Fund’s operating expenses remain the same each year.  You may be required to pay brokerage commissions on your purchases and sales of Class Z shares of the Fund, which are not reflected in this table.  The fee waiver/expense reimbursement arrangement discussed in the table above is reflected only through July 31, 2019.

Expense Example by, Year, Caption [Text]

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Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading]

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Principal Investment Strategies

Strategy Narrative [Text Block]

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The Navigator Fund, a diversified investment company, pursues its investment objective by employing a discretionary trading strategy which attempts to tactically allocate exposure levels in the U.S. stock market.  Specifically, the Advisor invests the portfolio in long and short equity stock index futures, primarily on the S&P 500^® Index; however, the Advisor may also invest in stock index futures listed on other equity exchanges.

A stock index futures contract is an agreement between two parties to take or make delivery of an amount of cash equal to a specified dollar amount, times the difference between the stock index value at the close of the last trading day of the contract and the price at which the futures contract is originally struck.  A stock index futures contract does not involve the physical delivery of the underlying stocks in the index.  Although stock index futures contracts call for the actual taking or delivery of cash, in most cases the Navigator Fund expects to liquidate its stock index futures positions through offsetting transactions, which may result in a gain or a loss, before cash settlement is required.  The Fund may use stock index futures for hedging or speculation purposes.

The Navigator Fund’s investment methodology is based on the Advisor’s quantitative indicators and models.  The methodology begins with a top-down analysis of a broad array of fundamental and statistical data relating to the stock market.  This data can be classified into five distinct categories:

1) Market valuation (whether the market is over-valued, under-valued or neutral);

2) Investor sentiment (investor expectations about the market, used as a contrary measure);

3) Market intervals (market momentum, market structure and seasonal factors);

4) Monetary environment (interest rates and macroeconomic circumstances); and

5) Macro Factors (external influences that may impact U.S. stock indexes).

An assessment of these categories determines the amount of long or short equity allocation exposure in the Navigator Fund through investment in stock index futures.  This equity exposure through futures generally ranges from 30% short to 130% long.

The Navigator Fund implements short positions by using futures.  Short sales are transactions where the Fund sells securities it does not own in anticipation of a decline in the value of the securities.  The Fund must borrow the security to deliver it to the buyer.  The Fund is then obligated to replace the security borrowed at the market price at the time of replacement.  The Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future.  This gives the Fund a short position with respect to that asset.

The Navigator Fund will use leverage through derivatives; however, the only derivatives in which the Fund invests are stock index futures.  Leverage includes the practice of borrowing money to purchase securities or borrowing securities to sell them short.  Investments in derivative instruments also involve the use of leverage because the amount of exposure to the underlying asset is often greater than the amount of capital required to purchase the derivative instrument.  Leverage can increase or decrease the investment returns of the Fund.  As a result, the sum of the Fund’s investment exposures may at times exceed the amount of assets invested in the Fund, although these exposures may vary over time.

Buy and sell decisions are at the discretion of the portfolio manager and are based on a compilation of proprietary indicators of broad market sentiment.

Risk [Heading]

rr_RiskHeading

Principal Risks

Risk Narrative [Text Block]

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The risks associated with an investment in the Navigator Fund can increase during times of significant market volatility.  Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time.  Investments in the Fund are subject to the following principal risks:

· Recent Market Events Risk.  U.S. and international markets have experienced significant volatility in recent years.  As a result of this significant volatility, many of the risks discussed herein associated with an investment in the Navigator Fund may be increased.  Continuing market volatility may have adverse effects on the Fund.

· Stock Market Risk.  The Navigator Fund invests in stock index futures of companies included within equity indices, which exposes the Fund to stock market risk.  Instruments selected to gain stock market exposure for the Fund’s portfolio may decline in value more than the overall stock market.  Investments are subject to market risk, which may cause the value of the Fund’s investments to decline.

· Management Risk.  Investment strategies employed by the Advisor in selecting investments for the Navigator Fund may not result in an increase in the value of your investment or in overall performance equal to other investments.

· Futures Contract Risk.  Futures contracts are subject to the same risks as the underlying investments that they represent, but also may involve risks different from, and possibly greater than, the risks associated with investing directly in the underlying investments.  Investments in futures may result in a substantial loss in a short period.  The loss may be potentially unlimited and may be more than the original investment.

· Short Selling Risk.  If the value of a security sold short increases prior to the scheduled delivery date the Navigator Fund will lose money, since the Fund must pay more for the security than it has received from the purchaser in the short sale.

· Derivatives Risk.  Investing in derivatives, specifically futures contracts, may subject the Navigator Fund to losses if the derivatives do not perform as expected.

· Leverage Risk.  Leveraging may exaggerate the effect on net asset value of any increase or decrease in the market value of the Navigator Fund’s portfolio.

· New Fund Risk.  As a new fund, there can be no assurance that the Navigator Fund will grow or maintain an economically viable size.

· Cybersecurity Risk.  With the increased use of technologies such as the Internet to conduct business, the Navigator Fund is susceptible to operational, information security, and related risks.  Cyber incidents affecting the Fund or its service providers may cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs.

Risk Lose Money [Text]

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Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time.

Bar Chart and Performance Table [Heading]

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Performance

Performance Narrative [Text Block]

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Simultaneous with the commencement of the Navigator Fund’s investment operations on October 13, 2017, the Goldman Navigator Fund, L.P., a limited partnership managed by Mr. Steven Goldman (the “Predecessor Partnership”), converted into the Institutional Class shares of the Fund by contributing all of its assets to the Fund in exchange for Institutional Class shares of the Fund.  From its inception in 2002 through 2012, the Predecessor Partnership was managed as a proprietary account of Mr. Goldman, and was converted to a limited partnership in 2012.  From its inception in 2002 through October 13, 2017, the Predecessor Partnership maintained investment policies, objectives, guidelines, and restrictions that were, in all material respects, equivalent to those of the Fund, and at the time of the conversion, the Predecessor Partnership was managed by the same portfolio manager as the Fund.  Mr. Goldman managed the Predecessor Partnership since its inception in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund.  The Fund’s performance for periods before October 13, 2017 is that of the Predecessor Partnership and includes the expenses of the Predecessor Partnership.  The performance includes gains or losses plus income and the reinvestment of all dividends and interest.  All returns reflect the deduction of all actual fees and expenses, paid by the Predecessor Partnership, without provision for state or local taxes.  If the Predecessor Partnership’s performance was adjusted to reflect the projected first year expenses of the Fund, the performance for all periods may have been lower than that stated.

The performance returns of the Predecessor Partnership are audited.  The Predecessor Partnership was not registered under the 1940 Act, and was not subject to certain investment limitations, diversification requirements, and other restrictions imposed by the 1940 Act and the Internal Revenue Code of 1986, as amended (the “Code”), which, if applicable, may have adversely affected its performance.  On a going forward basis after October 13, 2017, the Fund’s performance is calculated using the standard formula set forth in rules promulgated by the SEC, which differs in certain respects from the methods used to compute total returns for the Predecessor Partnership.  Please refer to the Financial Statements section of the SAI to review additional information regarding the Predecessor Partnership.

The following information provides some indication of the risks of investing in the Navigator Fund.  The bar chart shows the Fund’s and the Predecessor Partnership’s annual returns from year to year, as applicable.  The performance shown is that of the Predecessor Partnership for periods prior to October 13, 2017.  The table shows how the Fund’s average annual returns for the one-, five-, and ten-year and since inception periods compare with those of a broad measure of market performance.  The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.  Updated performance information is available on the Fund’s website at www.usamutuals.com.

Performance Information Illustrates Variability of Returns [Text]

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The following information provides some indication of the risks of investing in the Navigator Fund.

Performance Availability Website Address [Text]

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www.usamutuals.com

Performance Past Does Not Indicate Future [Text]

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The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.

Bar Chart [Heading]

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Navigator Fund – Institutional Class Shares Calendar Year Total Returns as of December 31

Bar Chart Closing [Text Block]

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The calendar year-to-date return for the Navigator Fund’s Institutional Class shares as of June 30, 2018 was 1.15%.  During the period of time shown in the bar chart, the highest return for a calendar quarter was 11.47% (quarter ended September 30, 2010) and the lowest return for a calendar quarter was -13.23% (quarter ended June 30, 2010).

Year to Date Return, Label

rr_YearToDateReturnLabel

year-to-date return

Bar Chart, Year to Date Return, Date

rr_BarChartYearToDateReturnDate

Jun. 30, 2018

Bar Chart, Year to Date Return

rr_BarChartYearToDateReturn

1.15%

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

highest return for a calendar quarter

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Sep. 30, 2010

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

11.47%

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

lowest return for a calendar quarter

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Jun. 30, 2010

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

(13.23%)

Index No Deduction for Fees, Expenses, Taxes [Text]

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(reflects no deduction for fees, expenses, or taxes)

Performance Table Uses Highest Federal Rate

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After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

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Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who are exempt from tax or hold their Navigator Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).

Performance Table Closing [Text Block]

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After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.  Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who are exempt from tax or hold their Navigator Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).  After-tax returns shown prior to October 13, 2017, were calculated as if the Predecessor Partnership had qualified as a regulated investment company for federal income tax purposes.

Caption

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Average Annual Total Returns (For the periods ended December 31, 2017)

USA Mutuals Navigator Fund | S&P 500 Index® (reflects no deduction for fees, expenses, or taxes)

Risk/Return:

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Label

rr_AverageAnnualReturnLabel

S&P 500 Index® (reflects no deduction for fees, expenses, or taxes)

Average Annual Returns, 1 Year

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21.83%

^[1]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

15.79%

^[1]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

8.50%

^[1]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

7.77%

^[1]

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Feb. 01, 2002

USA Mutuals Navigator Fund | USA Mutuals Navigator Fund - Institutional Class Shares

Risk/Return:

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Shareholder Fees (fees paid directly from your investment)

rr_ShareholderFeeOther

none

Management Fees

rr_ManagementFeesOverAssets

1.75%

Distribution (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

Other Expenses

rr_OtherExpensesOverAssets

1.42%

^[2]

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

3.17%

Less: Fee Waiver/Expense Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(1.17%)

Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement

rr_NetExpensesOverAssets

2.00%

^[3]

Expense Example, with Redemption, 1 Year

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$ 203

Expense Example, with Redemption, 3 Years

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868

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,558

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 3,395

Annual Return 2008

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8.97%

Annual Return 2009

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16.74%

Annual Return 2010

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10.88%

Annual Return 2011

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3.09%

Annual Return 2012

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4.80%

Annual Return 2013

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25.12%

Annual Return 2014

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8.80%

Annual Return 2015

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(1.38%)

Annual Return 2016

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7.62%

Annual Return 2017

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18.36%

Label

rr_AverageAnnualReturnLabel

Return Before Taxes

Average Annual Returns, 1 Year

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18.36%

^[1]

Average Annual Returns, 5 Years

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11.33%

^[1]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

10.05%

^[1]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

12.33%

^[1]

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Feb. 01, 2002

USA Mutuals Navigator Fund | USA Mutuals Navigator Fund - Institutional Class Shares | After Taxes on Distributions

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

18.16%

^[1]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

11.29%

^[1]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

10.03%

^[1]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

12.32%

^[1]

USA Mutuals Navigator Fund | USA Mutuals Navigator Fund - Institutional Class Shares | After Taxes on Distributions and Sale of Fund Shares

Risk/Return:

rr_RiskReturnAbstract

Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions and Sale of Fund Shares

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

10.50%

^[1]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

9.03%

^[1]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

8.32%

^[1]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

10.76%

^[1]

USA Mutuals Navigator Fund | USA Mutuals Navigator Fund - Class Z Shares

Risk/Return:

rr_RiskReturnAbstract

Shareholder Fees (fees paid directly from your investment)

rr_ShareholderFeeOther

none

Management Fees

rr_ManagementFeesOverAssets

1.75%

Distribution (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

none

Other Expenses

rr_OtherExpensesOverAssets

1.42%

^[2]

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

3.17%

Less: Fee Waiver/Expense Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(1.17%)

Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement

rr_NetExpensesOverAssets

2.00%

^[3]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 203

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

868

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

1,558

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 3,395

[1] The returns shown prior to October 13, 2017 are those of the Predecessor Partnership.

[2] As the Navigator Fund is newer, Other Expenses are based on estimated amounts for the Fund's current fiscal year.

[3] USA Mutuals Advisors, Inc. (the "Advisor"), the Fund's investment advisor, has contractually agreed to limit the Navigator Fund's total annual fund operating expenses (exclusive of front-end or contingent deferred loads, shareholder servicing plan fees, taxes, interest and dividends on short positions, brokerage, acquired fund fees and expenses, extraordinary expenses and class specific expenses like distribution (12b-1) fees (collectively, "Excluded Expenses")) to 1.99% of average net assets of the Fund through July 31, 2019, with such renewal terms of one year, each measured from the date of renewal, as may be approved by the Board of Trustees. To the extent the Fund incurs Excluded Expenses, Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement may be greater than 1.99%. The current term of the agreement may only be terminated by the Board of Trustees. The Advisor may request recoupment of previously waived fees and paid expenses from the Fund for three years from the date such fees and expenses were waived or paid by the Advisor, subject to the operating expense limitation agreement, if such reimbursement will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the waiver and/or expense payment; or (2) the expense limitation in place at the time of the recoupment.

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USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund

USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund

Investment Objective

The investment objective of the USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund (the “WaveFront Fund” or the “Fund”) is to produce positive absolute returns while reducing exposure to general equity market risk.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy and hold shares of the WaveFront Fund.  You may be required to pay brokerage commissions on your purchases and sales of Class Z shares of the Fund, which are not reflected in this table. Class Z shares are not currently offered for sale.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees - USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - USD ($)	USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares	USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Class Z Shares
Shareholder Fees (fees paid directly from your investment)	none	none

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

Annual Fund Operating Expenses - USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund		USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares	USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Class Z Shares
Management Fees		1.25%	1.25%
Other Expenses		3.15%	3.15%
Acquired Fund Fees and Expenses	[1]	0.07%	0.07%
Total Annual Fund Operating Expenses		4.47%	4.47%
Less: Fee Waiver/Expense Reimbursement		(3.11%)	(3.11%)
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement	[2],[3]	1.36%	1.36%

Example

The following Example is intended to help you compare the cost of investing in the WaveFront Fund with the cost of investing in other mutual funds.  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, that you reinvest all distributions, and that the Fund’s operating expenses remain the same each year.  You may be required to pay brokerage commissions on your purchases and sales of Class Z shares of the Fund, which are not reflected in this Example.  The fee/waiver expense reimbursement discussed in the table above is reflected only through July 31, 2019.

Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example - USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - USD ($)	One Year	Three Years	Five Years	Ten Years
USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares	138	1,070	2,011	4,409
USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Class Z Shares	138	1,070	2,011	4,409

Portfolio Turnover

The WaveFront Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio).  A higher portfolio turnover rate may generate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.  During the Fund’s most recent fiscal period (October 16, 2017 through March 31, 2018), the Fund’s portfolio turnover rate was 300.53% of the average value of its portfolio.

Principal Investment Strategies

The Advisor has hired WaveFront Global Asset Management Corp. (“WaveFront” or the “Sub-Advisor”) as the Fund’s sub-advisor.  The Sub-Advisor has discretion to purchase, manage and sell portfolio securities for the Fund’s investment portfolio, subject to the Fund’s investment objective, policies and limitations.

The WaveFront Fund seeks to achieve above-average total return by trading and investing opportunistically in a broad range of markets, instruments and asset-classes.  Investment opportunities are identified through a “Quantamental” approach.  This type of approach indicates a process of research that involves a much deeper scientific rigor, i.e. a data-driven approach, versus a qualitative approach. It combines quantitative and fundamental research by analyzing macro-economic variables as well as securities fundamentals and characteristics within the context of historical return data, culminating in a specific set of expected return probabilities.  These return expectations define both long and short investment opportunities and the broader macro-economic and sector outlooks of the Fund.  Lastly, at the portfolio management level, a top-down, quantitative analysis of the volatility and correlations of current investment opportunities and themes finalizes portfolio weights.  The benefit of a Quantamental approach is that the subjectivity of investing is replaced by an objective, quantitative and data-driven approach.

The WaveFront Fund’s portfolio consists primarily of equity securities and options.  However, the Fund may invest in other financial instruments including fixed income securities, commodity interests, and currency exchange transactions in U.S. markets and, to a lesser extent, in foreign and emerging markets.  The Fund may invest in commodity interests through commodity-related exchange traded funds (“ETFs”), in commodities such as gold and oil.  The Fund may also invest in U.S. government agency securities and U.S. government obligations.  The Fund may invest separately, up to 50% of its net assets in preferred stocks, corporate debt securities, and convertibles.  The Fund may also invest up to 15% of its net assets in the aggregate in partnerships, limited partnerships and master limited partnerships (“MLPs”).  The Fund may also invest up to 20% of its net assets in when-issued securities.  The Fund may also invest separately, up to 15% of its net assets in warrants and initial public offerings (“IPOs”).  The Fund may also invest in derivatives in the form of futures contracts and options on futures contracts in pursuing its investment objective.  The Fund implements short positions through short sales of any instrument that the Fund may purchase for investment.  The Fund may use leverage (e.g., by borrowing or through derivatives).  As a result, the sum of the Fund’s investment exposures may at times exceed the amount of assets invested in the Fund, although these exposures may vary over time.  The Fund’s annual portfolio turnover rate will generally exceed 100%.

The investment objective of the WaveFront Fund is to produce positive absolute returns while reducing exposure to general equity market risk.  In pursuing the objective of absolute returns, the Fund’s intent is to provide an investment strategy that offers an opportunity for real, positive, consistent and meaningful rates of return with lower levels of volatility, in any type of economic cycle.  The Fund pursues its investment objective by employing (i) a “core long/short equity” strategy; (ii) a “macro overlay” strategy; and (iii) a risk management strategy.

Core Long/Short Equity Strategy:  This strategy provides long and short exposure to a diversified portfolio of common stocks and options of primarily U.S. companies.  The strategy involves investing in equities (long) the Sub-Advisor expects to increase in value and, to a much lesser degree, selling equities (short) the Sub-Advisor expects to decrease in value.  The strategy will generally have a long bias, except during periods when the Sub-Advisor has a negative outlook towards equity market indices.  Investment decisions are based on the results of the following sector allocation and stock selection process:

· A top-down, quantitative analysis is utilized to identify opportunities by focusing on macroeconomic developments and understanding how businesses and industries are affected by these developments at different points in their respective maturation cycles.  As a result of this analysis, the Sub-Advisor then identifies sectors or stocks that stand to be impacted, and whether that impact will be positive or negative in nature; and

· Quantamental, bottom-up securities analysis identifies stocks with a potential inflection point in a company’s financial metrics and/or operations, as well as business or industry cycle.  A potential for corporate events exists when capital allocation strategies are implemented to deploy funds to acquisitions or changes to shareholder returns policies.  Those exposures, the Sub-Advisor believes, are associated with the potential for excess returns, as well as specific, unique factors associated with sources of pricing inefficiency or potential corporate events.

Macro Overlay Strategy:  This strategy invests in futures contracts, options on futures contracts and other investment companies, including mutual funds and exchange-traded funds (“ETFs”) with the intent of either (i) increasing overall market exposure; or (ii) reducing market exposure and hedging systematic market risk.  The strategy evaluates trends or economic/business cycles, asset class relationships as well as liquidity and financial conditions in the marketplace.  The same top-down, quantitative analysis described in the previous strategy is employed, augmented by technical market information such as volatility and momentum of broad equity market indices, to identify the current equity market environment.  Based on this analysis, the Sub-Advisor will either (i) increase overall market exposure when the equity market environment is anticipated to be more conducive to a buy-and-hold approach (rather than stock selection); or (ii) hedge systematic market risk and decrease overall market exposure by selling short futures contracts and/or shorting ETFs when the equity market environment is expected to be negative.

Risk Management Strategy:  The WaveFront Fund employs a risk management strategy that seeks to (i) minimize the expected volatility of the Fund’s returns; (ii) reduce the downside risk of the Fund during periods of sustained market declines; and (iii) protect the Fund against risks related to extreme and rare events (tail risk) that can result in unexpected and significant losses.  These risk management objectives are achieved by limiting single security, sector and overall market exposures, as well as by employing volatility and drawdown controls.

Volatility is a measure of the deviation of the WaveFront Fund’s return around the average fund return.  Volatility controls seek to minimize the deviation of Fund returns in two principal ways.  First, by targeting portfolio volatility versus simply accepting market volatility, individual positions are continuously calibrated to this target based on the ongoing volatility and correlation of those positions.  Second, at the portfolio level, positions are reduced, pro-rata, if the realized volatility of the portfolio exceeds the targeted portfolio volatility.  The amount of any reduction is proportionate to the degree to which realized portfolio volatility exceeds targeted portfolio volatility.

Drawdown controls aim to limit or mitigate the downside potential of the portfolio, relative to equity indices, during periods of sustained market declines.  At the security level, drawdown limits the amount at risk through trade limits, or stop levels below which positions are exited, as well as Value-at-Risk (“VaR”) limits per security.  VaR is a statistical technique used to measure and quantify the level of financial risk within the portfolio over a specific time frame.

The Sub-Advisor believes that using the combination of these strategies is an effective and powerful approach, particularly in environments that are not conducive to active stock picking or during broad equity market declines.  However, there are no guarantees that the WaveFront Fund will stay within its targeted volatility limit, or be able to limit downside potential to a pre-defined level.  Furthermore, as markets continue to evolve over time, and as the Sub-Advisor is continuously engaged in research, the Sub-Advisor may add, modify, or eliminate strategies with the objective of improving the Fund’s performance.

Principal Risks

The risks associated with an investment in the WaveFront Fund can increase during times of significant market volatility.  Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time.  Investments in the Fund are subject to the following principal risks:

· Recent Market Events Risk.  U.S. and international markets have experienced significant volatility in recent years.  As a result of this significant volatility, many of the risks discussed herein associated with an investment in the WaveFront Fund may be increased.  Continuing market volatility may have adverse effects on the Fund.

· Stock Market Risk.  Certain stocks selected for the WaveFront Fund’s portfolio may decline in value more than the overall stock market.  Investments are subject to market risk, which may cause the value of the Fund’s investment to decline.

· Equity Risk.  Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change.

· Management Risk.  Investment strategies employed by the Sub-Advisor in selecting investments for the WaveFront Fund may not result in an increase in the value of your investment or in overall performance equal to other investments.

· New Fund Risk.  As a new fund, there can be no assurance that the WaveFront Fund will grow or maintain an economically viable size.

· Options Risk.  Options may be more volatile than direct investments in the underlying securities, involve additional costs, may involve a small initial investment relative to the risk assumed, and may be less liquid than investments directly in the underlying securities.

· Futures Contract Risk.  Futures contracts are subject to the same risks as the underlying investments that they represent, but also may involve risks different from, and possibly greater than, the risks associated with investing directly in the underlying investments.  Investments in futures may result in a substantial loss in a short period.  The loss may be potentially unlimited and may be more than the original investment.

· Derivatives Risk.  Investing in derivatives, specifically futures contracts, may subject the WaveFront Fund to losses if the derivatives do not perform as expected.

· Leverage Risk.  Leveraging may exaggerate the effect on net asset value of any increase or decrease in the market value of the WaveFront Fund’s portfolio.

· Short Selling Risk.  If the value of a security sold short increases prior to the scheduled delivery date the WaveFront Fund will lose money, since the Fund must pay more for the security than it has received from the purchaser in the short sale.

· Other Investment Companies and ETFs Risk.  You will indirectly bear fees and expenses charged by the underlying funds in which the WaveFront Fund may invest in addition to the Fund’s direct fees and expenses and, as a result, your cost of investing in the Fund will generally be higher than the cost of investing directly in the underlying fund shares.  Investments in ETFs bear the risk that the market price of the ETF’s shares may trade at a discount to their net asset value (“NAV”) or that an active trading market for an ETF’s shares may not develop or be maintained.

· Fixed Income Securities and Corporate Debt Risk.  Fixed income securities held by the WaveFront Fund are subject to interest rate risk, call risk, prepayment and extension risk, credit risk, and high yield securities risk.

· Commodity Risk.  Exposure to commodity markets through investments in commodity-linked instruments may subject the WaveFront Fund to greater volatility than investments in traditional securities.  This difference is because the value of companies in commodity-related businesses may be affected by overall market movements and other factors affecting the value of a particular industry or commodity, such as weather, disease, embargoes, or political and regulatory developments.

· Currency Risk. Fluctuations in currency exchange rates will negatively affect securities denominated in, and/or receiving revenues in, foreign currencies.  Adverse changes in currency exchange rates (relative to the U.S. dollar) may erode or reverse any potential gains from the WaveFront Fund’s investment in securities denominated in a foreign currency or may widen existing losses.

· Foreign Securities Risk.  Foreign securities may involve more risks than those associated with U.S. investments.  The economies of foreign countries may differ from the U.S. economy in such respects as growth of gross domestic product, rate of inflation, capital reinvestment, and resource self-sufficiency.  Additional risks include currency fluctuations, political and economic instability, imposition of foreign withholding taxes, differences in financial reporting standards and less stringent regulation of securities markets.

· Emerging Market Risk.  The WaveFront Fund may invest in foreign securities of emerging market-domiciled companies.  In addition to the risks of foreign securities in general, countries in emerging markets can have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries and securities markets that trade a small number of issues.

· Government-Sponsored Entities Risk. There is no assurance the U.S. Government will provide financial support on securities issued or guaranteed by the U.S. Government, its agencies and instrumentalities.

· Preferred Stock Risk.  Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer, and that participation in the growth of an issuer may be limited.

· Convertible Securities Risk.  Convertible securities are subject to many of the same risks as regular fixed-income securities, including the risk that when market interest rates rise, the value of the convertible security falls, and in the event of a liquidation of the issuing company, holders of convertible securities generally would be paid after the company’s creditors but before the company’s common shareholders.

· Master Limited Partnership Risk.  Limited partners in an MLP typically have limited control and limited rights to vote on matters affecting the partnership.  There also are certain tax risks associated with the MLPs in which the WaveFront Fund may invest, including the possibility that the Internal Revenue Service could challenge the federal income tax treatment of the MLPs in which the Fund invests.

· When-Issued Securities Risk.  The price or yield obtained in a when-issued transaction may be less favorable than the price or yield available in the market when the instruments’ delivery takes place; additionally, failure of a party to a transaction to consummate the trade may result in a loss to the WaveFront Fund or missing an opportunity to obtain a price considered advantageous.

· Warrants Risk.  Investments in warrants involve certain risks, including the possible lack of a liquid market for resale of the warrants, potential price fluctuations as a result of speculation or other factors, and failure of the price of the underlying security to reach or have reasonable prospects of reaching a level at which the warrant can be prudently exercised (in which event the warrant may expire without being exercised, resulting in a loss of the WaveFront Fund’s entire investment therein).

· Initial Public Offerings Risk.  The market value of IPO shares may fluctuate considerably due to factors such as the absence of a prior public market, unseasoned trading, the small number of shares available for trading, and limited information about the issuer.  The purchase of IPO shares may involve high transaction costs.  IPO shares are subject to market risk and liquidity risk.  When the WaveFront Fund’s asset base is small, a significant portion of the Fund’s performance could be attributable to investments in IPOs, because such investments would have a magnified impact on the Fund.

· High Portfolio Turnover Rate Risk.  The WaveFront Fund may have a relatively high turnover rate compared to many mutual funds.  A high portfolio turnover rate (100% or more) has the potential to result in increased brokerage transaction costs which may lower the Fund’s returns.  Furthermore, a high portfolio turnover rate may result in the realization by the Fund, and distribution to shareholders, of a greater amount of short-term capital gains than if the Fund had a low portfolio turnover rate.  Distributions to shareholders of short-term capital gains are taxed as ordinary income under federal income tax laws.  This could result in a higher tax liability and may lower an investor’s after-tax return.

· Cybersecurity Risk.  With the increased use of technologies such as the Internet to conduct business, the WaveFront Fund is susceptible to operational, information security, and related risks.  Cyber incidents affecting the Fund or its service providers may cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs.

Performance

Simultaneous with the commencement of the WaveFront Fund’s investment operations on October 16, 2017, BC Capital Investors, L.P., a limited partnership managed by the Sub-Advisor (the “Predecessor Partnership”), converted into the Institutional Class shares of the Fund by contributing all of its assets to the Fund in exchange for Institutional Class shares of the Fund. From its inception through October 16, 2017, the Predecessor Partnership maintained investment policies, objectives, guidelines, and restrictions that were, in all material respects, equivalent to those of the Fund, and at the time of the conversion, the Predecessor Partnership was managed by the same portfolio managers as the Fund and such portfolio managers managed the Predecessor Partnership since its inception in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund.  The Fund’s performance for periods before October 16, 2017 is that of the Predecessor Partnership and includes the expenses of the Predecessor Partnership.  The performance includes gains or losses plus income and the reinvestment of all dividends and interest.  All returns reflect the deduction of all actual fees and expenses, paid by the Predecessor Partnership, without provision for state or local taxes. If the Predecessor Partnership’s performance was adjusted to reflect the projected first year expenses of the Fund, the performance for all periods would have been lower than that stated.

The performance returns of the Predecessor Partnership are audited.  The Predecessor Partnership was not registered under the 1940 Act, and was not subject to certain investment limitations, diversification requirements, and other restrictions imposed by the 1940 Act and the Internal Revenue Code of 1986, as amended (the “Code”), which, if applicable, may have adversely affected its performance.  On a going forward basis after October 16, 2017, the Fund’s performance is calculated using the standard formula set forth in rules promulgated by the SEC, which differs in certain respects from the methods used to compute total returns for the Predecessor Partnership.  Please refer to the Financial Statements section of the SAI to review additional information regarding the Predecessor Partnership.

The following information provides some indication of the risks of investing in the WaveFront Fund.  The bar chart shows the Fund’s and the Predecessor Partnership’s annual returns from year to year, as applicable.  The performance shown is that of the Predecessor Partnership for periods prior to October 16, 2017. The table shows how the Fund’s average annual returns for the one-, five-, and ten-year and since inception periods compare with those of a broad measure of market performance. The table also shows how the Fund’s returns compare with the returns of an index of funds with similar investment objectives as well as how the returns compare to a category of funds with similar investment objectives.  The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.  Updated performance information is available on the Fund’s website at www.usamutuals.com.

WaveFront Fund – Institutional Class Shares Calendar Year Total Returns as of December 31,*

The calendar year-to-date return for the WaveFront Fund’s Institutional Class shares as of June 30, 2018 was -2.75%.  During the period of time shown in the bar chart, the highest return for a calendar quarter was 16.21% (quarter ended June 30, 2008) and the lowest return for a calendar quarter was -10.52% (quarter ended September 30, 2008).

Average Annual Total Returns (For the periods ended December 31, 2017)

Average Annual Returns - USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund	Label	Average Annual Returns, 1 Year	[1]	Average Annual Returns, 5 Years	[1]	Average Annual Returns, 10 Years	[1]	Average Annual Returns, Since Inception	[1]	Average Annual Returns, Inception Date
USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares	Return Before Taxes	4.53%		5.24%		5.60%		6.90%		Feb. 28, 2002
After Taxes on Distributions | USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares	Return After Taxes on Distributions	4.17%		5.17%		5.56%		6.88%
After Taxes on Distributions and Sale of Fund Shares | USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares	Return After Taxes on Distributions and Sale of Fund Shares	2.78%		4.08%		4.49%		5.76%
ICE BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index (reflects no deduction for fees, expenses, or taxes)	ICE BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index (reflects no deduction for fees, expenses, or taxes)	0.86%		0.27%		0.39%		1.30%		Feb. 28, 2002

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.  Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who are exempt from tax or hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).  After-tax returns shown prior to October 16, 2017, were calculated as if the Predecessor Partnership had qualified as a regulated investment company for federal income tax purposes.

[1] As the WaveFront Fund is newer, Other Expenses are based on estimated amounts for the Fund's current fiscal year.

[2] Please note that Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement in the table above do not correlate to the ratio of expenses to average net assets found within the "Financial Highlights" section of this prospectus because AFFE is not included in the ratio.

[3] USA Mutuals Advisors, Inc. (the "Advisor"), the WaveFront Fund's investment advisor, has contractually agreed to limit the Fund's total annual fund operating expenses (exclusive of front-end or contingent deferred loads, shareholder servicing plan fees, taxes, interest and dividends on short positions, brokerage, acquired fund fees and expenses ("AFFE"), extraordinary expenses and class specific expenses like distribution (12b-1) fees (collectively, "Excluded Expenses")) to 1.29% of average net assets of the Fund through July 31, 2019, with such renewal terms of one year, each measured from the date of renewal, as may be approved by the Board of Trustees. To the extent the Fund incurs Excluded Expenses, Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement may be greater than 1.29%. The current term of the agreement may only be terminated by the Board of Trustees. The Advisor may request recoupment of previously waived fees and paid expenses from the Fund for three years from the date such fees and expenses were waived or paid by the Advisor, subject to the operating expense limitation agreement, if such reimbursement will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the waiver and/or expense payment; or (2) the expense limitation in place at the time of the recoupment.

[1] The returns shown prior to October 16, 2017, are those of the Predecessor Partnership. Total returns were calculated based on the change in value during the year of a hypothetical investment, adjusted for contributions and withdrawals, as appropriate, made at the beginning of the year by a limited partner. An individual limited partner's return may have varied from this return based on the timing of capital transactions, participation or non-participation in new issues and the extent to which an individual limited partner's reallocation of profits to the Advisor differs from the average reallocation for all limited partners.

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USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund

Risk/Return:

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Risk/Return [Heading]

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USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund

Objective [Heading]

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Investment Objective

Objective, Primary [Text Block]

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The investment objective of the USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund (the “WaveFront Fund” or the “Fund”) is to produce positive absolute returns while reducing exposure to general equity market risk.

Expense [Heading]

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Fees and Expenses of the Fund

Expense Narrative [Text Block]

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This table describes the fees and expenses that you may pay if you buy and hold shares of the WaveFront Fund.  You may be required to pay brokerage commissions on your purchases and sales of Class Z shares of the Fund, which are not reflected in this table. Class Z shares are not currently offered for sale.

Shareholder Fees Caption [Text]

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Shareholder Fees (fees paid directly from your investment)

Operating Expenses Caption [Text]

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

Fee Waiver or Reimbursement over Assets, Date of Termination

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Jul. 31, 2019

Portfolio Turnover [Heading]

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Portfolio Turnover

Portfolio Turnover [Text Block]

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The WaveFront Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio).  A higher portfolio turnover rate may generate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.  During the Fund’s most recent fiscal period (October 16, 2017 through March 31, 2018), the Fund’s portfolio turnover rate was 300.53% of the average value of its portfolio.

Portfolio Turnover, Rate

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300.53%

Other Expenses, New Fund, Based on Estimates [Text]

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As the WaveFront Fund is newer, Other Expenses are based on estimated amounts for the Fund’s current fiscal year.

Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text]

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Please note that Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement in the table above do not correlate to the ratio of expenses to average net assets found within the “Financial Highlights” section of this prospectus because AFFE is not included in the ratio.

Expense Example [Heading]

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Example

Expense Example Narrative [Text Block]

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The following Example is intended to help you compare the cost of investing in the WaveFront Fund with the cost of investing in other mutual funds.  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, that you reinvest all distributions, and that the Fund’s operating expenses remain the same each year.  You may be required to pay brokerage commissions on your purchases and sales of Class Z shares of the Fund, which are not reflected in this Example.  The fee/waiver expense reimbursement discussed in the table above is reflected only through July 31, 2019.

Expense Example by, Year, Caption [Text]

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Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading]

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Principal Investment Strategies

Strategy Narrative [Text Block]

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The Advisor has hired WaveFront Global Asset Management Corp. (“WaveFront” or the “Sub-Advisor”) as the Fund’s sub-advisor.  The Sub-Advisor has discretion to purchase, manage and sell portfolio securities for the Fund’s investment portfolio, subject to the Fund’s investment objective, policies and limitations.

The WaveFront Fund seeks to achieve above-average total return by trading and investing opportunistically in a broad range of markets, instruments and asset-classes.  Investment opportunities are identified through a “Quantamental” approach.  This type of approach indicates a process of research that involves a much deeper scientific rigor, i.e. a data-driven approach, versus a qualitative approach. It combines quantitative and fundamental research by analyzing macro-economic variables as well as securities fundamentals and characteristics within the context of historical return data, culminating in a specific set of expected return probabilities.  These return expectations define both long and short investment opportunities and the broader macro-economic and sector outlooks of the Fund.  Lastly, at the portfolio management level, a top-down, quantitative analysis of the volatility and correlations of current investment opportunities and themes finalizes portfolio weights.  The benefit of a Quantamental approach is that the subjectivity of investing is replaced by an objective, quantitative and data-driven approach.

The WaveFront Fund’s portfolio consists primarily of equity securities and options.  However, the Fund may invest in other financial instruments including fixed income securities, commodity interests, and currency exchange transactions in U.S. markets and, to a lesser extent, in foreign and emerging markets.  The Fund may invest in commodity interests through commodity-related exchange traded funds (“ETFs”), in commodities such as gold and oil.  The Fund may also invest in U.S. government agency securities and U.S. government obligations.  The Fund may invest separately, up to 50% of its net assets in preferred stocks, corporate debt securities, and convertibles.  The Fund may also invest up to 15% of its net assets in the aggregate in partnerships, limited partnerships and master limited partnerships (“MLPs”).  The Fund may also invest up to 20% of its net assets in when-issued securities.  The Fund may also invest separately, up to 15% of its net assets in warrants and initial public offerings (“IPOs”).  The Fund may also invest in derivatives in the form of futures contracts and options on futures contracts in pursuing its investment objective.  The Fund implements short positions through short sales of any instrument that the Fund may purchase for investment.  The Fund may use leverage (e.g., by borrowing or through derivatives).  As a result, the sum of the Fund’s investment exposures may at times exceed the amount of assets invested in the Fund, although these exposures may vary over time.  The Fund’s annual portfolio turnover rate will generally exceed 100%.

The investment objective of the WaveFront Fund is to produce positive absolute returns while reducing exposure to general equity market risk.  In pursuing the objective of absolute returns, the Fund’s intent is to provide an investment strategy that offers an opportunity for real, positive, consistent and meaningful rates of return with lower levels of volatility, in any type of economic cycle.  The Fund pursues its investment objective by employing (i) a “core long/short equity” strategy; (ii) a “macro overlay” strategy; and (iii) a risk management strategy.

Core Long/Short Equity Strategy:  This strategy provides long and short exposure to a diversified portfolio of common stocks and options of primarily U.S. companies.  The strategy involves investing in equities (long) the Sub-Advisor expects to increase in value and, to a much lesser degree, selling equities (short) the Sub-Advisor expects to decrease in value.  The strategy will generally have a long bias, except during periods when the Sub-Advisor has a negative outlook towards equity market indices.  Investment decisions are based on the results of the following sector allocation and stock selection process:

· A top-down, quantitative analysis is utilized to identify opportunities by focusing on macroeconomic developments and understanding how businesses and industries are affected by these developments at different points in their respective maturation cycles.  As a result of this analysis, the Sub-Advisor then identifies sectors or stocks that stand to be impacted, and whether that impact will be positive or negative in nature; and

· Quantamental, bottom-up securities analysis identifies stocks with a potential inflection point in a company’s financial metrics and/or operations, as well as business or industry cycle.  A potential for corporate events exists when capital allocation strategies are implemented to deploy funds to acquisitions or changes to shareholder returns policies.  Those exposures, the Sub-Advisor believes, are associated with the potential for excess returns, as well as specific, unique factors associated with sources of pricing inefficiency or potential corporate events.

Macro Overlay Strategy:  This strategy invests in futures contracts, options on futures contracts and other investment companies, including mutual funds and exchange-traded funds (“ETFs”) with the intent of either (i) increasing overall market exposure; or (ii) reducing market exposure and hedging systematic market risk.  The strategy evaluates trends or economic/business cycles, asset class relationships as well as liquidity and financial conditions in the marketplace.  The same top-down, quantitative analysis described in the previous strategy is employed, augmented by technical market information such as volatility and momentum of broad equity market indices, to identify the current equity market environment.  Based on this analysis, the Sub-Advisor will either (i) increase overall market exposure when the equity market environment is anticipated to be more conducive to a buy-and-hold approach (rather than stock selection); or (ii) hedge systematic market risk and decrease overall market exposure by selling short futures contracts and/or shorting ETFs when the equity market environment is expected to be negative.

Risk Management Strategy:  The WaveFront Fund employs a risk management strategy that seeks to (i) minimize the expected volatility of the Fund’s returns; (ii) reduce the downside risk of the Fund during periods of sustained market declines; and (iii) protect the Fund against risks related to extreme and rare events (tail risk) that can result in unexpected and significant losses.  These risk management objectives are achieved by limiting single security, sector and overall market exposures, as well as by employing volatility and drawdown controls.

Volatility is a measure of the deviation of the WaveFront Fund’s return around the average fund return.  Volatility controls seek to minimize the deviation of Fund returns in two principal ways.  First, by targeting portfolio volatility versus simply accepting market volatility, individual positions are continuously calibrated to this target based on the ongoing volatility and correlation of those positions.  Second, at the portfolio level, positions are reduced, pro-rata, if the realized volatility of the portfolio exceeds the targeted portfolio volatility.  The amount of any reduction is proportionate to the degree to which realized portfolio volatility exceeds targeted portfolio volatility.

Drawdown controls aim to limit or mitigate the downside potential of the portfolio, relative to equity indices, during periods of sustained market declines.  At the security level, drawdown limits the amount at risk through trade limits, or stop levels below which positions are exited, as well as Value-at-Risk (“VaR”) limits per security.  VaR is a statistical technique used to measure and quantify the level of financial risk within the portfolio over a specific time frame.

The Sub-Advisor believes that using the combination of these strategies is an effective and powerful approach, particularly in environments that are not conducive to active stock picking or during broad equity market declines.  However, there are no guarantees that the WaveFront Fund will stay within its targeted volatility limit, or be able to limit downside potential to a pre-defined level.  Furthermore, as markets continue to evolve over time, and as the Sub-Advisor is continuously engaged in research, the Sub-Advisor may add, modify, or eliminate strategies with the objective of improving the Fund’s performance.

Risk [Heading]

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Principal Risks

Risk Narrative [Text Block]

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The risks associated with an investment in the WaveFront Fund can increase during times of significant market volatility.  Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time.  Investments in the Fund are subject to the following principal risks:

· Recent Market Events Risk.  U.S. and international markets have experienced significant volatility in recent years.  As a result of this significant volatility, many of the risks discussed herein associated with an investment in the WaveFront Fund may be increased.  Continuing market volatility may have adverse effects on the Fund.

· Stock Market Risk.  Certain stocks selected for the WaveFront Fund’s portfolio may decline in value more than the overall stock market.  Investments are subject to market risk, which may cause the value of the Fund’s investment to decline.

· Equity Risk.  Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence in and perceptions of their issuers change.

· Management Risk.  Investment strategies employed by the Sub-Advisor in selecting investments for the WaveFront Fund may not result in an increase in the value of your investment or in overall performance equal to other investments.

· New Fund Risk.  As a new fund, there can be no assurance that the WaveFront Fund will grow or maintain an economically viable size.

· Options Risk.  Options may be more volatile than direct investments in the underlying securities, involve additional costs, may involve a small initial investment relative to the risk assumed, and may be less liquid than investments directly in the underlying securities.

· Futures Contract Risk.  Futures contracts are subject to the same risks as the underlying investments that they represent, but also may involve risks different from, and possibly greater than, the risks associated with investing directly in the underlying investments.  Investments in futures may result in a substantial loss in a short period.  The loss may be potentially unlimited and may be more than the original investment.

· Derivatives Risk.  Investing in derivatives, specifically futures contracts, may subject the WaveFront Fund to losses if the derivatives do not perform as expected.

· Leverage Risk.  Leveraging may exaggerate the effect on net asset value of any increase or decrease in the market value of the WaveFront Fund’s portfolio.

· Short Selling Risk.  If the value of a security sold short increases prior to the scheduled delivery date the WaveFront Fund will lose money, since the Fund must pay more for the security than it has received from the purchaser in the short sale.

· Other Investment Companies and ETFs Risk.  You will indirectly bear fees and expenses charged by the underlying funds in which the WaveFront Fund may invest in addition to the Fund’s direct fees and expenses and, as a result, your cost of investing in the Fund will generally be higher than the cost of investing directly in the underlying fund shares.  Investments in ETFs bear the risk that the market price of the ETF’s shares may trade at a discount to their net asset value (“NAV”) or that an active trading market for an ETF’s shares may not develop or be maintained.

· Fixed Income Securities and Corporate Debt Risk.  Fixed income securities held by the WaveFront Fund are subject to interest rate risk, call risk, prepayment and extension risk, credit risk, and high yield securities risk.

· Commodity Risk.  Exposure to commodity markets through investments in commodity-linked instruments may subject the WaveFront Fund to greater volatility than investments in traditional securities.  This difference is because the value of companies in commodity-related businesses may be affected by overall market movements and other factors affecting the value of a particular industry or commodity, such as weather, disease, embargoes, or political and regulatory developments.

· Currency Risk. Fluctuations in currency exchange rates will negatively affect securities denominated in, and/or receiving revenues in, foreign currencies.  Adverse changes in currency exchange rates (relative to the U.S. dollar) may erode or reverse any potential gains from the WaveFront Fund’s investment in securities denominated in a foreign currency or may widen existing losses.

· Foreign Securities Risk.  Foreign securities may involve more risks than those associated with U.S. investments.  The economies of foreign countries may differ from the U.S. economy in such respects as growth of gross domestic product, rate of inflation, capital reinvestment, and resource self-sufficiency.  Additional risks include currency fluctuations, political and economic instability, imposition of foreign withholding taxes, differences in financial reporting standards and less stringent regulation of securities markets.

· Emerging Market Risk.  The WaveFront Fund may invest in foreign securities of emerging market-domiciled companies.  In addition to the risks of foreign securities in general, countries in emerging markets can have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries and securities markets that trade a small number of issues.

· Government-Sponsored Entities Risk. There is no assurance the U.S. Government will provide financial support on securities issued or guaranteed by the U.S. Government, its agencies and instrumentalities.

· Preferred Stock Risk.  Preferred stock is subject to the risk that the dividend on the stock may be changed or omitted by the issuer, and that participation in the growth of an issuer may be limited.

· Convertible Securities Risk.  Convertible securities are subject to many of the same risks as regular fixed-income securities, including the risk that when market interest rates rise, the value of the convertible security falls, and in the event of a liquidation of the issuing company, holders of convertible securities generally would be paid after the company’s creditors but before the company’s common shareholders.

· Master Limited Partnership Risk.  Limited partners in an MLP typically have limited control and limited rights to vote on matters affecting the partnership.  There also are certain tax risks associated with the MLPs in which the WaveFront Fund may invest, including the possibility that the Internal Revenue Service could challenge the federal income tax treatment of the MLPs in which the Fund invests.

· When-Issued Securities Risk.  The price or yield obtained in a when-issued transaction may be less favorable than the price or yield available in the market when the instruments’ delivery takes place; additionally, failure of a party to a transaction to consummate the trade may result in a loss to the WaveFront Fund or missing an opportunity to obtain a price considered advantageous.

· Warrants Risk.  Investments in warrants involve certain risks, including the possible lack of a liquid market for resale of the warrants, potential price fluctuations as a result of speculation or other factors, and failure of the price of the underlying security to reach or have reasonable prospects of reaching a level at which the warrant can be prudently exercised (in which event the warrant may expire without being exercised, resulting in a loss of the WaveFront Fund’s entire investment therein).

· Initial Public Offerings Risk.  The market value of IPO shares may fluctuate considerably due to factors such as the absence of a prior public market, unseasoned trading, the small number of shares available for trading, and limited information about the issuer.  The purchase of IPO shares may involve high transaction costs.  IPO shares are subject to market risk and liquidity risk.  When the WaveFront Fund’s asset base is small, a significant portion of the Fund’s performance could be attributable to investments in IPOs, because such investments would have a magnified impact on the Fund.

· High Portfolio Turnover Rate Risk.  The WaveFront Fund may have a relatively high turnover rate compared to many mutual funds.  A high portfolio turnover rate (100% or more) has the potential to result in increased brokerage transaction costs which may lower the Fund’s returns.  Furthermore, a high portfolio turnover rate may result in the realization by the Fund, and distribution to shareholders, of a greater amount of short-term capital gains than if the Fund had a low portfolio turnover rate.  Distributions to shareholders of short-term capital gains are taxed as ordinary income under federal income tax laws.  This could result in a higher tax liability and may lower an investor’s after-tax return.

· Cybersecurity Risk.  With the increased use of technologies such as the Internet to conduct business, the WaveFront Fund is susceptible to operational, information security, and related risks.  Cyber incidents affecting the Fund or its service providers may cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs.

Risk Lose Money [Text]

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Remember, in addition to possibly not achieving your investment goals, you could lose all or a portion of your investment in the Fund over long or even short periods of time

Bar Chart and Performance Table [Heading]

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Performance

Performance Narrative [Text Block]

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Simultaneous with the commencement of the WaveFront Fund’s investment operations on October 16, 2017, BC Capital Investors, L.P., a limited partnership managed by the Sub-Advisor (the “Predecessor Partnership”), converted into the Institutional Class shares of the Fund by contributing all of its assets to the Fund in exchange for Institutional Class shares of the Fund. From its inception through October 16, 2017, the Predecessor Partnership maintained investment policies, objectives, guidelines, and restrictions that were, in all material respects, equivalent to those of the Fund, and at the time of the conversion, the Predecessor Partnership was managed by the same portfolio managers as the Fund and such portfolio managers managed the Predecessor Partnership since its inception in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund.  The Fund’s performance for periods before October 16, 2017 is that of the Predecessor Partnership and includes the expenses of the Predecessor Partnership.  The performance includes gains or losses plus income and the reinvestment of all dividends and interest.  All returns reflect the deduction of all actual fees and expenses, paid by the Predecessor Partnership, without provision for state or local taxes. If the Predecessor Partnership’s performance was adjusted to reflect the projected first year expenses of the Fund, the performance for all periods would have been lower than that stated.

The performance returns of the Predecessor Partnership are audited.  The Predecessor Partnership was not registered under the 1940 Act, and was not subject to certain investment limitations, diversification requirements, and other restrictions imposed by the 1940 Act and the Internal Revenue Code of 1986, as amended (the “Code”), which, if applicable, may have adversely affected its performance.  On a going forward basis after October 16, 2017, the Fund’s performance is calculated using the standard formula set forth in rules promulgated by the SEC, which differs in certain respects from the methods used to compute total returns for the Predecessor Partnership.  Please refer to the Financial Statements section of the SAI to review additional information regarding the Predecessor Partnership.

The following information provides some indication of the risks of investing in the WaveFront Fund.  The bar chart shows the Fund’s and the Predecessor Partnership’s annual returns from year to year, as applicable.  The performance shown is that of the Predecessor Partnership for periods prior to October 16, 2017. The table shows how the Fund’s average annual returns for the one-, five-, and ten-year and since inception periods compare with those of a broad measure of market performance. The table also shows how the Fund’s returns compare with the returns of an index of funds with similar investment objectives as well as how the returns compare to a category of funds with similar investment objectives.  The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.  Updated performance information is available on the Fund’s website at www.usamutuals.com.

Performance Information Illustrates Variability of Returns [Text]

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The following information provides some indication of the risks of investing in the WaveFront Fund.

Performance Availability Website Address [Text]

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www.usamutuals.com

Performance Past Does Not Indicate Future [Text]

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The Fund’s past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future.

Bar Chart [Heading]

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WaveFront Fund – Institutional Class Shares Calendar Year Total Returns as of December 31,*

Bar Chart Closing [Text Block]

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The calendar year-to-date return for the WaveFront Fund’s Institutional Class shares as of June 30, 2018 was -2.75%.  During the period of time shown in the bar chart, the highest return for a calendar quarter was 16.21% (quarter ended June 30, 2008) and the lowest return for a calendar quarter was -10.52% (quarter ended September 30, 2008).

Year to Date Return, Label

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year-to-date return

Bar Chart, Year to Date Return, Date

rr_BarChartYearToDateReturnDate

Jun. 30, 2018

Bar Chart, Year to Date Return

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(2.75%)

Highest Quarterly Return, Label

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highest return

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Jun. 30, 2008

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

16.21%

Lowest Quarterly Return, Label

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lowest return

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Sep. 30, 2008

Lowest Quarterly Return

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(10.52%)

Index No Deduction for Fees, Expenses, Taxes [Text]

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(reflects no deduction for fees, expenses, or taxes)

Performance Table Uses Highest Federal Rate

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After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.

Performance Table Not Relevant to Tax Deferred

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Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who are exempt from tax or hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).

Performance Table Closing [Text Block]

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After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.  Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who are exempt from tax or hold their Fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts (“IRAs”).  After-tax returns shown prior to October 16, 2017, were calculated as if the Predecessor Partnership had qualified as a regulated investment company for federal income tax purposes.

Caption

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Average Annual Total Returns (For the periods ended December 31, 2017)

USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund | ICE BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index (reflects no deduction for fees, expenses, or taxes)

Risk/Return:

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Label

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ICE BofA Merrill Lynch 0-3 Month U.S. Treasury Bill Index (reflects no deduction for fees, expenses, or taxes)

Average Annual Returns, 1 Year

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0.86%

^[1]

Average Annual Returns, 5 Years

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0.27%

^[1]

Average Annual Returns, 10 Years

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0.39%

^[1]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

1.30%

^[1]

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Feb. 28, 2002

USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund | USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares

Risk/Return:

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Shareholder Fees (fees paid directly from your investment)

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none

Management Fees

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1.25%

Other Expenses

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3.15%

Acquired Fund Fees and Expenses

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0.07%

^[2]

Total Annual Fund Operating Expenses

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4.47%

Less: Fee Waiver/Expense Reimbursement

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(3.11%)

Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement

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1.36%

^[3],[4]

Expense Example, with Redemption, 1 Year

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$ 138

Expense Example, with Redemption, 3 Years

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1,070

Expense Example, with Redemption, 5 Years

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2,011

Expense Example, with Redemption, 10 Years

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$ 4,409

Annual Return 2008

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(3.45%)

Annual Return 2009

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19.25%

Annual Return 2010

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14.12%

Annual Return 2011

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(3.63%)

Annual Return 2012

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0.77%

Annual Return 2013

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18.08%

Annual Return 2014

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3.64%

Annual Return 2015

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(0.19%)

Annual Return 2016

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1.12%

Annual Return 2017

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4.53%

Label

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Return Before Taxes

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

4.53%

^[1]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

5.24%

^[1]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

5.60%

^[1]

Average Annual Returns, Since Inception

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6.90%

^[1]

Average Annual Returns, Inception Date

rr_AverageAnnualReturnInceptionDate

Feb. 28, 2002

USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund | USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares | After Taxes on Distributions

Risk/Return:

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Label

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

4.17%

^[1]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

5.17%

^[1]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

5.56%

^[1]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

6.88%

^[1]

USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund | USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Institutional Class Shares | After Taxes on Distributions and Sale of Fund Shares

Risk/Return:

rr_RiskReturnAbstract

Label

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Return After Taxes on Distributions and Sale of Fund Shares

Average Annual Returns, 1 Year

rr_AverageAnnualReturnYear01

2.78%

^[1]

Average Annual Returns, 5 Years

rr_AverageAnnualReturnYear05

4.08%

^[1]

Average Annual Returns, 10 Years

rr_AverageAnnualReturnYear10

4.49%

^[1]

Average Annual Returns, Since Inception

rr_AverageAnnualReturnSinceInception

5.76%

^[1]

USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund | USA Mutuals/WaveFront Hedged Quantamental Opportunities Fund - Class Z Shares

Risk/Return:

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Shareholder Fees (fees paid directly from your investment)

rr_ShareholderFeeOther

none

Management Fees

rr_ManagementFeesOverAssets

1.25%

Other Expenses

rr_OtherExpensesOverAssets

3.15%

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.07%

^[2]

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

4.47%

Less: Fee Waiver/Expense Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(3.11%)

Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement

rr_NetExpensesOverAssets

1.36%

^[3],[4]

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

$ 138

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

1,070

Expense Example, with Redemption, 5 Years

rr_ExpenseExampleYear05

2,011

Expense Example, with Redemption, 10 Years

rr_ExpenseExampleYear10

$ 4,409

[1] The returns shown prior to October 16, 2017, are those of the Predecessor Partnership. Total returns were calculated based on the change in value during the year of a hypothetical investment, adjusted for contributions and withdrawals, as appropriate, made at the beginning of the year by a limited partner. An individual limited partner's return may have varied from this return based on the timing of capital transactions, participation or non-participation in new issues and the extent to which an individual limited partner's reallocation of profits to the Advisor differs from the average reallocation for all limited partners.

[2] As the WaveFront Fund is newer, Other Expenses are based on estimated amounts for the Fund's current fiscal year.

[3] Please note that Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement in the table above do not correlate to the ratio of expenses to average net assets found within the "Financial Highlights" section of this prospectus because AFFE is not included in the ratio.

[4] USA Mutuals Advisors, Inc. (the "Advisor"), the WaveFront Fund's investment advisor, has contractually agreed to limit the Fund's total annual fund operating expenses (exclusive of front-end or contingent deferred loads, shareholder servicing plan fees, taxes, interest and dividends on short positions, brokerage, acquired fund fees and expenses ("AFFE"), extraordinary expenses and class specific expenses like distribution (12b-1) fees (collectively, "Excluded Expenses")) to 1.29% of average net assets of the Fund through July 31, 2019, with such renewal terms of one year, each measured from the date of renewal, as may be approved by the Board of Trustees. To the extent the Fund incurs Excluded Expenses, Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement may be greater than 1.29%. The current term of the agreement may only be terminated by the Board of Trustees. The Advisor may request recoupment of previously waived fees and paid expenses from the Fund for three years from the date such fees and expenses were waived or paid by the Advisor, subject to the operating expense limitation agreement, if such reimbursement will not cause the Fund to exceed the lesser of: (1) the expense limitation in place at the time of the waiver and/or expense payment; or (2) the expense limitation in place at the time of the recoupment.

XML

Label	Element	Value
Risk/Return:	rr_RiskReturnAbstract
Prospectus Date	rr_ProspectusDate	Jul. 27, 2018