XML 10 R6.htm IDEA: XBRL DOCUMENT v3.6.0.2
Label Element Value
Prospectus [Line Items] rr_ProspectusLineItems  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Jan. 10, 2017
Registrant Name dei_EntityRegistrantName Northern Lights Variable Trust
Central Index Key dei_EntityCentralIndexKey 0001352621
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol nlvt
Document Creation Date dei_DocumentCreationDate Jan. 10, 2017
Document Effective Date dei_DocumentEffectiveDate Jan. 10, 2017
Prospectus Date rr_ProspectusDate Jan. 10, 2017
Power Income VIT Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading

FUND SUMMARY
Objective [Heading] rr_ObjectiveHeading

Investment Objectives:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Fund’s primary investment objective is total return from income and capital appreciation
Objective, Secondary [Text Block] rr_ObjectiveSecondaryTextBlock

with capital preservation as a secondary objective.
Expense [Heading] rr_ExpenseHeading

Fees and Expenses of the Fund:
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the annual operating expenses that you may indirectly pay if you invest in the Fund through your retirement plan or if you allocate your insurance contract premiums or payments to the Fund. However, each insurance contract and separate account involves fees and expenses that are not described in this Prospectus. If the fees and expenses of your insurance contract or separate account were included in this table, your overall expenses would be higher. You should review the insurance contract prospectus for a complete description of fees and expenses. In the table below, Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies.
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)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading

Portfolio Turnover:
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its Fund). These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund’s performance. A higher portfolio turnover rate may indicate higher transaction costs. During the most recent fiscal year, the Fund’s portfolio turnover rate was 459% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 459.00%
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.
Expense Example [Heading] rr_ExpenseExampleHeading

Example:
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. You would pay the same expenses if you did not redeem your shares. However, each insurance contract and separate account involves fees and expenses that are not included in the Example. If these fees and expenses were included in the Example, your overall expenses would be higher. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies:
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund’s investment adviser seeks to achieve the Fund’s primary investment objective by investing primarily in a diversified portfolio of income-producing high-yield fixed income securities, commonly known as “junk” bonds, and U.S. Treasury securities. The Fund defines junk bonds as those rated lower than Baa3 by Moody’s Investors Service (“Moody’s”) or lower than BBB- by Standard and Poor’s Rating Group (“S&P”), or, if unrated, determined by the adviser to be of similar credit quality. The adviser does not select individual bonds or other fixed income securities but instead, invests the Fund’s assets in open end investment companies (“mutual funds”) and exchange traded funds (“ETFs”) that each invest primarily in junk bonds or U.S. Treasury securities.

 

The adviser seeks to achieve the Fund’s secondary investment objective by hedging the Fund’s investment portfolio when it believes security prices will decline. The adviser will hedge by increasing allocations to cash equivalents or U.S. Treasury securities, or by purchasing inverse mutual funds or inverse ETFs. The adviser may invest in inverse funds linked to the S&P 500 Index when it believes this strategy will provide an effective hedge for junk bond holdings and may invest in inverse funds linked to U.S. Treasury securities when it believes this strategy will provide an effective hedge for interest rate risk. Inverse funds typically lose value as the index or security tracked by the fund increases in value; a result that is the opposite from traditional funds. The Fund limits inverse investments, in total, to 50% of Fund assets.

 

The adviser selects mutual funds and ETFs without restriction as to minimum issuer credit quality, sector, country of origin, or security maturity with respect to the fixed income securities held by these funds. The Fund may invest in mutual funds and ETFs that employ derivatives, such as swap contracts, to obtain exposure to junk or U.S. Treasury bond returns. The Fund does not invest in derivatives directly and will limit investment in mutual funds and ETFs that invest primarily in derivatives to 50% of Fund assets.

 

The adviser buys traditional securities (mutual funds and ETFs) when it believes prices are stable or improving and sells them when it believes prices will fall. The adviser buys and sells inverse securities for hedging purposes. The adviser may engage in frequent buying and selling of securities to achieve the Fund’s investment objectives.
Risk [Heading] rr_RiskHeading

Principal Investment Risks:
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. Many factors affect the Fund’s net asset value and performance.

 

The following risks apply to the Fund through its investments in ETFs and mutual funds.

 

• Derivatives Risk: Derivatives are subject to credit risk and liquidity risk. Additionally, even a small investment in derivatives (which include options, futures, swap contracts and other transactions) may give rise to leverage risk, and can have a significant impact on the Fund’s performance.

 

• Duration Risk: Longer-term securities may be more sensitive to interest rate changes. Given the recent, historically low interest rates and the potential for increases in those rates, a heightened risk is posed by rising interest rates to a fund whose portfolios include longer-term fixed income securities.

 

• Fixed Income Risk: When the Fund invests in fixed income securities, the value of the Fund will fluctuate with changes in interest rates. Defaults by fixed income issuers in which the Fund invests will also harm performance. Recently, interest rates have been historically low. Current conditions may result in a rise in interest rates, which in turn may result in a decline in the value of the fixed income investments held by the fund. As a result, for the present, interest rate risk may be heightened.

 

• Hedging Risk: Inverse mutual funds and inverse ETFs may not effectively hedge the Fund’s junk bond holdings or interest rate risk.

 

• Junk Bond Risk: Lower-quality bonds, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund’s ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund’s share price.

 

• Liquidity Risk: Liquidity risk exists when particular investments are difficult to purchase or sell. This can reduce the fund’s returns because the fund may be unable to transact at advantageous times or prices. Recently, interest rates have been historically low. Current conditions may result in a rise in interest rates, and a potential rise in interest rates may result in periods of volatility and increased redemptions. As a result of increased redemptions, the fund may have to liquidate portfolio securities at disadvantageous prices and times, which could reduce the returns of the fund. The reduction in dealer market-making capacity in the fixed income markets that has occurred in recent years also has the potential to decrease liquidity.

 

• Management Risk: The adviser’s judgments about the attractiveness, value and potential appreciation of particular security in which the Fund invests may prove to be incorrect and may not produce the desired results.

 

• Mutual Fund and ETF Risk: Mutual funds and ETFs are subject to investment advisory fees and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund will be higher than the cost of investing directly in other mutual funds and ETFs and may be higher than other mutual funds that invest directly in fixed income securities. Inverse mutual funds tend to limit the Fund’s participation in overall market-wide gains. Each ETF and mutual fund is subject to specific risks, depending on the nature of the fund.

 

• Turnover Risk: A higher portfolio turnover will result in higher transactional and brokerage costs.
Risk Lose Money [Text] rr_RiskLoseMoney As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

Performance:
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The bar chart and performance table set out below help show the returns and risks of investing in the Fund. The bar chart shows performance of the Class 2 shares of the Fund for each full calendar year since the Fund’s inception. The performance table compares the performance of the Fund over time to the performance of a broad-based securities market index. You should be aware that the Fund’s past performance may not be an indication of how the Fund will perform in the future. Updated performance information is available at no cost by visiting www.powerincomefund.com or by calling 1-877-7-PWRINC (1-877-779-7462).
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and performance table set out below help show the returns and risks of investing in the Fund. The bar chart shows performance of the Class 2 shares of the Fund for each full calendar year since the Fund's inception.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-877-7-PWRINC (1-877-779-7462)
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.powerincomefund.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture You should be aware that the Fund’s past performance may not be an indication of how the Fund will perform in the future.
Bar Chart [Heading] rr_BarChartHeading

Performance Bar Chart for Calendar Years Ended December 31

 [1]
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

Best Quarter:

4th Quarter 2013

2.24%

Worst Quarter:

3rd Quarter 2014

(2.41)%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2013
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 2.24%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2014
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.41%)
Performance Table Heading rr_PerformanceTableHeading

Performance Table

Average Annual Total Returns

(For periods ended December 31, 2015)
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes Index does not reflect any fees or expenses.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock

The Barclays Aggregate Bond Index is a market capitalization-weighted index, meaning the securities in the index are weighted according to the market size of each bond type. Most U.S. traded investment grade bonds are represented. Municipal bonds and Treasury Inflation-Protected Securities are excluded, due to tax treatment issues. The index includes U.S. Treasury securities, Government agency bonds, mortgage-backed bonds, corporate bonds, and a small amount of foreign bonds traded in U.S. Unlike the Fund’s returns, the Barclays Aggregate Bond Index does not reflect any fees or expenses. An investor cannot invest directly in an index.
Power Income VIT Fund | Barclays Aggregate Bond Index  
Prospectus [Line Items] rr_ProspectusLineItems  
1 Year rr_AverageAnnualReturnYear01 0.55%
Since Inception rr_AverageAnnualReturnSinceInception 1.93%
Power Income VIT Fund | Class 1 Shares  
Prospectus [Line Items] rr_ProspectusLineItems  
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 0.76%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.32% [2]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 2.08%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 211
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 652
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,119
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,410
1 Year rr_AverageAnnualReturnYear01 (0.83%)
Since Inception rr_AverageAnnualReturnSinceInception 2.32%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2012
Power Income VIT Fund | Class 2 Shares  
Prospectus [Line Items] rr_ProspectusLineItems  
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 0.76%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.32% [2]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 2.58%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 261
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 802
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,370
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,915
Annual Return 2013 rr_AnnualReturn2013 4.60%
Annual Return 2014 rr_AnnualReturn2014 (1.08%)
Annual Return 2015 rr_AnnualReturn2015 (2.51%)
1 Year rr_AverageAnnualReturnYear01 (2.51%)
Since Inception rr_AverageAnnualReturnSinceInception 0.97%
Inception Date rr_AverageAnnualReturnInceptionDate Apr. 30, 2012
[1] The returns are for Class 2 Shares, which have substantially similar annual returns as the Class 1 shares because the shares are invested in the same portfolio of securities and the returns for Class 1 Shares would differ only to the extent that the classes do not have the same expenses.
[2] Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.