Shareholder Report | 12 Months Ended |
Jun. 30, 2024 USD ($) $ / shares |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | Absolute Shares Trust |
Entity Central Index Key | 0001591939 |
Entity Investment Company Type | N-1A |
Document Period End Date | Jun. 30, 2024 |
WBI BullBear Value 3000 ETF | |
Shareholder Report [Line Items] | |
Fund Name | WBI BullBear Value 3000 ETF |
Class Name | WBI BullBear Value 3000 ETF |
Trading Symbol | WBIF |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the WBI BullBear Value 3000 ETF for the period of July 1, 2023, to June 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://wbietfs.com/documents/ . You can also request this information by contacting us at 1-800-772-5810 . |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. |
Additional Information Phone Number | 1-800-772-5810 |
Additional Information Website | https://wbietfs.com/documents/ |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Fund Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment WBI BullBear Value 3000 ETF $137 1.36% |
Expenses Paid, Amount | $ 137 |
Expense Ratio, Percent | 1.36% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the 12-month period ended June 30, 2024, the Fund underperformed its benchmark, the S&P 500 Index. Over the period, the WBI BullBear Value 3000 ETF (“WBI Value”) faced several challenges that influenced its performance. Overall, the Fund’s strategic positioning adjustments and sector allocations played a crucial role in its performance relative to the S&P 500 Index. The Fund’s underperformance was primarily due to its reduced allocation weight in mega-cap growth and technology stocks compared to the S&P 500 Index. Additionally, notable underperformance in the U.S. Communication Services, Consumer Staples, and Industrial Sectors further contributed to the Fund’s lagging returns. On the positive side, the Fund benefited from its positions in the Financials, Consumer Discretionary and Utilities sectors, which provided notable contributions to relative performance. Going forward, we continue to monitor market trends and adjust our allocations to align with evolving market dynamics. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year 5 Year Since Inception (08/25/2014) WBI BullBear Value 3000 ETF NAV 1.57 2.47 2.54 WBI BullBear Value 3000 ETF Market 1.47 2.47 2.53 S&P 500 TR 24.56 15.05 12.82 Russell 3000 Value Total Return 12.93 8.89 8.11 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Visit https://wbietfs.com/documents/ for more recent performance information. Visit https://wbietfs.com/documents/ for more recent performance information. |
Net Assets | $ 32,998,899 |
Holdings Count | $ / shares | 27 |
Advisory Fees Paid, Amount | $ 268,103 |
Investment Company Portfolio Turnover | 742% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of June 30, 2024) Net Assets $32,998,899 Number of Holdings 27 Net Advisory Fee $268,103 Portfolio Turnover 742% |
Holdings [Text Block] | Top 10 Issuers (% of net assets) Mount Vernon Liquid Assets Portfolio, LLC 8.4% Lam Research Corp. 5.6% iShares Broad USD High Yield Corporate Bond ETF 5.1% Tradeweb Markets, Inc. 4.5% Intuit, Inc. 4.4% Broadridge Financial Solutions, Inc. 4.3% Universal Health Services, Inc. 4.2% Reinsurance Group of America, Inc. 4.2% Blackstone, Inc. 4.1% Dick’s Sporting Goods, Inc. 4.1% |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? This is a summary of certain changes to the Fund since July 1, 2023. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by October 30, 2024 at https://wbietfs.com/documents/ or upon request at 1-800-772-5810 or https://wbietfs.com/wp-content/uploads/pdf/AB_SH_PRO.pdf . |
Updated Prospectus Phone Number | 1-800-772-5810 |
Updated Prospectus Web Address | https://wbietfs.com/documents/ |
WBI BullBear Yield 3000 ETF | |
Shareholder Report [Line Items] | |
Fund Name | WBI BullBear Yield 3000 ETF |
Class Name | WBI BullBear Yield 3000 ETF |
Trading Symbol | WBIG |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the WBI BullBear Yield 3000 ETF for the period of July 1, 2023, to June 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://wbietfs.com/documents/ . You can also request this information by contacting us at 1-800-772-5810 . |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. |
Additional Information Phone Number | 1-800-772-5810 |
Additional Information Website | https://wbietfs.com/documents/ |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Fund Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment WBI BullBear Yield 3000 ETF $131 1.28% |
Expenses Paid, Amount | $ 131 |
Expense Ratio, Percent | 1.28% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the 12-month period ended June 30, 2024, the Fund underperformed its benchmark, the S&P 500 Index. Over the period, the WBI BullBear Yield 3000 ETF (the “WBI Yield”) faced several challenges that influenced its performance. Overall, the Fund’s strategic positioning adjustments and sector allocations played a crucial role in its performance relative to the S&P 500 Index. The Fund’s underperformance was primarily due to its reduced allocation weight in mega-cap growth and technology stocks compared to the S&P 500 Index. This strategic underweight in sectors that experienced significant growth, such as technology, hampered relative performance. Additionally, notable underperformance in the U.S. Health Care, Communication Services and Materials Sectors. On the positive side, the Fund benefited from its positions in the Financials, Consumer Discretionary and Consumer Staples sectors, which provided notable contributions to relative performance. Going forward, we continue to monitor market trends and adjust our allocations to align with evolving market dynamics. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year 5 Year Since Inception (08/25/2014) WBI BullBear Yield 3000 ETF NAV 4.88 1.68 1.08 WBI BullBear Yield 3000 ETF Market 4.85 1.71 1.07 S&P 500 TR 24.56 15.05 12.82 Russell 3000 Value Total Return 12.93 8.89 8.11 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Visit https://wbietfs.com/documents/ for more recent performance information. Visit https://wbietfs.com/documents/ for more recent performance information. |
Net Assets | $ 43,806,751 |
Holdings Count | $ / shares | 30 |
Advisory Fees Paid, Amount | $ 390,186 |
Investment Company Portfolio Turnover | 641% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of June 30, 2024) Net Assets $43,806,751 Number of Holdings 30 Net Advisory Fee $390,186 Portfolio Turnover 641% |
Holdings [Text Block] | Top 10 Issuers (% of net assets) iShares Broad USD High Yield Corporate Bond ETF 9.7% Mount Vernon Liquid Assets Portfolio, LLC 4.6% Janus Henderson Group PLC 4.6% Tradeweb Markets, Inc. 4.5% Lam Research Corp. 4.4% Automatic Data Processing, Inc. 4.4% TJX Cos., Inc. 4.3% Palo Alto Networks, Inc. 4.3% Prudential Financial, Inc. 4.3% Marsh & McLennan Cos., Inc. 4.2% |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? This is a summary of certain changes to the Fund since July 1, 2023. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by October 30, 2024 at https://wbietfs.com/documents/ or upon request at 1-800-772-5810 or https://wbietfs.com/wp-content/uploads/pdf/AB_SH_PRO.pdf. |
Updated Prospectus Phone Number | 1-800-772-5810 |
Updated Prospectus Web Address | https://wbietfs.com/documents/ |
WBI BullBear Quality 3000 ETF | |
Shareholder Report [Line Items] | |
Fund Name | WBI BullBear Quality 3000 ETF |
Class Name | WBI BullBear Quality 3000 ETF |
Trading Symbol | WBIL |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the WBI BullBear Quality 3000 ETF for the period of July 1, 2023, to June 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://wbietfs.com/documents/ . You can also request this information by contacting us at 1-800-772-5810 . |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. |
Additional Information Phone Number | 1-800-772-5810 |
Additional Information Website | https://wbietfs.com/documents/ |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Fund Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment WBI BullBear Quality 3000 ETF $141 1.32% |
Expenses Paid, Amount | $ 141 |
Expense Ratio, Percent | 1.32% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the 12-month period ended June 30, 2024, the Fund underperformed its benchmark, the S&P 500 Index. Over the period, the WBI BullBear Quality 3000 ETF (“WBI Quality”) faced several challenges that influenced its performance. Overall, the Fund’s strategic positioning adjustments and sector allocations played a crucial role in its performance relative to the S&P 500 Index. The Fund’s underperformance was primarily due to its reduced allocation weight in mega-cap growth and technology stocks compared to the S&P 500 Index. Additionally, notable underperformance in the U.S. Health Care, Energy, and Communication Services sectors further contributed to the Fund’s lagging returns. On the positive side, the Fund benefited from its positions in the Financials, Information Technology, and Consumer Discretionary sectors, which provided notable contributions to relative performance. Going forward, we continue to monitor market trends and adjust our allocations to align with evolving market dynamics. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year 5 Year Since Inception (08/25/2014) WBI BullBear Quality 3000 ETF NAV 14.33 4.99 3.70 WBI BullBear Quality 3000 ETF Market 14.30 5.00 3.69 S&P 500 TR 24.56 15.05 12.82 Russell 3000 Total Return 23.13 14.14 12.15 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Visit https://wbietfs.com/documents/ for more recent performance information. Visit https://wbietfs.com/documents/ for more recent performance information. |
Net Assets | $ 39,246,257 |
Holdings Count | $ / shares | 33 |
Advisory Fees Paid, Amount | $ 310,089 |
Investment Company Portfolio Turnover | 672% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of June 30, 2024) Net Assets $39,246,257 Number of Holdings 33 Net Advisory Fee $310,089 Portfolio Turnover 672% |
Holdings [Text Block] | Top 10 Issuers (% of net assets) iShares Broad USD High Yield Corporate Bond ETF 5.1% Spotify Technology SA 4.9% Alphabet, Inc. 4.9% Progressive Corp. 4.6% Howmet Aerospace, Inc. 4.4% Automatic Data Processing, Inc. 4.4% Boston Scientific Corp. 4.2% Eaton Corp. PLC 4.2% Apollo Global Management, Inc. 4.1% KB Home 4.0% |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? This is a summary of certain changes to the Fund since July 1, 2023. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by October 30, 2024 at https://wbietfs.com/documents/ or upon request at 1-800-772-5810 or https://wbietfs.com/wp-content/uploads/pdf/AB_SH_PRO.pdf. |
Updated Prospectus Phone Number | 1-800-772-5810 |
Updated Prospectus Web Address | https://wbietfs.com/documents/ |
WBI Power Factor High Dividend ETF | |
Shareholder Report [Line Items] | |
Fund Name | WBI Power Factor High Dividend ETF |
Class Name | WBI Power Factor High Dividend ETF |
Trading Symbol | WBIY |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the WBI Power Factor High Dividend ETF for the period of July 1, 2023, to June 30, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://wbietfs.com/documents/ . You can also request this information by contacting us at 1-800-772-5810 . |
Material Fund Change Notice [Text Block] | This report describes changes to the Fund that occurred during the reporting period. |
Additional Information Phone Number | 1-800-772-5810 |
Additional Information Website | https://wbietfs.com/documents/ |
Expenses [Text Block] | WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment) Fund Name Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment WBI Power Factor High Dividend ETF $91 0.84% |
Expenses Paid, Amount | $ 91 |
Expense Ratio, Percent | 0.84% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE? For the 12-month period ended June 30, 2024, the Fund underperformed its benchmark, the S&P 500 Index. Over the period, the WBI Power Factor High Dividend ETF (“WBI PF High Dividend”) faced several challenges that influenced its performance. Overall, the Fund’s high-yielding dividend paying stocks and sector allocations played a crucial role in its performance relative to the S&P 500 Index. The Funds mandate is to replicate the performance of the Solactive Power Factor High Dividend Index, which allocates to U.S. high-yielding dividend paying stocks with quality fundamental factor. The Fund’s underperformance was primarily due to its reduced allocation weight in mega-cap growth and technology stocks compared to the S&P 500 Index. Notable underperformance in the U.S. Industrials and Health Care was offset by positions in the Financials, Energy, Communication Services, which provided notable contributions to relative performance. Going forward, we continue to monitor market trends and align allocations with the Solactive Power Factor High Dividend Index. |
Performance Past Does Not Indicate Future [Text] | The Fund’s past performance is not a good predictor of the Fund’s future performance. |
Line Graph [Table Text Block] | |
Average Annual Return [Table Text Block] | ANNUAL AVERAGE TOTAL RETURN (%) 1 Year 5 Year Since Inception (12/19/2016) WBI Power Factor High Dividend ETF NAV 16.97 8.54 7.29 WBI Power Factor High Dividend ETF Market 16.71 8.56 7.28 S&P 500 TR 24.56 15.05 14.41 Solactive Power Factor High Dividend GTR Index 17.58 9.18 8.42 |
No Deduction of Taxes [Text Block] | The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Updated Performance Information Location [Text Block] | Visit https://wbietfs.com/documents/ for more recent performance information. Visit https://wbietfs.com/documents/ for more recent performance information. |
Net Assets | $ 59,512,432 |
Holdings Count | $ / shares | 51 |
Advisory Fees Paid, Amount | $ 236,780 |
Investment Company Portfolio Turnover | 152% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of June 30, 2024) Net Assets $59,512,432 Number of Holdings 51 Net Advisory Fee $236,780 Portfolio Turnover 152% |
Holdings [Text Block] | Top 10 Issuers (% of net assets) Mount Vernon Liquid Assets Portfolio, LLC 17.2% AT&T, Inc. 5.7% Altria Group, Inc. 5.4% Best Buy Co., Inc. 5.3% ONEOK, Inc. 5.0% Kinder Morgan, Inc. 4.9% Dominion Energy, Inc. 4.8% Kohl’s Corporation 4.8% Whirlpool Corporation 4.8% Verizon Communications, Inc. 4.7% |
Material Fund Change [Text Block] | HOW HAS THE FUND CHANGED? This is a summary of certain changes to the Fund since July 1, 2023. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by October 30, 2024 at https://wbietfs.com/documents/ or upon request at 1-800-772-5810 or https://wbietfs.com/wp-content/uploads/pdf/AB_SH_PRO.pdf. |
Updated Prospectus Phone Number | 1-800-772-5810 |
Updated Prospectus Web Address | https://wbietfs.com/documents/ |