XML 33 R75.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName VIRTUS OPPORTUNITIES TRUST
Prospectus Date rr_ProspectusDate Jan. 31, 2013
Virtus Emerging Markets Debt Fund
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Virtus Emerging Markets Debt Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The fund has an investment objective of seeking total return from current income and capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock The tables below illustrate all fees and expenses that you may pay if you buy and hold shares of the fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Virtus Mutual Funds. More information about these and other discounts, as well as eligibility requirements for each share class, is available from your financial advisor and under “Sales Charges” on page 193 of the fund’s prospectus and “Alternative Purchase Arrangements” on page 57 of the fund’s 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 January 31, 2014
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 portfolio). A higher portfolio turnover rate may indicate 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 period from inception (September 5, 2012) through its fiscal year end (September 30, 2012), the fund’s portfolio turnover rate was 13% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 13.00%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock Generally, Class A Shares are not subject to any charges by the Fund when redeemed; however, a contingent deferred sales charge may be imposed on certain redemptions within 18 months on exchanges from a Virtus non-money market fund into a Virtus money market fund and purchases on which a finder’s fee has been paid. The 18-month period begins on the last day of the month preceding the month in which the purchase was made. The deferred sales charge is imposed on Class C Shares redeemed during the first year only.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in Virtus Mutual Funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 50,000
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Estimated for current fiscal year.
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. 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 and that the fund’s operating expenses remain the same and that the expense reimbursement arrangement remains in place only for the period indicated. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading Investments, Risks and Performance

Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Under normal circumstances, the Fund invests at least 80% of its assets in fixed income (debt) securities issued by governments, government-related entities and corporations located in emerging market countries. The fund may invest without limit in high yield debt securities and related investments rated below investment grade (that is, securities not rated Baa/BBB or above by at least one nationally recognized statistical rating organization (“NRSRO”), or, if unrated, determined to be of comparable credit quality by the subadviser). Below investment grade securities are commonly referred to as “junk bonds.” These investments include, but are not limited to, instruments designed to restructure outstanding emerging market debt such as participations in loans between governments and financial institutions. The fund manages duration utilizing a duration neutral strategy. Under normal circumstances, the fund’s average duration is maintained at a level similar to that of its benchmark, the JP Morgan Emerging Markets Bond Index (EMBI) Global Diversified. As of September 30, 2012, the modified adjusted duration of the JP Morgan EMBI Global Diversified was 7.41 years. The fund is a non-diversified portfolio.

The fund intends to invest in at least three emerging market countries, which are countries that, at the time of investment, are represented in the JP Morgan Emerging Markets Bond Index Global Diversified or categorized by the World Bank in its annual categorization as middle- or low-income. In determining “location” of an issuer, the subadviser primarily relies on the country where the issuer is incorporated. However, the country of risk is ultimately determined based on analysis of the following criteria: actual building address (domicile), primary exchange on which the security is traded and country in which the greatest percentage of company revenue is generated. This evaluation is conducted so as to determine that the issuer’s assets are exposed to the economic fortunes and risks of the designated country.
Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The fund may not achieve its objective, and it is not intended to be a complete investment program. The value of the fund’s investments that supports your share value may decrease. If between the time you purchase shares and the time you sell shares the value of the fund’s investments decreases, you will lose money. Investment values can decrease for a number of reasons. Conditions affecting the overall economy, specific industries or companies in which the fund invests can be worse than expected, and investments may fail to perform as the subadviser expects. As a result, the value of your shares may decrease. The principal risks of investing in the fund are:
  • Credit Risk. The risk that the issuer of a security will fail to pay interest or principal in a timely manner, or that negative perceptions of the issuer’s ability to make such payments will cause the price of the security to decline.
  • Emerging Market Investing Risk. The risk that prices of emerging markets securities will be more volatile, or will be more greatly affected by negative conditions, than those of their counterparts in more established foreign markets.
  • Foreign Investing Risk. The risk that the prices of foreign securities in the fund’s portfolio will be more volatile than those of domestic securities, or will be negatively affected by economic, political or other developments.
  • Geographic Concentration Risk. The risk that events negatively affecting the geographic location where the fund focuses its investments will cause the value of the fund’s shares to decrease, perhaps significantly.
  • High Yield-High Risk Fixed Income Securities (Junk Bonds) Risk. The risk that the issuers of high yield-high risk securities in the fund’s portfolio will default, that the prices of such securities will be volatile, and that the securities will not be liquid.
  • Interest Rate Risk. The risk that when interest rates rise, the values of the fund’s debt securities, especially those with longer maturities, will fall.
  • Liquidity Risk. The risk that certain securities may be difficult or impossible to sell at a time and price beneficial to the fund.
  • Loan Participation Risk. The risk that there may not be a readily available market for loan participation interests and, in some cases, the fund may have to dispose of such securities at a substantial discount from face value. Loan participations also involve the credit risk associated with the underlying corporate borrower.
  • Market Volatility Risk. The risk that the value of the securities in which the fund invests may go up or down in response to the prospects of individual companies and/or general economic conditions. Price changes may be temporary or may last for extended periods.
  • Non-Diversification Risk. The risk that the fund will be more susceptible to factors negatively impacting the securities in its portfolio to the extent that each such security represents a significant portion of the fund’s assets.
  • Unrated Fixed Income Securities Risk. The risk that the subadviser will be unable to accurately assess the quality of an unrated fixed income security, so that the fund invests in a security with greater risk than intended, or that the liquidity of unrated fixed income securities in which the fund invests will be hindered, making it difficult for the fund to sell them.
  • U.S. Government Securities Risk. The risk that U.S. Government securities in the fund’s portfolio will be subject to price fluctuations, or that an agency or instrumentality will default on an obligation not backed by the full faith and credit of the United States.
Risk Lose Money [Text] rr_RiskLoseMoney If between the time you purchase shares and the time you sell shares the value of the fund’s investments decreases, you will lose money.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus
  • Non-Diversification Risk. The risk that the fund will be more susceptible to factors negatively impacting the securities in its portfolio to the extent that each such security represents a significant portion of the fund’s assets.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The fund has not had a full calendar year of operations; therefore, performance information is not shown.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess The fund has not had a full calendar year of operations; therefore, performance information is not shown.
Virtus Emerging Markets Debt Fund | Class A
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 3.75%
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther 0.50% [1]
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.60% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.60%
Less: Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.25%) [3]
Total Annual Fund Operating Expenses After Fee Waiver or Expense Reimbursement (if Any) rr_NetExpensesOverAssets 1.35% [3]
1 Year rr_ExpenseExampleYear01 507
3 Years rr_ExpenseExampleYear03 837
1 Year rr_ExpenseExampleNoRedemptionYear01 507
3 Years rr_ExpenseExampleNoRedemptionYear03 837
Virtus Emerging Markets Debt Fund | Class C
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [4]
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.60% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.35%
Less: Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.25%) [3]
Total Annual Fund Operating Expenses After Fee Waiver or Expense Reimbursement (if Any) rr_NetExpensesOverAssets 2.10% [3]
1 Year rr_ExpenseExampleYear01 313
3 Years rr_ExpenseExampleYear03 710
1 Year rr_ExpenseExampleNoRedemptionYear01 213
3 Years rr_ExpenseExampleNoRedemptionYear03 710
Virtus Emerging Markets Debt Fund | Class I
 
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.75%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.60% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.35%
Less: Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.25%) [3]
Total Annual Fund Operating Expenses After Fee Waiver or Expense Reimbursement (if Any) rr_NetExpensesOverAssets 1.10% [3]
1 Year rr_ExpenseExampleYear01 112
3 Years rr_ExpenseExampleYear03 403
1 Year rr_ExpenseExampleNoRedemptionYear01 112
3 Years rr_ExpenseExampleNoRedemptionYear03 403
[1] Generally, Class A Shares are not subject to any charges by the Fund when redeemed; however, a contingent deferred sales charge may be imposed on certain redemptions within 18 months on exchanges from a Virtus non-money market fund into a Virtus money market fund and purchases on which a finder's fee has been paid. The 18-month period begins on the last day of the month preceding the month in which the purchase was made.
[2] Estimated for current fiscal year.
[3] The fund's investment adviser has contractually agreed to limit the fund's total operating expenses (excluding interest, taxes and extraordinary expenses) so that such expenses do not exceed 1.35% for Class A Shares, 2.10% for Class C Shares and 1.10% for Class I Shares through January 31, 2014. Following the contractual period, the adviser may discontinue these expense reimbursement arrangements at any time. Under certain conditions, the adviser may recapture operating expenses reimbursed under these arrangements for a period of three years following the fiscal year in which such reimbursement occurred.
[4] The deferred sales charge is imposed on Class C Shares redeemed during the first year only.