XML 22 R145.htm IDEA: XBRL DOCUMENT v2.4.0.8
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Sep. 30, 2013
Entity Registrant Name dei_EntityRegistrantName VIRTUS OPPORTUNITIES TRUST
Entity Central Index Key dei_EntityCentralIndexKey 0001005020
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol vot
Document Creation Date dei_DocumentCreationDate Jan. 27, 2014
Document Effective Date dei_DocumentEffectiveDate Jan. 28, 2014
Prospectus Date rr_ProspectusDate Jan. 28, 2014
Virtus Global Real Estate Securities Fund
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
Virtus Global Real Estate Securities Fund
Objective [Heading] rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The fund has a primary investment objective of long-term capital appreciation,
Objective, Secondary [Text Block] rr_ObjectiveSecondaryTextBlock
with a secondary investment objective of income.
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 is available from your financial advisor and under "Sales Charges" on page 215 of the fund’s prospectus and "Alternative Purchase Arrangements" on page 103 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)
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 funds performance. During the most recent fiscal year, the funds portfolio turnover rate was 18% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 18.00%
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 (i) within 18 months on exchanges from a Virtus non-money market fund into a Virtus money market fund; and (ii) on 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
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent
Restated to reflect current expenses.
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 funds operating expenses remain the same. 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
The fund provides global exposure to the real estate securities market, focusing exclusively on companies with a rental business profile. Rental companies derive 70% or more of total revenue from rental income and are most similar in business profile to U.S. real estate investment trusts (REITs).
Under normal circumstances, the fund invests at least 80% of its assets in equity securities issued by U.S. and non-U.S companies of any capitalization that are principally engaged in the real estate industry, including common stock, preferred stock and other equity securities issued by real estate companies, such as REITs and similar REIT-like entities. The fund, under normal market conditions, will hold at least 40% of its assets in non-U.S. issuers. Additionally, the fund normally invests in real estate-related securities of issuers in developed countries; however it may invest up to 20% of its assets in issuers incorporated in emerging market countries. The fund concentrates its assets in the real estate industry.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration
The fund concentrates its assets in the real estate industry.
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. Purchase and redemption activities by fund shareholders may impact the management of the fund and its ability to achieve its investment objective(s). The redemption by one or more large shareholders or groups of shareholders of their holdings in the fund could have an adverse impact on the remaining shareholders in the fund including by accelerating the realization of capital gains and increasing the fund's transaction costs. The principal risks of investing in the fund are:
 
>
  • 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.
>
  • Equity Real Estate Investment Trust (REIT) Securities Risk. The risk that, in addition to the risks associated with investing in the real estate industry, the value of the fund’s shares will be negatively affected by factors specific to investing through a pooled vehicle, such as through poor management of a REIT or REIT-like entity, concentration risk, or other risks typically associated with investing in small or medium market capitalization companies.
>
  • Equity Securities Risk. The risk that events negatively affecting issuers, industries or financial markets in which the fund invests, will impact the value of the stocks held by the fund and thus, the value of the fund’s shares over short or extended periods. Investments in a particular style or in small or medium-sized companies may enhance that risk.
>
  • 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 currency fluctuations or 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.
>
  • Industry/Sector Concentration Risk. The risk that events negatively affecting real estate securities will cause the value of the fund’s shares to decrease, perhaps significantly. Since the fund concentrates its assets in real estate related securities, the fund is more vulnerable to conditions that negatively affect real estate related securities as compared to a fund that does not concentrate holdings in such securities.
>
  • 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.
Risk Lose Money [Text] rr_RiskLoseMoney
If between the time you purchase shares and the time you sell shares the value of the funds investments decreases, you will lose money.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading
Performance Information
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
The bar chart and table below provide some indication of the potential risks of investing in the fund. The funds past performance, before and after taxes, is not necessarily an indication of how the fund will perform in the future.
 
The bar chart shows the funds performance from year to year over the life of the fund. The table shows how the fundaverage annual returns compare to those of a broad-based securities market index and a more narrowly-based benchmark that reflects the market sectors in which the fund invests. Updated performance information is available at virtus.com or by calling 800-243-1574.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns

The bar chart shows the fund’s performance from year to year over the life of the fund. The table shows how the fund’s average annual returns compare to those of a broad-based securities market index and a more narrowly-based benchmark that reflects the market sectors in which the fund invests.

Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 800-243-1574
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress virtus.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture
The funds 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
Calendar year total returns for Class A Shares
Bar Chart Narrative [Text Block] rr_BarChartNarrativeTextBlock
Returns do not reflect sales charges and would be lower if they did.
 
Annual Return (%)
 
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads
Returns do not reflect sales charges and would be lower if they did.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
 
Best Quarter:
 
 
Q3/2010:
 
 
17.74%
 
 
Worst Quarter:
 
 
Q3/2011:
 
 
-16.99%
 
Performance Table Heading rr_PerformanceTableHeading
Average Annual Total Returns (for the periods ended 12/31/13)
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate
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 rr_PerformanceTableNotRelevantToTaxDeferred
Actual after-tax returns depend on the investors tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold fund shares in tax-deferred accounts or to shares held by non-taxable entities.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown
After-tax returns are shown only for Class A Shares; after-tax returns for other classes will vary.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher
In certain cases, the Return After Taxes on Distributions and Sale of Fund Shares for a period maybe higher than other return figures for the same period. This will occur when a capital loss is realized upon the sale of fund shares and provides an assumed tax benefit that increases the return.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock
Returns reflect deduction of maximum sales charges and full redemption at end of periods shown.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock
The S&P 500®  Index is a free-float market capitalization-weighted index of 500 of the largest U.S. companies. The S&P 500®  Index is calculated on a total return basis with dividends reinvested. The FTSE EPRA/NAREIT Developed Rental Index is a free-float market capitalization index measuring global real estate securities, which meet minimum size, liquidity and investment focus criteria. The FTSE EPRA/NAREIT Index (net) is calculated on a total-return basis with net dividends reinvested. The indexes are unmanaged and not available for direct investment.
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. After-tax returns are shown only for Class A Shares; after-tax returns for other classes will vary. Actual after-tax returns depend on the investors tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold fund shares in tax-deferred accounts or to shares held by non-taxable entities. In certain cases, the Return After Taxes on Distributions and Sale of Fund Shares for a period may be higher than other return figures for the same period. This will occur when a capital loss is realized upon the sale of fund shares and provides an assumed tax benefit that increases the return.
Virtus Global Real Estate Securities Fund | Class A
 
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VGSAX
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.85%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.54% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.64%
1 Year rr_ExpenseExampleYear01 732
3 Years rr_ExpenseExampleYear03 1,063
5 Years rr_ExpenseExampleYear05 1,415
10 Years rr_ExpenseExampleYear10 2,407
1 Year rr_ExpenseExampleNoRedemptionYear01 732
3 Years rr_ExpenseExampleNoRedemptionYear03 1,063
5 Years rr_ExpenseExampleNoRedemptionYear05 1,415
10 Years rr_ExpenseExampleNoRedemptionYear10 2,407
2010 rr_AnnualReturn2010 23.08%
2011 rr_AnnualReturn2011 0.50%
2012 rr_AnnualReturn2012 23.40%
2013 rr_AnnualReturn2013 1.08%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2010
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.74%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel
Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (16.99%)
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (4.73%)
Since Inception rr_AverageAnnualReturnSinceInception 23.84%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 02, 2009
Virtus Global Real Estate Securities Fund | Class C
 
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VGSCX
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% [3]
Management Fees rr_ManagementFeesOverAssets 0.85%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.54% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.39%
1 Year rr_ExpenseExampleYear01 342
3 Years rr_ExpenseExampleYear03 745
5 Years rr_ExpenseExampleYear05 1,275
10 Years rr_ExpenseExampleYear10 2,726
1 Year rr_ExpenseExampleNoRedemptionYear01 242
3 Years rr_ExpenseExampleNoRedemptionYear03 745
5 Years rr_ExpenseExampleNoRedemptionYear05 1,275
10 Years rr_ExpenseExampleNoRedemptionYear10 2,726
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 0.36%
Since Inception rr_AverageAnnualReturnSinceInception 24.45%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 02, 2009
Virtus Global Real Estate Securities Fund | Class I
 
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VGISX
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 0.85%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.54% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.39%
1 Year rr_ExpenseExampleYear01 142
3 Years rr_ExpenseExampleYear03 440
5 Years rr_ExpenseExampleYear05 761
10 Years rr_ExpenseExampleYear10 1,669
1 Year rr_ExpenseExampleNoRedemptionYear01 142
3 Years rr_ExpenseExampleNoRedemptionYear03 440
5 Years rr_ExpenseExampleNoRedemptionYear05 761
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,669
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 1.36%
Since Inception rr_AverageAnnualReturnSinceInception 25.71%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 02, 2009
Virtus Global Real Estate Securities Fund | S&P 500 ® Index (reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel S&P 500® Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 32.39%
Since Inception rr_AverageAnnualReturnSinceInception 24.85%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 02, 2009
Virtus Global Real Estate Securities Fund | FTSE EPRA/NAREIT Developed Rental ex-U.S. Index (net) (reflects no deduction for fees, expenses or taxes)
 
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel FTSE EPRA/NAREIT Developed Rental Index (net) (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 2.13%
Since Inception rr_AverageAnnualReturnSinceInception 25.78%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 02, 2009
Virtus Global Real Estate Securities Fund | Return After Taxes on Distributions | Class A
 
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (5.44%)
Since Inception rr_AverageAnnualReturnSinceInception 21.71%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 02, 2009
Virtus Global Real Estate Securities Fund | Return After Taxes on Distributions and Sale of Fund Shares | Class A
 
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions and Sale of Fund Shares
1 Year rr_AverageAnnualReturnYear01 (2.44%)
Since Inception rr_AverageAnnualReturnSinceInception 18.83%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 02, 2009
[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 (i) within 18 months on exchanges from a Virtus non-money market fund into a Virtus money market fund; and (ii) on 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] Restated to reflect current expenses.
[3] The deferred sales charge is imposed on Class C Shares redeemed during the first year only.