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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 MULTI-SECTOR SHORT TERM BOND FUND
  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
Virtus Multi-Sector Short Term Bond Fund
Objective [Heading] rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The fund has investment objectives of providing high current income while attempting to limit changes in the fund’s net asset value per share caused by interest rate changes.
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 fund’s performance. During the most recent fiscal year, the fund’s portfolio turnover rate was 49% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 49.00%
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 maximum deferred sales charge is imposed on Class B Shares redeemed during the first year; thereafter, it decreases 0.50% annually to 1% during the third year and to 0% after the third year. The deferred sales charge is imposed on Class T 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 fund’s operating expenses remain the same. In the case of Class B Shares, it assumes that your shares are converted to Class A Shares after six years. 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 seeks current income with an emphasis on maintaining low volatility and overall short duration by investing primarily in higher quality, more liquid securities across 14 bond market sectors. The fund utilizes a value-oriented, research driven approach that seeks to strategically overweight undervalued sectors while applying strict risk controls.
Under normal circumstances, the fund invests at least 80% of its assets in bonds, which are fixed income debt obligations of various types of issuers. The fund seeks to achieve its objective by investing in a diversified portfolio of primarily short-term fixed income securities having an expected dollar-weighted average maturity of three years or less and that are in one of the following market sectors:
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  • Securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies, authorities or instrumentalities, including collateralized mortgage obligations, real estate mortgage investment conduits and other pass-through securities;
•
  • Debt securities issued by foreign issuers, including foreign governments and their political subdivisions and issuers located in emerging markets;
•
  • Investment grade securities; and
•
  • High yield-high risk fixed income securities (so called “junk bonds”).
The fund may invest in all or some of these sectors.
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:
 
>
  • 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.
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  • 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.
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  • 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.
>
  • 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.
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  • 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.
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  • Mortgage-Backed and Asset-Backed Securities Risk. The risk that changes in interest rates will cause both extension and prepayment risks for mortgage-backed and asset-backed securities in which the fund invests, or that an impairment of the value of collateral underlying such securities will cause the value of the securities to decrease.
>
  • 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.
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 fund’s past performance, before and after taxes, is not necessarily an indication of how the fund will perform in the future.
The bar chart shows changes in the fund’s performance from year to year over a 10-year period. 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. 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 changes in the fund’s performance from year to year over a 10-year period. 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 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
Calendar year total returns for Class A Shares (includes returns of a predecessor fund)
Bar Chart Narrative [Text Block] rr_BarChartNarrativeTextBlock
Annual Return (%)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter:
 
 
Q2/2009:
 
 
10.79%
 
 
Worst Quarter:
 
 
Q4/2008:
 
 
-9.05%
Performance Table Heading rr_PerformanceTableHeading
Average Annual Total Returns (for the periods ended 12/31/13; includes returns of a predecessor fund)
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 investor’s 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 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.
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 Barclays U.S. Aggregate Bond Index measures the U.S. investment grade fixed rate bond market. The BofA Merrill Lynch 1-3 Year A-BBB US Corporate Index measures performance of U.S. corporate bond issues rated BBB and A by Standard and Poor’s with maturities between one and three years. The indexes are calculated on a total return basis. 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 investor’s 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 MULTI-SECTOR SHORT TERM BOND FUND | Class A
  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol NARAX
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.25%
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 0.47%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.26% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.98%
1 Year rr_ExpenseExampleYear01 323
3 Years rr_ExpenseExampleYear03 530
5 Years rr_ExpenseExampleYear05 754
10 Years rr_ExpenseExampleYear10 1,399
1 Year rr_ExpenseExampleNoRedemptionYear01 323
3 Years rr_ExpenseExampleNoRedemptionYear03 530
5 Years rr_ExpenseExampleNoRedemptionYear05 754
10 Years rr_ExpenseExampleNoRedemptionYear10 1,399
2004 rr_AnnualReturn2004 4.81%
2005 rr_AnnualReturn2005 1.36%
2006 rr_AnnualReturn2006 5.52%
2007 rr_AnnualReturn2007 3.15%
2008 rr_AnnualReturn2008 (13.96%)
2009 rr_AnnualReturn2009 29.80%
2010 rr_AnnualReturn2010 10.25%
2011 rr_AnnualReturn2011 3.10%
2012 rr_AnnualReturn2012 9.39%
2013 rr_AnnualReturn2013 1.52%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 10.79%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel
Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (9.05%)
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (0.77%)
5 Years rr_AverageAnnualReturnYear05 9.88%
10 Years rr_AverageAnnualReturnYear10 4.77%
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND | Class B
  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol PBARX
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 2.00% [3]
Management Fees rr_ManagementFeesOverAssets 0.47%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.75%
Other Expenses rr_OtherExpensesOverAssets 0.26% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.48%
1 Year rr_ExpenseExampleYear01 298
3 Years rr_ExpenseExampleYear03 444
5 Years rr_ExpenseExampleYear05 740
10 Years rr_ExpenseExampleYear10 1,280
1 Year rr_ExpenseExampleNoRedemptionYear01 148
3 Years rr_ExpenseExampleNoRedemptionYear03 444
5 Years rr_ExpenseExampleNoRedemptionYear05 740
10 Years rr_ExpenseExampleNoRedemptionYear10 1,280
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (0.45%)
5 Years rr_AverageAnnualReturnYear05 9.84%
10 Years rr_AverageAnnualReturnYear10 4.48%
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND | Class C
  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol PSTCX
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 0.47%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets 0.26% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.23%
1 Year rr_ExpenseExampleYear01 125
3 Years rr_ExpenseExampleYear03 390
5 Years rr_ExpenseExampleYear05 676
10 Years rr_ExpenseExampleYear10 1,489
1 Year rr_ExpenseExampleNoRedemptionYear01 125
3 Years rr_ExpenseExampleNoRedemptionYear03 390
5 Years rr_ExpenseExampleNoRedemptionYear05 676
10 Years rr_ExpenseExampleNoRedemptionYear10 1,489
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 1.24%
5 Years rr_AverageAnnualReturnYear05 10.10%
10 Years rr_AverageAnnualReturnYear10 4.74%
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND | Class I
  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol PIMSX
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 0.47%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.26% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.73%
1 Year rr_ExpenseExampleYear01 75
3 Years rr_ExpenseExampleYear03 233
5 Years rr_ExpenseExampleYear05 406
10 Years rr_ExpenseExampleYear10 906
1 Year rr_ExpenseExampleNoRedemptionYear01 75
3 Years rr_ExpenseExampleNoRedemptionYear03 233
5 Years rr_ExpenseExampleNoRedemptionYear05 406
10 Years rr_ExpenseExampleNoRedemptionYear10 906
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 1.77%
5 Years rr_AverageAnnualReturnYear05 10.65%
Since Inception rr_AverageAnnualReturnSinceInception 6.66%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 06, 2008
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND | Class T
  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol PMSTX
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%
Management Fees rr_ManagementFeesOverAssets 0.47%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.26% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.73%
1 Year rr_ExpenseExampleYear01 273
3 Years rr_ExpenseExampleYear03 519
5 Years rr_ExpenseExampleYear05 865
10 Years rr_ExpenseExampleYear10 1,730
1 Year rr_ExpenseExampleNoRedemptionYear01 173
3 Years rr_ExpenseExampleNoRedemptionYear03 519
5 Years rr_ExpenseExampleNoRedemptionYear05 865
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,730
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 0.74%
5 Years rr_AverageAnnualReturnYear05 9.58%
10 Years rr_AverageAnnualReturnYear10 4.22%
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND | Return After Taxes on Distributions | Class A
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (2.28%)
5 Years rr_AverageAnnualReturnYear05 8.01%
10 Years rr_AverageAnnualReturnYear10 2.99%
VIRTUS MULTI-SECTOR SHORT TERM BOND 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 (0.44%)
5 Years rr_AverageAnnualReturnYear05 7.04%
10 Years rr_AverageAnnualReturnYear10 2.99%
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND | Barclays U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Barclays U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (2.02%)
5 Years rr_AverageAnnualReturnYear05 4.44%
10 Years rr_AverageAnnualReturnYear10 4.55%
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND | Barclays U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) | Class I
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Barclays U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)
Since Inception rr_AverageAnnualReturnSinceInception 4.65%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 06, 2008
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND | BofA Merrill Lynch 1-3 Year A-BBB US Corporate Index (reflects no deduction for fees, expenses or taxes)
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel BofA Merrill Lynch 1-3 Year A-BBB US Corporate Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 1.93%
5 Years rr_AverageAnnualReturnYear05 5.97%
10 Years rr_AverageAnnualReturnYear10 3.85%
VIRTUS MULTI-SECTOR SHORT TERM BOND FUND | BofA Merrill Lynch 1-3 Year A-BBB US Corporate Index (reflects no deduction for fees, expenses or taxes) | Class I
  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel BofA Merrill Lynch 1-3 Year A-BBB US Corporate Index (reflects no deduction for fees, expenses or taxes)
Since Inception rr_AverageAnnualReturnSinceInception 4.01%
Inception Date rr_AverageAnnualReturnInceptionDate Jun. 06, 2008
[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 maximum deferred sales charge is imposed on Class B Shares redeemed during the first year; thereafter, it decreases 0.50% annually to 1% during the third year and to 0% after the third year. The deferred sales charge is imposed on Class T Shares redeemed during the first year only.