XML 62 R122.htm IDEA: XBRL DOCUMENT

Label

Element

Value

Risk/Return:

rr_RiskReturnAbstract

dei_DocumentType

485BPOS

Document Period End Date

dei_DocumentPeriodEndDate

Sep. 30, 2014

Registrant Name

dei_EntityRegistrantName

VIRTUS OPPORTUNITIES TRUST

Central Index Key

dei_EntityCentralIndexKey

0001005020

dei_AmendmentFlag

false

dei_TradingSymbol

VOT

Document Creation Date

dei_DocumentCreationDate

Jan. 26, 2015

Document Effective Date

dei_DocumentEffectiveDate

Jan. 28, 2015

Prospectus Date

rr_ProspectusDate

Jan. 28, 2015

VIRTUS GLOBAL DIVIDEND FUND

Risk/Return:

rr_RiskReturnAbstract

Risk/Return [Heading]

rr_RiskReturnHeading

Virtus Global Dividend Fund

Objective [Heading]

rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The fund has investment objectives of both capital appreciation and current income.

Expense [Heading]

rr_ExpenseHeading

Fees and Expenses

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

The tables below illustrate the 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 214 of the fund’s prospectus and “Alternative Purchase Arrangements” on page 108 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 24% of the average value of its portfolio.

Portfolio Turnover, Rate

rr_PortfolioTurnoverRate

Expenses Deferred Charges [Text Block]

rr_ExpensesDeferredChargesTextBlock

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

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. 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 invests globally in infrastructure companies involved in the energy, utility, transportation, and communications industries. Infrastructure companies are believed by the subadviser to exhibit attractive risk/return characteristics, offer moderate-to-high income and moderate growth, and be defensive in nature.

Under normal market conditions, the fund invests at least 80% of its assets in dividend paying equity securities of infrastructure companies that are located in three or more countries, one of which will be the United States. Under normal market conditions, the fund will invest at least 25% of its assets in securities of U.S. issuers. Although the fund concentrates its investments in infrastructure companies, it may invest up to 20% of its assets in securities of issuers that are not infrastructure companies, including stocks, debt obligations, money market securities and money market mutual funds, as well as certain derivative instruments. To the extent the fund purchases non-infrastructure stocks, they may be of issuers of any capitalization. When investing in debt obligations, the fund will invest primarily in investment grade debt obligations, although it may invest in high-yield, high-risk fixed income securities (junk bonds).

Strategy Portfolio Concentration [Text]

rr_StrategyPortfolioConcentration

Under normal market conditions, the fund invests at least 80% of its assets in dividend paying equity securities of infrastructure companies that are located in three or more countries, one of which will be the United States. Although the fund concentrates its investments in infrastructure companies, it may invest up to 20% of its assets in securities of issuers that are not infrastructure companies, including stocks, debt obligations, money market securities and money market mutual funds, as well as certain derivative instruments.

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.

>

Derivatives Risk. The risk that the fund will incur a loss greater than the fund’s investment in, or will experience greater share price volatility as a result of investing in, a derivative contract. Derivatives may include, among other things, futures, options, forwards and swap agreements and may be used in order to hedge portfolio risks, create leverage, or to attempt to increase yield.

>

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 Risks. 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.

>

Income Risk. The risk that income received from the fund will vary widely over the short- and long-term.

>

Industry/Sector Concentration Risk. The risk that events negatively affecting infrastructure companies will cause the value of the fund’s shares to decrease, perhaps significantly. Since the fund concentrates its assets in infrastructure companies, the fund is more vulnerable to conditions that negatively affect infrastructure companies as compared to a fund that does not concentrate holdings in such companies.

>

Infrastructure-Related Investment Risk. The risk that the value of the fund’s shares will decrease as a result of conditions, such as general or local economic conditions and political developments, changes in regulations, environmental problems, casualty losses, and changes in interest rates, negatively affecting the infrastructure companies in which the fund invests.

>

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.

>

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.

>

Master Limited Partnership (MLP) Risk. The risk that the fund’s investments in MLP units will be negatively impacted by tax law changes, regulatory developments or other factors affecting the MLP’s underlying assets.

>

Preferred Stock Risk. The risk that a preferred stock will decline in price, fail to pay dividends when expected, or be illiquid.

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 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 with a composite 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 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 with a composite benchmark.

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

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:

16.39%

Worst Quarter:

Q3/2008:

-16.55%

Performance Table Heading

rr_PerformanceTableHeading

Average Annual Total Returns (for the periods ended 12/31/14; includes returns of a predecessor fund)

Performance Table Does Reflect Sales Loads

rr_PerformanceTableDoesReflectSalesLoads

Returns reflect deduction of maximum sales charges and full redemption at end of periods shown.

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 S&P 500® Index is a free-float adjusted 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 Global Dividend Linked Benchmark consists of the MSCI World Infrastructure Sector Capped Index, a market capitalization weighted index that measures performance of global infrastructure companies by capturing broad and diversified opportunities across telecommunication, utilities, energy, transportation and social infrastructure sectors. The telecommunication infrastructure and utilities sector each represent one-third of the index weight, while energy, transportation and social infrastructure sectors have a combined weight of the remaining one-third of the index. The Index is calculated on a total return basis with net dividends reinvested. Performance of the Global Dividend Linked Benchmark prior to September 1, 2008 represents an allocation consisting of 65% MSCI USA/Utilities Index, 20% MSCI World Telecom Services Index, and 15% MSCI World ex USA/Utilities Index. 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 GLOBAL DIVIDEND FUND | Class A

Risk/Return:

rr_RiskReturnAbstract

dei_TradingSymbol

PGUAX

Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds)

rr_MaximumDeferredSalesChargeOverOther

none

Management Fees

rr_ManagementFeesOverAssets

Distribution and Shareholder Servicing (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

rr_ExpenseExampleYear01

rr_ExpenseExampleYear03

rr_ExpenseExampleYear05

rr_ExpenseExampleYear10

rr_ExpenseExampleNoRedemptionYear01

rr_ExpenseExampleNoRedemptionYear03

rr_ExpenseExampleNoRedemptionYear05

rr_ExpenseExampleNoRedemptionYear10

rr_AnnualReturn2005

rr_AnnualReturn2006

rr_AnnualReturn2007

rr_AnnualReturn2008

rr_AnnualReturn2009

rr_AnnualReturn2010

rr_AnnualReturn2011

rr_AnnualReturn2012

rr_AnnualReturn2013

rr_AnnualReturn2014

Highest Quarterly Return, Label

rr_HighestQuarterlyReturnLabel

Best Quarter:

Highest Quarterly Return, Date

rr_BarChartHighestQuarterlyReturnDate

Sep. 30, 2010

Highest Quarterly Return

rr_BarChartHighestQuarterlyReturn

Lowest Quarterly Return, Label

rr_LowestQuarterlyReturnLabel

Worst Quarter:

Lowest Quarterly Return, Date

rr_BarChartLowestQuarterlyReturnDate

Sep. 30, 2008

Lowest Quarterly Return

rr_BarChartLowestQuarterlyReturn

rr_AverageAnnualReturnLabel

Return Before Taxes

rr_AverageAnnualReturnYear01

rr_AverageAnnualReturnYear05

rr_AverageAnnualReturnYear10

VIRTUS GLOBAL DIVIDEND FUND | Class C

Risk/Return:

rr_RiskReturnAbstract

dei_TradingSymbol

PGUCX

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]

Management Fees

rr_ManagementFeesOverAssets

Distribution and Shareholder Servicing (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

rr_ExpenseExampleYear01

rr_ExpenseExampleYear03

rr_ExpenseExampleYear05

rr_ExpenseExampleYear10

rr_ExpenseExampleNoRedemptionYear01

rr_ExpenseExampleNoRedemptionYear03

rr_ExpenseExampleNoRedemptionYear05

rr_ExpenseExampleNoRedemptionYear10

rr_AverageAnnualReturnLabel

Return Before Taxes

rr_AverageAnnualReturnYear01

rr_AverageAnnualReturnYear05

rr_AverageAnnualReturnYear10

VIRTUS GLOBAL DIVIDEND FUND | Class I

Risk/Return:

rr_RiskReturnAbstract

dei_TradingSymbol

PGIUX

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

Distribution and Shareholder Servicing (12b-1) fees

rr_DistributionAndService12b1FeesOverAssets

none

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

Total Annual Fund Operating Expenses

rr_ExpensesOverAssets

rr_ExpenseExampleYear01

rr_ExpenseExampleYear03

rr_ExpenseExampleYear05

rr_ExpenseExampleYear10

rr_ExpenseExampleNoRedemptionYear01

rr_ExpenseExampleNoRedemptionYear03

rr_ExpenseExampleNoRedemptionYear05

rr_ExpenseExampleNoRedemptionYear10

rr_AverageAnnualReturnLabel

Return Before Taxes

rr_AverageAnnualReturnYear01

rr_AverageAnnualReturnYear05

Since Inception

rr_AverageAnnualReturnSinceInception

rr_AverageAnnualReturnInceptionDate

Jun. 06, 2008

VIRTUS GLOBAL DIVIDEND FUND | After Taxes on Distributions | Class A

Risk/Return:

rr_RiskReturnAbstract

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions

rr_AverageAnnualReturnYear01

rr_AverageAnnualReturnYear05

rr_AverageAnnualReturnYear10

VIRTUS GLOBAL DIVIDEND FUND | After Taxes on Distributions and Sales | Class A

Risk/Return:

rr_RiskReturnAbstract

rr_AverageAnnualReturnLabel

Return After Taxes on Distributions and Sale of Fund Shares

rr_AverageAnnualReturnYear01

rr_AverageAnnualReturnYear05

rr_AverageAnnualReturnYear10

VIRTUS GLOBAL DIVIDEND FUND | S&P 500® Index

Risk/Return:

rr_RiskReturnAbstract

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

rr_AverageAnnualReturnLabel

S&P 500® Index (reflects no deduction for fees, expenses or taxes)

rr_AverageAnnualReturnYear01

rr_AverageAnnualReturnYear05

rr_AverageAnnualReturnYear10

VIRTUS GLOBAL DIVIDEND FUND | S&P 500® Index | Class I

Risk/Return:

rr_RiskReturnAbstract

rr_AverageAnnualReturnLabel

S&P 500® Index (reflects no deduction for fees, expenses or taxes)

Since Inception

rr_AverageAnnualReturnSinceInception

rr_AverageAnnualReturnInceptionDate

Jun. 06, 2008

VIRTUS GLOBAL DIVIDEND FUND | Global Dividend Linked Benchmark

Risk/Return:

rr_RiskReturnAbstract

Index No Deduction for Fees, Expenses, Taxes [Text]

rr_IndexNoDeductionForFeesExpensesTaxes

(reflects no deduction for fees, expenses or taxes)

rr_AverageAnnualReturnLabel

Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes)

rr_AverageAnnualReturnYear01

rr_AverageAnnualReturnYear05

rr_AverageAnnualReturnYear10

VIRTUS GLOBAL DIVIDEND FUND | Global Dividend Linked Benchmark | Class I

Risk/Return:

rr_RiskReturnAbstract

rr_AverageAnnualReturnLabel

Global Dividend Linked Benchmark (reflects no deduction for fees, expenses or taxes)

Since Inception

rr_AverageAnnualReturnSinceInception

rr_AverageAnnualReturnInceptionDate

Jun. 06, 2008

[1]	The deferred sales charge is imposed on Class C Shares redeemed during the first year only.