XML 23 R16.htm IDEA: XBRL DOCUMENT v2.4.1.9
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Sep. 30, 2014
Registrant Name dei_EntityRegistrantName VIRTUS OPPORTUNITIES TRUST
Central Index Key dei_EntityCentralIndexKey 0001005020
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol VOT
Document Creation Date dei_DocumentCreationDate May 11, 2015
Document Effective Date dei_DocumentEffectiveDate May 11, 2015
Prospectus Date rr_ProspectusDate Jan. 28, 2015
Virtus Equity Trend Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
Virtus Equity Trend Fund
Objective [Heading] rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The fund has an investment objective of long-term capital appreciation.
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 216 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 227% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 227.00%rr_PortfolioTurnoverRate
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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 50,000rr_ExpenseBreakpointMinimumInvestmentRequiredAmount
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Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates
Estimated for current fiscal year, as annualized.
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent
Restated to reflect current management fee.
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 utilizes a rules based investment process and may invest in securities representing the approximately 130 sub-sectors of the primary sectors of the S&P 500® Index and/or cash equivalents (high-quality short-term securities). Allocations to each sub-sector are based on quantitative models.
The fund has the flexibility to invest in any combination of the sub-sectors and high-quality short-term securities, or 100% in high-quality short-term securities. A relative strength momentum model is utilized to rank each sub-sector of the equity market. The fund will allocate to those sub-sectors that the model determines are more likely to outperform the broad market. A market risk indicator model is also used to determine whether the market is in a lower or higher level of risk based on price trends in the overall market. When the market is determined to be in a higher level of risk, a defensive cash equivalent position may be built by allocating from those sub-sectors of the market that are not exhibiting absolute positive momentum, up to 100% of fund assets.
The adviser is responsible for final model specification, portfolio construction, model monitoring, and governance. The subadviser, Euclid Advisors, LLC monitors the fund’s allocations to the underlying securities and is responsible for rebalancing assets to maintain target allocations among the underlying sub-sectors, while taking into account any other factors the subadviser may deem relevant, such as cash flow and/or timing considerations.
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:
>
  • 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.
>
  • 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.
>
  • Portfolio Turnover Risk. The risk that the fund’s principal investment strategies will result in a consistently high portfolio turnover rate. See the Portfolio Turnover section above for more information about the impact that portfolio turnover can have on your investment.
>
  • Quantitative Model Risk. The risk that investments selected using quantitative models may perform differently from the market as a whole or from their expected performance. There can be no assurance that use of a quantitative model will enable the fund to achieve positive returns or outperform the market.
>
  • Sector Focused Investing Risk. The risk that events negatively affecting a particular industry or market sector in which the fund focuses its investments will cause the value of the fund’s shares to decrease, perhaps significantly.
>
  • 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 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. 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.
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
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:
Q1/2013:
10.75%
Worst Quarter:
Q3/2011:
-9.45%
Performance Table Heading rr_PerformanceTableHeading
Average Annual Total Returns (for the periods ended 12/31/14)
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 index is calculated on a total return basis with dividends reinvested. The index is 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 Equity Trend Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VAPAX
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice
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Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 1.00%rr_ManagementFeesOverAssets
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Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%rr_DistributionAndService12b1FeesOverAssets
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Other Expenses rr_OtherExpensesOverAssets 0.26%rr_OtherExpensesOverAssets
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Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.51%rr_ExpensesOverAssets
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5 Years rr_ExpenseExampleYear05 1,401rr_ExpenseExampleYear05
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1 Year rr_ExpenseExampleNoRedemptionYear01 729rr_ExpenseExampleNoRedemptionYear01
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2011 rr_AnnualReturn2011 (0.21%)rr_AnnualReturn2011
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2012 rr_AnnualReturn2012 10.06%rr_AnnualReturn2012
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2013 rr_AnnualReturn2013 29.24%rr_AnnualReturn2013
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2014 rr_AnnualReturn2014 1.79%rr_AnnualReturn2014
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Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel
Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2013
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 10.75%rr_BarChartHighestQuarterlyReturn
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Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel
Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (9.45%)rr_BarChartLowestQuarterlyReturn
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Label rr_AverageAnnualReturnLabel
Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (4.06%)rr_AverageAnnualReturnYear01
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Since Inception rr_AverageAnnualReturnSinceInception 12.09%rr_AverageAnnualReturnSinceInception
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Inception Date rr_AverageAnnualReturnInceptionDate Jul. 01, 2010
Virtus Equity Trend Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VAPCX
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%rr_MaximumDeferredSalesChargeOverOther
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Management Fees rr_ManagementFeesOverAssets 1.00%rr_ManagementFeesOverAssets
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Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%rr_DistributionAndService12b1FeesOverAssets
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Other Expenses rr_OtherExpensesOverAssets 0.26%rr_OtherExpensesOverAssets
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Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.26%rr_ExpensesOverAssets
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1 Year rr_ExpenseExampleYear01 339rr_ExpenseExampleYear01
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3 Years rr_ExpenseExampleYear03 736rr_ExpenseExampleYear03
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5 Years rr_ExpenseExampleYear05 1,260rr_ExpenseExampleYear05
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1 Year rr_ExpenseExampleNoRedemptionYear01 239rr_ExpenseExampleNoRedemptionYear01
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Label rr_AverageAnnualReturnLabel
Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 0.96%rr_AverageAnnualReturnYear01
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Since Inception rr_AverageAnnualReturnSinceInception 12.71%rr_AverageAnnualReturnSinceInception
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Inception Date rr_AverageAnnualReturnInceptionDate Jul. 01, 2010
Virtus Equity Trend Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VAPIX
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 1.00%rr_ManagementFeesOverAssets
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[1]
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.26%rr_OtherExpensesOverAssets
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Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.26%rr_ExpensesOverAssets
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1 Year rr_ExpenseExampleYear01 138rr_ExpenseExampleYear01
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3 Years rr_ExpenseExampleYear03 431rr_ExpenseExampleYear03
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Label rr_AverageAnnualReturnLabel
Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 2.03%rr_AverageAnnualReturnYear01
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Inception Date rr_AverageAnnualReturnInceptionDate Jul. 01, 2010
Virtus Equity Trend Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VRPAX
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 1.00%rr_ManagementFeesOverAssets
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[1]
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.19%rr_OtherExpensesOverAssets
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[3]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.19%rr_ExpensesOverAssets
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Label rr_AverageAnnualReturnLabel
Return Before Taxes
Since Inception rr_AverageAnnualReturnSinceInception (1.80%)rr_AverageAnnualReturnSinceInception
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Inception Date rr_AverageAnnualReturnInceptionDate Nov. 12, 2014
Virtus Equity Trend Fund | After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel
Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (9.34%)rr_AverageAnnualReturnYear01
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/ rr_PerformanceMeasureAxis
= rr_AfterTaxesOnDistributionsMember
/ rr_ProspectusShareClassAxis
= vot_C000090272Member
Since Inception rr_AverageAnnualReturnSinceInception 10.40%rr_AverageAnnualReturnSinceInception
/ dei_LegalEntityAxis
= vot_S000029390Member
/ rr_PerformanceMeasureAxis
= rr_AfterTaxesOnDistributionsMember
/ rr_ProspectusShareClassAxis
= vot_C000090272Member
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 01, 2010
Virtus Equity Trend Fund | After Taxes on Distributions and Sales | Class A  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel
Return After Taxes on Distributions and Sale of Fund Shares
1 Year rr_AverageAnnualReturnYear01 0.91%rr_AverageAnnualReturnYear01
/ dei_LegalEntityAxis
= vot_S000029390Member
/ rr_PerformanceMeasureAxis
= rr_AfterTaxesOnDistributionsAndSalesMember
/ rr_ProspectusShareClassAxis
= vot_C000090272Member
Since Inception rr_AverageAnnualReturnSinceInception 9.41%rr_AverageAnnualReturnSinceInception
/ dei_LegalEntityAxis
= vot_S000029390Member
/ rr_PerformanceMeasureAxis
= rr_AfterTaxesOnDistributionsAndSalesMember
/ rr_ProspectusShareClassAxis
= vot_C000090272Member
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 01, 2010
Virtus Equity Trend 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)
Label rr_AverageAnnualReturnLabel
S&P 500​® Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 13.69%rr_AverageAnnualReturnYear01
/ dei_LegalEntityAxis
= vot_S000029390Member
/ rr_PerformanceMeasureAxis
= vot_SAndPFiveHundredIndexMember
Since Inception rr_AverageAnnualReturnSinceInception 19.19%rr_AverageAnnualReturnSinceInception
/ dei_LegalEntityAxis
= vot_S000029390Member
/ rr_PerformanceMeasureAxis
= vot_SAndPFiveHundredIndexMember
Inception Date rr_AverageAnnualReturnInceptionDate Jul. 01, 2010
Virtus Equity Trend Fund | S&P 500® Index | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel
S&P 500​® Index (reflects no deduction for fees, expenses or taxes)
Since Inception rr_AverageAnnualReturnSinceInception 1.29%rr_AverageAnnualReturnSinceInception
/ dei_LegalEntityAxis
= vot_S000029390Member
/ rr_PerformanceMeasureAxis
= vot_SAndPFiveHundredIndexMember
/ rr_ProspectusShareClassAxis
= vot_C000148858Member
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 12, 2014
[1] Restated to reflect current management fee.
[2] The deferred sales charge is imposed on Class C Shares redeemed during the first year only.
[3] Estimated for current fiscal year, as annualized.