XML 41 R20.htm IDEA: XBRL DOCUMENT v3.2.0.727
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 Sep. 01, 2015
Document Effective Date dei_DocumentEffectiveDate Sep. 01, 2015
Prospectus Date rr_ProspectusDate Jan. 28, 2015
Virtus Low Volatility Equity Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
Virtus Low Volatility Equity Fund
Supplement [Text Block] vot_SupplementTextBlock

Virtus Bond Fund, Virtus CA Tax-Exempt Bond Fund,

Virtus High Yield Fund, Virtus Low Volatility Equity Fund,

Virtus Senior Floating Rate Fund and Virtus Wealth Masters Fund

each a series of Virtus Opportunities Trust

 

Supplement dated September 1, 2015 to the Summary Prospectuses dated January 28, 2015,

as supplemented, and the Virtus Opportunities Trust Statutory Prospectus,

dated January 28, 2015, as supplemented.

 

Important Notice to Investors

 

Virtus Low Volatility Equity Fund

 

Under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus, the “Annual Fund Operating Expenses” table and associated footnotes are hereby replaced with the following:

 

Annual Fund Operating Expenses (expenses that you 
pay each year as a percentage of the value of your
investment)		   Class A     Class C     Class I  
Management Fees     0.95 %     0.95 %     0.95 %
Distribution and Shareholder Servicing (12b-1) Fees     0.25 %     1.00 %     None  
Other Expenses     4.95 %     4.95 %     4.95 %
Acquired Fund Fees and Expenses     0.20 %     0.20 %     0.20 %
Total Annual Fund Operating Expenses(b)     6.35 %     7.10 %     6.10 %
Less:  Expense Reimbursement(c)     (4.80 )%     (4.80 )%     (4.80 )%
Total Annual Fund Operating Expenses After Expense Reimbursement(b)(c)     1.55 %     2.30 %     1.30 %

 

(b) The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets appearing in the Financial Highlights tables, which tables reflect only the operating expenses of the fund and do not include acquired fund fees and expenses.
(c) The fund’s investment adviser has contractually agreed to limit the fund’s total operating expenses (excluding dividend and interest expenses, taxes, brokerage commissions, extraordinary expenses and acquired fund fees and expenses) so that such expenses do not exceed 1.55% for Class A Shares, 2.30% for Class C Shares and 1.30% for Class I Shares through January 31, 2017. 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.

 

Under “Fees and Expenses, the “Example” table is hereby replaced with the following:

 

    Share Status   1 Year     3 Years     5 Years     10 Years  
Class A   Sold or Held   $ 724     $ 1,514     $ 2,760     $ 5,733  
Class C   Sold   $ 333     $ 1,213     $ 2,649     $ 5,983  
    Held   $ 233     $ 1,213     $ 2,649     $ 5,983  
Class I   Sold or Held   $ 132     $ 922     $ 2,205     $ 5,292  

 

The first paragraph and the information in the first table in the section “More Information About Fund Expenses” on page 139 of the statutory prospectus are hereby revised with the following information for the above referenced funds:

 

Virtus Investment Advisers, Inc. (“VIA”) has contractually agreed to limit the total operating expenses (excluding dividend and interest expenses, taxes, brokerage commissions, leverage expenses, extraordinary expenses and acquired fund fees and expenses, if any) of certain of the funds so that expenses do not exceed, on an annualized basis, the amounts indicated in the following table.

 

    Class A
Shares		     Class B
Shares		     Class C
Shares		     Class I
Shares		     Class R6
Shares		   Class T
Shares		   Through Date
Virtus Bond Fund     0.85 %     1.60 %     1.60 %     0.60 %   N/A   N/A   January 31, 2017
Virtus CA Tax Exempt Bond Fund     0.85 %     N/A       N/A       0.60 %   N/A   N/A   January 31, 2017
Virtus High Yield Fund     1.15 %     1.90 %     1.90 %     0.90 %   N/A   N/A   January 31, 2017
Virtus Low Volatility Equity Fund     1.55 %     N/A       2.30 %     1.30 %   N/A   N/A   January 31, 2017
Virtus Senior Floating Rate Fund(1)     1.20 %     N/A       1.95 %     0.95 %   N/A   N/A   January 31, 2017
Virtus Wealth Masters Fund(1)     1.45 %     N/A       2.20 %     1.20 %   N/A   N/A   January 31, 2017

 

(1) Fund expenses currently below the capped level.

 

Investors should retain this supplement with the Prospectuses for future reference.
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
Under “Fees and Expenses” in the fund’s summary prospectus and the summary section of the statutory prospectus, the “Annual Fund Operating Expenses” table and associated footnotes are hereby replaced with the following:
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, 2017
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees
The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets appearing in the Financial Highlights tables, which tables reflect only the operating expenses of the fund and do not include acquired fund fees and expenses.
Expense Example [Heading] rr_ExpenseExampleHeading
Under “Fees and Expenses, the “Example” table is hereby replaced with the following:
Virtus Low Volatility Equity Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VLVAX
Management Fees rr_ManagementFeesOverAssets 0.95%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 4.95%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.20%
Total Annual Fund Operating Expenses [1] rr_ExpensesOverAssets 6.35%
Less: Expense Reimbursement [2] rr_FeeWaiverOrReimbursementOverAssets (4.80%)
Total Annual Fund Operating Expenses After Expense Reimbursement [1],[2] rr_NetExpensesOverAssets 1.55%
1 Year rr_ExpenseExampleYear01 $ 724
3 Years rr_ExpenseExampleYear03 1,514
5 Years rr_ExpenseExampleYear05 2,760
10 Years rr_ExpenseExampleYear10 5,733
1 Year rr_ExpenseExampleNoRedemptionYear01 724
3 Years rr_ExpenseExampleNoRedemptionYear03 1,514
5 Years rr_ExpenseExampleNoRedemptionYear05 2,760
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 5,733
Virtus Low Volatility Equity Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VLVCX
Management Fees rr_ManagementFeesOverAssets 0.95%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 4.95%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.20%
Total Annual Fund Operating Expenses [1] rr_ExpensesOverAssets 7.10%
Less: Expense Reimbursement [2] rr_FeeWaiverOrReimbursementOverAssets (4.80%)
Total Annual Fund Operating Expenses After Expense Reimbursement [1],[2] rr_NetExpensesOverAssets 2.30%
1 Year rr_ExpenseExampleYear01 $ 333
3 Years rr_ExpenseExampleYear03 1,213
5 Years rr_ExpenseExampleYear05 2,649
10 Years rr_ExpenseExampleYear10 5,983
1 Year rr_ExpenseExampleNoRedemptionYear01 233
3 Years rr_ExpenseExampleNoRedemptionYear03 1,213
5 Years rr_ExpenseExampleNoRedemptionYear05 2,649
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 5,983
Virtus Low Volatility Equity Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VLVIX
Management Fees rr_ManagementFeesOverAssets 0.95%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 4.95%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.20%
Total Annual Fund Operating Expenses [1] rr_ExpensesOverAssets 6.10%
Less: Expense Reimbursement [2] rr_FeeWaiverOrReimbursementOverAssets (4.80%)
Total Annual Fund Operating Expenses After Expense Reimbursement [1],[2] rr_NetExpensesOverAssets 1.30%
1 Year rr_ExpenseExampleYear01 $ 132
3 Years rr_ExpenseExampleYear03 922
5 Years rr_ExpenseExampleYear05 2,205
10 Years rr_ExpenseExampleYear10 5,292
1 Year rr_ExpenseExampleNoRedemptionYear01 132
3 Years rr_ExpenseExampleNoRedemptionYear03 922
5 Years rr_ExpenseExampleNoRedemptionYear05 2,205
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 5,292
[1] The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets appearing in the Financial Highlights tables, which tables reflect only the operating expenses of the fund and do not include acquired fund fees and expenses.
[2] The fund's investment adviser has contractually agreed to limit the fund's total operating expenses (excluding dividend and interest expenses, taxes, brokerage commissions, extraordinary expenses and acquired fund fees and expenses) so that such expenses do not exceed 1.55% for Class A Shares, 2.30% for Class C Shares and 1.30% for Class I Shares through January 31, 2017. 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.