XML 70 R166.htm IDEA: XBRL DOCUMENT v3.3.1.900
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Sep. 30, 2015
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 Jan. 27, 2016
Document Effective Date dei_DocumentEffectiveDate Jan. 28, 2016
Prospectus Date rr_ProspectusDate Jan. 28, 2016
Virtus International Wealth Masters Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
Virtus International Wealth Masters Fund
Objective [Heading] rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The fund has an investment objective of 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 201 of the fund’s prospectus and “Alternative Purchase Arrangements” on page 105 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)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination January 31, 2017
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 32% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 32.00%
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 $ 50,000
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, that the fund’s operating expenses remain the same and that the expense reimbursement agreement remains in place for the contractual period. 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 to track the performance of the Horizon Kinetics International Wealth Index (Ticker: INWTR), a public index maintained by Horizon Kinetics LLC, the parent company of the fund’s subadviser, and published by International Securities Exchange, LLC. The index is composed of non-U.S., exchange-listed companies managed by executives who have accumulated a substantial amount of their personal wealth through the companies that they manage. The issuers have market capitalizations, at time of addition to the index, in excess of $200 million. The fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index. The manner in which the index is constructed is likely to result in the fund’s assets generally being focused in one or more market sectors. For example, companies eligible for inclusion in the index based upon the first requirement of having an individual with significant wealth in a control position, are often companies in the consumer discretionary sector; therefore, it would not be unusual for the fund’s assets to be similarly focused in the consumer discretionary sector.
The fund intends to diversify its investments among countries and normally to have represented in the portfolio business activities of a number of different countries. In determining "location" of an issuer, the subadviser primarily relies on the country where the issuer is incorporated. However, the country of risk is ultimately determined based on analysis of the following criteria: actual building address (domicile), primary exchange on which the security is traded and country in which the greatest percentage of company revenue is generated. This evaluation is conducted so as to determine that the issuer's assets are exposed to the economic fortunes and risks of the designated country.
Risk [Heading] rr_RiskHeading
Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
The fund may not achieve its objective(s), 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:
>
  • Correlation to Index  The risk that the performance of the fund and its index may vary somewhat due to factors such as fund flows, transaction costs, whether the fund obtains every security in its index, complexities of investing in foreign markets and timing differences associated with additions to and deletions from its index.
>
  • 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, less regulated or liquid securities markets, or economic, political or other developments.
>
  • 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.
>
  • Sector Focused Investing Risk.  The risk that events negatively affecting a particular market sector in which the fund focuses its investments will cause the value of the fund’s shares to decrease, perhaps significantly. To the extent the fund focuses its assets in a particular market sector, the fund is more vulnerable to conditions that negatively affect such market sector as compared to a fund that does not focus holdings in such securities.
>
  • Small and Medium Market Capitalization Risk.  The risk that the fund's investments in small and medium market capitalization companies will increase the volatility and risk of loss to the fund, as compared with investments in larger, more established companies.
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 for its first full year of operations. The table shows how the fund’s average annual returns compares to those of two broad-based securities market indexes. 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 for its first full year of operations. The table shows how the fund’s average annual returns compares to those of two broad-based securities market indexes.
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:
​
​
Q1/2015:
​
​
5.33%
​
​
Worst Quarter:
​
​
Q3/2015:
​
​
-8.55%
Performance Table Heading rr_PerformanceTableHeading
Average Annual Total Returns (for the periods ended 12/31/15)
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 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 MSCI EAFE​® Index (net) is a free float-adjusted market capitalization-weighted index that measures developed foreign market equity performance, excluding the U.S. and Canada. The MSCI EAFE​® 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 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 International Wealth Masters Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VIWAX
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 none
Management Fees rr_ManagementFeesOverAssets 0.90%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 2.69%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 3.84%
Less: Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (2.29%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.55% [1]
1 Year rr_ExpenseExampleYear01 $ 724
3 Years rr_ExpenseExampleYear03 1,481
5 Years rr_ExpenseExampleYear05 2,256
10 Years rr_ExpenseExampleYear10 4,274
1 Year rr_ExpenseExampleNoRedemptionYear01 724
3 Years rr_ExpenseExampleNoRedemptionYear03 1,481
5 Years rr_ExpenseExampleNoRedemptionYear05 2,256
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 4,274
2015 rr_AnnualReturn2015 1.25%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2015
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 5.33%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2015
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (8.55%)
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (4.57%)
Since Inception rr_AverageAnnualReturnSinceInception (6.15%)
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 17, 2014
Virtus International Wealth Masters Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VIWCX
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% [2]
Management Fees rr_ManagementFeesOverAssets 0.90%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 2.69%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 4.59%
Less: Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (2.29%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 2.30% [1]
1 Year rr_ExpenseExampleYear01 $ 333
3 Years rr_ExpenseExampleYear03 1,180
5 Years rr_ExpenseExampleYear05 2,134
10 Years rr_ExpenseExampleYear10 4,555
1 Year rr_ExpenseExampleNoRedemptionYear01 233
3 Years rr_ExpenseExampleNoRedemptionYear03 1,180
5 Years rr_ExpenseExampleNoRedemptionYear05 2,134
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 4,555
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 0.48%
Since Inception rr_AverageAnnualReturnSinceInception (1.82%)
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 17, 2014
Virtus International Wealth Masters Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VWIIX
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 0.90%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 2.69%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 3.59%
Less: Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (2.29%) [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.30% [1]
1 Year rr_ExpenseExampleYear01 $ 132
3 Years rr_ExpenseExampleYear03 888
5 Years rr_ExpenseExampleYear05 1,664
10 Years rr_ExpenseExampleYear10 3,703
1 Year rr_ExpenseExampleNoRedemptionYear01 132
3 Years rr_ExpenseExampleNoRedemptionYear03 888
5 Years rr_ExpenseExampleNoRedemptionYear05 1,664
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 3,703
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 1.58%
Since Inception rr_AverageAnnualReturnSinceInception (0.76%)
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 17, 2014
Virtus International Wealth Masters Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (5.25%)
Since Inception rr_AverageAnnualReturnSinceInception (6.74%)
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 17, 2014
Virtus International Wealth Masters 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 (2.13%)
Since Inception rr_AverageAnnualReturnSinceInception (4.73%)
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 17, 2014
Virtus International Wealth Masters 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 1.38%
Since Inception rr_AverageAnnualReturnSinceInception 2.24%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 17, 2014
Virtus International Wealth Masters Fund | MSCI EAFE®Index (net)  
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 MSCI EAFE​® (net) (reflects no deduction of fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 (0.81%)
Since Inception rr_AverageAnnualReturnSinceInception (2.12%)
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 17, 2014
[1] 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.
[2] The deferred sales charge is imposed on Class C Shares redeemed during the first year only.