XML 34 R70.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 Essential Resources Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
Virtus Essential Resources 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 48% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 48.00%
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
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
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
Long-term investment return opportunities are being driven by the need to provide solutions to meet the world's growing need for water, food and energy. The fund focuses on capital appreciation by identifying companies providing solutions to the supply/demand imbalances in each of these themes (water, food, energy) and constructing a portfolio across specific areas of the global natural resource spectrum. Under normal circumstances, the fund will invest at least 80% of its assets in “essential resources” securities. As of the date of this prospectus, the subadviser considers “essential resources” securities to be securities of companies with business operations in or related to activities in one or more of the themes of water, energy solutions and agribusiness, as more fully described below.
The investment strategy begins with the identification of a universe of 140 to 270 stocks for each of the three themes. Each theme is broken down into different sectors. Water: water infrastructure, water technology, water and water waste utilities; Energy Solutions: renewable energy, utilities, energy efficiency; Agribusiness: infrastructure and processing, farmers and producers, raw materials and/or resources (i.e. seeds, fertilizers). Stock selection and sector allocation is an interactive process employing bottom-up fundamental analysis while taking into account top-down influences on individual companies and sectors.
In evaluating stocks, the subadviser applies a rigorous fundamental analysis such as the evaluation of the financials and management quality of a company, analysis of the demand/supply gap and barriers to entry within the continuum of discovery, gathering, production, transportation or consumption of resources or products where the company operates, and analysis of the impact of regulation on a company's operations. Final stock and sector weights are determined based on the bottom up views on the stocks' fundamentals along with top down views of factors impacting the sector.
The assets of the fund will be tactically allocated across the three themes, and the weight assigned to each theme will be determined by the subadviser's medium-term view of the relative return potential of one theme versus the others.
The fund may invest in equity securities of issuers of any capitalization located throughout the world, including countries considered to be developed and in emerging markets.
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:
>
  • Currency Rate Risk. The risk that fluctuations in the exchange rates between the U.S. dollar and foreign currencies may negatively affect the value of the fund’s shares.
>
  • Emerging Market 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.
>
  • 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.
>
  • Natural Resources  The risk that the fund’s investments in natural resources industries will be significantly affected by events relating to international political and economic developments, energy conservation, the success of exploration projects, commodity prices, taxes and other governmental regulations.
>
  • New Fund Risk. The risk that the fund may not grow to an economically viable size, in which case the fund may cease operations and investors may be required to liquidate or transfer their investments at an inopportune time.
>
  • 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 fund has not had a full calendar year of operations; therefore, performance information is not shown here.
Updated performance information is available at virtus.com or by calling 800-243-1574.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess
The fund has not had a full calendar year of operations; therefore, performance information is not shown here.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone
800-243-1574
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress
virtus.com
Virtus Essential Resources Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VERAX
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 1.10%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 4.91%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 6.27% [1]
Less: Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (4.61%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.66% [1],[2]
1 Year rr_ExpenseExampleYear01 $ 734
3 Years rr_ExpenseExampleYear03 1,940
5 Years rr_ExpenseExampleYear05 3,115
10 Years rr_ExpenseExampleYear10 5,926
1 Year rr_ExpenseExampleNoRedemptionYear01 734
3 Years rr_ExpenseExampleNoRedemptionYear03 1,940
5 Years rr_ExpenseExampleNoRedemptionYear05 3,115
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 5,926
Virtus Essential Resources Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VERCX
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% [3]
Management Fees rr_ManagementFeesOverAssets 1.10%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 4.91%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 7.02% [1]
Less: Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (4.61%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 2.41% [1],[2]
1 Year rr_ExpenseExampleYear01 $ 344
3 Years rr_ExpenseExampleYear03 1,656
5 Years rr_ExpenseExampleYear05 3,011
10 Years rr_ExpenseExampleYear10 6,116
1 Year rr_ExpenseExampleNoRedemptionYear01 244
3 Years rr_ExpenseExampleNoRedemptionYear03 1,656
5 Years rr_ExpenseExampleNoRedemptionYear05 3,011
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 6,116
Virtus Essential Resources Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VERIX
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 1.10%
Distribution and Shareholder Servicing (12b-1) fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 4.91%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 6.02% [1]
Less: Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (4.61%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.41% [1],[2]
1 Year rr_ExpenseExampleYear01 $ 144
3 Years rr_ExpenseExampleYear03 1,378
5 Years rr_ExpenseExampleYear05 2,588
10 Years rr_ExpenseExampleYear10 5,505
1 Year rr_ExpenseExampleNoRedemptionYear01 144
3 Years rr_ExpenseExampleNoRedemptionYear03 1,378
5 Years rr_ExpenseExampleNoRedemptionYear05 2,588
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 5,505
[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 1.65% for Class A Shares, 2.40% for Class C Shares and 1.40% 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.
[3] The deferred sales charge is imposed on Class C Shares redeemed during the first year only.