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Virtus Tactical Allocation Fund  
Risk/Return: rr_RiskReturnAbstract  
Supplement to Prospectus [Text Block] rr_SupplementToProspectusTextBlock

Virtus Tactical Allocation Fund,

a series of Virtus Equity Trust

 

Supplement dated October 30, 2020 to the Summary Prospectus and Statutory Prospectus,

each, dated October 19, 2020, as supplemented

 

 

Important Notice to Investors

 

At a virtual Special Meeting of Shareholders held on October 14, 2020, shareholders approved an Agreement and Plan of Reorganization under which Virtus Rampart Multi-Asset Trend Fund, a series of the Virtus Opportunities Trust (the “Trust”), will be combined into Virtus Tactical Allocation Fund (the “Fund”).

 

In addition, at a virtual Special Meeting of Shareholders held on October 23, 2020, shareholders approved an Agreement and Plan of Reorganization under which Virtus Rampart Sector Trend Fund, a series of the Trust, will also be combined into the Fund.

 

As a result, the adviser to the Fund, Virtus Investment Advisers, Inc. (the “Adviser”), has contractually agreed to limit total operating expenses for the Fund, effective October 31, 2020. These changes are described in more detail below.
Risk/Return [Heading] rr_RiskReturnHeading Virtus Tactical Allocation Fund
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 will be 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 Jan. 31, 2022
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Estimated for current fiscal years as annualized.
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

Under “Fees and Expenses,” the “Example” table is hereby replaced with the following:
Expense Example Closing [Text Block] rr_ExpenseExampleClosingTextBlock

Investors should retain this supplement with the Prospectuses for future reference.
Virtus Tactical Allocation Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.26% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.06%
Less: Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.07%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.99% [2]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 672
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 885
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,123
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,804
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 672
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 885
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,123
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,804
Virtus Tactical Allocation Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.24% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.79%
Less: Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.04%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.75% [2]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 280
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 569
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 995
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,183
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 180
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 569
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 995
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,183
Virtus Tactical Allocation Fund | Class I  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.25% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.80%
Less: Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.04%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.76% [2]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 80
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 260
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 468
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 1,065
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 80
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 260
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 468
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,065
Virtus Tactical Allocation Fund | Class R6  
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.21% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.76%
Less: Fee Waiver and/or Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.16%) [2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.60% [2]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 61
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 210
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 390
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 911
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 61
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 210
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 390
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 911
[1] Estimated for current fiscal years as annualized.
[2] The fund’s investment adviser has contractually agreed to limit the fund’s total operating expenses (excluding certain expenses, such as front-end or contingent deferred sales charges, taxes, leverage and borrowing expenses (such as commitment, amendment and renewal expenses on credit or redemption facilities), interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, unusual or infrequently occurring expenses (such as litigation), acquired fund fees and expenses, and dividend expenses, if any) so that such expenses do not exceed 0.99% for Class A Shares, 1.75% for Class C Shares, 0.76% for Class I Shares, and 0.60% for Class R6 Shares through January 31, 2022. 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 and/or fees waived under these arrangements for a period of three years following the date such waiver or reimbursement occurred, provided that the recapture does not cause the fund to exceed its expense limit in effect at the time of the waiver or reimbursement, or at the time of recapture.