XML 35 R72.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Sep. 30, 2017
Registrant Name dei_EntityRegistrantName VIRTUS EQUITY TRUST
Central Index Key dei_EntityCentralIndexKey 0000034273
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol VET
Document Creation Date dei_DocumentCreationDate Jan. 25, 2018
Document Effective Date dei_DocumentEffectiveDate Jan. 29, 2018
Prospectus Date rr_ProspectusDate Jan. 29, 2018
Virtus Strategic Allocation Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
Virtus Strategic Allocation Fund
Objective [Heading] rr_ObjectiveHeading
Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The fund has investment objectives of reasonable income, long-term capital growth and conservation of capital.
Expense [Heading] rr_ExpenseHeading
Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
The tables below illustrate all fees and expenses that you may pay if you buy and hold shares of the fund. You may qualify for sales charge discounts in Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in Virtus Funds. You may qualify for sales charge discounts in Class T Shares if you invest at least $250,000 in the fund. More information on these and other discounts is available: (i) from your financial advisor or other financial intermediary; (ii) under “Sales Charges” on page 80 of the fund’s prospectus; (iii) with respect to purchase of shares through specific intermediaries, in Appendix A to the fund’s prospectus, entitled “Intermediary Sales Charge Discounts and Waivers;” and (iv) under “Alternative Purchase Arrangements” on page 92 of the fund’s statement of additional information (“SAI”).
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 period, the fund’s portfolio turnover rate was 24% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 24.00%
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 in Class A Shares if you and your family invest, or agree to invest in the future, at least $50,000 in Virtus Funds. You may qualify for sales charge discounts in Class T Shares if you invest at least $250,000 in the fund.
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates
Estimated for current fiscal year, as annualized.
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 an investment of $10,000 in the fund for the time periods indicated. It shows your costs if you sold your shares at the end of the period or continued to hold them. 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 targets an asset allocation consisting of approximately 45% in U.S. equity securities, 15% in non-U.S. equity securities and 40% in fixed income securities. For the fund’s U.S equity allocation, the subadviser invests in a select group of large market capitalization growth companies believed by the fund's subadviser to be undervalued relative to their future growth potential. The investment strategy emphasizes companies the subadviser believes to have a sustainable competitive advantage, strong management and low financial risk, and to be able to grow over market cycles. For the fund's non-U.S. equity exposure, which may be implemented through American Depositary Receipts (ADRs), the subadviser's process is driven by bottom-up fundamental research and informed by top-down macro views. For the fixed income allocation, the subadviser employs a time-tested approach of active sector rotation, extensive credit research, and disciplined risk management designed to capitalize on opportunities across the fixed income markets. Allocation percentages are measured at time of purchase.

Under normal market circumstances, the fund invests at least 65% of its assets in common stocks and fixed income securities of both U.S. and foreign issuers, including issuers in emerging market countries, and may invest in issuers of any size. The equity allocation is invested in common, preferred, and ADR securities. The fund invests the fixed income portion of its portfolio in all sectors of fixed income securities, primarily in investment grade bonds; however, it may invest in high-yield/high-risk fixed income securities ("junk bonds"), including bank loans (which are generally floating rate). These sectors include, but are not limited to mortgage- and asset-backed, government, corporate, and municipal debt obligations. Normally, the fund’s fixed income allocation has a dollar-weighted average duration of between two and eight years.
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 subadvisers expect. 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:

>      Credit Risk.   The risk that the issuer of a security will fail to pay interest or principal in a timely manner, or that negative perceptions of the issuer's ability to make such payments will cause the price of the security to decline.

​

>      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.

​

>      Depositary Receipts Risk.  The risk that investments in foreign companies through depositary receipts will expose the fund to the same risks as direct investments in securities of foreign issuers.

​

>      Emerging Market Investing 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.

​

>      Growth Stocks Risk.  The risk that the fund's investments in growth stocks will be more volatile than investments in other types of stocks, or will perform differently from the market as a whole and from other types of stocks.

​

>      High-Yield/High-Risk Fixed Income Securities (Junk Bonds) Risk.  The risk that the issuers of high-yield/​high-risk securities in the fund's portfolio will default, that the prices of such securities will be volatile, and that the securities will not be liquid.

​

>      Interest Rate Risk.  The risk that when interest rates rise, the values of the fund's debt securities, especially those with longer maturities, will fall.

​

>      Large Market Capitalization Companies Risk.  The risk that the value of investments in larger companies may not rise as much as smaller companies, or that larger companies may be unable to respond quickly to competitive challenges, such as changes in technology and consumer tastes.

​

>      Loan Risk.  The risks that, in addition to the risks typically associated with high-yield/high-risk fixed income securities, loans (including floating rate loans) in which the fund invests may be unsecured or not fully collateralized, may be subject to restrictions on resale, and/or some loans may trade infrequently on the secondary market. Loans settle on a delayed basis, potentially leading to the sale proceeds of loans not being available to meet redemptions for a substantial period of time after the sale of the loans.

​

>      Long-Term Maturities/Durations Risk.  The risk of greater price fluctuations than would be associated with securities having shorter maturities or durations.

​

>      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 issuers and/or general economic conditions. Such price changes may be temporary or may last for extended periods.

​

>      Mortgage-Backed and Asset-Backed Securities Risk.  The risk that changes in interest rates will cause both extension and prepayment risks for mortgage-backed and asset-backed securities in which the fund invests, or that an impairment of the value of collateral underlying such securities will cause the value of the securities to decrease.

​

>      Municipal Bond Market Risk.  The risk that events negatively impacting a particular municipal security, or the municipal bond market in general, will cause the value of the fund's shares to decrease, perhaps significantly.

​

>      Preferred Stock Risk.  The risk that a preferred stock will decline in price, fail to pay dividends when expected, or be illiquid.

​

>      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.
 
Performance for Class T Shares is not shown here as Class T Shares have not begun operations as of the date of this prospectus.
 
The bar chart shows changes in the fund’s performance from year to year over a 10-year period. The table shows how the fund’s average annual returns compare to those of three broad-based securities market indexes and a composite benchmark that reflects the target allocation of the fund. 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 changes in the fund’s performance from year to year over a 10-year period. The table shows how the fund’s average annual returns compare to those of three broad-based securities market indexes and a composite benchmark that reflects the target allocation of the fund.
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 (includes returns of a predecessor fund)
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:
 ​ ​
Q2/2009:
 ​ ​
13.92%
 ​ ​
Worst Quarter:
 ​ ​
Q4/2008:
 ​ ​
-14.51%
 ​ ​
Performance Table Heading rr_PerformanceTableHeading
Average Annual Total Returns (for the periods ended 12/31/17; includes returns of a predecessor fund)
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 Bloomberg Barclays U.S. Aggregate Bond Index measures the U.S. investment grade fixed rate bond market. The index is calculated on a total-return basis. 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 index is calculated on a total return basis with net dividends reinvested. The Russell 1000® Growth Index is a market capitalization-weighted index of growth-oriented stocks of the 1,000 largest companies in the Russell Universe, which comprises the 3,000 largest U.S. companies. The index is calculated on a total return basis with dividends reinvested. Effective September 7, 2016, the Strategic Allocation Linked Benchmark consists of 45% Russell 1000® Growth Index, 15% MSCI EAFE® Index, and 40% Bloomberg Barclays U.S. Aggregate Bond Index. Performance of the Strategic Allocation Linked Benchmark prior to September 7, 2016 represents an allocation consisting of 60% S&P 500® Index and 40% Bloomberg Barclays U.S. Aggregate Bond Index. 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 Strategic Allocation Fund | Class A  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol PHBLX
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 0.55%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.35% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.16% [2]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 50,000
1 Year rr_ExpenseExampleYear01 686
3 Years rr_ExpenseExampleYear03 922
5 Years rr_ExpenseExampleYear05 1,177
10 Years rr_ExpenseExampleYear10 1,903
1 Year rr_ExpenseExampleNoRedemptionYear01 686
3 Years rr_ExpenseExampleNoRedemptionYear03 922
5 Years rr_ExpenseExampleNoRedemptionYear05 1,177
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,903
2008 rr_AnnualReturn2008 (25.84%)
2009 rr_AnnualReturn2009 23.38%
2010 rr_AnnualReturn2010 11.82%
2011 rr_AnnualReturn2011 1.48%
2012 rr_AnnualReturn2012 12.09%
2013 rr_AnnualReturn2013 15.44%
2014 rr_AnnualReturn2014 4.67%
2015 rr_AnnualReturn2015 (3.99%)
2016 rr_AnnualReturn2016 0.45%
2017 rr_AnnualReturn2017 19.72%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 13.92%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (14.51%)
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 12.84%
5 Years rr_AverageAnnualReturnYear05 5.63%
10 Years rr_AverageAnnualReturnYear10 4.35%
Virtus Strategic Allocation Fund | Class C  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol PSBCX
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 0.55%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.35% [1]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.91% [2]
1 Year rr_ExpenseExampleYear01 $ 294
3 Years rr_ExpenseExampleYear03 600
5 Years rr_ExpenseExampleYear05 1,032
10 Years rr_ExpenseExampleYear10 2,233
1 Year rr_ExpenseExampleNoRedemptionYear01 194
3 Years rr_ExpenseExampleNoRedemptionYear03 600
5 Years rr_ExpenseExampleNoRedemptionYear05 1,032
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,233
Label rr_AverageAnnualReturnLabel Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 18.82%
5 Years rr_AverageAnnualReturnYear05 6.09%
10 Years rr_AverageAnnualReturnYear10 4.18%
Virtus Strategic Allocation Fund | Class T  
Risk/Return: rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol VSATX
Maximum Sales Charge (load) Imposed on Purchases (as a percentage of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 2.50%
Maximum Deferred Sales Charge (load) (as a percentage of the lesser of purchase price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.55%
Distribution and Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.35% [4]
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.01% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.16% [2]
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 250,000
1 Year rr_ExpenseExampleYear01 365
3 Years rr_ExpenseExampleYear03 609
5 Years rr_ExpenseExampleYear05 872
10 Years rr_ExpenseExampleYear10 1,624
1 Year rr_ExpenseExampleNoRedemptionYear01 365
3 Years rr_ExpenseExampleNoRedemptionYear03 609
5 Years rr_ExpenseExampleNoRedemptionYear05 872
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,624
Virtus Strategic Allocation Fund | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 12.12%
5 Years rr_AverageAnnualReturnYear05 3.72%
10 Years rr_AverageAnnualReturnYear10 3.15%
Virtus Strategic Allocation 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 7.56%
5 Years rr_AverageAnnualReturnYear05 3.98%
10 Years rr_AverageAnnualReturnYear10 3.16%
Virtus Strategic Allocation Fund | Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)  
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 Bloomberg Barclays U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 3.54%
5 Years rr_AverageAnnualReturnYear05 2.10%
10 Years rr_AverageAnnualReturnYear10 4.01%
Virtus Strategic Allocation Fund | MSCI EAFE® Index (net) (reflects no deduction for fees, expenses or taxes)  
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® Index (net) (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 25.03%
5 Years rr_AverageAnnualReturnYear05 7.90%
10 Years rr_AverageAnnualReturnYear10 1.94%
Virtus Strategic Allocation Fund | Russell 1000® Growth Index (reflects no deduction for fees, expenses or taxes)  
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 Russell 1000® Growth Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 30.21%
5 Years rr_AverageAnnualReturnYear05 17.33%
10 Years rr_AverageAnnualReturnYear10 10.00%
Virtus Strategic Allocation Fund | Strategic Allocation Linked Benchmark (reflects no deduction for fees, expenses or taxes)  
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 Strategic Allocation Linked Benchmark (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 18.18%
5 Years rr_AverageAnnualReturnYear05 10.58%
10 Years rr_AverageAnnualReturnYear10 7.14%
[1] Restated to reflect certain contract and expense allocation changes.
[2] 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.
[3] The deferred sales charge is imposed on Class C Shares redeemed during the first year only.
[4] Estimated for current fiscal year, as annualized.