v3.25.2
Label Element Value
Virtus KAR Equity Income Fund  
Risk/Return: oef_RiskReturnAbstract  
Supplement to Prospectus [Text Block] oef_SupplementToProspectusTextBlock

Supplement dated July 28, 2025 to the Fund’s Summary Prospectus

and the Virtus Equity Trust Statutory Prospectus, each dated January 28, 2025, as supplemented

IMPORTANT NOTICE TO INVESTORS

Effective July 28, 2025, the Fund’s investment adviser has implemented a new expense limitation arrangement to further limit the expenses of the Fund’s Class R6 Shares. The resulting changes to the Fund’s prospectuses are described in more detail below.

Under “Fees and Expenses” in the Fund’s summary prospectus and the summary section of the statutory prospectus, the “Shareholder Fees” and “Annual Fund Operating Expenses” tables and associated footnotes are hereby replaced with the following:
Risk/Return [Heading] oef_RiskReturnHeading Virtus KAR Equity Income Fund
Expense Heading [Optional Text] oef_ExpenseHeading Fees and Expenses
Shareholder Fees Caption [Optional Text] oef_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Optional Text] oef_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Expense Example [Heading] oef_ExpenseExampleHeading Example
Virtus KAR Equity Income Fund | Class A Shares  
Risk/Return: oef_RiskReturnAbstract  
Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) oef_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.50%
Maximum Deferred Sales Charge (as a percentage of Offering Price) oef_MaximumDeferredSalesChargeOverOfferingPrice 0.00%
Management Fees (as a percentage of Assets) oef_ManagementFeesOverAssets 0.75%
Distribution and Service (12b-1) Fees oef_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses (as a percentage of Assets): oef_OtherExpensesOverAssets 0.37% [1]
Expenses (as a percentage of Assets) oef_ExpensesOverAssets 1.37%
Fee Waiver or Reimbursement oef_FeeWaiverOrReimbursementOverAssets (0.17%) [2]
Net Expenses (as a percentage of Assets) oef_NetExpensesOverAssets 1.20% [2]
Expense Example, with Redemption, 1 Year oef_ExpenseExampleYear01 $ 666
Expense Example, with Redemption, 3 Years oef_ExpenseExampleYear03 928
Expense Example, with Redemption, 5 Years oef_ExpenseExampleYear05 1,227
Expense Example, with Redemption, 10 Years oef_ExpenseExampleYear10 2,077
Expense Example, No Redemption, 1 Year oef_ExpenseExampleNoRedemptionYear01 666
Expense Example, No Redemption, 3 Years oef_ExpenseExampleNoRedemptionYear03 928
Expense Example, No Redemption, 5 Years oef_ExpenseExampleNoRedemptionYear05 1,227
Expense Example, No Redemption, 10 Years oef_ExpenseExampleNoRedemptionYear10 $ 2,077
Virtus KAR Equity Income Fund | Class C Shares  
Risk/Return: oef_RiskReturnAbstract  
Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) oef_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 0.00%
Maximum Deferred Sales Charge (as a percentage of Offering Price) oef_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [3]
Management Fees (as a percentage of Assets) oef_ManagementFeesOverAssets 0.75%
Distribution and Service (12b-1) Fees oef_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses (as a percentage of Assets): oef_OtherExpensesOverAssets 0.44% [1]
Expenses (as a percentage of Assets) oef_ExpensesOverAssets 2.19%
Fee Waiver or Reimbursement oef_FeeWaiverOrReimbursementOverAssets (0.24%) [2]
Net Expenses (as a percentage of Assets) oef_NetExpensesOverAssets 1.95% [2]
Expense Example, with Redemption, 1 Year oef_ExpenseExampleYear01 $ 298
Expense Example, with Redemption, 3 Years oef_ExpenseExampleYear03 638
Expense Example, with Redemption, 5 Years oef_ExpenseExampleYear05 1,130
Expense Example, with Redemption, 10 Years oef_ExpenseExampleYear10 2,485
Expense Example, No Redemption, 1 Year oef_ExpenseExampleNoRedemptionYear01 198
Expense Example, No Redemption, 3 Years oef_ExpenseExampleNoRedemptionYear03 638
Expense Example, No Redemption, 5 Years oef_ExpenseExampleNoRedemptionYear05 1,130
Expense Example, No Redemption, 10 Years oef_ExpenseExampleNoRedemptionYear10 $ 2,485
Virtus KAR Equity Income Fund | Class I Shares  
Risk/Return: oef_RiskReturnAbstract  
Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) oef_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 0.00%
Maximum Deferred Sales Charge (as a percentage of Offering Price) oef_MaximumDeferredSalesChargeOverOfferingPrice 0.00%
Management Fees (as a percentage of Assets) oef_ManagementFeesOverAssets 0.75%
Distribution and Service (12b-1) Fees oef_DistributionAndService12b1FeesOverAssets 0.00%
Other Expenses (as a percentage of Assets): oef_OtherExpensesOverAssets 0.36% [1]
Expenses (as a percentage of Assets) oef_ExpensesOverAssets 1.11%
Fee Waiver or Reimbursement oef_FeeWaiverOrReimbursementOverAssets (0.16%) [2]
Net Expenses (as a percentage of Assets) oef_NetExpensesOverAssets 0.95% [2]
Expense Example, with Redemption, 1 Year oef_ExpenseExampleYear01 $ 97
Expense Example, with Redemption, 3 Years oef_ExpenseExampleYear03 320
Expense Example, with Redemption, 5 Years oef_ExpenseExampleYear05 580
Expense Example, with Redemption, 10 Years oef_ExpenseExampleYear10 1,322
Expense Example, No Redemption, 1 Year oef_ExpenseExampleNoRedemptionYear01 97
Expense Example, No Redemption, 3 Years oef_ExpenseExampleNoRedemptionYear03 320
Expense Example, No Redemption, 5 Years oef_ExpenseExampleNoRedemptionYear05 580
Expense Example, No Redemption, 10 Years oef_ExpenseExampleNoRedemptionYear10 $ 1,322
Virtus KAR Equity Income Fund | Class R6 Shares  
Risk/Return: oef_RiskReturnAbstract  
Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) oef_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 0.00%
Maximum Deferred Sales Charge (as a percentage of Offering Price) oef_MaximumDeferredSalesChargeOverOfferingPrice 0.00%
Management Fees (as a percentage of Assets) oef_ManagementFeesOverAssets 0.75%
Distribution and Service (12b-1) Fees oef_DistributionAndService12b1FeesOverAssets 0.00%
Other Expenses (as a percentage of Assets): oef_OtherExpensesOverAssets 0.29% [1]
Expenses (as a percentage of Assets) oef_ExpensesOverAssets 1.04%
Fee Waiver or Reimbursement oef_FeeWaiverOrReimbursementOverAssets (0.26%) [2]
Net Expenses (as a percentage of Assets) oef_NetExpensesOverAssets 0.78% [2]
Expense Example, with Redemption, 1 Year oef_ExpenseExampleYear01 $ 80
Expense Example, with Redemption, 3 Years oef_ExpenseExampleYear03 278
Expense Example, with Redemption, 5 Years oef_ExpenseExampleYear05 522
Expense Example, with Redemption, 10 Years oef_ExpenseExampleYear10 1,223
Expense Example, No Redemption, 1 Year oef_ExpenseExampleNoRedemptionYear01 80
Expense Example, No Redemption, 3 Years oef_ExpenseExampleNoRedemptionYear03 278
Expense Example, No Redemption, 5 Years oef_ExpenseExampleNoRedemptionYear05 522
Expense Example, No Redemption, 10 Years oef_ExpenseExampleNoRedemptionYear10 $ 1,223
[1]

Estimated for current fiscal year, 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 1.20% for Class A Shares, 1.95% for Class C Shares, 0.95% for Class I Shares and 0.78% for Class R6 Shares through September 12, 2027 (or, if later, the date that is two years after the reorganization of Virtus KAR Global Quality Dividend Fund with and into the fund) (the “Expense Limitation Term Date”). Prior to the Expense Limitation Term Date, only the fund’s Board may modify or terminate the expense limitation agreement. 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, and any in effect at the time of recapture, after repayment is taken into account.
[3]

The deferred sales charge is imposed on Class C Shares redeemed during the first year only.