0001572617 2026-01-01 2026-06-30 0001572617 cik0001572617:C000194736Member 2026-01-01 2026-06-30 0001572617 cik0001572617:C000194735Member 2026-01-01 2026-06-30 0001572617 cik0001572617:C000127094Member 2026-01-01 2026-06-30 0001572617 cik0001572617:C000127095Member 2026-01-01 2026-06-30 0001572617 cik0001572617:C000194736Member 2026-06-30 0001572617 cik0001572617:C000194736Member us-gaap:FinancialServicesSectorMember 2026-06-30 0001572617 cik0001572617:C000194736Member oef:ConsumerStaplesSectorMember 2026-06-30 0001572617 cik0001572617:C000194736Member us-gaap:HealthcareSectorMember 2026-06-30 0001572617 cik0001572617:C000194735Member 2026-06-30 0001572617 cik0001572617:C000194735Member us-gaap:FinancialServicesSectorMember 2026-06-30 0001572617 cik0001572617:C000194735Member oef:ConsumerStaplesSectorMember 2026-06-30 0001572617 cik0001572617:C000194735Member us-gaap:HealthcareSectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member 2026-06-30 0001572617 cik0001572617:C000127094Member oef:InformationTechnologySectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member us-gaap:FinancialServicesSectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member oef:UtilitiesSectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member oef:ConsumerStaplesSectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member oef:CommunicationsSectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member oef:IndustrialSectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member oef:ConsumerDiscretionarySectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member us-gaap:HealthcareSectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member us-gaap:EnergySectorMember 2026-06-30 0001572617 cik0001572617:C000127094Member oef:MaterialsSectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member 2026-06-30 0001572617 cik0001572617:C000127095Member oef:CommunicationsSectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member oef:IndustrialSectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member oef:ConsumerDiscretionarySectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member us-gaap:HealthcareSectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member us-gaap:EnergySectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member oef:MaterialsSectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member oef:InformationTechnologySectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member us-gaap:FinancialServicesSectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member oef:UtilitiesSectorMember 2026-06-30 0001572617 cik0001572617:C000127095Member oef:ConsumerStaplesSectorMember 2026-06-30 iso4217:USD pure cik0001572617:Holding N-CSRS false 0001572617 N-1A Virtus Event Opportunities Trust 2026-06-30 Virtus Westchester Credit Event Fund Class A WCFRX This semi-annual shareholder report contains important information about the Virtus Westchester Credit Event Fund (“Fund”) for the period of January 1, 2026 to June 30, 2026. semi-annual shareholder report You can find additional information about the Fund at https://www.virtus.com/investor-resources/mutual-fund-documents. You can also request this information by contacting us at 1-800-243-1574. https://www.virtus.com/investor-resources/mutual-fund-documents 1-800-243-1574 <div style="margin-top: 0; font-weight: bold; margin-bottom: 3pt; font-family: 'Arial'; font-size: 11.5pt; color: inherit;">What were the Fund costs for the last six months?</div><div style="margin-top: 0; margin-bottom: 0; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial';">(Based on a hypothetical $10,000 investment)</div> <table style="text-align:start; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid; padding: 6pt 3pt 3pt; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-family: Arial; vertical-align: bottom;"><div style="font-weight:bolder;display:inline;">Fund (Class)</div></td> <td style="break-inside: avoid; text-align: right; padding: 6pt 3pt 3pt; font-size: 9pt; color: rgb(0, 0, 0); font-family: Arial; vertical-align: bottom;"><div style="font-weight:bolder;display:inline;">Costs of a $10,000 investment</div></td> <td style="break-inside: avoid; text-align: right; padding: 6pt 3pt 3pt; font-size: 9pt; color: rgb(0, 0, 0); font-family: Arial; vertical-align: bottom; width: 150pt;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; vertical-align: bottom;">Virtus Westchester Credit Event Fund<br/>Class A / WCFRX</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>82</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; white-space: nowrap; vertical-align: bottom;">1.65<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 82 0.0165 <div style="font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="margin-top: 5pt; margin-bottom: 5pt; font-family: 'Arial'; font-size: 9pt; letter-spacing: 1.25px; text-align: center; padding-bottom: 5pt; margin-right: 0; margin-left: 0; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; font-weight: bold; color: inherit; text-transform: none;">KEY FUND STATISTICS (as of June 30, 2026)</div></div><div style="font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); width: auto; margin-bottom: 14pt;"> <table style="text-align:start; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; padding-right: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 18pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Fund net assets (‘000s)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 18pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; white-space: nowrap;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>82,258</td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 18pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Total number of portfolio holdings</div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 18pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; white-space: nowrap;">277</td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Portfolio turnover rate as of the end of the reporting period</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; white-space: nowrap;">60<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div>

82258000

277

0.60

82258000

277

0.60

129687000

578

1.16

<div style="margin-top: 5pt; margin-bottom: 5pt; font-family: 'Arial'; font-size: 9pt; letter-spacing: 1.25px; text-align: center; padding-bottom: 5pt; margin-right: 0; margin-left: 0; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; font-weight: bold; color: inherit; text-transform: none;"><div style="font-weight:bolder;display:inline;">Asset All<div style="display:inline;">o</div>cation<div style="vertical-align: super; font-size: 6pt; line-height: 1;display:inline;font-size:6.6px">(1)</div></div> </div> <table style="text-align:start; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Communication Services</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">30 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"><div style="display: inline; letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Industrials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">15 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Consumer Discretionary</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">12 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Health Care</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">11 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Energy</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">10 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Materials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">8 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Information Technology</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">5 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Financials</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">4 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Utilities</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">3 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Consumer Staples</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0);">2 </td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; white-space: nowrap;"></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Total</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial';">100</td> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; width: auto; vertical-align: top; font-family: 'Arial'; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> <table style="text-align:start; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; width: auto; margin-top: 6pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; font-family: 'Arial'; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; width: 13pt; text-align: left; vertical-align: text-top; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 3pt;"><div style="margin-top: 0px; font-weight: normal; color: rgb(0, 0, 0); font-family: Arial; font-size: 8pt; margin-bottom: 5pt; line-height: normal;"><div style="vertical-align: super; font-size: 6pt; line-height: 1;display:inline;font-size:6.6px">(1)</div></div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: text-top; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;"><div style="margin-top: 0px; font-weight: normal; color: rgb(0, 0, 0); font-family: Arial; font-size: 8pt; margin-bottom: 5pt; line-height: normal;">Percentage of total investments as of June 30, 2026. </div></td></tr></table> 0.30 0.15 0.12 0.11 0.10 0.08 0.05 0.04 0.03 0.02 1 Virtus Westchester Event-Driven Fund Class I WCEIX This semi-annual shareholder report contains important information about the Virtus Westchester Event-Driven Fund (“Fund”) for the period of January 1, 2026 to June 30, 2026. semi-annual shareholder report You can find additional information about the Fund at https://www.virtus.com/investor-resources/mutual-fund-documents. You can also request this information by contacting us at 1-800-243-1574. https://www.virtus.com/investor-resources/mutual-fund-documents 1-800-243-1574 <div style="margin-top: 0; font-weight: bold; margin-bottom: 3pt; font-family: 'Arial'; font-size: 11.5pt; color: inherit;">What were the Fund costs for the last six months?</div><div style="margin-top: 0; margin-bottom: 0; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial';">(Based on a hypothetical $10,000 investment)</div> <table style="text-align:start; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;"> <tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;"> <td style="break-inside: avoid; padding: 6pt 3pt 3pt; font-size: 9pt; color: rgb(0, 0, 0); text-align: left; font-family: Arial; vertical-align: bottom;"><div style="font-weight:bolder;display:inline;">Fund (Class)</div></td> <td style="break-inside: avoid; text-align: right; padding: 6pt 3pt 3pt; font-size: 9pt; color: rgb(0, 0, 0); font-family: Arial; vertical-align: bottom;"><div style="font-weight:bolder;display:inline;">Costs of a $10,000 investment</div></td> <td style="break-inside: avoid; text-align: right; padding: 6pt 3pt 3pt; font-size: 9pt; color: rgb(0, 0, 0); font-family: Arial; vertical-align: bottom; width: 150pt;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial'; vertical-align: bottom;">Virtus Westchester Event-Driven Fund<br/>Class I / WCEIX</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>76</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; white-space: nowrap; vertical-align: bottom;">1.53<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 76 0.0153 <div style="font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="margin-top: 5pt; margin-bottom: 5pt; font-family: 'Arial'; font-size: 9pt; letter-spacing: 1.25px; text-align: center; padding-bottom: 5pt; margin-right: 0; margin-left: 0; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; font-weight: bold; color: inherit; text-transform: none;">KEY FUND STATISTICS (as of June 30, 2026)</div></div><div style="font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); width: auto; margin-bottom: 14pt;"> <table style="text-align:start; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; padding-right: 10pt;"> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 18pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Fund net assets (‘000s)</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 18pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; white-space: nowrap;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>129,687</td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(128, 128, 128); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 18pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Total number of portfolio holdings</div></td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 18pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; white-space: nowrap;">578</td></tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); text-align: left; font-family: 'Arial';">Portfolio turnover rate as of the end of the reporting period</td> <td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; white-space: nowrap;">116<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div>

129687000

578

1.16