Jun. 30, 2026 |
| Virtus Emerging Markets Opportunities Fund
|
Risk Table - Virtus Emerging Markets Opportunities Fund
|
Risk [Text Block] |
| Principal Risks |
Principal Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first eight risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Emerging Market Risk |
> Emerging Market Risk: Emerging markets securities
may be more volatile, or more greatly affected by negative conditions, than those of their counterparts
in more established foreign markets. Such securities may also be subject to Sanctions Risk.
|
| Investing in China Risk |
> Investing in China Risk: The government of China
maintains strict currency controls in order to achieve economic, trade and political objectives and regularly
intervenes in the currency market. The Chinese government also plays a major role in the country’s
economic policies regarding foreign investments. Foreign investors are subject to the risk of loss from
expropriation or nationalization of their investment assets and property, governmental restrictions on
foreign investments and the repatriation of capital invested. In addition, the rapid growth rate of the
Chinese economy over the past several years may not continue, and the trend toward economic liberalization
and disparities in wealth may result in social disorder, including violence and labor unrest. These and
other factors could have a negative impact on the fund’s performance and increase the volatility
of an investment in the fund. Certain securities issued by companies located or operating in China, such
as China A-shares, are also subject to trading restrictions, quota limitations and less market liquidity,
which could pose risks to the fund.
|
| Sanctions Risk |
> Sanctions
Risk: The imposition of sanctions and other similar measures could
cause a decline in the value and/or liquidity of securities issued by or tied to the sanctioned country
and increase market volatility and disruption in the sanctioned country and throughout the world. Sanctions
and other similar measures could limit or prevent the fund from buying and selling securities (in the
sanctioned country and other markets), significantly delay or prevent the settlement of transactions,
and negatively impact the fund’s liquidity and performance.
|
| Focused Investment Risk |
> Focused Investment Risk: To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries, geographic regions or portfolio
themes, it may be subject to increased risk and volatility.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies.
|
| Counterparty Risk |
> Counterparty Risk: There is risk that a party
upon whom the fund relies to complete a transaction will default.
|
| Credit Risk |
> Credit Risk: If the issuer of a debt instrument fails to
pay interest or principal in a timely manner, or negative perceptions exist in the market of the issuer’s
ability to make such payments, the price of the security may decline.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary Receipts Risk:
Investments in foreign companies through depositary receipts may expose the fund to the same risks as
direct investments in securities of foreign issuers.
|
| Derivatives Risk |
> Derivatives Risk: Derivatives and other similar
instruments (collectively referred to in this section as “derivatives”) may include, among
other things, futures, options, forwards, and swap agreements, and may be used in order to hedge portfolio
risks, create leverage or attempt to increase returns. Investments in derivatives may result in increased
volatility and the fund may incur a loss greater than its principal investment.
|
| Leverage Risk |
> Leverage Risk: When the fund leverages its portfolio by borrowing
or by engaging in certain types of transactions or instruments, including derivatives, the fund may be
less liquid, may liquidate positions at an unfavorable time, and the volatility of the fund’s value
may increase.
|
| Liquidity Risk |
> Liquidity Risk: Certain
instruments may be difficult or impossible to sell at a time and price beneficial to the fund.
|
| Portfolio Turnover Risk |
> Portfolio Turnover Risk: The fund’s principal
investment strategies may result in a high portfolio turnover rate. See the “Portfolio Turnover”
section above for more information about the impact that portfolio turnover can have on your investment.
|
| Preferred Stocks Risk |
> Preferred Stocks Risk: Preferred stocks may decline
in price, fail to pay dividends when expected, or be illiquid.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus Income & Growth Fund
|
Risk Table - Virtus Income & Growth Fund
|
Risk [Text Block] |
| Principal Risks |
Principal
Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first nine risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| High-Yield/High-Risk Fixed Income Securities (Junk Bonds) Risk |
> High-Yield/High-Risk Fixed Income Securities (Junk Bonds) Risk: There
is a greater risk of issuer default, less liquidity, and increased price volatility related to high-yield/high-risk
securities than investment grade securities, and high-yield/high-risk securities are generally considered
to be speculative.
|
| Bank Loan Risk |
> Bank
Loan Risk: In addition to the risks typically associated with high-yield/high-risk
fixed income securities, bank loans may be unsecured or not fully collateralized, may be subject to restrictions
on resale, may be less liquid and may trade infrequently on the secondary market. Bank loans settle on
a delayed basis; thus, sale proceeds may not be available to meet redemptions for a substantial period
of time after the sale of the loan.
|
| Equity Securities Risk |
> Equity
Securities Risk: The value of the stocks
held by the fund may be negatively affected by the financial market, industries in which the fund invests,
or issuer-specific events. Focus on a particular style or in small or medium-sized companies may enhance
that risk.
|
| Credit Ratings and Unrated Securities Risk |
> Credit Ratings and Unrated Securities Risk: If a subadviser is unable to accurately assess the quality of an unrated fixed
income security or the credit rating assigned by a rating agency does not reflect an issuer’s current
financial condition or credit quality, the fund may invest in a security with greater risk than intended,
or the securities may be more difficult to sell than anticipated.
|
| Debt Instruments Risk |
> Debt Instruments Risk: Debt instruments are subject
to greater levels of credit and liquidity risk, may be speculative and may decline in value due to changes
in interest rates or an issuer’s or counterparty’s deterioration or default.
|
| Derivatives Risk |
> Derivatives Risk: Derivatives and other similar
instruments (collectively referred to in this section as “derivatives”) may include, among
other things, futures, options, forwards, and swap agreements, and may be used in order to hedge portfolio
risks, create leverage or attempt to increase returns. Investments in derivatives may result in increased
volatility and the fund may incur a loss greater than its principal investment.
|
| Convertible Securities Risk |
> Convertible Securities Risk: The value of a convertible
security may decline as interest rates rise and/or vary with fluctuations in the market value of the
underlying securities. The security may be called for redemption at a time and/or price unfavorable to
the fund.
|
| Allocation Risk |
> Allocation
Risk: If the fund’s exposure to equities and fixed income
securities, or to other asset classes, deviates from the intended allocation, or if the fund’s
allocation is not optimal for market conditions at a given time, the fund’s performance may suffer.
|
| Contingent Convertible Securities Risk |
> Contingent Convertible Securities Risk: Contingent convertible
securities (“CoCos”) are subject to greater levels of credit and liquidity risk than fixed
income securities generally. They may rank junior to other creditors in the event of a liquidation or
other bankruptcy-related event and become further subordinated as a result of conversion from debt to
equity.
|
| Counterparty Risk |
> Counterparty Risk:
There is risk that a party upon whom the fund relies to complete a transaction will default.
|
| Covenant Lite Loans Risk |
> Covenant Lite Loans Risk: The lack of financial maintenance
covenants in covenant lite loans increases the risk that the fund will experience difficulty or delays
in enforcing its rights on its holdings of such loans, which may result in losses, especially during
a downturn in the credit cycle.
|
| Credit Risk |
> Credit
Risk: If the issuer of a debt instrument fails to pay interest or
principal in a timely manner, or negative perceptions exist in the market of the issuer’s ability
to make such payments, the price of the security may decline.
|
| Currency Rate Risk |
> Currency
Rate Risk: 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 |
> Depositary Receipts Risk: Investments in foreign
companies through depositary receipts may expose the fund to the same risks as direct investments in
securities of foreign issuers.
|
| Emerging Market Risk |
> Emerging
Market Risk: Emerging markets securities may be more volatile, or more
greatly affected by negative conditions, than those of their counterparts in more established foreign
markets. Such securities may also be subject to Sanctions Risk.
|
| Equity Linked Notes (ELNs) Risk |
> Equity Linked Notes (ELNs) Risk: When the fund invests in
ELNs, it receives cash but limits its opportunity to profit from an increase in the market value of the
reference benchmark because of the limits relating to the call options written within the particular
ELN. Investments in ELNs often have risks similar to the reference benchmark, which include market risk.
Should the price of the reference benchmark move in an unexpected manner, the fund may not achieve the
anticipated benefits of an investment in an ELN, and may realize losses, which could be significant and
could include the fund’s entire principal investment.
|
| Focused Investment Risk |
> Focused Investment Risk: To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries, geographic regions or portfolio
themes, it may be subject to increased risk and volatility.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Growth Stocks Risk |
> Growth Stocks Risk: The fund’s investments
in growth stocks may be more volatile than investments in other types of stocks, or may perform differently
from the market as a whole and from other types of stocks.
|
| Income Risk |
> Income Risk: Income received from the fund may vary widely
over the short- and long-term and/or be less than anticipated if the proceeds from maturing securities
in the fund are reinvested in lower-yielding securities.
|
| Interest Rate Risk |
> Interest
Rate Risk: The values of debt instruments may rise or fall in response
to changes in interest rates, and this risk may be enhanced for securities with longer maturities.
|
| Large Market Capitalization Companies Risk |
> Large Market Capitalization Companies Risk:
The value of investments in larger companies may not rise as much as smaller companies, or larger companies
may be unable to respond quickly to competitive challenges, such as changes in technology and consumer
tastes.
|
| Leverage Risk |
> Leverage Risk: When
the fund leverages its portfolio by borrowing or by engaging in certain types of transactions or instruments,
including derivatives, the fund may be less liquid, may liquidate positions at an unfavorable time, and
the volatility of the fund’s value may increase.
|
| Liquidity Risk |
> Liquidity
Risk: Certain instruments may be difficult or impossible to sell
at a time and price beneficial to the fund.
|
| Redemption Risk |
> Redemption
Risk: One or more large shareholders or groups of shareholders may
redeem their holdings in the fund, resulting in an adverse impact on remaining shareholders in the fund
by causing the fund to take actions it would not otherwise have taken. The effects of taxable gains resulting
from large redemptions of fund shares would particularly impact non-redeeming shareholders who do not
hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large shareholder redemptions,
which may occur rapidly or unexpectedly, may cause a fund to sell portfolio securities at times when
it would not otherwise do so, which may negatively impact the fund’s net asset value and liquidity.
In addition, a large redemption could result in the fund’s current expenses being allocated over
a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Sanctions Risk |
> Sanctions Risk: The imposition of sanctions and other similar
measures could cause a decline in the value and/or liquidity of securities issued by or tied to the sanctioned
country and increase market volatility and disruption in the sanctioned country and throughout the world.
Sanctions and other similar measures could limit or prevent the fund from buying and selling securities
(in the sanctioned country and other markets), significantly delay or prevent the settlement of transactions,
and negatively impact the fund’s liquidity and performance.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus KAR Global Small-Cap Fund
|
Risk Table - Virtus KAR Global Small-Cap Fund
|
Risk [Text Block] |
| Principal Risks |
Principal
Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first six risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Emerging Market Risk |
> Emerging Market Risk: Emerging markets securities
may be more volatile, or more greatly affected by negative conditions, than those of their counterparts
in more established foreign markets. Such securities may also be subject to Sanctions Risk.
|
| Sanctions Risk |
> Sanctions Risk: The imposition of sanctions and other similar
measures could cause a decline in the value and/or liquidity of securities issued by or tied to the sanctioned
country and increase market volatility and disruption in the sanctioned country and throughout the world.
Sanctions and other similar measures could limit or prevent the fund from buying and selling securities
(in the sanctioned country and other markets), significantly delay or prevent the settlement of transactions,
and negatively impact the fund’s liquidity and performance.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary Receipts Risk:
Investments in foreign companies through depositary receipts may expose the fund to the same risks as
direct investments in securities of foreign issuers.
|
| Limited Number of Investments Risk |
> Limited
Number of Investments Risk: Because the fund may have a limited number
of securities, it may be more susceptible to factors adversely affecting its securities than a fund with
a greater number of securities.
|
| Liquidity Risk |
> Liquidity Risk: Certain
instruments may be difficult or impossible to sell at a time and price beneficial to the fund.
|
| Preferred Stocks Risk |
> Preferred Stocks Risk: Preferred stocks may decline
in price, fail to pay dividends when expected, or be illiquid.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus KAR Health Sciences Fund
|
Risk Table - Virtus KAR Health Sciences Fund
|
Risk [Text Block] |
| Principal Risks |
Principal
Risks 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. In addition, you will also be subject to the risks associated with the principal investment
strategies of any closed-end funds and ETFs in which the fund invests. Purchase and redemption activities
by fund shareholders may impact the management of the fund and its ability to achieve its investment
objective(s). The principal risks of investing in the fund are identified below (in alphabetical order
after the first six risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market
Volatility Risk: The value of the securities in the fund may go up or down
in response to the prospects of individual companies and/or general economic conditions. Price changes
may be short- or long-term. Local, regional or global events such as war or military conflict (e.g.,
Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the spread of infectious illness
or other public health issue, recessions, tariffs and other restrictions on trade, or the threat or potential
of one or more such events and developments, could have a significant impact on the fund and its investments,
including hampering the ability of the fund’s portfolio manager(s) to invest the fund’s assets
as intended.
|
| Issuer Risk |
> Issuer Risk: The
fund will be affected by factors specific to the issuers of securities and other instruments in which
the fund invests, including actual or perceived changes in the financial condition or business prospects
of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk:
The value of the stocks held by the fund may be negatively affected by the financial
market, industries in which the fund invests, or issuer-specific events. Focus on a particular style
or in small or medium-sized companies may enhance that risk.
|
| Focused Investment Risk (Health Sciences-Related Risk) |
> Focused
Investment Risk (Health Sciences-Related Risk): To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries or geographic regions, it may be
subject to increased risk and volatility. Risks affecting companies in the health sciences sector include
new government regulations or changes to existing regulations, changes in government subsidy and reimbursement
levels and product or service approvals, rapid obsolescence of products or services, dramatic fluctuations
of economic prospects and healthcare-related liability issues.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary Receipts Risk:
Investments in foreign companies through depositary receipts may expose the fund to the same risks as
direct investments in securities of foreign issuers.
|
| IPO Risk |
> IPO
Risk: Securities purchased in initial public offerings have no trading
history, limited issuer information and increased volatility.
|
| Liquidity Risk |
> Liquidity
Risk: Certain instruments may be difficult or impossible to sell
at a time and price beneficial to the fund.
|
| Portfolio Turnover Risk |
> Portfolio
Turnover Risk: The fund’s principal investment strategies may result
in a high portfolio turnover rate. See the “Portfolio Turnover” section above for more information
about the impact that portfolio turnover can have on your investment.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus NFJ Dividend Value Fund
|
Risk Table - Virtus NFJ Dividend Value Fund
|
Risk [Text Block] |
| Principal Risks |
Principal
Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first three risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Counterparty Risk |
> Counterparty
Risk: There is risk that a party upon whom the fund relies to complete a transaction
will default.
|
| Credit Risk |
> Credit Risk: If
the issuer of a debt instrument fails to pay interest or principal in a timely manner, or negative perceptions
exist in the market of the issuer’s ability to make such payments, the price of the security may
decline.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary
Receipts Risk: Investments in foreign companies through depositary receipts
may expose the fund to the same risks as direct investments in securities of foreign issuers.
|
| Derivatives Risk |
> Derivatives Risk: Derivatives and other similar
instruments (collectively referred to in this section as “derivatives”) may include, among
other things, futures, options, forwards, and swap agreements, and may be used in order to hedge portfolio
risks, create leverage or attempt to increase returns. Investments in derivatives may result in increased
volatility and the fund may incur a loss greater than its principal investment.
|
| Emerging Market Risk |
> Emerging Market Risk: Emerging markets securities
may be more volatile, or more greatly affected by negative conditions, than those of their counterparts
in more established foreign markets. Such securities may also be subject to Sanctions Risk.
|
| Sanctions Risk |
> Sanctions Risk: The imposition of sanctions and other similar
measures could cause a decline in the value and/or liquidity of securities issued by or tied to the sanctioned
country and increase market volatility and disruption in the sanctioned country and throughout the world.
Sanctions and other similar measures could limit or prevent the fund from buying and selling securities
(in the sanctioned country and other markets), significantly delay or prevent the settlement of transactions,
and negatively impact the fund’s liquidity and performance.
|
| Focused Investment Risk |
> Focused Investment Risk: To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries, geographic regions or portfolio
themes, it may be subject to increased risk and volatility.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Liquidity Risk |
> Liquidity Risk: Certain instruments may be difficult or impossible
to sell at a time and price beneficial to the fund.
|
| Portfolio Turnover Risk |
> Portfolio Turnover Risk: The fund’s principal
investment strategies may result in a high portfolio turnover rate. See the “Portfolio Turnover”
section above for more information about the impact that portfolio turnover can have on your investment.
|
| Real Estate Investment Risk |
> Real Estate Investment Risk: The fund may be negatively
affected by changes in real estate values or economic conditions, credit risk and interest rate fluctuations,
changes in the value of the underlying real estate and defaults by lessees and/or borrowers.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies.
|
| Value Stocks Risk |
> Value Stocks Risk: The fund may underperform
when value investing is out of favor or the fund’s investments may not appreciate in value as anticipated. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus NFJ International Value Fund
|
Risk Table - Virtus NFJ International Value Fund
|
Risk [Text Block] |
| Principal Risks |
Principal
Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first six risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Emerging Market Risk |
> Emerging Market Risk: Emerging markets securities
may be more volatile, or more greatly affected by negative conditions, than those of their counterparts
in more established foreign markets. Such securities may also be subject to Sanctions Risk.
|
| Investing in China Risk |
> Investing in China Risk: The government of China
maintains strict currency controls in order to achieve economic, trade and political objectives and regularly
intervenes in the currency market. The Chinese government also plays a major role in the country’s
economic policies regarding foreign investments. Foreign investors are subject to the risk of loss from
expropriation or nationalization of their investment assets and property, governmental restrictions on
foreign investments and the repatriation of capital invested. In addition, the rapid growth rate of the
Chinese economy over the past several years may not continue, and the trend toward economic liberalization
and disparities in wealth may result in social disorder, including violence and labor unrest. These and
other factors could have a negative impact on the fund’s performance and increase the volatility
of an investment in the fund. Certain securities issued by companies located or operating in China, such
as China A-shares, are also subject to trading restrictions, quota limitations and less market liquidity,
which could pose risks to the fund.
|
| Sanctions Risk |
> Sanctions
Risk: The imposition of sanctions and other similar measures could
cause a decline in the value and/or liquidity of securities issued by or tied to the sanctioned country
and increase market volatility and disruption in the sanctioned country and throughout the world. Sanctions
and other similar measures could limit or prevent the fund from buying and selling securities (in the
sanctioned country and other markets), significantly delay or prevent the settlement of transactions,
and negatively impact the fund’s liquidity and performance.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies.
|
| Counterparty Risk |
> Counterparty Risk: There is risk that a party
upon whom the fund relies to complete a transaction will default.
|
| Credit Risk |
> Credit Risk: If the issuer of a debt instrument fails to
pay interest or principal in a timely manner, or negative perceptions exist in the market of the issuer’s
ability to make such payments, the price of the security may decline.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary Receipts Risk:
Investments in foreign companies through depositary receipts may expose the fund to the same risks as
direct investments in securities of foreign issuers.
|
| Focused Investment Risk |
> Focused
Investment Risk: To the extent the fund focuses its investments on a limited
number of issuers, sectors, industries, geographic regions or portfolio themes, it may be subject to
increased risk and volatility.
|
| Liquidity Risk |
> Liquidity Risk: Certain
instruments may be difficult or impossible to sell at a time and price beneficial to the fund.
|
| Portfolio Turnover Risk |
> Portfolio Turnover Risk: The fund’s principal
investment strategies may result in a high portfolio turnover rate. See the “Portfolio Turnover”
section above for more information about the impact that portfolio turnover can have on your investment.
|
| Preferred Stocks Risk |
> Preferred Stocks Risk: Preferred stocks may decline
in price, fail to pay dividends when expected, or be illiquid.
|
| Real Estate Investment Risk |
> Real
Estate Investment Risk: The fund may be negatively affected by changes
in real estate values or economic conditions, credit risk and interest rate fluctuations, changes in
the value of the underlying real estate and defaults by lessees and/or borrowers.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Value Stocks Risk |
> Value Stocks Risk: The fund may underperform
when value investing is out of favor or the fund’s investments may not appreciate in value as anticipated. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus NFJ Large-Cap Value Fund
|
Risk Table - Virtus NFJ Large-Cap Value Fund
|
Risk [Text Block] |
| Principal Risks |
Principal Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first three risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Counterparty Risk |
> Counterparty
Risk: There is risk that a party upon whom the fund relies to complete a transaction
will default.
|
| Credit Risk |
> Credit Risk: If
the issuer of a debt instrument fails to pay interest or principal in a timely manner, or negative perceptions
exist in the market of the issuer’s ability to make such payments, the price of the security may
decline.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary
Receipts Risk: Investments in foreign companies through depositary receipts
may expose the fund to the same risks as direct investments in securities of foreign issuers.
|
| Derivatives Risk |
> Derivatives Risk: Derivatives and other similar
instruments (collectively referred to in this section as “derivatives”) may include, among
other things, futures, options, forwards, and swap agreements, and may be used in order to hedge portfolio
risks, create leverage or attempt to increase returns. Investments in derivatives may result in increased
volatility and the fund may incur a loss greater than its principal investment.
|
| Emerging Market Risk |
> Emerging Market Risk: Emerging markets securities
may be more volatile, or more greatly affected by negative conditions, than those of their counterparts
in more established foreign markets. Such securities may also be subject to Sanctions Risk.
|
| Sanctions Risk |
> Sanctions Risk: The imposition of sanctions and other similar
measures could cause a decline in the value and/or liquidity of securities issued by or tied to the sanctioned
country and increase market volatility and disruption in the sanctioned country and throughout the world.
Sanctions and other similar measures could limit or prevent the fund from buying and selling securities
(in the sanctioned country and other markets), significantly delay or prevent the settlement of transactions,
and negatively impact the fund’s liquidity and performance.
|
| Focused Investment Risk |
> Focused Investment Risk: To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries, geographic regions or portfolio
themes, it may be subject to increased risk and volatility.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Large Market Capitalization Companies Risk |
> Large Market Capitalization Companies Risk:
The value of investments in larger companies may not rise as much as smaller companies, or larger companies
may be unable to respond quickly to competitive challenges, such as changes in technology and consumer
tastes.
|
| Liquidity Risk |
> Liquidity Risk: Certain
instruments may be difficult or impossible to sell at a time and price beneficial to the fund.
|
| Portfolio Turnover Risk |
> Portfolio Turnover Risk: The fund’s principal
investment strategies may result in a high portfolio turnover rate. See the “Portfolio Turnover”
section above for more information about the impact that portfolio turnover can have on your investment.
|
| Preferred Stocks Risk |
> Preferred Stocks Risk: Preferred stocks may decline
in price, fail to pay dividends when expected, or be illiquid.
|
| Real Estate Investment Risk |
> Real Estate Investment Risk: The fund may be negatively
affected by changes in real estate values or economic conditions, credit risk and interest rate fluctuations,
changes in the value of the underlying real estate and defaults by lessees and/or borrowers.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Value Stocks Risk |
> Value Stocks Risk: The fund may underperform
when value investing is out of favor or the fund’s investments may not appreciate in value as anticipated. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus NFJ Mid-Cap Value Fund
|
Risk Table - Virtus NFJ Mid-Cap Value Fund
|
Risk [Text Block] |
| Principal Risks |
Principal
Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first four risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Counterparty Risk |
> Counterparty
Risk: There is risk that a party upon whom the fund relies to complete a transaction
will default.
|
| Credit Risk |
> Credit Risk: If
the issuer of a debt instrument fails to pay interest or principal in a timely manner, or negative perceptions
exist in the market of the issuer’s ability to make such payments, the price of the security may
decline.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary
Receipts Risk: Investments in foreign companies through depositary receipts
may expose the fund to the same risks as direct investments in securities of foreign issuers.
|
| Derivatives Risk |
> Derivatives Risk: Derivatives and other similar
instruments (collectively referred to in this section as “derivatives”) may include, among
other things, futures, options, forwards, and swap agreements, and may be used in order to hedge portfolio
risks, create leverage or attempt to increase returns. Investments in derivatives may result in increased
volatility and the fund may incur a loss greater than its principal investment.
|
| Emerging Market Risk |
> Emerging Market Risk: Emerging markets securities
may be more volatile, or more greatly affected by negative conditions, than those of their counterparts
in more established foreign markets. Such securities may also be subject to Sanctions Risk.
|
| Sanctions Risk |
> Sanctions Risk: The imposition of sanctions and other similar
measures could cause a decline in the value and/or liquidity of securities issued by or tied to the sanctioned
country and increase market volatility and disruption in the sanctioned country and throughout the world.
Sanctions and other similar measures could limit or prevent the fund from buying and selling securities
(in the sanctioned country and other markets), significantly delay or prevent the settlement of transactions,
and negatively impact the fund’s liquidity and performance.
|
| Focused Investment Risk |
> Focused Investment Risk: To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries, geographic regions or portfolio
themes, it may be subject to increased risk and volatility.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Liquidity Risk |
> Liquidity Risk: Certain instruments may be difficult or impossible
to sell at a time and price beneficial to the fund.
|
| Portfolio Turnover Risk |
> Portfolio
Turnover Risk: The fund’s principal investment strategies may result
in a high portfolio turnover rate. See the “Portfolio Turnover” section above for more information
about the impact that portfolio turnover can have on your investment.
|
| Preferred Stocks Risk |
> Preferred Stocks Risk: Preferred stocks may decline
in price, fail to pay dividends when expected, or be illiquid.
|
| Real Estate Investment Risk |
> Real
Estate Investment Risk: The fund may be negatively affected by changes
in real estate values or economic conditions, credit risk and interest rate fluctuations, changes in
the value of the underlying real estate and defaults by lessees and/or borrowers.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies.
|
| Value Stocks Risk |
> Value Stocks Risk: The fund may underperform
when value investing is out of favor or the fund’s investments may not appreciate in value as anticipated. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus NFJ Small-Cap Value Fund
|
Risk Table - Virtus NFJ Small-Cap Value Fund
|
Risk [Text Block] |
| Principal Risks |
Principal
Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first five risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Counterparty Risk |
> Counterparty
Risk: There is risk that a party upon whom the fund relies to complete a transaction
will default.
|
| Credit Risk |
> Credit Risk: If
the issuer of a debt instrument fails to pay interest or principal in a timely manner, or negative perceptions
exist in the market of the issuer’s ability to make such payments, the price of the security may
decline.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary
Receipts Risk: Investments in foreign companies through depositary receipts
may expose the fund to the same risks as direct investments in securities of foreign issuers.
|
| Derivatives Risk |
> Derivatives Risk: Derivatives and other similar
instruments (collectively referred to in this section as “derivatives”) may include, among
other things, futures, options, forwards, and swap agreements, and may be used in order to hedge portfolio
risks, create leverage or attempt to increase returns. Investments in derivatives may result in increased
volatility and the fund may incur a loss greater than its principal investment.
|
| Emerging Market Risk |
> Emerging Market Risk: Emerging markets securities
may be more volatile, or more greatly affected by negative conditions, than those of their counterparts
in more established foreign markets. Such securities may also be subject to Sanctions Risk.
|
| Sanctions Risk |
> Sanctions Risk: The imposition of sanctions and other similar
measures could cause a decline in the value and/or liquidity of securities issued by or tied to the sanctioned
country and increase market volatility and disruption in the sanctioned country and throughout the world.
Sanctions and other similar measures could limit or prevent the fund from buying and selling securities
(in the sanctioned country and other markets), significantly delay or prevent the settlement of transactions,
and negatively impact the fund’s liquidity and performance.
|
| Focused Investment Risk |
> Focused Investment Risk: To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries, geographic regions or portfolio
themes, it may be subject to increased risk and volatility.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Liquidity Risk |
> Liquidity Risk: Certain instruments may be difficult or impossible
to sell at a time and price beneficial to the fund.
|
| Portfolio Turnover Risk |
> Portfolio
Turnover Risk: The fund’s principal investment strategies may result
in a high portfolio turnover rate. See the “Portfolio Turnover” section above for more information
about the impact that portfolio turnover can have on your investment.
|
| Real Estate Investment Risk |
> Real Estate Investment Risk: The fund may be negatively
affected by changes in real estate values or economic conditions, credit risk and interest rate fluctuations,
changes in the value of the underlying real estate and defaults by lessees and/or borrowers.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies.
|
| Value Stocks Risk |
> Value Stocks Risk: The fund may underperform
when value investing is out of favor or the fund’s investments may not appreciate in value as anticipated. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus Silvant Focused Growth Fund
|
Risk Table - Virtus Silvant Focused Growth Fund
|
Risk [Text Block] |
| Principal Risks |
Principal Risks 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 principal risks of investing in the fund are identified below (in alphabetical
order after the first four risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market
Volatility Risk: The value of the securities in the fund may go up or down
in response to the prospects of individual companies and/or general economic conditions. Price changes
may be short- or long-term. Local, regional or global events such as war or military conflict (e.g.,
Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the spread of infectious illness
or other public health issue, recessions, tariffs and other restrictions on trade, or the threat or potential
of one or more such events and developments, could have a significant impact on the fund and its investments,
including hampering the ability of the fund’s portfolio manager(s) to invest the fund’s assets
as intended.
|
| Issuer Risk |
> Issuer Risk: The
fund will be affected by factors specific to the issuers of securities and other instruments in which
the fund invests, including actual or perceived changes in the financial condition or business prospects
of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk:
The value of the stocks held by the fund may be negatively affected by the financial
market, industries in which the fund invests, or issuer-specific events. Focus on a particular style
or in small or medium-sized companies may enhance that risk.
|
| Focused Investment Risk |
> Focused Investment Risk: To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries, geographic regions or portfolio
themes, it may be subject to increased risk and volatility.
|
| Currency Rate Risk |
> Currency
Rate Risk: 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 |
> Depositary Receipts Risk: Investments in foreign
companies through depositary receipts may expose the fund to the same risks as direct investments in
securities of foreign issuers.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Growth Stocks Risk |
> Growth Stocks Risk: The fund’s investments
in growth stocks may be more volatile than investments in other types of stocks, or may perform differently
from the market as a whole and from other types of stocks.
|
| IPO Risk |
> IPO Risk: Securities purchased in initial public offerings
have no trading history, limited issuer information and increased volatility.
|
| Liquidity Risk |
> Liquidity Risk: Certain instruments may be difficult or impossible
to sell at a time and price beneficial to the fund.
|
| Non-Diversification Risk |
> Non-Diversification
Risk: The fund is not diversified and may be more susceptible to
factors negatively impacting its holdings to the extent the fund invests more of its assets in the securities
of fewer issuers than would a diversified fund.
|
| Portfolio Turnover Risk |
> Portfolio
Turnover Risk: The fund’s principal investment strategies may result
in a high portfolio turnover rate. See the “Portfolio Turnover” section above for more information
about the impact that portfolio turnover can have on your investment.
|
| Preferred Stocks Risk |
> Preferred Stocks Risk: Preferred stocks may decline
in price, fail to pay dividends when expected, or be illiquid.
|
| Real Estate Investment Risk |
> Real
Estate Investment Risk: The fund may be negatively affected by changes
in real estate values or economic conditions, credit risk and interest rate fluctuations, changes in
the value of the underlying real estate and defaults by lessees and/or borrowers.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at
times when it would not otherwise do so, which may negatively
impact the fund’s net asset value and liquidity. In addition, a large redemption could result in
the fund’s current expenses being allocated over a smaller asset base, leading to an increase in
the fund’s expense ratio. Please see “More Information
About Risks of Investing in the Funds” in the fund’s prospectus for a more detailed description
of the fund’s risks.
|
|
| Virtus Silvant Mid-Cap Growth Fund
|
Risk Table - Virtus Silvant Mid-Cap Growth Fund
|
Risk [Text Block] |
| Principal Risks |
Principal Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first five risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Small and Medium Market Capitalization Companies Risk |
> Small
and Medium Market Capitalization Companies Risk: The fund’s investments
in small and medium market capitalization companies may increase the volatility and risk of loss to the
fund, as compared with investments in larger, more established companies.
|
| Focused Investment Risk |
> Focused Investment Risk: To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries, geographic regions or portfolio
themes, it may be subject to increased risk and volatility.
|
| Currency Rate Risk |
> Currency
Rate Risk: 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 |
> Depositary Receipts Risk: Investments in foreign
companies through depositary receipts may expose the fund to the same risks as direct investments in
securities of foreign issuers.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Growth Stocks Risk |
> Growth Stocks Risk: The fund’s investments
in growth stocks may be more volatile than investments in other types of stocks, or may perform differently
from the market as a whole and from other types of stocks.
|
| IPO Risk |
> IPO Risk: Securities purchased in initial public offerings
have no trading history, limited issuer information and increased volatility.
|
| Liquidity Risk |
> Liquidity Risk: Certain instruments may be difficult or impossible
to sell at a time and price beneficial to the fund.
|
| Portfolio Turnover Risk |
> Portfolio
Turnover Risk: The fund’s principal investment strategies may result
in a high portfolio turnover rate. See the “Portfolio Turnover” section above for more information
about the impact that portfolio turnover can have on your investment.
|
| Preferred Stocks Risk |
> Preferred Stocks Risk: Preferred stocks may decline
in price, fail to pay dividends when expected, or be illiquid.
|
| Real Estate Investment Risk |
> Real
Estate Investment Risk: The fund may be negatively affected by changes
in real estate values or economic conditions, credit risk and interest rate fluctuations, changes in
the value of the underlying real estate and defaults by lessees and/or borrowers.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus Small-Cap Fund
|
Risk Table - Virtus Small-Cap Fund
|
Risk [Text Block] |
| Principal Risks |
Principal
Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first six risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Counterparty Risk |
> Counterparty Risk: There is risk that a party
upon whom the fund relies to complete a transaction will default.
|
| Credit Risk |
> Credit Risk: If the issuer of a debt instrument fails to
pay interest or principal in a timely manner, or negative perceptions exist in the market of the issuer’s
ability to make such payments, the price of the security may decline.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary Receipts Risk: Investments in foreign
companies through depositary receipts may expose the fund to the same risks as direct investments in
securities of foreign issuers.
|
| Derivatives Risk |
> Derivatives
Risk: Derivatives and other similar instruments (collectively referred
to in this section as “derivatives”) may include, among other things, futures, options, forwards,
and swap agreements, and may be used in order to hedge portfolio risks, create leverage or attempt to
increase returns. Investments in derivatives may result in increased volatility and the fund may incur
a loss greater than its principal investment.
|
| Focused Investment Risk |
> Focused
Investment Risk: To the extent the fund focuses its investments on a limited
number of issuers, sectors, industries, geographic regions or portfolio themes, it may be subject to
increased risk and volatility.
|
| IPO Risk |
> IPO
Risk: Securities purchased in initial public offerings have no trading
history, limited issuer information and increased volatility.
|
| Leverage Risk |
> Leverage Risk: When the fund leverages its portfolio by borrowing
or by engaging in certain types of transactions or instruments, including derivatives, the fund may be
less liquid, may liquidate positions at an unfavorable time, and the volatility of the fund’s value
may increase.
|
| Liquidity Risk |
> Liquidity Risk: Certain
instruments may be difficult or impossible to sell at a time and price beneficial to the fund.
|
| Portfolio Turnover Risk |
> Portfolio Turnover Risk: The fund’s principal
investment strategies may result in a high portfolio turnover rate. See the “Portfolio Turnover”
section above for more information about the impact that portfolio turnover can have on your investment.
|
| Preferred Stocks Risk |
> Preferred Stocks Risk: Preferred stocks may decline
in price, fail to pay dividends when expected, or be illiquid.
|
| Real Estate Investment Risk |
> Real
Estate Investment Risk: The fund may be negatively affected by changes
in real estate values or economic conditions, credit risk and interest rate fluctuations, changes in
the value of the underlying real estate and defaults by lessees and/or borrowers.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|
| Virtus Zevenbergen Technology Fund
|
Risk Table - Virtus Zevenbergen Technology Fund
|
Risk [Text Block] |
| Principal Risks |
Principal Risks 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 principal risks of investing in the
fund are identified below (in alphabetical order after the first six risks).
|
| Risk Lose Money [Member] |
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.
|
| Market Volatility Risk |
> Market Volatility Risk: The value of the securities
in the fund may go up or down in response to the prospects of individual companies and/or general economic
conditions. Price changes may be short- or long-term. Local, regional or global events such as war or
military conflict (e.g., Russia’s invasion of Ukraine), geopolitical risk, acts of terrorism, the
spread of infectious illness or other public health issue, recessions, tariffs and other restrictions
on trade, or the threat or potential of one or more such events and developments, could have a significant
impact on the fund and its investments, including hampering the ability of the fund’s portfolio
manager(s) to invest the fund’s assets as intended.
|
| Issuer Risk |
> Issuer
Risk: The fund will be affected by factors specific to the issuers
of securities and other instruments in which the fund invests, including actual or perceived changes
in the financial condition or business prospects of such issuers.
|
| Equity Securities Risk |
> Equity Securities Risk: The
value of the stocks held by the fund may be negatively affected by the financial market, industries in
which the fund invests, or issuer-specific events. Focus on a particular style or in small or medium-sized
companies may enhance that risk.
|
| Focused Investment Risk (Technology-Related Risk) |
> Focused
Investment Risk (Technology-Related Risk): To the extent the fund focuses
its investments on a limited number of issuers, sectors, industries or geographic regions, it may be
subject to increased risk and volatility. Risks affecting companies in the technology sector include
competition from new and existing companies, limited operating histories and management experience, patent
and other intellectual property considerations and the commercial non-viability or rapid obsolescence
of equipment, products or services.
|
| Foreign Investing Risk |
> Foreign
Investing Risk: Investing in foreign securities subjects the fund to additional
risks such as increased volatility; currency fluctuations; less liquidity; less publicly available information
about the foreign investment; and political, regulatory, economic, and market risk.
|
| Currency Rate Risk |
> Currency Rate Risk: 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 |
> Depositary Receipts Risk:
Investments in foreign companies through depositary receipts may expose the fund to the same risks as
direct investments in securities of foreign issuers.
|
| IPO Risk |
> IPO
Risk: Securities purchased in initial public offerings have no trading
history, limited issuer information and increased volatility.
|
| Liquidity Risk |
> Liquidity
Risk: Certain instruments may be difficult or impossible to sell
at a time and price beneficial to the fund.
|
| Non-Diversification Risk |
> Non-Diversification
Risk: The fund is not diversified and may be more susceptible to
factors negatively impacting its holdings to the extent the fund invests more of its assets in the securities
of fewer issuers than would a diversified fund.
|
| Portfolio Turnover Risk |
> Portfolio
Turnover Risk: The fund’s principal investment strategies may result
in a high portfolio turnover rate. See the “Portfolio Turnover” section above for more information
about the impact that portfolio turnover can have on your investment.
|
| Redemption Risk |
> Redemption Risk: One or more large shareholders
or groups of shareholders may redeem their holdings in the fund, resulting in an adverse impact on remaining
shareholders in the fund by causing the fund to take actions it would not otherwise have taken. The effects
of taxable gains resulting from large redemptions of fund shares would particularly impact non-redeeming
shareholders who do not hold their fund shares in a tax-advantaged or tax-exempt vehicle. Such large
shareholder redemptions, which may occur rapidly or unexpectedly, may cause a fund to sell portfolio
securities at times when it would not otherwise do so, which may negatively impact the fund’s net
asset value and liquidity. In addition, a large redemption could result in the fund’s current expenses
being allocated over a smaller asset base, leading to an increase in the fund’s expense ratio.
|
| Small and Medium Market Capitalization Companies Risk |
> Small and Medium Market Capitalization Companies Risk:
The fund’s investments in small and medium market capitalization companies may increase the volatility
and risk of loss to the fund, as compared with investments in larger, more established companies. Please see “More Information About Risks of Investing in the Funds” in
the fund’s prospectus for a more detailed description of the fund’s risks.
|
|