Shareholder Report | 12 Months Ended |
Oct. 31, 2024 USD ($) Holding |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | Virtus Alternative Solutions Trust |
Entity Central Index Key | 0001589756 |
Entity Investment Company Type | N-1A |
Document Period End Date | Oct. 31, 2024 |
C000159801 [Member] | |
Shareholder Report [Line Items] | |
Fund Name | Virtus Duff & Phelps Select MLP and Energy Fund |
Class Name | Class A |
Trading Symbol | VLPAX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the Virtus Duff & Phelps Select MLP and Energy Fund (“Fund”) for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.virtus.com/investor-resources/mutual-fund-documents |
Additional Information Phone Number | 1‑800‑243‑1574 |
Additional Information Website | https://www.virtus.com/investor-resources/mutual-fund-documents |
Expenses [Text Block] | What were the Fund costs for the last year? (Based on a hypothetical $10,000 investment) Fund (Class) Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Virtus Duff & Phelps Select MLP and Energy Fund $ 1.40 % |
Expenses Paid, Amount | $ 168 |
Expense Ratio, Percent | 1.40% |
Factors Affecting Performance [Text Block] | What factors impacted Fund performance over the reporting period? No obvious investment themes drove Fund underperformance relative to the Alerian Midstream Energy Index over the 12-month period. As a sector fund, performance typically reflects individual security selection. The biggest absolute contributors to performance during the 12-month period were Targa Resources, Oneok, Williams Companies, TC Energy, and MPLX. The biggest absolute detractors from and smallest absolute contributors to performance during the period were New Fortress Energy, Sunoco, South Bow, DTE Energy, and Hess Midstream. The following table outlines key factors that materially affected the Fund’s performance during the reporting period. FACTOR IMPACT SUMMARY Falling interest rates Positive As inflation subsided during the second half of the fiscal year and the market gained confidence that central banks would cut interest rates, more defensive, higher-yielding sectors such as midstream energy and utilities outperformed. Artificial intelligence/Data centers Positive Power-hungry data center projects drove an uptick in electricity demand for the first time in decades, a tailwind for both natural gas midstream and utilities companies. China weakness Negative The weaker Chinese economy negatively impacted demand for crude oil and refined products, which affected related energy infrastructure stocks. Liquefied Natural Gas (LNG) Negative Construction and permitting delays slowed growth in gas demand, which weighed on natural gas prices and the stock prices of LNG-focused companies. The preceding information is the opinion of portfolio management only through the end of the period stated. Any such opinions are subject to change at any time based upon market or other conditions and should not be relied upon as investment advice. Performance figures assume reinvestment of distributions and exclude the effect of sales charges. Performance data quoted represents past results. Past performance is no guarantee of future results, and there is no guarantee that market forecasts will be realized. |
Performance Past Does Not Indicate Future [Text] | Past performance does not guarantee future results. |
Line Graph [Table Text Block] | How has the Fund historically performed? The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years of Class A shares from inception (September 9, 2015) including any applicable sales charges or fees. It assumes a $10,000 initial investment from inception, in an appropriate broad-based securities market index and style-specific index for the same period. Performance assumes reinvestment of dividends and capital gain distributions. GROWTH OF $10,000 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS for periods ended 10/31/24 1 Year 5 Years Since Inception Virtus Duff & Phelps Select MLP and Energy Fund (Class A/VLPAX) at NAV (1) 39.47 % 18.47 % 8.63 % Virtus Duff & Phelps Select MLP and Energy Fund (Class A/VLPAX) at POP (2),(3) 31.80 % 17.13 % 7.96 % FT Wilshire 5000 Index 37.86 % 14.84 % 14.09 % Alerian Midstream Energy Index 43.70 % 16.00 % - % (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. (2) “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. (3) “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. A CDSC may be imposed on certain redemptions of Class A shares made within 18 months of a finder’s fee being paid. |
Performance Inception Date | Sep. 09, 2015 |
No Deduction of Taxes [Text Block] | The above table and graph do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. |
Updated Performance Information Location [Text Block] | Please visit https://www.virtus.com/mutual-funds-monthly-performance for performance data current to the most recent month end. |
Net Assets | $ 42,664,000 |
Holdings Count | Holding | 27 |
Advisory Fees Paid, Amount | $ 199,000 |
Investment Company Portfolio Turnover | 46% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Fund net assets (‘000s) $ % Total number of portfolio holdings $ % Total advisory fee paid (‘000s) $ % Portfolio turnover rate as of the end of the reporting period $ % |
Holdings [Text Block] | Asset Allocation (1) Common Stocks & MLP Interests 99 % Diversified 39 % Natural Gas Pipelines 14 % Liquefied Natural Gas 11 % Petroleum Transportation & Storage 11 % Electric, LDC & Power 9 % Gathering/Processing 9 % Downstream/Other 6 % Short-Term Investment 1 % Total 100% (1) Percentage of total investments as of October 31, 2024. |
C000159802 [Member] | |
Shareholder Report [Line Items] | |
Fund Name | Virtus Duff & Phelps Select MLP and Energy Fund |
Class Name | Class C |
Trading Symbol | VLPCX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the Virtus Duff & Phelps Select MLP and Energy Fund (“Fund”) for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.virtus.com/investor-resources/mutual-fund-documents |
Additional Information Phone Number | 1‑800‑243‑1574 |
Additional Information Website | https://www.virtus.com/investor-resources/mutual-fund-documents |
Expenses [Text Block] | What were the Fund costs for the last year? (Based on a hypothetical $10,000 investment) Fund (Class) Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Virtus Duff & Phelps Select MLP and Energy Fund $ 2.15 % |
Expenses Paid, Amount | $ 256 |
Expense Ratio, Percent | 2.15% |
Factors Affecting Performance [Text Block] | What factors impacted Fund performance over the reporting period? No obvious investment themes drove Fund underperformance relative to the Alerian Midstream Energy Index over the 12-month period. As a sector fund, performance typically reflects individual security selection. The biggest absolute contributors to performance during the 12-month period were Targa Resources, Oneok, Williams Companies, TC Energy, and MPLX. The biggest absolute detractors from and smallest absolute contributors to performance during the period were New Fortress Energy, Sunoco, South Bow, DTE Energy, and Hess Midstream. The following table outlines key factors that materially affected the Fund’s performance during the reporting period. FACTOR IMPACT SUMMARY Falling interest rates Positive As inflation subsided during the second half of the fiscal year and the market gained confidence that central banks would cut interest rates, more defensive, higher-yielding sectors such as midstream energy and utilities outperformed. Artificial intelligence/Data centers Positive Power-hungry data center projects drove an uptick in electricity demand for the first time in decades, a tailwind for both natural gas midstream and utilities companies. China weakness Negative The weaker Chinese economy negatively impacted demand for crude oil and refined products, which affected related energy infrastructure stocks. Liquefied Natural Gas (LNG) Negative Construction and permitting delays slowed growth in gas demand, which weighed on natural gas prices and the stock prices of LNG-focused companies. The preceding information is the opinion of portfolio management only through the end of the period stated. Any such opinions are subject to change at any time based upon market or other conditions and should not be relied upon as investment advice. Performance figures assume reinvestment of distributions and exclude the effect of sales charges. Performance data quoted represents past results. Past performance is no guarantee of future results, and there is no guarantee that market forecasts will be realized. |
Performance Past Does Not Indicate Future [Text] | Past performance does not guarantee future results. |
Line Graph [Table Text Block] | How has the Fund historically performed? The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years of Class C shares from inception (September 9, 2015). It assumes a $10,000 initial investment from inception, in an appropriate broad-based securities market index and style-specific index for the same period. Performance assumes reinvestment of dividends and capital gain distributions. GROWTH OF $10,000 (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. (2) “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of time of purchase. CDSC for all Class C shares are 1% within the first year and 0% thereafter. |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS for periods ended 10/31/24 1 Year 5 Years Since Inception Virtus Duff & Phelps Select MLP and Energy Fund (Class C/VLPCX) at NAV (1) (2) 38.47 % 17.58 % 7.81 % FT Wilshire 5000 Index 37.86 % 14.84 % 14.09 % Alerian Midstream Energy Index 43.70 % 16.00 % - % (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. (2) “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of time of purchase. CDSC for all Class C shares are 1% within the first year and 0% thereafter. |
Performance Inception Date | Sep. 09, 2015 |
No Deduction of Taxes [Text Block] | The above table and graph do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. |
Updated Performance Information Location [Text Block] | Please visit https://www.virtus.com/mutual-funds-monthly-performance for performance data current to the most recent month end. |
Net Assets | $ 42,664,000 |
Holdings Count | Holding | 27 |
Advisory Fees Paid, Amount | $ 199,000 |
Investment Company Portfolio Turnover | 46% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Fund net assets (‘000s) $ % Total number of portfolio holdings $ % Total advisory fee paid (‘000s) $ % Portfolio turnover rate as of the end of the reporting period $ % |
Holdings [Text Block] | Asset Allocation (1) Common Stocks & MLP Interests 99 % Diversified 39 % Natural Gas Pipelines 14 % Liquefied Natural Gas 11 % Petroleum Transportation & Storage 11 % Electric, LDC & Power 9 % Gathering/Processing 9 % Downstream/Other 6 % Short-Term Investment 1 % Total 100% (1) Percentage of total investments as of October 31, 2024. |
C000159803 [Member] | |
Shareholder Report [Line Items] | |
Fund Name | Virtus Duff & Phelps Select MLP and Energy Fund |
Class Name | Class I |
Trading Symbol | VLPIX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the Virtus Duff & Phelps Select MLP and Energy Fund (“Fund”) for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.virtus.com/investor-resources/mutual-fund-documents |
Additional Information Phone Number | 1‑800‑243‑1574 |
Additional Information Website | https://www.virtus.com/investor-resources/mutual-fund-documents |
Expenses [Text Block] | What were the Fund costs for the last year? (Based on a hypothetical $10,000 investment) Fund (Class) Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Virtus Duff & Phelps Select MLP and Energy Fund $ 1.15 % |
Expenses Paid, Amount | $ 138 |
Expense Ratio, Percent | 1.15% |
Factors Affecting Performance [Text Block] | What factors impacted Fund performance over the reporting period? No obvious investment themes drove Fund underperformance relative to the Alerian Midstream Energy Index over the 12-month period. As a sector fund, performance typically reflects individual security selection. The biggest absolute contributors to performance during the 12-month period were Targa Resources, Oneok, Williams Companies, TC Energy, and MPLX. The biggest absolute detractors from and smallest absolute contributors to performance during the period were New Fortress Energy, Sunoco, South Bow, DTE Energy, and Hess Midstream. The following table outlines key factors that materially affected the Fund’s performance during the reporting period. FACTOR IMPACT SUMMARY Falling interest rates Positive As inflation subsided during the second half of the fiscal year and the market gained confidence that central banks would cut interest rates, more defensive, higher-yielding sectors such as midstream energy and utilities outperformed. Artificial intelligence/Data centers Positive Power-hungry data center projects drove an uptick in electricity demand for the first time in decades, a tailwind for both natural gas midstream and utilities companies. China weakness Negative The weaker Chinese economy negatively impacted demand for crude oil and refined products, which affected related energy infrastructure stocks. Liquefied Natural Gas (LNG) Negative Construction and permitting delays slowed growth in gas demand, which weighed on natural gas prices and the stock prices of LNG-focused companies. The preceding information is the opinion of portfolio management only through the end of the period stated. Any such opinions are subject to change at any time based upon market or other conditions and should not be relied upon as investment advice. Performance figures assume reinvestment of distributions and exclude the effect of sales charges. Performance data quoted represents past results. Past performance is no guarantee of future results, and there is no guarantee that market forecasts will be realized. |
Performance Past Does Not Indicate Future [Text] | Past performance does not guarantee future results. |
Line Graph [Table Text Block] | How has the Fund historically performed? The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years of Class I shares from inception (September 9, 2015). It assumes a $100,000 initial investment from inception, in an appropriate broad-based securities market index and style-specific index for the same period. Performance assumes reinvestment of dividends and capital gain distributions. GROWTH OF $100,000 (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS for periods ended 10/31/24 1 Year 5 Years Since Inception Virtus Duff & Phelps Select MLP and Energy Fund (Class I/VLPIX) at NAV (1) 39.79 % 18.75 % 8.89 % FT Wilshire 5000 Index 37.86 % 14.84 % 14.09 % Alerian Midstream Energy Index 43.70 % 16.00 % - % (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
Performance Inception Date | Sep. 09, 2015 |
No Deduction of Taxes [Text Block] | The above table and graph do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. |
Updated Performance Information Location [Text Block] | Please visit https://www.virtus.com/mutual-funds-monthly-performance for performance data current to the most recent month end. |
Net Assets | $ 42,664,000 |
Holdings Count | Holding | 27 |
Advisory Fees Paid, Amount | $ 199,000 |
Investment Company Portfolio Turnover | 46% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Fund net assets (‘000s) $ % Total number of portfolio holdings $ % Total advisory fee paid (‘000s) $ % Portfolio turnover rate as of the end of the reporting period $ % |
Holdings [Text Block] | Asset Allocation (1) Common Stocks & MLP Interests 99 % Diversified 39 % Natural Gas Pipelines 14 % Liquefied Natural Gas 11 % Petroleum Transportation & Storage 11 % Electric, LDC & Power 9 % Gathering/Processing 9 % Downstream/Other 6 % Short-Term Investment 1 % Total 100% (1) Percentage of total investments as of October 31, 2024. |
C000206132 [Member] | |
Shareholder Report [Line Items] | |
Fund Name | Virtus KAR Long/Short Equity Fund |
Class Name | Class A |
Trading Symbol | VLSAX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the Virtus KAR Long/Short Equity Fund (“Fund”) for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.virtus.com/investor-resources/mutual-fund-documents |
Additional Information Phone Number | 1‑800‑243‑1574 |
Additional Information Website | https://www.virtus.com/investor-resources/mutual-fund-documents |
Expenses [Text Block] | What were the Fund costs for the last year? (Based on a hypothetical $10,000 investment) Fund (Class) Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Virtus KAR Long/Short Equity Fund $ 2.30 % |
Expenses Paid, Amount | $ 251 |
Expense Ratio, Percent | 2.30% |
Factors Affecting Performance [Text Block] | What factors impacted Fund performance over the reporting period? The Fund utilizes an actively managed, bottom-up fundamental research approach. The Fund’s long portfolio seeks to identify a select group of companies believed by the Fund’s portfolio managers to possess a durable competitive advantage, strong fundamentals, and reasonable valuations. The Fund’s short portfolio seeks to sell short businesses that the Fund’s portfolio managers believe exhibit a lack of a durable competitive advantage, mediocre financial performance, and high financial risk. As such, the performance of the Fund is expected to be primarily determined by market reactions, both positive and negative, to activity related to these companies. Stock selection and underweight positions in consumer staples and information technology detracted from performance relative to the Fund’s style-specific benchmark for the fiscal year. Stock selection in industrials and communication services contributed positively to performance. The biggest contributors to performance for the 12-month period were long positions in TransUnion, The Trade Desk, Primerica, Lennox International, and Ryan Specialty. The biggest detractors from performance during the period were short positions in a residential real estate brokerage, a western wear retailer, and an insurance company, a long position in Celsius, and a short position in a tax preparation company. The following table outlines key factors that materially affected the Fund’s performance during the reporting period. FACTOR IMPACT SUMMARY TransUnion Positive The Fund’s long position in TransUnion, a consumer credit reporting company, benefited from strength in U.S. financial services and continued momentum across international markets. The company’s shares also benefited as the Federal Reserve (the Fed) lowered interest rates. Trade Desk Positive The Fund was long Trade Desk, a marketing automation technology company, which reported strength in connected TV, retail media, and its expanding international business. Residential real estate brokerage Negative The company’s shares appreciated, which negatively affected the Fund’s short position, after the company reported growth in revenues and agent headcount despite continued weakness in existing home sales. Western wear retailer Negative The company’s shares appreciated meaningfully throughout the entire fiscal year, which had a negative impact on the Fund’s short position. The preceding information is the opinion of portfolio management only through the end of the period stated. Any such opinions are subject to change at any time based upon market or other conditions and should not be relied upon as investment advice. Performance figures assume reinvestment of distributions and exclude the effect of sales charges. Performance data quoted represents past results. Past performance is no guarantee of future results, and there is no guarantee that market forecasts will be realized. |
Performance Past Does Not Indicate Future [Text] | Past performance does not guarantee future results. |
Line Graph [Table Text Block] | How has the Fund historically performed? The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years of Class A shares from inception (December 6, 2018) including any applicable sales charges or fees. It assumes a $10,000 initial investment from inception, in an appropriate broad-based securities market index and style-specific index for the same period. Performance assumes reinvestment of dividends and capital gain distributions. GROWTH OF $10,000 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS for periods ended 10/31/24 1 Year 5 Years Since Inception Virtus KAR Long/Short Equity Fund (Class A /VLSAX) at NAV (1) 18.58 % 9.27 % 12.23 % Virtus KAR Long/Short Equity Fund (Class A /VLSAX) at POP (2),(3) 12.06 % 8.04 % 11.16 % FT Wilshire 5000 Index 37.86 % 14.84 % 14.94 % Russell 3000 ® 37.86 % 14.60 % 14.74 % (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. (2) “POP” (Public Offering Price) total returns include the effect of the maximum front-end 5.50% sales charge. (3) “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of purchase. A CDSC may be imposed on certain redemptions of Class A shares made within 18 months of a finder’s fee being paid. |
Performance Inception Date | Dec. 06, 2018 |
No Deduction of Taxes [Text Block] | The above table and graph do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. |
Updated Performance Information Location [Text Block] | Please visit https://www.virtus.com/mutual-funds-monthly-performance for performance data current to the most recent month end. |
Net Assets | $ 62,055,000 |
Holdings Count | Holding | 38 |
Advisory Fees Paid, Amount | $ 738,000 |
Investment Company Portfolio Turnover | 31% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Fund net assets (‘000s) $ % Total number of portfolio holdings $ % Total advisory fee paid (‘000s) $ % Portfolio turnover rate as of the end of the reporting period $ % |
Holdings [Text Block] | Asset Allocation (1) Common Stocks 123 % ) Financials 36 % ) Information Technology 28 % ) Industrials 21 % ) Communication Services 13 % ) Consumer Discretionary 11 % ) Health Care 8 % ) Consumer Staples 6 % ) Securities Sold Short (23 ) % Consumer Discretionary (7 ) % Industrials (7 ) % Financials (4 ) % Real Estate (3 ) % Information Technology (2 ) % Total 100 % ) (1 ) Percentage of total investments as of October 31, 2024. |
C000206133 [Member] | |
Shareholder Report [Line Items] | |
Fund Name | Virtus KAR Long/Short Equity Fund |
Class Name | Class C |
Trading Symbol | VLSCX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the Virtus KAR Long/Short Equity Fund (“Fund”) for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.virtus.com/investor-resources/mutual-fund-documents |
Additional Information Phone Number | 1‑800‑243‑1574 |
Additional Information Website | https://www.virtus.com/investor-resources/mutual-fund-documents |
Expenses [Text Block] | What were the Fund costs for the last year? (Based on a hypothetical $10,000 investment) Fund (Class) Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Virtus KAR Long/Short Equity Fund $ 3.04 % |
Expenses Paid, Amount | $ 331 |
Expense Ratio, Percent | 3.04% |
Factors Affecting Performance [Text Block] | What factors impacted Fund performance over the reporting period? The Fund utilizes an actively managed, bottom-up fundamental research approach. The Fund’s long portfolio seeks to identify a select group of companies believed by the Fund’s portfolio managers to possess a durable competitive advantage, strong fundamentals, and reasonable valuations. The Fund’s short portfolio seeks to sell short businesses that the Fund’s portfolio managers believe exhibit a lack of a durable competitive advantage, mediocre financial performance, and high financial risk. As such, the performance of the Fund is expected to be primarily determined by market reactions, both positive and negative, to activity related to these companies. Stock selection and underweight positions in consumer staples and information technology detracted from performance relative to the Fund’s style-specific benchmark for the fiscal year. Stock selection in industrials and communication services contributed positively to performance. The biggest contributors to performance for the 12-month period were long positions in TransUnion, The Trade Desk, Primerica, Lennox International, and Ryan Specialty. The biggest detractors from performance during the period were short positions in a residential real estate brokerage, a western wear retailer, and an insurance company, a long position in Celsius, and a short position in a tax preparation company. The following table outlines key factors that materially affected the Fund’s performance during the reporting period. FACTOR IMPACT SUMMARY TransUnion Positive The Fund’s long position in TransUnion, a consumer credit reporting company, benefited from strength in U.S. financial services and continued momentum across international markets. The company’s shares also benefited as the Federal Reserve (the Fed) lowered interest rates. Trade Desk Positive The Fund was long Trade Desk, a marketing automation technology company, which reported strength in connected TV, retail media, and its expanding international business. Residential real estate brokerage Negative The company’s shares appreciated, which negatively affected the Fund’s short position, after the company reported growth in revenues and agent headcount despite continued weakness in existing home sales. Western wear retailer Negative The company’s shares appreciated meaningfully throughout the entire fiscal year, which had a negative impact on the Fund’s short position. The preceding information is the opinion of portfolio management only through the end of the period stated. Any such opinions are subject to change at any time based upon market or other conditions and should not be relied upon as investment advice. Performance figures assume reinvestment of distributions and exclude the effect of sales charges. Performance data quoted represents past results. Past performance is no guarantee of future results, and there is no guarantee that market forecasts will be realized. |
Performance Past Does Not Indicate Future [Text] | Past performance does not guarantee future results. |
Line Graph [Table Text Block] | How has the Fund historically performed? The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years of Class C shares from inception (December 6, 2018). It assumes a $10,000 initial investment from inception, in an appropriate broad-based securities market index and style-specific index for the same period. Performance assumes reinvestment of dividends and capital gain distributions. GROWTH OF $10,000 (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. (2) “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of time of purchase. CDSC for all Class C shares are 1% within the first year and 0% thereafter. |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS for periods ended 10/31/24 1 Year 5 Years Since Inception Virtus KAR Long/Short Equity Fund (Class C/VLSCX) at NAV (1) (2) 17.70 % 8.46 % 11.41 % FT Wilshire 5000 Index 37.86 % 14.84 % 14.94 % Russell 3000 ® 37.86 % 14.60 % 14.74 % (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. (2) “CDSC” (contingent deferred sales charge) is applied to redemptions of certain classes of shares that do not have a sales charge applied at the time of time of purchase. CDSC for all Class C shares are 1% within the first year and 0% thereafter. |
Performance Inception Date | Dec. 06, 2018 |
No Deduction of Taxes [Text Block] | The above table and graph do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. |
Updated Performance Information Location [Text Block] | Please visit https://www.virtus.com/mutual-funds-monthly-performance for performance data current to the most recent month end. |
Net Assets | $ 62,055,000 |
Holdings Count | Holding | 38 |
Advisory Fees Paid, Amount | $ 738,000 |
Investment Company Portfolio Turnover | 31% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Fund net assets (‘000s) $ % Total number of portfolio holdings $ % Total advisory fee paid (‘000s) $ % Portfolio turnover rate as of the end of the reporting period $ % |
Holdings [Text Block] | Asset Allocation (1) Common Stocks 123 % ) Financials 36 % ) Information Technology 28 % ) Industrials 21 % ) Communication Services 13 % ) Consumer Discretionary 11 % ) Health Care 8 % ) Consumer Staples 6 % ) Securities Sold Short (23 ) % Consumer Discretionary (7 ) % Industrials (7 ) % Financials (4 ) % Real Estate (3 ) % Information Technology (2 ) % Total 100 % ) (1 ) Percentage of total investments as of October 31, 2024. |
C000206134 [Member] | |
Shareholder Report [Line Items] | |
Fund Name | Virtus KAR Long/Short Equity Fund |
Class Name | Class I |
Trading Symbol | VLSIX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the Virtus KAR Long/Short Equity Fund (“Fund”) for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.virtus.com/investor-resources/mutual-fund-documents |
Additional Information Phone Number | 1‑800‑243‑1574 |
Additional Information Website | https://www.virtus.com/investor-resources/mutual-fund-documents |
Expenses [Text Block] | What were the Fund costs for the last year? (Based on a hypothetical $10,000 investment) Fund (Class) Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Virtus KAR Long/Short Equity Fund $ 2.04 % |
Expenses Paid, Amount | $ 223 |
Expense Ratio, Percent | 2.04% |
Factors Affecting Performance [Text Block] | What factors impacted Fund performance over the reporting period? The Fund utilizes an actively managed, bottom-up fundamental research approach. The Fund’s long portfolio seeks to identify a select group of companies believed by the Fund’s portfolio managers to possess a durable competitive advantage, strong fundamentals, and reasonable valuations. The Fund’s short portfolio seeks to sell short businesses that the Fund’s portfolio managers believe exhibit a lack of a durable competitive advantage, mediocre financial performance, and high financial risk. As such, the performance of the Fund is expected to be primarily determined by market reactions, both positive and negative, to activity related to these companies. Stock selection and underweight positions in consumer staples and information technology detracted from performance relative to the Fund’s style-specific benchmark for the fiscal year. Stock selection in industrials and communication services contributed positively to performance. The biggest contributors to performance for the 12-month period were long positions in TransUnion, The Trade Desk, Primerica, Lennox International, and Ryan Specialty. The biggest detractors from performance during the period were short positions in a residential real estate brokerage, a western wear retailer, and an insurance company, a long position in Celsius, and a short position in a tax preparation company. The following table outlines key factors that materially affected the Fund’s performance during the reporting period. FACTOR IMPACT SUMMARY TransUnion Positive The Fund’s long position in TransUnion, a consumer credit reporting company, benefited from strength in U.S. financial services and continued momentum across international markets. The company’s shares also benefited as the Federal Reserve (the Fed) lowered interest rates. Trade Desk Positive The Fund was long Trade Desk, a marketing automation technology company, which reported strength in connected TV, retail media, and its expanding international business. Residential real estate brokerage Negative The company’s shares appreciated, which negatively affected the Fund’s short position, after the company reported growth in revenues and agent headcount despite continued weakness in existing home sales. Western wear retailer Negative The company’s shares appreciated meaningfully throughout the entire fiscal year, which had a negative impact on the Fund’s short position. The preceding information is the opinion of portfolio management only through the end of the period stated. Any such opinions are subject to change at any time based upon market or other conditions and should not be relied upon as investment advice. Performance figures assume reinvestment of distributions and exclude the effect of sales charges. Performance data quoted represents past results. Past performance is no guarantee of future results, and there is no guarantee that market forecasts will be realized. |
Performance Past Does Not Indicate Future [Text] | Past performance does not guarantee future results. |
Line Graph [Table Text Block] | How has the Fund historically performed? The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years of Class I shares from inception (December 6, 2018). It assumes a $100,000 initial investment from inception, in an appropriate broad-based securities market index and style-specific index for the same period. Performance assumes reinvestment of dividends and capital gain distributions. GROWTH OF $100,000 (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS for periods ended 10/31/24 1 Year 5 Years Since Inception Virtus KAR Long/Short Equity Fund (Class I/VLSIX) at NAV (1) 18.84 % 9.55 % 12.51 % FT Wilshire 5000 Index 37.86 % 14.84 % 14.94 % Russell 3000 ® 37.86 % 14.60 % 14.74 % (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
Performance Inception Date | Dec. 06, 2018 |
No Deduction of Taxes [Text Block] | The above table and graph do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. |
Updated Performance Information Location [Text Block] | Please visit https://www.virtus.com/mutual-funds-monthly-performance for performance data current to the most recent month end. |
Net Assets | $ 62,055,000 |
Holdings Count | Holding | 38 |
Advisory Fees Paid, Amount | $ 738,000 |
Investment Company Portfolio Turnover | 31% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Fund net assets (‘000s) $ % Total number of portfolio holdings $ % Total advisory fee paid (‘000s) $ % Portfolio turnover rate as of the end of the reporting period $ % |
Holdings [Text Block] | Asset Allocation (1) Common Stocks 123 % ) Financials 36 % ) Information Technology 28 % ) Industrials 21 % ) Communication Services 13 % ) Consumer Discretionary 11 % ) Health Care 8 % ) Consumer Staples 6 % ) Securities Sold Short (23 ) % Consumer Discretionary (7 ) % Industrials (7 ) % Financials (4 ) % Real Estate (3 ) % Information Technology (2 ) % Total 100 % ) (1 ) Percentage of total investments as of October 31, 2024. |
C000206130 [Member] | |
Shareholder Report [Line Items] | |
Fund Name | Virtus KAR Long/Short Equity Fund |
Class Name | Class R6 |
Trading Symbol | VLSRX |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about the Virtus KAR Long/Short Equity Fund (“Fund”) for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.virtus.com/investor-resources/mutual-fund-documents |
Additional Information Phone Number | 1‑800‑243‑1574 |
Additional Information Website | https://www.virtus.com/investor-resources/mutual-fund-documents |
Expenses [Text Block] | What were the Fund costs for the last year? (Based on a hypothetical $10,000 investment) Fund (Class) Costs of a $10,000 investment Costs paid as a percentage of a $10,000 investment Virtus KAR Long/Short Equity Fund $ 1.97 % |
Expenses Paid, Amount | $ 216 |
Expense Ratio, Percent | 1.97% |
Factors Affecting Performance [Text Block] | What factors impacted Fund performance over the reporting period? The Fund utilizes an actively managed, bottom-up fundamental research approach. The Fund’s long portfolio seeks to identify a select group of companies believed by the Fund’s portfolio managers to possess a durable competitive advantage, strong fundamentals, and reasonable valuations. The Fund’s short portfolio seeks to sell short businesses that the Fund’s portfolio managers believe exhibit a lack of a durable competitive advantage, mediocre financial performance, and high financial risk. As such, the performance of the Fund is expected to be primarily determined by market reactions, both positive and negative, to activity related to these companies. Stock selection and underweight positions in consumer staples and information technology detracted from performance relative to the Fund’s style-specific benchmark for the fiscal year. Stock selection in industrials and communication services contributed positively to performance. The biggest contributors to performance for the 12-month period were long positions in TransUnion, The Trade Desk, Primerica, Lennox International, and Ryan Specialty. The biggest detractors from performance during the period were short positions in a residential real estate brokerage, a western wear retailer, and an insurance company, a long position in Celsius, and a short position in a tax preparation company. The following table outlines key factors that materially affected the Fund’s performance during the reporting period. FACTOR IMPACT SUMMARY TransUnion Positive The Fund’s long position in TransUnion, a consumer credit reporting company, benefited from strength in U.S. financial services and continued momentum across international markets. The company’s shares also benefited as the Federal Reserve (the Fed) lowered interest rates. Trade Desk Positive The Fund was long Trade Desk, a marketing automation technology company, which reported strength in connected TV, retail media, and its expanding international business. Residential real estate brokerage Negative The company’s shares appreciated, which negatively affected the Fund’s short position, after the company reported growth in revenues and agent headcount despite continued weakness in existing home sales. Western wear retailer Negative The company’s shares appreciated meaningfully throughout the entire fiscal year, which had a negative impact on the Fund’s short position. The preceding information is the opinion of portfolio management only through the end of the period stated. Any such opinions are subject to change at any time based upon market or other conditions and should not be relied upon as investment advice. Performance figures assume reinvestment of distributions and exclude the effect of sales charges. Performance data quoted represents past results. Past performance is no guarantee of future results, and there is no guarantee that market forecasts will be realized. |
Performance Past Does Not Indicate Future [Text] | Past performance does not guarantee future results. |
Line Graph [Table Text Block] | How has the Fund historically performed? The following graph compares the initial and subsequent account values at the end of each of the most recently completed fiscal years of Class R6 shares from inception (December 6, 2018). It assumes a $2,500,000 initial investment from inception, in an appropriate broad-based securities market index and style-specific index for the same period. Performance assumes reinvestment of dividends and capital gain distributions. GROWTH OF $2,500,000 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS for periods ended 10/31/24 1 Year 5 Years Since Inception Virtus KAR Long/Short Equity Fund (Class R6/VLSRX) at NAV (1) 18.97 % 9.62 % 12.59 % FT Wilshire 5000 Index 37.86 % 14.84 % 14.94 % Russell 3000 ® 37.86 % 14.60 % 14.74 % (1) “NAV” (Net Asset Value) total returns do not include the effect of any sales charge. |
Performance Inception Date | Dec. 06, 2018 |
No Deduction of Taxes [Text Block] | The above table and graph do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of shares. |
Updated Performance Information Location [Text Block] | Please visit https://www.virtus.com/mutual-funds-monthly-performance for performance data current to the most recent month end. |
Net Assets | $ 62,055,000 |
Holdings Count | Holding | 38 |
Advisory Fees Paid, Amount | $ 738,000 |
Investment Company Portfolio Turnover | 31% |
Additional Fund Statistics [Text Block] | KEY FUND STATISTICS (as of October 31, 2024) Fund net assets (‘000s) $ % Total number of portfolio holdings $ % Total advisory fee paid (‘000s) $ % Portfolio turnover rate as of the end of the reporting period $ % |
Holdings [Text Block] | Asset Allocation (1) Common Stocks 123 % ) Financials 36 % ) Information Technology 28 % ) Industrials 21 % ) Communication Services 13 % ) Consumer Discretionary 11 % ) Health Care 8 % ) Consumer Staples 6 % ) Securities Sold Short (23 ) % Consumer Discretionary (7 ) % Industrials (7 ) % Financials (4 ) % Real Estate (3 ) % Information Technology (2 ) % Total 100 % ) (1 ) Percentage of total investments as of October 31, 2024. |