The bar chart and table below provide some indication of the potential risks of investing in the fund. The fund’s past performance, before and after taxes, is not necessarily an indication of how the fund will perform in the future. The fund has adopted the past performance of the Predecessor Fund as its own. Therefore, the performance tables below include the performance of the shares of the Predecessor Fund prior to the fund’s commencement date. The Predecessor Fund and the fund have identical investment objectives and substantially identical investment strategies.

The bar chart shows changes in the fund’s performance from year to year over a 10-year period. The table shows how the fund’s average annual returns compare to those of a broad-based securities market index and the Barclay Fund of Funds Index. Updated performance information is available at virtus.com or by calling 800-243-1574.

Performance Information Illustrates Variability of Returns [Text]

The bar chart and table below provide some indication of the potential risks of investing in the fund.

Bar Chart [Heading]

Calendar year total returns for Class I Shares (previously the Predecessor Fund’s Class Y Shares)

Performance Table Heading

Average Annual Total Returns (for the periods ended 12/31/25; includes returns of the Predecessor Fund)

Performance Table Not Relevant to Tax Deferred

Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold fund shares in tax-deferred accounts or to shares held by non-taxable entities.

Performance Table One Class of after Tax Shown [Text]

After-tax returns are shown only for Class I Shares; after-tax returns for other classes will vary.

Performance Table Closing [Text Block]

The FT Wilshire 5000 Index is a broad-based free-float market capitalization-weighted index that aims to capture 100% of the U.S. investable market capitalization. The index is calculated on a total return basis with dividends reinvested. The index is unmanaged and not available for direct investment.

The Barclay Fund of Funds Index is a measure of the average return of all funds of funds in the Barclay database. The index is the arithmetic average of the net returns of all the fund of funds that have reported that month. Index returns are recalculated by Barclay Hedge, Ltd. throughout each month. The fund does not expect to update the index returns provided if subsequent recalculations cause such returns to change. In addition, because of these recalculations, the Barclay

Fund of Funds Index returns reported by the fund may differ from the index returns for the same period published by others. The performance of the Index reflects the managed fees and other expenses of both the funds of funds in the Index and the hedge funds in which these funds of funds invest, but does not reflect the deduction of fees, expenses or taxes at the Index level. The index is calculated on a total return basis with dividends reinvested. The index is unmanaged and not available for direct investment.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. After-tax returns are shown only for Class I Shares; after-tax returns for other classes will vary. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold fund shares in tax-deferred accounts or to shares held by non-taxable entities.

Performance Availability Phone [Text]

800-243-1574

Prospectus [Line Items]

Bar Chart, Year to Date Return

1.74%

Highest Quarterly Return, Label [Optional Text]

Best Quarter

Highest Quarterly Return, Date

Mar. 31, 2024

Lowest Quarterly Return

(9.51%)

Bar Chart and Performance Table [Heading]

Performance Information

Performance Past Does Not Indicate Future [Text]

The fund’s past performance, before and after taxes, is not necessarily an indication of how the fund will perform in the future.

Performance Additional Market Index [Text]

The Credit Suisse Managed Futures Liquid Index seeks to gain broad exposure to the Managed Futures strategy using a pre-defined quantitative methodology to invest in a range of asset classes, including equities, fixed income, commodities and currencies. The SG Trend Index is equal-weighted, reconstituted and rebalanced annually, and calculates the net daily rate of return for a pool of Commodity Trading Advisors selected from the larger managers that are open to new investment. AlphaSimplex Group, LLC is part of this Index. The indexes are calculated on a total return basis with net dividends reinvested. The indexes are unmanaged, and are not available for direct investment.

Bar Chart [Heading]

Calendar year total returns for Class I Shares (previously the Predecessor Fund’s Class Y Shares)

Performance Table Heading

Average Annual Total Returns (for the periods ended 12/31/25; includes returns of the Predecessor Fund)

Performance Table Not Relevant to Tax Deferred

Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold fund shares in tax-deferred accounts or to shares held by non-taxable entities.

Performance [Table]

Average Annual Total Returns - Virtus AlphaSimplex Managed Futures Strategy Fund		12 Months Ended	60 Months Ended	104 Months Ended	120 Months Ended
	Dec. 31, 2025	Dec. 31, 2025	Dec. 31, 2025	Dec. 31, 2025	Dec. 31, 2025
FT Wilshire 5000 Index \| Average Annual Return, Label [Optional Text]	FT Wilshire 5000 Index
FT Wilshire 5000 Index \| Average Annual Return, Percent		17.13%	13.40%	14.27%	14.45%
FT Wilshire 5000 Index \| Performance Inception Date				May 01, 2017
Credit Suisse Managed Futures Liquid Index \| Average Annual Return, Label [Optional Text]	Credit Suisse Managed Futures Liquid Index
Credit Suisse Managed Futures Liquid Index \| Average Annual Return, Percent		(4.04%)	2.24%	0.81%	0.55%
Credit Suisse Managed Futures Liquid Index \| Performance Inception Date				May 01, 2017
SG Trend Index \| Average Annual Return, Label [Optional Text]	SG Trend Index
SG Trend Index \| Average Annual Return, Percent		2.39%	6.98%	5.27%	3.67%
SG Trend Index \| Performance Inception Date				May 01, 2017
Class A Shares \| Average Annual Return, Label [Optional Text]	Return Before Taxes
Class A Shares \| Average Annual Return, Percent		(14.71%)	0.56%		0.98%
Class C Shares \| Average Annual Return, Label [Optional Text]	Return Before Taxes
Class C Shares \| Average Annual Return, Percent		(10.51%)	0.93%		0.79%
Class I Shares \| Average Annual Return, Label [Optional Text]	Return Before Taxes
Class I Shares \| Average Annual Return, Percent		(9.67%)	1.94%		1.80%
Class I Shares \| After Taxes on Distributions \| Average Annual Return, Label [Optional Text]	Return After Taxes on Distributions
Class I Shares \| After Taxes on Distributions \| Average Annual Return, Percent		(10.23%)	(0.56%)		0.16%
Class I Shares \| After Taxes on Distributions and Sales \| Average Annual Return, Label [Optional Text]	Return After Taxes on Distributions and Sale of Fund Shares
Class I Shares \| After Taxes on Distributions and Sales \| Average Annual Return, Percent		(5.73%)	0.92%		0.92%
Class R6 Shares \| Average Annual Return, Label [Optional Text]	Return Before Taxes
Class R6 Shares \| Average Annual Return, Percent		(9.51%)	2.06%	2.89%
Class R6 Shares \| Performance Inception Date				May 01, 2017

Index No Deduction for Fees, Expenses, or Taxes [Text]

(reflects no deduction for fees, expenses or taxes)

Performance Availability Website Address [Text]

virtus.com

Year to Date Return, Label [Optional Text]

Year to Date

Bar Chart, Year to Date Return, Date

Mar. 31, 2026

Highest Quarterly Return

18.13%

Lowest Quarterly Return, Label [Optional Text]

Worst Quarter

Lowest Quarterly Return, Date

Jun. 30, 2025