Compare Funds | Royce
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At a Glance
As of 09/30/25

Small-CapRemove

Smaller-Companies GrowthRemove

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Style

Core

Growth

Market Cap

Small-Cap

Small-Cap

Volatility

Below Average

High

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • One of the first open-end small-cap funds.
  • Multi-discipline approach that offers exposure to strategies that have tended to perform well in different market environments, including High Quality, Emerging Quality, Traditional Value, and Quality Value.
  • Outperformed its benchmark for the 3-, 5-, 10-, 20-, 25-, 30-, 35-, 40-year and 45-year periods ended 9/30/25.
  • Small/mid-cap growth fund (generally market caps up to $7.5 billion) that invests in companies with superior revenue and/or earnings growth selling at prices that Royce believes do not fully reflect their prospects.
  • Seeks companies that look poised for multi-year periods of robust growth driven by sustainable competitive advantages and/or benefiting from secular growth themes that create favorable conditions for the business.
  • Outperformed its benchmark for the 1-, 3-, 5-, 10-year, and since inception (6/14/01) periods ended 9/30/25.

Inception Date
N/A
06/14/01

Portfolio Managers

Andrew Palen, Steven McBoyle, Lauren Romeo, Miles Lewis, Francis Gannon, Jay Kaplan

Chip Skinner

Portfolio Diagnostics As of 09/30/25

 

Small-Cap

Smaller-Companies Growth

Total Net Assets

1.80B

195.3M

Holdings

267

75

Average Market Cap

3.67B

2.36B

Active Share

87%

93%
2024
Portfolio Turnover

37%

73%

Weighted Average P/E,

17.9x

-

Weighted Average P/B,

2.2x

4.1x

Weighted Average P/S

-

-

Composition As of 09/30/25

 

Small-Cap

Smaller-Companies Growth

Morningstar Style Map

The Morningstar Style Map is the Morningstar Style Box™ with the center 75% of fund holdings plotted as the Morningstar Ownership Zone™. The Morningstar Style Box is designed to reveal a fund's investment strategy. The Morningstar Ownership Zone provides detail about a portfolio's investment style by showing the range of stock sizes and styles. The Ownership Zone is derived by plotting each stock in the portfolio within the proprietary Morningstar Style Box. The shaded area represents the center 75% of the Fund's assets while the plot point in the middle represents the weighted average of its holdings. Over time, the shape and location of a fund's ownership zone may vary.

Geographic Breakdown

Sector Breakdowns

Small-Cap

Smaller-Companies Growth

Industrials

28.4

21.6

Financials

19.8

10.1

Information Technology

16.6

23.8

Consumer Discretionary

10.1

8.1

Health Care

8.3

18.5

Materials

7.6

3.7

Energy

2.1

4.2

Real Estate

1.3

-

Consumer Staples

0.9

3.5

Communication Services

0.8

1.2

Utilities

-

-

Cash and Cash Equivalents

4.2

5.2

Portfolio Overlap

Small-Cap

Smaller-Companies Growth

Small-Cap

-

11%

Smaller-Companies Growth

11%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 PremierSmall-Cap Total ReturnSMid-Cap Total Return Capital Micro-CapMicro-CapSmall-Cap

Least Portfolio Overlap - U.S. Equity Funds

 Small-Cap Special EquitySmaller-Companies GrowthMicro-Cap Small-Cap ValueSmall-Cap Special EquityPremier

Risk As of 09/30/25

 

Small-Cap

Smaller-Companies Growth

Five-Year Up/Down Capture Ratio

↑ 101   ↓ 87

↑ 115   ↓ 114

Beta

N/A

N/A

Standard Deviation

18.98

21.64

Sharpe Ratio

0.66

0.68

Volatility

Performance As of 09/30/25

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 09/30/25

Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER QTR YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap PENNX 7.70 6.87 4.93 16.90 13.28 11.08 13.24 10/31/72 0.93 0.93
Russell 2000 Index - 12.39 10.39 10.76 15.21 11.56 9.77 - - - -
Smaller-Companies Growth RVPHX 4.71 12.66 19.49 18.75 9.56 10.01 10.84 06/14/01 1.26 1.02
Russell 2000 Growth Index - 12.19 11.65 13.56 16.68 8.41 9.91 - - - -
Russell 2000 Index - 12.39 10.39 10.76 15.21 11.56 9.77 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER NOV YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap PENNX 2.18 8.86 1.13 11.78 9.92 10.48 13.13 10/31/72 0.93 0.93
Russell 2000 Index - 0.96 13.47 4.09 11.43 7.99 9.12 - - - -
Smaller-Companies Growth RVPHX -0.11 17.09 7.15 15.98 6.79 9.87 10.93 06/14/01 1.26 1.02
Russell 2000 Growth Index - -0.68 14.48 5.11 13.54 5.31 9.18 - - - -
Russell 2000 Index - 0.96 13.47 4.09 11.43 7.99 9.12 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER DEC QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap PENNX 2.15 4.05 5.25 13.52 9.39 11.37 13.36 10/31/72 0.93 0.93
Russell 2000 Index - 2.10 4.95 9.55 13.58 7.37 10.04 - - - -
Smaller-Companies Growth RVPHX 2.81 6.85 13.89 18.63 6.44 10.70 11.04 06/14/01 1.26 1.02
Russell 2000 Growth Index - 1.35 3.91 10.07 15.40 4.63 9.97 - - - -
Russell 2000 Index - 2.10 4.95 9.55 13.58 7.37 10.04 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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