Compare Funds | Royce
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At a Glance
As of 09/30/24

Small-CapRemove

Small-Cap Special EquityRemove

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Style

Core

Value

Market Cap

Small-Cap

Small-Cap

Volatility

Below Average

Low

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-, and 40-year periods ended 9/30/24.
  • Small-cap value fund that looks for conservatively managed companies with transparent accounting that have a viable niche or franchise whose stock can be bought below its economic value. Small-cap stocks' market caps are less than the largest stock in the Russell 2000® Index.
  • Seeks companies with superior balance sheets, sustainable returns on invested capital, and strong levels of free cash flow from operations, among other attributes.
  • Average annual total return of 8.5% since inception (5/1/98) through 9/30/24.

Inception Date
N/A
05/01/98

Portfolio Managers

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

Charlie Dreifus, Steven McBoyle, Tim Hipskind

Portfolio Diagnostics As of 09/30/24

 

Small-Cap

Small-Cap Special Equity

Total Net Assets

1.97B

711.1M

Holdings

286

32

Average Market Cap

3.59B

1.44B

Active Share

88%

98%
2023
Portfolio Turnover

40%

14%

Weighted Average P/E,

17.6x

13.6x

Weighted Average P/B,

2.2x

1.7x

Weighted Average P/S

-

-

Composition As of 09/30/24

 

Small-Cap

Small-Cap Special Equity

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

Small-Cap Special Equity

Industrials

27.1

22.0

Information Technology

18.8

8.0

Financials

18.0

5.1

Consumer Discretionary

8.6

13.8

Health Care

8.4

-

Materials

7.2

9.6

Communication Services

2.5

4.2

Real Estate

2.5

3.6

Energy

1.8

0.8

Consumer Staples

1.4

8.6

Utilities

-

-

Cash and Cash Equivalents

3.7

24.3

Portfolio Overlap

Small-Cap

Small-Cap Special Equity

Small-Cap

-

7%

Small-Cap Special Equity

7%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 PremierSmall-Cap Total ReturnSmall-Cap Opportunity Small-CapDividend ValueSmall-Cap Total Return

Least Portfolio Overlap - U.S. Equity Funds

 Small-Cap Special EquitySmaller-Companies GrowthMicro-Cap Micro-CapCapital Micro-CapSmaller-Companies Growth

Risk As of 09/30/24

 

Small-Cap

Small-Cap Special Equity

Five-Year Up/Down Capture Ratio

↑ 103   ↓ 91

↑ 76   ↓ 66

Beta

N/A

N/A

Standard Deviation

20.66

16.12

Sharpe Ratio

0.24

0.19

Volatility

Performance As of 09/30/24

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 09/30/24

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 4.38 9.04 23.07 7.02 11.64 9.60 14.69 10/31/72 0.94 0.94
Russell 2000 Index - 9.27 11.17 26.76 1.84 9.39 8.78 - - - -
Small-Cap Special Equity RYSEX 4.82 3.34 12.57 5.82 9.12 7.07 8.50 05/01/98 1.22 1.22
Russell 2000 Value Index - 10.15 9.22 25.88 3.77 9.29 8.22 - - - -
Russell 2000 Index - 9.27 11.17 26.76 1.84 9.39 8.78 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER OCT YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap PENNX -2.80 5.99 27.38 4.48 10.48 8.79 14.33 10/31/72 0.94 0.94
Russell 2000 Index - -1.44 9.56 34.07 -0.05 8.50 7.94 - - - -
Small-Cap Special Equity RYSEX -1.82 1.47 13.91 3.67 8.06 6.14 8.40 05/01/98 1.22 1.22
Russell 2000 Value Index - -1.56 7.51 31.77 1.95 8.42 7.33 - - - -
Russell 2000 Index - -1.44 9.56 34.07 -0.05 8.50 7.94 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER NOV QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap PENNX 4.73 1.80 22.84 4.94 11.05 9.29 14.77 10/31/72 0.94 0.94
Russell 2000 - N/A N/A N/A N/A N/A N/A - - - -
Small-Cap Special Equity RYSEX 3.58 1.70 13.39 3.45 8.91 6.52 8.52 05/01/98 1.22 1.22
Russell 2000 - N/A N/A N/A N/A N/A N/A - - - -
Russell 2000 Value - N/A N/A N/A N/A N/A N/A - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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