Compare Funds | Royce
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At a Glance
As of 03/31/26

Micro-CapRemove

Smaller-Companies GrowthRemove

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Style

Core

Growth

Market Cap

Micro-Cap

Small-Cap

Volatility

High

High

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • One of the oldest open-end funds dedicated to investing in micro-cap stocks, which Royce defines as companies with market caps no higher than that of the largest company in the Russell Microcap® Index.
  • Core approach that combines multiple investment themes and offers wide exposure to micro-cap stocks by investing in companies with strong fundamentals and/or prospects selling at prices that Royce believes do not fully reflect these attributes.
  • Average annual total return of 10.8% since inception (12/31/91) through 3/31/26.
  • Smaller-companies 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.
  • Average annual total return of 10.7% since inception (6/14/01) through 3/31/26.

Inception Date
12/31/91
06/14/01

Portfolio Managers

Jim Stoeffel, Andrew Palen

Chip Skinner

Portfolio Diagnostics As of 03/31/26

 

Micro-Cap

Smaller-Companies Growth

Total Net Assets

322.0M

179.5M

Holdings

158

81

Average Market Cap

762.1M

2.12B

Active Share

87%

93%
2025
Portfolio Turnover

38%

75%

Weighted Average P/E,

-

-

Weighted Average P/B,

1.9x

3.3x

Weighted Average P/S

-

-

Composition As of 03/31/26

 

Micro-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

Micro-Cap

Smaller-Companies Growth

Industrials

25.3

22.1

Information Technology

21.8

14.8

Financials

14.0

7.4

Health Care

11.7

22.1

Consumer Discretionary

11.2

7.8

Energy

5.9

6.3

Materials

4.9

4.6

Communication Services

2.2

2.1

Real Estate

0.3

-

Utilities

-

1.0

Consumer Staples

0.1

5.7

Cash and Cash Equivalents

2.7

6.0

Portfolio Overlap

Micro-Cap

Smaller-Companies Growth

Micro-Cap

-

19%

Smaller-Companies Growth

19%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Capital Micro-CapSmall-Cap OpportunitySmaller-Companies Growth Capital Micro-CapMicro-CapSmall-Cap Opportunity

Least Portfolio Overlap - U.S. Equity Funds

 Small-Cap Special EquityCapital Small-CapPremier Capital Small-CapSmall-Cap ValueSmall-Cap Special Equity

Risk As of 03/31/26

 

Micro-Cap

Smaller-Companies Growth

Five-Year Up/Down Capture Ratio

↑ 103   ↓ 74

↑ 114   ↓ 117

Beta

N/A

N/A

Standard Deviation

21.80

20.16

Sharpe Ratio

0.64

0.52

Volatility

Performance As of 03/31/26

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 03/31/26

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
Micro-Cap RYOTX 9.23 9.23 45.42 17.76 7.62 11.53 10.83 12/31/91 1.23 1.23
Russell Microcap Index - 1.49 1.49 45.78 16.88 3.13 10.36 - - - -
Russell 2000 Index - 0.89 0.89 25.72 13.05 3.77 9.88 - - - -
Smaller-Companies Growth RVPHX -4.93 -4.93 22.89 14.19 1.25 10.47 10.66 06/14/01 1.26 1.02
Russell 2000 Growth Index - -2.81 -2.81 23.58 12.27 1.62 9.79 - - - -
Russell 2000 Index - 0.89 0.89 25.72 13.05 3.77 9.88 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER MAR YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Micro-Cap RYOTX -5.63 9.23 45.42 17.76 7.62 11.53 10.83 12/31/91 1.23 1.23
Russell Microcap Index - -4.91 1.49 45.78 16.88 3.13 10.36 - - - -
Russell 2000 Index - -5.00 0.89 25.72 13.05 3.77 9.88 - - - -
Smaller-Companies Growth RVPHX -6.20 -4.93 22.89 14.19 1.25 10.47 10.66 06/14/01 1.26 1.02
Russell 2000 Growth Index - -6.30 -2.81 23.58 12.27 1.62 9.79 - - - -
Russell 2000 Index - -5.00 0.89 25.72 13.05 3.77 9.88 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER APR QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Micro-Cap RYOTX 11.35 11.35 74.21 23.04 9.34 12.65 11.16 12/31/91 1.23 1.23
Russell Microcap Index - 10.41 10.41 73.10 21.47 5.36 11.18 - - - -
Russell 2000 Index - 8.97 8.97 47.86 16.78 5.17 10.66 - - - -
Smaller-Companies Growth RVPHX 8.30 8.30 39.16 18.22 2.18 11.20 11.00 06/14/01 1.26 1.02
Russell 2000 Growth Index - 11.18 11.18 46.94 16.55 3.42 10.74 - - - -
Russell 2000 Index - 8.97 8.97 47.86 16.78 5.17 10.66 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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