Compare Funds | Royce
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At a Glance
As of 03/31/24

Small-Cap ValueRemove

Small-CapRemove

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Style

Value

Core

Market Cap

Small-Cap

Small-Cap

Volatility

Above Average

Below Average

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • Small-cap value fund that focuses on companies with above-average profitability and low leverage that are selling at attractive valuations due to what Royce believes are temporary factors. Small-cap stocks' market caps are less than the largest stock in the Russell 2000® Index.
  • Takes a contrarian value approach, looking for stocks with solid fundamentals in industries where pessimism runs high.
  • Has a long-term history of low volatility.
  • One of the first open-end small-cap funds, managed for more than 50 years by the same portfolio manager—a recognized pioneer of small-cap investing.
  • 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 1-, 3-, 5-, 10-, 15-, 20-, 25-, 30-, 35-, and 40-year periods ended 3/31/24.

Inception Date
06/14/01
N/A

Portfolio Managers

Jay Kaplan

Steven McBoyle, Jay Kaplan, Chuck Royce, Miles Lewis, Andrew Palen, Lauren Romeo, Jim Stoeffel

Portfolio Diagnostics As of 03/31/24

 

Small-Cap Value

Small-Cap

Total Net Assets

126.5M

1.96B

Holdings

84

286

Average Market Cap

1.70B

3.60B

Active Share

93%

87%
2023
Portfolio Turnover

48%

40%

Weighted Average P/E,

10.4x

15.9x

Weighted Average P/B,

1.6x

2.2x

Weighted Average P/S

-

-

Composition As of 03/31/24

 

Small-Cap Value

Small-Cap

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 Value

Small-Cap

Consumer Discretionary

21.8

8.7

Industrials

18.3

28.9

Financials

17.7

18.1

Information Technology

15.4

19.2

Energy

11.3

1.9

Health Care

6.2

8.1

Communication Services

2.7

2.6

Consumer Staples

2.7

1.2

Materials

1.3

8.2

Real Estate

1.1

2.2

Utilities

-

-

Cash and Cash Equivalents

1.6

0.8

Portfolio Overlap

Small-Cap Value

Small-Cap

Small-Cap Value

-

13%

Small-Cap

13%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Capital Small-CapSmall-CapSmall-Cap Special Equity PremierSmall-Cap Total ReturnSmall-Cap Opportunity

Least Portfolio Overlap - U.S. Equity Funds

 Smaller-Companies GrowthPremierDividend Value Small-Cap Special EquitySmaller-Companies GrowthMicro-Cap

Risk As of 03/31/24

 

Small-Cap Value

Small-Cap

Five-Year Up/Down Capture Ratio

↑ 100   ↓ 95

↑ 108   ↓ 92

Beta

N/A

N/A

Standard Deviation

20.63

19.81

Sharpe Ratio

0.33

0.26

Volatility

Performance As of 03/31/24

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 03/31/24

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 Value RVVHX 3.59 3.59 27.04 7.91 8.97 5.85 9.14 06/14/01 1.35 1.24
Russell 2000 Value Index - 2.90 2.90 18.75 2.22 8.17 6.87 - - - -
Russell 2000 Index - 5.18 5.18 19.71 -0.10 8.10 7.58 - - - -
Small-Cap PENNX 6.43 6.43 24.64 6.34 11.62 8.65 13.33 10/31/72 0.94 0.94
Russell 2000 Index - 5.18 5.18 19.71 -0.10 8.10 7.58 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER APR YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap Value RVVHX -6.46 -3.10 24.27 4.24 6.41 5.31 8.78 06/14/01 1.35 1.24
Russell 2000 Value Index - -6.37 -3.66 14.03 -0.67 5.96 6.45 - - - -
Russell 2000 Index - -7.04 -2.22 13.32 -3.18 5.83 7.22 - - - -
Small-Cap PENNX -6.14 -0.11 19.60 2.86 9.08 8.22 13.28 10/31/72 0.94 0.94
Russell 2000 Index - -7.04 -2.22 13.32 -3.18 5.83 7.22 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER MAY QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap Value RVVHX 4.40 -2.34 30.34 5.23 8.89 5.88 8.97 06/14/01 1.35 1.24
Russell 2000 Value Index - 6.55 -0.24 21.75 0.66 8.01 7.33 - - - -
Russell 2000 Index - 6.26 -1.22 19.92 -0.64 7.87 8.10 - - - -
Small-Cap PENNX 6.87 0.31 26.56 5.58 11.79 9.12 13.48 10/31/72 0.94 0.94
Russell 2000 Index - 6.26 -1.22 19.92 -0.64 7.87 8.10 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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