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

Smaller-Companies GrowthRemove

Capital Micro-CapRemove

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Style

Growth

Core

Market Cap

Small-Cap

Micro-Cap

Volatility

High

High

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • 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.
  • Average annual total return of 10.5% since inception (6/14/01) through 3/31/24.
  • One of the only variable annuity products dedicated to investing in micro-cap stocks, which Royce defines as companies with market caps no higher than 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 9.7% since inception (12/27/96) through 3/31/24.

Inception Date
06/14/01
12/27/96

Portfolio Managers

Chip Skinner

Brendan Hartman, Jim Stoeffel

Portfolio Diagnostics As of 03/31/24

 

Smaller-Companies Growth

Capital Micro-Cap

Total Net Assets

190.7M

138.0M

Holdings

84

124

Average Market Cap

2.48B

612.7M

Active Share

93%

89%
2023
Portfolio Turnover

65%

24%

Weighted Average P/E,

-

-

Weighted Average P/B,

3.8x

1.8x

Weighted Average P/S

-

-

Composition As of 03/31/24

 

Smaller-Companies Growth

Capital Micro-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

Smaller-Companies Growth

Capital Micro-Cap

Information Technology

30.4

25.9

Industrials

22.2

25.8

Health Care

17.5

6.8

Consumer Discretionary

8.4

12.3

Financials

8.2

11.7

Consumer Staples

3.7

0.6

Materials

3.3

4.5

Energy

3.3

3.9

Real Estate

1.7

0.6

Communication Services

0.0

4.6

Utilities

-

-

Cash and Cash Equivalents

1.3

3.4

Portfolio Overlap

Smaller-Companies Growth

Capital Micro-Cap

Smaller-Companies Growth

-

9%

Capital Micro-Cap

9%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Micro-CapCapital Micro-CapSmall-Cap Total Return Micro-CapSmall-Cap OpportunitySmall-Cap

Least Portfolio Overlap - U.S. Equity Funds

 Small-Cap Special EquitySmall-Cap ValueCapital Small-Cap PremierSmall-Cap Total ReturnSmall-Cap Special Equity

Risk As of 03/31/24

 

Smaller-Companies Growth

Capital Micro-Cap

Five-Year Up/Down Capture Ratio

↑ 116   ↓ 114

↑ 101   ↓ 81

Beta

N/A

N/A

Standard Deviation

25.37

22.19

Sharpe Ratio

-0.23

0.07

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
Smaller-Companies Growth RVPHX 9.31 9.31 16.85 -5.83 8.49 7.24 10.47 06/14/01 1.27 1.24
Russell 2000 Growth Index - 7.58 7.58 20.35 -2.68 7.38 7.89 - - - -
Russell 2000 Index - 5.18 5.18 19.71 -0.10 8.10 7.58 - - - -
Capital Micro-Cap RCMCX 4.58 4.58 21.39 2.11 11.06 6.09 9.67 12/27/96 1.18 1.18
Russell Microcap Index - 4.68 4.68 17.78 -4.89 6.90 5.96 - - - -
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
Smaller-Companies Growth RVPHX -5.77 3.00 14.33 -9.07 6.36 7.05 10.14 06/14/01 1.27 1.24
Russell 2000 Growth Index - -7.70 -0.70 12.39 -5.92 5.04 7.60 - - - -
Russell 2000 Index - -7.04 -2.22 13.32 -3.18 5.83 7.22 - - - -
Capital Micro-Cap RCMCX -7.19 -2.94 18.51 -1.44 8.67 5.53 9.34 12/27/96 1.18 1.18
Russell Microcap Index - -7.76 -3.45 11.52 -7.50 4.78 5.74 - - - -
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
Smaller-Companies Growth RVPHX 5.25 -0.82 17.78 -5.27 7.85 8.02 10.37 06/14/01 1.27 1.24
Russell 2000 Growth Index - 5.97 -2.19 17.95 -2.10 7.05 8.47 - - - -
Russell 2000 Index - 6.26 -1.22 19.92 -0.64 7.87 8.10 - - - -
Capital Micro-Cap RCMCX 8.09 0.31 25.75 1.26 11.13 6.64 9.63 12/27/96 1.18 1.18
Russell Microcap Index - 6.72 -1.57 16.18 -4.74 6.58 6.84 - - - -
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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