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

Small-Cap Special EquityRemove

PremierRemove

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Style

Value

Core

Market Cap

Small-Cap

Small-Cap

Volatility

Low

Low

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • 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 8.6% since inception (5/1/98) through 3/31/24.
  • Small-cap core fund that seeks to invest in "premier" small-cap companies, those Royce sees having discernible competitive advantages, high returns on capital, and a sustainable franchise. Small-cap stocks' market caps are less than the largest stock in the Russell 2000® Index.
  • Focuses on leading quality companies, those with low debt, the ability to generate excess cash flow, and attractive prospects that are selling at prices Royce believes do not fully reflect these attributes.
  • Outperformed its benchmark for the 3-, 5-, 10-, 15-, 20-, 25-, 30-year, and since inception (12/31/91) periods ended 3/31/24.

Inception Date
05/01/98
12/31/91

Portfolio Managers

Charlie Dreifus, Steven McBoyle, Tim Hipskind

Andrew Palen, Lauren Romeo, Chuck Royce, Steven McBoyle

Portfolio Diagnostics As of 03/31/24

 

Small-Cap Special Equity

Premier

Total Net Assets

766.7M

1.50B

Holdings

35

50

Average Market Cap

1.63B

5.66B

Active Share

97%

97%
2023
Portfolio Turnover

14%

15%

Weighted Average P/E,

12.1x

25.9x

Weighted Average P/B,

1.8x

3.0x

Weighted Average P/S

-

-

Composition As of 03/31/24

 

Small-Cap Special Equity

Premier

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 Special Equity

Premier

Industrials

28.4

34.8

Consumer Discretionary

14.3

10.7

Consumer Staples

10.3

1.7

Materials

9.8

10.9

Information Technology

8.6

11.7

Financials

4.7

10.3

Communication Services

3.9

1.6

Real Estate

3.2

7.1

Energy

1.3

-

Health Care

-

5.8

Utilities

-

-

Cash and Cash Equivalents

15.6

5.4

Portfolio Overlap

Small-Cap Special Equity

Premier

Small-Cap Special Equity

-

7%

Premier

7%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Capital Small-CapSmall-Cap ValuePremier Small-CapDividend ValueSmall-Cap Total Return

Least Portfolio Overlap - U.S. Equity Funds

 Smaller-Companies GrowthSmall-CapMicro-Cap Smaller-Companies GrowthMicro-CapSmall-Cap Value

Risk As of 03/31/24

 

Small-Cap Special Equity

Premier

Five-Year Up/Down Capture Ratio

↑ 75   ↓ 64

↑ 99   ↓ 85

Beta

N/A

N/A

Standard Deviation

14.73

19.71

Sharpe Ratio

0.22

0.19

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 Special Equity RYSEX 2.17 2.17 11.49 5.32 8.25 6.27 8.62 05/01/98 1.22 1.22
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 - - - -
Premier RYPRX 5.56 5.56 18.18 4.83 10.42 8.58 11.34 12/31/91 1.19 1.19
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 Special Equity RYSEX -3.33 -1.23 11.09 3.13 6.94 6.27 8.45 05/01/98 1.22 1.22
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 - - - -
Premier RYPRX -7.81 -2.69 10.65 1.35 7.34 7.66 11.03 12/31/91 1.19 1.19
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 Special Equity RYSEX 3.86 0.40 13.60 4.21 8.76 6.66 8.59 05/01/98 1.22 1.22
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 - - - -
Premier RYPRX 6.60 -1.73 19.39 3.99 9.92 8.52 11.24 12/31/91 1.19 1.19
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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