Compare Funds | Royce
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At a Glance
As of 06/30/26

Capital 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 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.
  • Outperformed its benchmark for the 1-, 3-, 5-, 10-, and 25-year periods ended 6/30/26.
  • 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 11.8% since inception (6/14/01) through 6/30/26.

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

Portfolio Managers

Jim Stoeffel, Andrew Palen

Chip Skinner

Portfolio Diagnostics As of 06/30/26

 

Capital Micro-Cap

Smaller-Companies Growth

Total Net Assets

140.8M

238.4M

Holdings

156

81

Average Market Cap

1.00B

2.67B

Active Share

88%

93%
2025
Portfolio Turnover

42%

75%

Weighted Average P/E,

-

-

Weighted Average P/B,

2.3x

4.1x

Weighted Average P/S

-

-

Composition As of 06/30/26

 

Capital 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

Capital Micro-Cap

Smaller-Companies Growth

Industrials

25.3

16.8

Information Technology

23.5

17.1

Health Care

12.4

32.7

Consumer Discretionary

11.9

3.2

Financials

11.6

5.9

Materials

4.1

3.9

Energy

3.5

5.0

Communication Services

2.0

4.8

Real Estate

0.6

-

Consumer Staples

-

3.3

Utilities

-

0.7

Cash and Cash Equivalents

5.2

6.6

Portfolio Overlap

Capital Micro-Cap

Smaller-Companies Growth

Capital Micro-Cap

-

17%

Smaller-Companies Growth

17%

-

Greatest Portfolio Overlap - U.S. Equity Funds

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

Least Portfolio Overlap - U.S. Equity Funds

 Capital Small-CapSmall-Cap ValueSMid-Cap Total Return Capital Small-CapSmall-Cap ValuePremier

Risk As of 06/30/26

 

Capital Micro-Cap

Smaller-Companies Growth

Five-Year Up/Down Capture Ratio

↑ 106   ↓ 75

↑ 115   ↓ 117

Beta

N/A

N/A

Standard Deviation

22.67

21.30

Sharpe Ratio

0.95

0.88

Volatility

Performance As of 06/30/26

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 06/30/26

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
Capital Micro-Cap RCMCX 32.56 44.27 67.58 26.65 12.31 14.24 11.06 12/27/96 1.22 1.22
Russell Microcap Index - 25.63 27.50 58.55 23.97 7.07 12.47 - - - -
Russell 2000 Index - 21.49 22.57 40.78 18.60 6.98 11.62 - - - -
Smaller-Companies Growth RVPHX 32.56 26.02 40.47 23.30 5.91 13.52 11.80 06/14/01 1.28 1.02
Russell 2000 Growth Index - 25.71 22.18 38.74 18.44 5.57 11.97 - - - -
Russell 2000 Index - 21.49 22.57 40.78 18.60 6.98 11.62 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER JUL YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Capital Micro-Cap RCMCX -7.80 33.02 50.88 21.24 10.66 12.71 10.72 12/27/96 1.22 1.22
Russell Microcap Index - -6.01 19.84 45.98 19.34 6.96 11.20 - - - -
Russell 2000 Index - -3.03 18.85 34.18 15.09 7.11 10.64 - - - -
Smaller-Companies Growth RVPHX -5.77 18.74 31.13 19.26 5.72 12.42 11.50 06/14/01 1.28 1.02
Russell 2000 Growth Index - -5.86 15.02 28.42 14.32 5.07 10.59 - - - -
Russell 2000 Index - -3.03 18.85 34.18 15.09 7.11 10.64 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER JUL QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Capital Micro-Cap RCMCX -7.80 -7.80 50.88 21.24 10.66 12.71 10.72 12/27/96 1.22 1.22
Russell Microcap Index - -6.01 -6.01 45.98 19.34 6.96 11.20 - - - -
Russell 2000 Index - -3.03 -3.03 34.18 15.09 7.11 10.64 - - - -
Smaller-Companies Growth RVPHX -5.77 -5.77 31.13 19.26 5.72 12.42 11.50 06/14/01 1.28 1.02
Russell 2000 Growth Index - -5.86 -5.86 28.42 14.32 5.07 10.59 - - - -
Russell 2000 Index - -3.03 -3.03 34.18 15.09 7.11 10.64 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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