Compare Funds | Royce
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At a Glance
As of 06/30/25

Capital Micro-CapRemove

SMid-Cap Total ReturnRemove

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Style

Core

Value

Market Cap

Micro-Cap

SMid-Cap

Volatility

High

Below Average

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.
  • Average annual total return of 9.5% since inception (12/27/96) through 6/30/25.
  • SMid-Cap fund that invests primarily in capital-returning stocks with solid fundamentals. SMid-cap stocks' market caps are less than the largest stock in the Russell 2500® Index.
  • Focuses on quality businesses, both U.S. and foreign, with below-average debt and above-average profitability selling at prices that Royce believes do not fully reflect underlying quality.
  • Average annual total return of 8.9% since inception (5/3/04) through 6/30/25.

Inception Date
12/27/96
05/03/04

Portfolio Managers

Jim Stoeffel, Andrew Palen

Miles Lewis, Joseph Hintz, Jag Sriram

Portfolio Diagnostics As of 06/30/25

 

Capital Micro-Cap

SMid-Cap Total Return

Total Net Assets

125.1M

66.9M

Holdings

153

46

Average Market Cap

640.6M

5.05B

Active Share

87%

96%
2024
Portfolio Turnover

19%

62%

Weighted Average P/E,

-

15.6x

Weighted Average P/B,

1.7x

2.0x

Weighted Average P/S

-

-

Composition As of 06/30/25

 

Capital Micro-Cap

SMid-Cap Total Return

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

SMid-Cap Total Return

Industrials

25.9

20.5

Information Technology

21.6

14.1

Financials

17.1

28.8

Consumer Discretionary

11.1

11.5

Health Care

9.3

2.5

Communication Services

4.2

-

Energy

4.1

3.2

Materials

3.0

13.5

Consumer Staples

1.0

1.2

Real Estate

1.0

-

Utilities

-

-

Cash and Cash Equivalents

1.7

4.7

Portfolio Overlap

Capital Micro-Cap

SMid-Cap Total Return

Capital Micro-Cap

-

2%

SMid-Cap Total Return

2%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Micro-CapSmall-Cap OpportunitySmall-Cap Small-Cap Total ReturnSmall-CapPremier

Least Portfolio Overlap - U.S. Equity Funds

 SMid-Cap Total ReturnPremierSmall-Cap Special Equity Micro-CapCapital Micro-CapSmall-Cap Value

Risk As of 06/30/25

 

Capital Micro-Cap

SMid-Cap Total Return

Five-Year Up/Down Capture Ratio

↑ 100   ↓ 75

↑ 107   ↓ 94

Beta

N/A

N/A

Standard Deviation

24.37

19.56

Sharpe Ratio

0.41

0.67

Volatility

Performance As of 06/30/25

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 06/30/25

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 15.32 -1.95 8.27 12.61 13.27 7.19 9.47 12/27/96 1.18 1.18
Russell Microcap Index - 15.51 -1.10 13.40 8.61 9.30 6.03 - - - -
Russell 2000 Index - 8.50 -1.79 7.68 10.00 10.04 7.12 - - - -
SMid-Cap Total Return RDVIX 4.52 -0.58 11.93 17.23 13.70 8.66 8.94 05/03/04 1.24 1.09
Russell 2500 Index - 8.59 0.44 9.91 11.31 11.44 8.39 - - - -
Russell 2500 Value Index - 7.29 1.03 10.47 10.69 13.96 7.73 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER JUN YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Capital Micro-Cap RCMCX 8.64 -1.95 8.27 12.61 13.27 7.19 9.47 12/27/96 1.18 1.18
Russell Microcap Index - 7.50 -1.10 13.40 8.61 9.30 6.03 - - - -
Russell 2000 Index - 5.44 -1.79 7.68 10.00 10.04 7.12 - - - -
SMid-Cap Total Return RDVIX 2.70 -0.58 11.93 17.23 13.70 8.66 8.94 05/03/04 1.24 1.09
Russell 2500 Index - 4.61 0.44 9.91 11.31 11.44 8.39 - - - -
Russell 2500 Value Index - 4.52 1.03 10.47 10.69 13.96 7.73 - - - -
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 2.41 2.41 3.12 9.59 13.09 8.06 9.53 12/27/96 1.18 1.18
Russell Microcap Index - 2.63 2.63 4.75 6.14 9.27 6.72 - - - -
Russell 2000 Index - 2.68 2.68 0.89 7.36 9.80 7.59 - - - -
SMid-Cap Total Return RDVIX 2.72 2.72 5.53 14.47 13.41 9.26 9.04 05/03/04 1.24 1.09
Russell 2500 Index - 2.86 2.86 5.86 8.73 11.05 8.75 - - - -
Russell 2500 Value Index - 2.62 2.62 5.38 8.26 13.67 8.18 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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