Compare Funds | Royce
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At a Glance
As of 12/31/24

Small-CapRemove

Dividend ValueRemove

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Style

Core

Value

Market Cap

Small-Cap

Small/Mid-Cap

Volatility

Below Average

Below Average

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • One of the first open-end small-cap funds.
  • 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 3-, 5-, 10-, 20-, 25-, 30-, 35-, and 40-year periods ended 12/31/24.
  • Small/mid-cap value fund (generally market caps up to $15 billion) that invests primarily in dividend-paying companies with strong business fundamentals and attractive prospects.
  • 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 9.2% since inception (5/3/04) through 12/31/24.

Inception Date
N/A
05/03/04

Portfolio Managers

Francis Gannon, Jay Kaplan, Steven McBoyle, Lauren Romeo, Miles Lewis, Andrew Palen

Miles Lewis, Joseph Hintz, Jag Sriram

Portfolio Diagnostics As of 12/31/24

 

Small-Cap

Dividend Value

Total Net Assets

1.87B

70.3M

Holdings

285

46

Average Market Cap

3.42B

5.04B

Active Share

87%

97%
2024
Portfolio Turnover

37%

62%

Weighted Average P/E,

16.3x

13.9x

Weighted Average P/B,

2.1x

2.0x

Weighted Average P/S

-

-

Composition As of 12/31/24

 

Small-Cap

Dividend Value

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

Dividend Value

Industrials

27.1

17.0

Financials

19.0

29.5

Information Technology

19.0

11.8

Consumer Discretionary

9.0

12.1

Health Care

7.6

2.4

Materials

7.0

9.7

Communication Services

2.5

-

Real Estate

2.4

0.5

Energy

2.4

3.8

Consumer Staples

0.9

-

Utilities

-

-

Cash and Cash Equivalents

3.2

13.1

Portfolio Overlap

Small-Cap

Dividend Value

Small-Cap

-

20%

Dividend Value

20%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 PremierSmall-Cap Total ReturnDividend Value Small-Cap Total ReturnSmall-CapSmall-Cap Special Equity

Least Portfolio Overlap - U.S. Equity Funds

 Small-Cap Special EquitySmaller-Companies GrowthCapital Small-Cap Capital Small-CapMicro-CapSmall-Cap Value

Risk As of 12/31/24

 

Small-Cap

Dividend Value

Five-Year Up/Down Capture Ratio

↑ 102   ↓ 91

↑ 106   ↓ 102

Beta

N/A

N/A

Standard Deviation

21.43

20.91

Sharpe Ratio

0.09

0.29

Volatility

Performance As of 12/31/24

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 12/31/24

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 PENNX -1.81 7.07 7.07 4.00 9.38 8.83 14.75 10/31/72 0.94 0.94
Russell 2000 Index - 0.33 11.54 11.54 1.24 7.40 7.82 - - - -
Dividend Value RDVIX 2.66 20.09 20.09 8.57 10.02 9.02 9.20 05/03/04 1.27 1.09
Russell 2500 Index - 0.62 12.00 12.00 2.39 8.77 8.85 - - - -
Russell 2000 Index - 0.33 11.54 11.54 1.24 7.40 7.82 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER DEC YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap PENNX -7.10 7.07 7.07 4.00 9.38 8.83 14.75 10/31/72 0.94 0.94
Russell 2000 Index - -8.26 11.54 11.54 1.24 7.40 7.82 - - - -
Dividend Value RDVIX -4.72 20.09 20.09 8.57 10.02 9.02 9.20 05/03/04 1.27 1.09
Russell 2500 Index - -7.54 12.00 12.00 2.39 8.77 8.85 - - - -
Russell 2000 Index - -8.26 11.54 11.54 1.24 7.40 7.82 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER JAN QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap PENNX 2.66 2.66 15.71 5.76 9.48 9.64 14.67 10/31/72 0.94 0.94
Russell 2000 Index - 2.08 2.08 20.60 3.21 7.44 8.29 - - - -
Dividend Value RDVIX 1.52 1.52 25.46 9.80 9.97 9.58 9.25 05/03/04 1.27 1.09
Russell 2500 Index - 3.11 3.11 20.68 4.62 8.97 9.39 - - - -
Russell 2000 Index - 2.08 2.08 20.60 3.21 7.44 8.29 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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