Compare Funds | Royce
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At a Glance
As of 09/30/26

Small-Cap 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-cap growth fund that invests primarily in companies with above average revenue and/or earnings growth selling at prices that Royce believes do not fully reflect their prospects. Small-cap stocks market caps are not greater than that of the largest stock in the Russell 2000® Index.
  • 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 11.6% since inception (6/14/01) through 9/30/26.
  • One of the only variable annuity products dedicated to investing in micro-cap stocks. Micro-cap stocks' market caps are not greater than that of the largest stock 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 the Russell Microcap Index for the 1-, 3-, 5-, 10-, 25-year and since inception (6/30/00) periods ended 9/30/26.

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

Portfolio Managers

Chip Skinner

Jim Stoeffel, Andrew Palen

Portfolio Diagnostics As of 09/30/26

 

Small-Cap Growth

Capital Micro-Cap

Total Net Assets

228.6M

128.0M

Holdings

80

159

Average Market Cap

2.52B

881.8M

Active Share

92%

89%
2025
Portfolio Turnover

75%

42%

Weighted Average P/E,

-

-

Weighted Average P/B,

3.6x

2.1x

Weighted Average P/S

-

-

Composition As of 09/30/26

 

Small-Cap 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

Small-Cap Growth

Capital Micro-Cap

Health Care

34.2

15.4

Information Technology

16.6

21.1

Industrials

14.2

22.1

Financials

7.6

12.2

Energy

7.2

3.6

Communication Services

5.1

2.7

Materials

4.9

4.4

Consumer Discretionary

3.1

12.3

Consumer Staples

3.0

-

Utilities

0.6

-

Real Estate

-

1.0

Cash and Cash Equivalents

3.4

5.2

Portfolio Overlap

Small-Cap Growth

Capital Micro-Cap

Small-Cap Growth

-

12%

Capital Micro-Cap

12%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Micro-CapCapital Micro-CapSmall-Cap Opportunity Micro-CapSmall-Cap OpportunitySmall-Cap

Least Portfolio Overlap - U.S. Equity Funds

 Capital Small-CapSmall-Cap ValueSmall-Cap Special Equity Capital Small-CapSmall-Cap ValuePremier

Risk As of 09/30/26

 

Small-Cap Growth

Capital Micro-Cap

Five-Year Up/Down Capture Ratio

↑ 115   ↓ 106

↑ 106   ↓ 79

Beta

N/A

N/A

Standard Deviation

20.44

22.80

Sharpe Ratio

1.06

0.89

Volatility

Performance As of 09/30/26

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 09/30/26

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
Small-Cap Growth RVPHX -2.74 22.56 30.48 26.99 6.51 12.59 11.56 06/14/01 1.28 1.02
Russell 2000 Growth Index - -9.39 10.71 12.05 17.55 4.72 9.90 - - - -
Russell 2000 Index - -7.23 13.71 16.20 17.72 6.34 9.84 - - - -
Capital Micro-Cap RCMCX -7.14 33.96 37.61 24.91 11.24 12.52 10.69 12/27/96 1.22 1.22
Russell Microcap Index - -7.20 18.32 25.72 24.29 6.56 10.45 - - - -
Russell 2000 Index - -7.23 13.71 16.20 17.72 6.34 9.84 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER SEP YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap Growth RVPHX -1.97 22.56 30.48 26.99 6.51 12.59 11.56 06/14/01 1.28 1.02
Russell 2000 Growth Index - -5.31 10.71 12.05 17.55 4.72 9.90 - - - -
Russell 2000 Index - -5.25 13.71 16.20 17.72 6.34 9.84 - - - -
Capital Micro-Cap RCMCX -0.39 33.96 37.61 24.91 11.24 12.52 10.69 12/27/96 1.22 1.22
Russell Microcap Index - -4.18 18.32 25.72 24.29 6.56 10.45 - - - -
Russell 2000 Index - -5.25 13.71 16.20 17.72 6.34 9.84 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER OCT QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap Growth RVPHX -2.31 -2.31 22.64 30.14 4.69 12.88 11.41 06/14/01 1.28 1.02
Russell 2000 Growth Index - -1.30 -1.30 8.09 20.64 3.49 10.49 - - - -
Russell 2000 Index - 0.58 0.58 15.43 21.13 5.58 10.47 - - - -
Capital Micro-Cap RCMCX -1.81 -1.81 32.31 27.75 9.68 12.74 10.59 12/27/96 1.22 1.22
Russell Microcap Index - -3.73 -3.73 16.50 26.30 5.29 10.68 - - - -
Russell 2000 Index - 0.58 0.58 15.43 21.13 5.58 10.47 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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