Compare Funds | Royce
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At a Glance
As of 09/30/24

Small-Cap OpportunityRemove

Dividend ValueRemove

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Style

Value

Value

Market Cap

Small-Cap

Small/Mid-Cap

Volatility

High

Below Average

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • Small-cap value fund that uses an opportunistic approach to invest in companies are categorized into themes: Turnarounds, Unrecognized Asset Values, Undervalued Growth, and Interrupted Earnings. Small-cap stocks' market caps are less than the largest stock in the Russell 2000® Index.
  • Identifies a catalyst for future earnings growth in the form of new management, more favorable business cycle, product innovation, and/or margin improvement.
  • Outperformed its benchmark for the 5-, 10-, 15-, 20-, 25-year, and since inception (11/19/96) periods ended 9/30/24.
  • 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 9/30/24.

Inception Date
11/19/96
05/03/04

Portfolio Managers

Jim Harvey, Kavitha Venkatraman, Jim Stoeffel, Brendan Hartman

Miles Lewis, Joseph Hintz, Jag Sriram

Portfolio Diagnostics As of 09/30/24

 

Small-Cap Opportunity

Dividend Value

Total Net Assets

1.23B

71.0M

Holdings

225

47

Average Market Cap

1.33B

8.84B

Active Share

90%

97%
2023
Portfolio Turnover

35%

14%

Weighted Average P/E,

-

21.6x

Weighted Average P/B,

1.7x

3.0x

Weighted Average P/S

1.0x

-

Composition As of 09/30/24

 

Small-Cap Opportunity

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 Opportunity

Dividend Value

Industrials

27.5

30.7

Information Technology

19.5

0.5

Consumer Discretionary

12.0

5.4

Health Care

8.3

4.1

Financials

8.0

35.7

Energy

7.9

1.6

Materials

6.4

14.6

Communication Services

5.1

-

Consumer Staples

1.3

-

Real Estate

0.4

1.6

Utilities

-

-

Cash and Cash Equivalents

3.6

5.8

Portfolio Overlap

Small-Cap Opportunity

Dividend Value

Small-Cap Opportunity

-

6%

Dividend Value

6%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Capital Micro-CapMicro-CapSmall-Cap Small-CapPremierSmall-Cap Total Return

Least Portfolio Overlap - U.S. Equity Funds

 PremierDividend ValueSmall-Cap Special Equity Micro-CapCapital Micro-CapCapital Small-Cap

Risk As of 09/30/24

 

Small-Cap Opportunity

Dividend Value

Five-Year Up/Down Capture Ratio

↑ 122   ↓ 106

↑ 105   ↓ 102

Beta

N/A

N/A

Standard Deviation

24.31

20.74

Sharpe Ratio

0.11

0.38

Volatility

Performance As of 09/30/24

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 09/30/24

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 Opportunity RYPNX 2.75 6.42 18.30 3.72 13.94 10.04 11.81 11/19/96 1.23 1.23
Russell 2000 Value Index - 10.15 9.22 25.88 3.77 9.29 8.22 - - - -
Russell 2000 Index - 9.27 11.17 26.76 1.84 9.39 8.78 - - - -
Dividend Value RDVIX 9.66 16.97 33.00 10.05 11.46 8.99 9.17 05/03/04 1.27 1.09
Russell 2500 Index - 8.75 11.30 26.17 3.47 10.43 9.50 - - - -
Russell 2000 Index - 9.27 11.17 26.76 1.84 9.39 8.78 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER OCT YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap Opportunity RYPNX -3.61 2.58 23.41 1.25 12.66 9.30 11.63 11/19/96 1.23 1.23
Russell 2000 Value Index - -1.56 7.51 31.77 1.95 8.42 7.33 - - - -
Russell 2000 Index - -1.44 9.56 34.07 -0.05 8.50 7.94 - - - -
Dividend Value RDVIX 0.43 17.48 40.48 8.19 10.91 8.76 9.16 05/03/04 1.27 1.09
Russell 2500 Index - -0.93 10.27 33.08 1.51 9.81 8.92 - - - -
Russell 2000 Index - -1.44 9.56 34.07 -0.05 8.50 7.94 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER NOV QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Small-Cap Opportunity RYPNX 12.45 8.40 28.42 3.41 14.76 10.57 12.07 11/19/96 1.23 1.23
Russell 2000 - N/A N/A N/A N/A N/A N/A - - - -
Russell 2000 Value - N/A N/A N/A N/A N/A N/A - - - -
Dividend Value RDVIX 6.71 7.17 38.54 9.51 11.90 9.36 9.47 05/03/04 1.27 1.09
Russell 2000 - N/A N/A N/A N/A N/A N/A - - - -
Russell 2500 - N/A N/A N/A N/A N/A N/A - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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