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

Dividend ValueRemove

Small-CapRemove

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Style

Value

Core

Market Cap

Small/Mid-Cap

Small-Cap

Volatility

Below Average

Below Average

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • 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.
  • 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 9/30/24.

Inception Date
05/03/04
N/A

Portfolio Managers

Miles Lewis, Joseph Hintz, Jag Sriram

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

Portfolio Diagnostics As of 09/30/24

 

Dividend Value

Small-Cap

Total Net Assets

71.0M

1.97B

Holdings

47

286

Average Market Cap

8.84B

3.59B

Active Share

97%

88%
2023
Portfolio Turnover

14%

40%

Weighted Average P/E,

21.6x

17.6x

Weighted Average P/B,

3.0x

2.2x

Weighted Average P/S

-

-

Composition As of 09/30/24

 

Dividend Value

Small-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

Dividend Value

Small-Cap

Financials

35.7

18.0

Industrials

30.7

27.1

Materials

14.6

7.2

Consumer Discretionary

5.4

8.6

Health Care

4.1

8.4

Real Estate

1.6

2.5

Energy

1.6

1.8

Information Technology

0.5

18.8

Consumer Staples

-

1.4

Communication Services

-

2.5

Utilities

-

-

Cash and Cash Equivalents

5.8

3.7

Portfolio Overlap

Dividend Value

Small-Cap

Dividend Value

-

14%

Small-Cap

14%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Small-CapPremierSmall-Cap Total Return PremierSmall-Cap Total ReturnSmall-Cap Opportunity

Least Portfolio Overlap - U.S. Equity Funds

 Micro-CapCapital Micro-CapCapital Small-Cap Small-Cap Special EquitySmaller-Companies GrowthMicro-Cap

Risk As of 09/30/24

 

Dividend Value

Small-Cap

Five-Year Up/Down Capture Ratio

↑ 105   ↓ 102

↑ 103   ↓ 91

Beta

N/A

N/A

Standard Deviation

20.74

20.66

Sharpe Ratio

0.38

0.24

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
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 - - - -
Small-Cap PENNX 4.38 9.04 23.07 7.02 11.64 9.60 14.69 10/31/72 0.94 0.94
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 NOV YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Dividend Value RDVIX 7.29 26.04 37.24 11.96 11.73 9.52 9.49 05/03/04 1.27 1.09
Russell 2500 Index - 9.84 21.12 34.10 6.24 10.95 9.85 - - - -
Russell 2000 Index - 10.97 21.58 36.43 4.96 9.90 9.05 - - - -
Small-Cap PENNX 8.74 15.25 27.24 8.34 11.60 9.76 14.86 10/31/72 0.94 0.94
Russell 2000 Index - 10.97 21.58 36.43 4.96 9.90 9.05 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER DEC QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Dividend Value RDVIX -0.13 7.60 34.65 11.43 11.86 9.57 9.48 05/03/04 1.27 1.09
Russell 2500 Index - -0.17 8.63 30.27 6.05 11.14 9.91 - - - -
Russell 2000 Index - -0.01 9.35 32.49 4.84 10.12 9.10 - - - -
Small-Cap PENNX 0.38 6.09 25.14 8.08 11.95 9.85 14.97 10/31/72 0.94 0.94
Russell 2000 Index - -0.01 9.35 32.49 4.84 10.12 9.10 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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