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

SMid-Cap Total ReturnRemove

Micro-CapRemove

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Style

Value

Core

Market Cap

SMid-Cap

Micro-Cap

Volatility

Below Average

High

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • SMid-Cap fund that invests primarily in capital-returning stocks with solid fundamentals. SMid-cap stocks' market caps are not greater than that of 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 9.2% since inception (5/3/04) through 9/30/26.
  • One of the oldest open-end funds 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-, 20-, 25-year and since inception (6/30/00) periods ended 9/30/26.

Inception Date
05/03/04
12/31/91

Portfolio Managers

Miles Lewis, Joseph Hintz, Jag Sriram

Jim Stoeffel, Andrew Palen

Portfolio Diagnostics As of 09/30/26

 

SMid-Cap Total Return

Micro-Cap

Total Net Assets

32.3M

392.4M

Holdings

53

158

Average Market Cap

5.45B

888.1M

Active Share

97%

89%
2025
Portfolio Turnover

47%

38%

Weighted Average P/E,

12.5x

-

Weighted Average P/B,

2.2x

2.1x

Weighted Average P/S

-

-

Composition As of 09/30/26

 

SMid-Cap Total Return

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

SMid-Cap Total Return

Micro-Cap

Industrials

26.2

22.1

Financials

25.7

12.4

Consumer Discretionary

12.3

12.2

Materials

11.5

4.5

Health Care

7.1

15.3

Information Technology

5.9

21.1

Consumer Staples

5.1

-

Energy

2.1

3.6

Communication Services

0.2

2.7

Real Estate

-

1.0

Utilities

-

-

Cash and Cash Equivalents

3.8

5.1

Portfolio Overlap

SMid-Cap Total Return

Micro-Cap

SMid-Cap Total Return

-

4%

Micro-Cap

4%

-

Greatest Portfolio Overlap - U.S. Equity Funds

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

Least Portfolio Overlap - U.S. Equity Funds

 Capital Small-CapSmall-Cap ValueMicro-Cap Capital Small-CapSmall-Cap ValuePremier

Risk As of 09/30/26

 

SMid-Cap Total Return

Micro-Cap

Five-Year Up/Down Capture Ratio

↑ 104   ↓ 86

↑ 107   ↓ 79

Beta

N/A

N/A

Standard Deviation

16.77

22.99

Sharpe Ratio

0.74

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
SMid-Cap Total Return RDVIX -3.11 11.74 11.57 16.70 9.75 10.34 9.19 05/03/04 1.31 1.09
Russell 2500 Index - -6.37 14.90 17.45 17.74 7.46 10.81 - - - -
Russell 2500 Value Index - -4.36 18.75 22.49 19.12 9.76 10.12 - - - -
Micro-Cap RYOTX -7.28 34.84 37.31 24.98 11.41 12.89 11.33 12/31/91 1.26 1.24
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
SMid-Cap Total Return RDVIX -6.79 11.74 11.57 16.70 9.75 10.34 9.19 05/03/04 1.31 1.09
Russell 2500 Index - -4.95 14.90 17.45 17.74 7.46 10.81 - - - -
Russell 2500 Value Index - -5.37 18.75 22.49 19.12 9.76 10.12 - - - -
Micro-Cap RYOTX -0.40 34.84 37.31 24.98 11.41 12.89 11.33 12/31/91 1.26 1.24
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
SMid-Cap Total Return RDVIX 5.31 5.31 19.63 19.54 10.01 11.18 9.42 05/03/04 1.31 1.09
Russell 2500 Value - 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 - - - -
Micro-Cap RYOTX -2.68 -2.68 29.96 25.56 10.21 12.89 11.23 12/31/91 1.26 1.24
Russell 2000 - N/A N/A N/A N/A N/A N/A - - - -
Russell Microcap - 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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