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

Capital Micro-CapRemove

Small-CapRemove

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Style

Core

Core

Market Cap

Micro-Cap

Small-Cap

Volatility

High

Below Average

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?
  • One of the only variable annuity products dedicated to investing in micro-cap stocks, which Royce defines as companies with market caps no higher than the largest company 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.
  • Average annual total return of 9.6% since inception (12/27/96) 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
12/27/96
N/A

Portfolio Managers

Jim Stoeffel, Andrew Palen

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

Portfolio Diagnostics As of 09/30/24

 

Capital Micro-Cap

Small-Cap

Total Net Assets

134.4M

1.97B

Holdings

127

286

Average Market Cap

619.7M

3.59B

Active Share

89%

88%
2023
Portfolio Turnover

24%

40%

Weighted Average P/E,

-

17.6x

Weighted Average P/B,

1.7x

2.2x

Weighted Average P/S

-

-

Composition As of 09/30/24

 

Capital Micro-Cap

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

Capital Micro-Cap

Small-Cap

Industrials

25.9

27.1

Information Technology

23.8

18.8

Financials

12.8

18.0

Consumer Discretionary

12.5

8.6

Health Care

9.7

8.4

Communication Services

5.0

2.5

Energy

3.8

1.8

Materials

3.5

7.2

Consumer Staples

0.7

1.4

Real Estate

0.5

2.5

Utilities

-

-

Cash and Cash Equivalents

1.6

3.7

Portfolio Overlap

Capital Micro-Cap

Small-Cap

Capital Micro-Cap

-

13%

Small-Cap

13%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Micro-CapSmall-Cap OpportunitySmall-Cap PremierSmall-Cap Total ReturnSmall-Cap Opportunity

Least Portfolio Overlap - U.S. Equity Funds

 PremierSmall-Cap Special EquitySmall-Cap Total Return Small-Cap Special EquitySmaller-Companies GrowthMicro-Cap

Risk As of 09/30/24

 

Capital Micro-Cap

Small-Cap

Five-Year Up/Down Capture Ratio

↑ 99   ↓ 81

↑ 103   ↓ 91

Beta

N/A

N/A

Standard Deviation

23.62

20.66

Sharpe Ratio

0.04

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
Capital Micro-Cap RCMCX 5.19 8.29 21.69 2.08 12.13 7.32 9.62 12/27/96 1.18 1.18
Russell Microcap Index - 8.29 7.38 24.63 -3.74 8.45 7.29 - - - -
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 OCT YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Capital Micro-Cap RCMCX -2.82 5.23 27.81 -0.64 10.82 6.52 9.48 12/27/96 1.18 1.18
Russell Microcap Index - 0.68 8.11 35.24 -4.22 8.05 6.72 - - - -
Russell 2000 Index - -1.44 9.56 34.07 -0.05 8.50 7.94 - - - -
Small-Cap PENNX -2.80 5.99 27.38 4.48 10.48 8.79 14.33 10/31/72 0.94 0.94
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
Capital Micro-Cap RCMCX 12.23 9.06 32.40 1.69 13.09 7.89 9.91 12/27/96 1.18 1.18
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 - - - -
Small-Cap PENNX 8.12 5.09 26.96 6.01 11.85 9.60 14.81 10/31/72 0.94 0.94
Russell 2000 - 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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