Compare Funds | Royce
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At a Glance
As of 12/31/24

Capital Micro-CapRemove

Dividend ValueRemove

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Style

Core

Value

Market Cap

Micro-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?
  • 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 9.7% since inception (12/27/96) through 12/31/24.
  • 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 12/31/24.

Inception Date
12/27/96
05/03/04

Portfolio Managers

Jim Stoeffel, Andrew Palen

Miles Lewis, Joseph Hintz, Jag Sriram

Portfolio Diagnostics As of 12/31/24

 

Capital Micro-Cap

Dividend Value

Total Net Assets

136.7M

70.3M

Holdings

140

46

Average Market Cap

615.3M

5.04B

Active Share

89%

97%
2024
Portfolio Turnover

19%

62%

Weighted Average P/E,

-

13.9x

Weighted Average P/B,

1.8x

2.0x

Weighted Average P/S

-

-

Composition As of 12/31/24

 

Capital Micro-Cap

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

Capital Micro-Cap

Dividend Value

Information Technology

24.2

11.8

Industrials

23.7

17.0

Financials

13.9

29.5

Consumer Discretionary

12.0

12.1

Health Care

9.6

2.4

Communication Services

5.4

-

Energy

4.2

3.8

Materials

2.9

9.7

Consumer Staples

0.9

-

Real Estate

0.5

0.5

Utilities

-

-

Cash and Cash Equivalents

2.7

13.1

Portfolio Overlap

Capital Micro-Cap

Dividend Value

Capital Micro-Cap

-

4%

Dividend Value

4%

-

Greatest Portfolio Overlap - U.S. Equity Funds

 Micro-CapSmall-Cap OpportunitySmall-Cap Small-Cap Total ReturnSmall-CapSmall-Cap Special Equity

Least Portfolio Overlap - U.S. Equity Funds

 Capital Small-CapPremierDividend Value Capital Small-CapMicro-CapSmall-Cap Value

Risk As of 12/31/24

 

Capital Micro-Cap

Dividend Value

Five-Year Up/Down Capture Ratio

↑ 100   ↓ 81

↑ 106   ↓ 102

Beta

N/A

N/A

Standard Deviation

24.80

20.91

Sharpe Ratio

0.01

0.29

Volatility

Performance As of 12/31/24

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 12/31/24

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 4.97 13.67 13.67 1.55 11.00 7.28 9.72 12/27/96 1.18 1.18
Russell Microcap Index - 5.89 13.70 13.70 -1.00 6.97 6.77 - - - -
Russell 2000 Index - 0.33 11.54 11.54 1.24 7.40 7.82 - - - -
Dividend Value RDVIX 2.66 20.09 20.09 8.57 10.02 9.02 9.20 05/03/04 1.27 1.09
Russell 2500 Index - 0.62 12.00 12.00 2.39 8.77 8.85 - - - -
Russell 2000 Index - 0.33 11.54 11.54 1.24 7.40 7.82 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER DEC YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Capital Micro-Cap RCMCX -4.81 13.67 13.67 1.55 11.00 7.28 9.72 12/27/96 1.18 1.18
Russell Microcap Index - -5.79 13.70 13.70 -1.00 6.97 6.77 - - - -
Russell 2000 Index - -8.26 11.54 11.54 1.24 7.40 7.82 - - - -
Dividend Value RDVIX -4.72 20.09 20.09 8.57 10.02 9.02 9.20 05/03/04 1.27 1.09
Russell 2500 Index - -7.54 12.00 12.00 2.39 8.77 8.85 - - - -
Russell 2000 Index - -8.26 11.54 11.54 1.24 7.40 7.82 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER JAN QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.		 DATE GROSS NET
Capital Micro-Cap RCMCX 1.23 1.23 22.13 3.63 10.93 7.79 9.75 12/27/96 1.18 1.18
Russell Microcap Index - -0.49 -0.49 19.87 0.08 6.60 6.99 - - - -
Russell 2000 Index - 2.08 2.08 20.60 3.21 7.44 8.29 - - - -
Dividend Value RDVIX 1.52 1.52 25.46 9.80 9.97 9.58 9.25 05/03/04 1.27 1.09
Russell 2500 Index - 3.11 3.11 20.68 4.62 8.97 9.39 - - - -
Russell 2000 Index - 2.08 2.08 20.60 3.21 7.44 8.29 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

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