Archived Material: Important Performance Information

Archived material may contain dated performance, risk and other information; please view returns as of the most recent quarter end and month end. Due to changing circumstances over time, statements made in archived material may or may not have continued applicability or relevance in today's environment. Any thoughts concerning market movements and future prospects for small-company stocks are solely those of Royce & Associates, LLC, and, of course, there can be no assurance with regard to future market movements. Small- and micro-cap stocks may involve considerably more risk than larger-cap stocks.

All performance information reflects past performance, is presented on a total return basis and reflects reinvestment of distributions. Current performance may be higher or lower than performance quoted. Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares may be worth more or less than their original cost when redeemed. Please read the fund's prospectus carefully and consider a fund's investment goals, risks, fees and expenses before investing or sending money. The prospectus contains this and other information. The Russell 2000, Russell 2000 Value, Russell 2000 Growth, S&P 500, S&P 600, NASDAQ Composite and DJIA are unmanaged indexes of domestic common stocks. Distributor: Royce Fund Services, Inc.

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    1. Fund Tools
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    2. Relative Risk Spectrum

      This spectrum shows a visual line-up of The Royce Funds based on each Fund's standard deviation for the five years ended 03/31/12. Funds that do not have five years of history are not included here.

      Standard Deviation

      One of the most common ways to measure investment volatility is by using standard deviation, which is a statistical measure within which a fund's total returns have varied over time. The greater the standard deviation, the greater a fund's volatility.

      It helps to understand that a hypothetical CD returning 4% every year for five years, has a 5-year standard deviation of 0. By contrast, the Russell 2000 Index has a standard deviation of 24.68 for the five years ended 03/31/12.

      Lower standard deviation generally means lower volatility; Higher standard deviation generally means higher volatility.

      Please Note

      This spectrum is for illustrative purposes only, and should not be used to measure any of The Royce Funds against other mutual funds or types of investments. It should also not be used to predict the future volatility or performance of any of The Royce Funds. A Fund's position along this spectrum may change as market and economic conditions change. The Royce Funds invest primarily in securities of micro-cap, small-cap and/or mid-cap stocks, which may involve considerably more risk than investments in securities of larger-cap companies (see "Primary Risks for Fund Investors" in the respective prospectus). Royce 100 Fund, Royce Dividend Value Fund, Royce Global Select Fund, Royce Premier Fund, Royce Select Fund I, Royce Select Fund II, Royce Special Equity Fund and Royce Value Fund invest primarily in a limited number of stocks, which may involve considerably more risk than a less concentrated portfolio because a decline in the value of any one of these stocks would cause the Fund's overall value to decline to a greater degree. (Please see “Primary Risks for Fund Investors” in the prospectus). Royce 100 Fund, Royce Dividend Value Fund, Royce Heritage Fund, Royce Low-Priced Stock Fund, Royce Micro-Cap Fund, Royce Pennsylvania Mutual Fund, Royce Premier Fund, Royce Special Equity Fund, Royce Total Return Fund, Royce Value Fund and Royce Value Plus Fund may invest up to 25% of its net assets in foreign securities, which may involve political, economic, currency and other risks not encountered in U.S. investments (Please see “Investing in Foreign Securities” in the prospectus). Royce Financial Services Fund, Royce Global Select Fund, Royce European Smaller-Companies Fund and Royce Global Value Fund may invest up to 35% of its net assets in foreign securities, which may involve political, economic, currency and other risks not encountered in U.S. investments (Please see “Investing in International Securities” in the prospectus). Also note that Royce Financial Services Fund invests primarily in equity securities in the financial services sector. The Fund is not a complete investment program. It is designed for long-term investors who can accept the risks of investing in a fund with common stock holdings primarily in smaller-cap financial services companies. Therefore, the Fund is subject to certain risks associated with the industry, including, among other things, changes in government regulations, interest rate levels and general economic conditions. Please read the prospectus carefully before investing.

  • © Royce & Associates, LLC, 745 Fifth Avenue, New York, NY 10151, (800) 221-4268. All rights reserved. Distributor of The Royce Fund and Royce Capital Fund: Royce Fund Services, Inc., a wholly owned subsidiary of Royce & Associates. The Royce Funds are offered and sold only to persons residing in the United States and are offered by prospectus only. The prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. View our Policies & Procedures, including, among others, our Sarbanes-Oxley Code of Ethics, Privacy Policy and Proxy Voting Guidelines and Procedures.