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At a Glance
As of 12/31/16

Total ReturnRemove

Dividend ValueRemove

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Style

Value

Value

Market Cap

Small-Cap

Small/Mid-Cap

Volatility

Low

Below Average

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?

  • Small-cap value fund (generally market caps up to $3 billion) that invests primarily in dividend-paying companies with high returns on invested capital and strong fundamentals
  • Focuses on quality businesses with the ability to generate excess cash flow and attractive prospects that are selling at prices Royce believes do not fully reflect these attributes
  • Has a long-term history of low volatility and better risk-adjusted returns than its benchmark, the Russell 2000 Index
  • 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
  • Has a long history of lower volatility and better risk-adjusted returns than its benchmark, the Russell 2000 Index

Inception Date

12/15/93
05/03/04

Portfolio Managers

Jay Kaplan, Chuck Royce

Jay Kaplan, Chuck Royce

Portfolio Diagnostics As of 12/31/16

 

Total Return

Dividend Value

Total Net Assets

2.84B

217.4M

Holdings

288

137

Average Market Cap

2.11B

3.41B

Active Share

90%

97%

2016
Portfolio Turnover

16%

21%

Weighted Average P/E,

20.0x

21.0x

Weighted Average P/B

2.2x

2.5x

Weighted Average P/S

-

-

Composition As of 12/31/16

 

Total Return

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

Total Return

Dividend Value

Financials

26.2

30.8

Industrials

25.3

25.7

Consumer Discretionary

13.0

10.7

Materials

12.5

11.6

Information Technology

6.6

8.1

Health Care

4.8

3.5

Consumer Staples

3.7

2.5

Energy

3.2

2.4

Utilities

2.0

1.5

Telecommunication Services

1.1

1.7

Real Estate

0.4

0.2

Bonds & Preferreds

0.1

0.2

Cash and Cash Equivalents

1.1

1.2

Portfolio Overlap

Total Return

Dividend Value

Total Return

-

36%

Dividend Value

36%

-

Greatest Portfolio Overlap - U.S. Equity Funds

Pennsylvania MutualDividend ValueCapital Small-Cap Total ReturnPennsylvania MutualCapital Small-Cap

Least Portfolio Overlap - U.S. Equity Funds

Micro-Cap OpportunitySpecial Equity Multi-CapOpportunity Micro-Cap OpportunitySpecial EquityOpportunity

Risk As of 12/31/16

 

Total Return

Dividend Value

Five-Year Up/Down Capture Ratio

80   64

76   79

Beta

N/A

N/A

Standard Deviation

13.25

12.81

Sharpe Ratio

0.48

0.26

Volatility

Performance As of 12/31/16

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 12/31/16

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
Total Return RYTRX 9.45 25.86 25.86 5.78 12.45 6.86 10.93 12/15/93 1.22 1.22
Russell 2000 Index - 8.83 21.31 21.31 6.74 14.46 7.07 - - - -
Dividend Value RDVIX 6.86 16.75 16.75 2.65 10.73 7.02 8.66 05/03/04 1.14 1.14
Russell 2000 Index - 8.83 21.31 21.31 6.74 14.46 7.07 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER JAN YTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.
DATE GROSS NET
Total Return RYTRX 0.44 0.44 31.95 7.41 11.53 6.67 10.91 12/15/93 1.22 1.22
Russell 2000 Index - 0.39 0.39 33.53 7.89 13.00 6.93 - - - -
Dividend Value RDVIX 1.67 1.67 25.87 4.82 9.58 6.97 8.75 05/03/04 1.14 1.14
Russell 2000 Index - 0.39 0.39 33.53 7.89 13.00 6.93 - - - -
Average Annual Total Returns (%) , Annual Operating
Expenses (%)
FUND NAME TICKER FEB QTD 1 YR 3 YR 5 YR 10 YR SINCE
INCEPT.
DATE GROSS NET
Total Return RYTRX 1.89 2.34 34.33 7.55 11.04 6.66 10.98 12/15/93 1.22 1.22
Russell 2000 Index - 2.86 3.27 40.52 8.31 12.62 6.99 - - - -
Dividend Value RDVIX 2.74 4.46 28.72 4.95 9.35 7.12 8.94 05/03/04 1.14 1.14
Russell 2000 Index - 2.86 3.27 40.52 8.31 12.62 6.99 - - - -

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