Compare the Royce Funds
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At a Glance
As of 09/30/18

Smaller-Companies GrowthRemove

Micro-CapRemove

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Style

Growth

Core

Market Cap

Small-Cap

Micro-Cap

Volatility

Above Average

Average

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?

  • Small/mid-cap growth fund (generally market caps up to $7.5 billion) that invests in companies with superior revenue and/or earnings growth selling at prices that Royce believes do not fully reflect their prospects
  • Seeks companies that look poised for multi-year periods of robust growth driven by sustainable competitive advantages and/or benefiting from secular growth themes that create favorable conditions for the business
  • Average annual total return of 12.1% since inception (6/14/01) through 9/30/18
  • One of the oldest open-end funds dedicated to investing in micro-cap stocks (generally market caps up to $1 billion)
  • 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
  • Approach emphasizes the intersection of valuation with fundamental strength and/or excellent growth or turnaround potential

Inception Date

06/14/01
12/31/91

Portfolio Managers

Chip Skinner

Brendan Hartman, Jim Stoeffel

Portfolio Diagnostics As of 09/30/18

 

Smaller-Companies Growth

Micro-Cap

Total Net Assets

370.3M

191.2M

Holdings

124

151

Average Market Cap

1.36B

494.0M

Active Share

94%

90%

2017
Portfolio Turnover

64%

26%

Weighted Average P/E,

-

19.6x

Weighted Average P/B

3.1x

2.1x

Weighted Average P/S

-

-

Composition As of 09/30/18

 

Smaller-Companies Growth

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

Smaller-Companies Growth

Micro-Cap

Information Technology

29.1

19.7

Health Care

17.0

11.8

Industrials

15.4

20.6

Financials

12.2

15.2

Consumer Discretionary

10.9

14.4

Materials

4.0

3.6

Energy

2.9

5.7

Real Estate

2.1

2.2

Consumer Staples

1.8

2.2

Communication Services

1.2

1.5

Utilities

-

-

Cash and Cash Equivalents

3.5

3.0

Portfolio Overlap

Smaller-Companies Growth

Micro-Cap

Smaller-Companies Growth

-

15%

Micro-Cap

15%

-

Greatest Portfolio Overlap - U.S. Equity Funds

Capital Micro-CapMicro-CapLow-Priced Stock Capital Micro-CapLow-Priced StockPennsylvania Mutual

Least Portfolio Overlap - U.S. Equity Funds

Special EquitySpecial Equity Multi-CapSmall-Cap Value Special Equity Multi-CapSmall/Mid-Cap PremierDividend Value

Risk As of 09/30/18

 

Smaller-Companies Growth

Micro-Cap

Five-Year Up/Down Capture Ratio

99   102

63   89

Beta

N/A

N/A

Standard Deviation

13.65

13.06

Sharpe Ratio

1.05

1.02

Volatility

Performance As of 09/30/18

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 09/30/18

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
Smaller-Companies Growth RVPHX 5.38 16.56 18.37 15.30 10.82 9.99 12.08 06/14/01 1.19 1.19
Russell 2000 Index - 3.58 11.51 15.24 17.12 11.07 11.11 - - - -
Micro-Cap RYOTX 2.73 13.23 11.78 14.22 4.91 7.22 11.02 12/31/91 1.60 1.58
Russell Microcap Index - 0.83 11.64 13.65 16.41 10.51 10.82 - - - -
Russell 2000 Index - 3.58 11.51 15.24 17.12 11.07 11.11 - - - -
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
Smaller-Companies Growth RVPHX -11.70 2.93 2.79 9.71 7.77 11.58 11.22 06/14/01 1.19 1.19
Russell 2000 Index - -10.86 -0.60 1.85 10.68 8.01 12.44 - - - -
Micro-Cap RYOTX -10.17 1.72 1.53 8.16 2.17 8.82 10.54 12/31/91 1.60 1.58
Russell Microcap Index - -10.90 -0.54 1.42 10.08 7.62 12.09 - - - -
Russell 2000 Index - -10.86 -0.60 1.85 10.68 8.01 12.44 - - - -
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
Smaller-Companies Growth RVPHX -1.96 -13.42 4.40 9.40 6.88 12.83 11.07 06/14/01 1.19 1.19
Russell 2000 - N/A N/A N/A N/A N/A N/A - - - -
Micro-Cap RYOTX -0.17 -10.32 5.90 8.93 1.93 10.25 10.52 12/31/91 1.60 1.58
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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