Compare the Royce Funds
This page not available on mobile browsers.

At a Glance
As of 12/31/18

PremierRemove

OpportunityRemove

Add Another Fund


Style

Core

Value

Market Cap

Small-Cap

Small-Cap

Volatility

Below Average

High

Status

Open to new investors
Invest With Us

Open to new investors
Invest With Us

Why invest?

  • Small-cap core fund that invests primarily in what Royce believes are "premier" small-cap companies (generally market caps up to $3 billion at the time of investment) with discernible competitive advantages, high returns on capital, and a sustainable, moat-like franchise
  • Focuses on leading quality companies, those with low debt, the ability to generate excess cash flow, and attractive prospects that are selling at prices Royce believes do not fully reflect these attributes
  • Outperformed its benchmark, the Russell 2000 Index, for the 1-, 3-, 15-, 20-, 25-year, and since inception (12/31/91) periods ended 12/31/18
  • Small-cap value fund (generally market caps up to $3 billion) that uses an opportunistic approach to invest in companies with low P/B and P/S ratios; companies are categorized into one of four themes: Turnarounds, Unrecognized Asset Values, Undervalued Growth, and Interrupted Earnings
  • Identifies a catalyst for future earnings growth in the form of new management, more favorable business cycle, product innovation, and/or margin improvement
  • Outperformed its benchmark, the Russell 2000 Index, for the 3-, 10-, 20-year, and since inception (11/19/96) periods ended 12/31/18

Inception Date

12/31/91
11/19/96

Portfolio Managers

Lauren Romeo, Chuck Royce, Steven McBoyle

Rob Kosowsky, Bill Hench, Suzanne Franks

Portfolio Diagnostics As of 12/31/18

 

Premier

Opportunity

Total Net Assets

1.67B

869.2M

Holdings

56

273

Average Market Cap

2.93B

726.8M

Active Share

97%

91%

2018
Portfolio Turnover

23%

47%

Weighted Average P/E,

16.2x

-

Weighted Average P/B

2.3x

1.3x

Weighted Average P/S

-

0.8x

Composition As of 12/31/18

 

Premier

Opportunity

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

Premier

Opportunity

Industrials

34.6

25.5

Information Technology

18.0

24.1

Financials

15.2

7.8

Consumer Discretionary

9.8

11.8

Materials

8.9

8.1

Health Care

4.1

7.3

Energy

3.6

7.5

Consumer Staples

2.8

1.8

Real Estate

1.5

0.3

Utilities

-

0.3

Communication Services

-

1.1

Cash and Cash Equivalents

1.7

4.7

Portfolio Overlap

Premier

Opportunity

Premier

-

2%

Opportunity

2%

-

Greatest Portfolio Overlap - U.S. Equity Funds

Small/Mid-Cap PremierPennsylvania MutualSmall-Cap Leaders Micro-Cap OpportunityLow-Priced StockCapital Micro-Cap

Least Portfolio Overlap - U.S. Equity Funds

Special EquityMicro-Cap OpportunityOpportunity Special Equity Multi-CapPremierTotal Return

Risk As of 12/31/18

 

Premier

Opportunity

Five-Year Up/Down Capture Ratio

84   81

95   121

Beta

N/A

N/A

Standard Deviation

14.60

17.96

Sharpe Ratio

0.71

0.47

Volatility

Performance As of 12/31/18

Cumulative Returns

Cumulative Performance since fund start date of to quarter-end 12/31/18

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
Premier RYPRX -17.23 -10.40 -10.40 10.91 4.03 11.23 11.02 12/31/91 1.16 1.16
Russell 2000 Index - -20.20 -11.01 -11.01 7.36 4.41 11.97 - - - -
Opportunity RYPNX -24.05 -19.97 -19.97 8.20 1.73 13.73 10.98 11/19/96 1.18 1.18
Russell 2000 Index - -20.20 -11.01 -11.01 7.36 4.41 11.97 - - - -
Russell 2000 Value Index - -18.67 -12.86 -12.86 7.37 3.61 10.40 - - - -
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
Premier RYPRX -11.36 -10.40 -10.40 10.91 4.03 11.23 11.02 12/31/91 1.16 1.16
Russell 2000 Index - -11.88 -11.01 -11.01 7.36 4.41 11.97 - - - -
Opportunity RYPNX -13.60 -19.97 -19.97 8.20 1.73 13.73 10.98 11/19/96 1.18 1.18
Russell 2000 Index - -11.88 -11.01 -11.01 7.36 4.41 11.97 - - - -
Russell 2000 Value Index - -12.09 -12.86 -12.86 7.37 3.61 10.40 - - - -
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
Premier RYPRX 6.20 6.20 -8.75 17.14 5.35 12.51 11.25 12/31/91 1.16 1.16
Russell 2000 Index - 7.91 7.91 -6.29 14.59 5.83 13.60 - - - -
Opportunity RYPNX 10.28 10.28 -14.38 16.62 3.54 15.48 11.45 11/19/96 1.18 1.18
Russell 2000 Index - 7.91 7.91 -6.29 14.59 5.83 13.60 - - - -
Russell 2000 Value Index - 7.88 7.88 -8.13 14.24 5.28 12.19 - - - -

Important Disclosure Information for Open-End Funds and Annuity Portfolios

More Tools

Share:

Subscribe:

Sign Up

Follow: