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Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Royce Micro-Cap Fund

RYOTX | Fund

$11.18

$287 M

0.00%

$0.00

1.24%

Vitals

YTD Return

1.6%

1 yr return

21.5%

3 Yr Avg Return

1.6%

5 Yr Avg Return

11.3%

Net Assets

$287 M

Holdings in Top 10

14.4%

52 WEEK LOW AND HIGH

$11.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.24%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 26.00%

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$2,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Royce Micro-Cap Fund

RYOTX | Fund

$11.18

$287 M

0.00%

$0.00

1.24%

RYOTX - Profile

Distributions

  • YTD Total Return 1.6%
  • 3 Yr Annualized Total Return 1.6%
  • 5 Yr Annualized Total Return 11.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.43%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Royce Micro-Cap Fund
  • Fund Family Name
    Royce
  • Inception Date
    Jan 03, 1994
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brendan Hartman

Fund Description

Royce Investment Partners (“Royce”), the Fund’s investment adviser, invests the Fund’s assets primarily in equity securities of micro-cap companies. Micro-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell Microcap® Index at the time of its most recent reconstitution. Royce uses 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. Royce considers companies with strong balance sheets, attractive growth prospects, and/or the potential for improvement in cash flow levels and internal rates of return, among other factors.

The Fund invests at least 80% of its net assets in equity securities of micro-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Fund’s portfolio.

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RYOTX - Performance

Return Ranking - Trailing

Period RYOTX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -5.1% 23.8% 69.73%
1 Yr 21.5% -12.5% 56.1% 32.61%
3 Yr 1.6%* -8.5% 41.4% 54.96%
5 Yr 11.3%* -13.7% 32.2% 11.39%
10 Yr 6.1%* -3.0% 17.2% 80.69%

* Annualized

Return Ranking - Calendar

Period RYOTX Return Category Return Low Category Return High Rank in Category (%)
2023 11.3% -49.6% 29.0% 63.20%
2022 -26.3% -59.3% 118.2% 83.96%
2021 5.3% -31.6% 39.3% 67.22%
2020 15.6% -51.0% 39.5% 25.56%
2019 17.9% -16.9% 37.8% 68.24%

Total Return Ranking - Trailing

Period RYOTX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -5.1% 23.8% 69.73%
1 Yr 21.5% -12.5% 56.1% 32.61%
3 Yr 1.6%* -8.5% 41.4% 54.96%
5 Yr 11.3%* -13.7% 32.2% 11.39%
10 Yr 6.1%* -3.0% 17.2% 80.69%

* Annualized

Total Return Ranking - Calendar

Period RYOTX Return Category Return Low Category Return High Rank in Category (%)
2023 19.3% -21.7% 31.8% 17.06%
2022 -22.6% -45.2% 123.7% 94.41%
2021 31.0% 0.0% 47.7% 9.34%
2020 24.5% -50.5% 46.9% 4.32%
2019 21.2% -12.6% 43.7% 85.29%

NAV & Total Return History


RYOTX - Holdings

Concentration Analysis

RYOTX Category Low Category High RYOTX % Rank
Net Assets 287 M 480 K 118 B 58.07%
Number of Holdings 127 2 2519 57.19%
Net Assets in Top 10 45 M 104 K 9.83 B 62.11%
Weighting of Top 10 14.40% -2849.0% 100.5% 62.50%

Top 10 Holdings

  1. FIXED INC CLEARING CORP.REPO 2.36%
  2. Photronics Inc 1.49%
  3. Hovnanian Enterprises Inc 1.48%
  4. Modine Manufacturing Co 1.41%
  5. Applied Optoelectronics Inc 1.31%
  6. Natural Gas Services Group Inc 1.30%
  7. Customers Bancorp Inc 1.27%
  8. Graham Corp 1.27%
  9. Universal Stainless Alloy Products Inc 1.27%
  10. Camtek Ltd/Israel 1.26%

Asset Allocation

Weighting Return Low Return High RYOTX % Rank
Stocks
97.82% -565235.00% 107.11% 59.82%
Other
2.36% -598.74% 82.28% 10.70%
Cash
0.66% 0.00% 565934.00% 79.82%
Preferred Stocks
0.00% 0.00% 7.53% 29.65%
Convertible Bonds
0.00% 0.00% 3.17% 27.94%
Bonds
0.00% -2.00% 74.53% 32.11%

Stock Sector Breakdown

Weighting Return Low Return High RYOTX % Rank
Industrials
27.64% 2.46% 37.42% 7.27%
Technology
23.94% 0.00% 54.70% 3.55%
Financial Services
14.42% 0.00% 35.52% 71.63%
Consumer Cyclical
11.40% 0.99% 47.79% 50.53%
Healthcare
11.28% 0.00% 26.53% 68.44%
Communication Services
4.07% 0.00% 14.85% 17.38%
Basic Materials
3.49% 0.00% 18.66% 79.79%
Energy
2.56% 0.00% 37.72% 82.09%
Consumer Defense
0.71% 0.00% 18.87% 97.52%
Real Estate
0.49% 0.00% 29.43% 95.57%
Utilities
0.00% 0.00% 18.58% 92.02%

Stock Geographic Breakdown

Weighting Return Low Return High RYOTX % Rank
US
91.78% -565235.00% 107.11% 93.68%
Non US
6.04% 0.00% 94.14% 2.63%

RYOTX - Expenses

Operational Fees

RYOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.24% 0.01% 38.45% 34.92%
Management Fee 1.00% 0.00% 1.50% 93.31%
12b-1 Fee 0.00% 0.00% 1.00% 5.70%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

RYOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

RYOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 84.91%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RYOTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 26.00% 1.00% 314.00% 25.26%

RYOTX - Distributions

Dividend Yield Analysis

RYOTX Category Low Category High RYOTX % Rank
Dividend Yield 0.00% 0.00% 42.10% 86.14%

Dividend Distribution Analysis

RYOTX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Annual Annual

Net Income Ratio Analysis

RYOTX Category Low Category High RYOTX % Rank
Net Income Ratio -0.43% -2.40% 2.49% 84.93%

Capital Gain Distribution Analysis

RYOTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Distributions History

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RYOTX - Fund Manager Analysis

Managers

Brendan Hartman


Start Date

Tenure

Tenure Rank

May 01, 2013

9.09

9.1%

Brendan Hartman joined Royce in 2009 as a Portfolio Manager. Previously he was a Portfolio Manager for a long/short equity private investment vehicle which he co-founded with Messrs. Brown and Stoeffel (2008-2009), a Portfolio Manager at CRM (2003-2008), an Analyst at CRM (2001-2003), a Senior Research Analyst at Donaldson, Lufkin & Jenrette (1997-2001) and a Research Analyst at Salomon Brothers (1996-1997).

James Stoeffel


Start Date

Tenure

Tenure Rank

May 01, 2015

7.09

7.1%

James Stoeffel joined Royce in 2009 as a Portfolio Manager. Previously he was a Portfolio Manager for a long/short equity private investment vehicle which he co-founded with Messrs. Brown and Hartman (2008-2009), a Portfolio Manager and Investment Policy Committee member at CRM (2001-2008), Director of Research at Palisade Capital Management (1999-2001), Research Analyst and Vice President in Smith Barney's Emerging Growth Stock Research Group (1993-1999) and an Auditor for a number of companies in the financial services industry (1984-1992).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 49.61 7.05 2.58