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RYOTX Royce Micro-Cap Invmt

  • Fund
  • RYOTX
  • Price as of: Jan 19, 2018
  • $12.08
  • + $0.14
  • + 1.17%
  • Category
  • Micro Cap Equities

RYOTX - Profile

Vitals

  • YTD Return 3.8%
  • 3 Yr Annualized Return 3.0%
  • 5 Yr Annualized Return 4.9%
  • Net Assets $206 M
  • Holdings in Top 10 9.4%

52 WEEK LOW AND HIGH

$12.08
$11.42
$12.90

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.48%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 38.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$2,000

IRA

$1,000

Investment Themes

CATEGORY

Micro Cap Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Small Blend

Distributions

  • YTD Total Return 3.8%
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return 4.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.03%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Royce Micro Cap Series Fund
  • Fund Family Name Royce
  • Inception Date Dec 31, 1991
  • Shares Outstanding N/A
  • Share Class Inv
  • Currency USD
  • Domiciled Country United States
  • Manager Brendan J. Hartman

Fund Description

The fund invests the fund's assets primarily in equity securities of micro-cap companies with stock market capitalizations up to $1 billion. Normally, the fund invests at least 80% of its net assets in equity securities of companies with market caps up to $1 billion. Although the fund normally 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.

RYOTX - Performance

Return Ranking - Trailing

Period RYOTX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.8% -13.2% 10.3% 52.54% 3
1 Yr 5.4% -13.9% 38.4% 85.00% 5
3 Yr 3.0% * -1.9% 19.2% 85.19% 5
5 Yr 4.9% * 3.8% 21.2% 94.12% 5
10 Yr 3.7% * 1.8% 10.8% 83.87% 5

* Annualized


Return Ranking - Calendar

Period RYOTX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -2.3% -17.6% 28.9% 70.69% 4
2016 7.5% -22.1% 33.0% 66.07% 4
2015 -23.4% -30.4% 3.3% 92.59% 5
2014 -13.2% -24.9% 28.6% 82.35% 5
2013 12.9% 1.8% 64.7% 86.96% 5

Total Return Ranking - Trailing

Period RYOTX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 3.8% -13.2% 10.3% 52.54% 3
1 Yr 5.4% -10.9% 38.4% 75.00% 4
3 Yr 3.0% * 0.5% 19.2% 81.48% 4
5 Yr 4.9% * 3.9% 21.2% 96.08% 5
10 Yr 3.7% * 1.8% 10.8% 87.10% 5

* Annualized


Total Return Ranking - Calendar

Period RYOTX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -2.3% -17.6% 28.9% 70.69% 4
2016 7.5% -10.7% 33.0% 66.07% 4
2015 -14.9% -16.2% 8.2% 94.44% 5
2014 -5.3% -8.6% 47.2% 84.31% 5
2013 29.2% 1.8% 386.6% 89.13% 5

NAV & Total Return History

RYOTX - Holdings

Filings data as of: Sep 30, 2017

Concentration Analysis

RYOTX Category Low Category High RYOTX % Rank Quintile
Net Assets 206 M 3.66 M 6.38 B 9.84% 1
Number of Holdings 144 38 1562 8.20% 1
Net Assets in Top 10 20.9 M 405 K 250 M 24.59% 2
Weighting of Top 10 9.4% 3.8% 43.5% 57.38% 5

Top 10 Holdings

  1. Zealand Pharma AS 0.94%
  2. Cryolife Inc 1.01%
  3. QAD Inc 0.96%
  4. Ultra Clean Holdings Inc 1.03%
  5. Kadant Inc 0.97%
  6. Vishay Precision Group Inc 0.91%
  7. Sun Hydraulics Corp 0.90%
  8. ePlus Inc 0.90%
  9. Viad Corp 0.90%
  10. Newpark Resources Inc 0.90%

Asset Allocation

Weighting Category Low Category High RYOTX % Rank Quintile
Stocks
91.14% 74.74% 100.00% 50.82% 5
Other
4.66% 0.00% 5.38% 4.92% 1
Cash
4.20% 0.00% 21.82% 22.95% 2
Preferred Stocks
0.00% 0.00% 3.48% 9.84% 2
Convertible Bonds
0.00% 0.00% 0.02% 3.28% 1
Bonds
0.00% -0.08% 3.42% 4.92% 2

Stock Sector Breakdown

Weighting Category Low Category High RYOTX % Rank Quintile
Technology
21.07% 6.04% 51.27% 22.95% 3
Industrials
19.64% 5.67% 28.87% 13.11% 1
Financial Services
14.05% 0.00% 34.45% 29.51% 3
Consumer Cyclical
12.41% 5.54% 42.26% 47.54% 4
Healthcare
8.50% 1.26% 30.21% 37.70% 4
Energy
4.96% 0.00% 10.66% 13.11% 2
Basic Materials
4.73% 0.00% 11.31% 21.31% 2
Consumer Defense
2.85% 0.00% 9.92% 29.51% 2
Real Estate
1.89% 0.00% 8.78% 29.51% 3
Communication Services
0.65% 0.00% 6.32% 32.79% 3
Utilities
0.00% 0.00% 6.35% 18.03% 2

Stock Geographic Breakdown

Weighting Category Low Category High RYOTX % Rank Quintile
US
80.85% 65.52% 99.11% 54.10% 5
Non US
10.29% 0.00% 23.41% 4.92% 1

RYOTX - Expenses

Operational Fees

RYOTX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.48% 0.52% 6.72% 63.93% 2
Management Fee 1.25% 0.50% 1.50% 4.92% 4
12b-1 Fee 0.00% 0.00% 1.00% 15.79% 1
Administrative Fee N/A 0.01% 0.40% N/A N/A

Sales Fees

RYOTX Fees (% of AUM) Category Low Category High RYOTX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

RYOTX Fees (% of AUM) Category Low Category High RYOTX Rank Quintile
Max Redemption Fee 1.00% 1.00% 2.00% 6.25% 1

Turnover 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 Low Category High RYOTX Rank Quintile
Turnover 38.00% 8.82% 180.00% 32.76% 3

RYOTX - Distributions

Dividend Yield Analysis

RYOTX Category Low Category High RYOTX % Rank Quintile
Dividend Yield 0.0% 0.01% 0.63% 73.08% 4

Dividend Distribution Analysis

RYOTX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

RYOTX Category Low Category High RYOTX % Rank Quintile
Net Income Ratio 0.03% -2.70% 0.75% 16.39% 1

Capital Gain Distribution Analysis

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

RYOTX - Managers

Brendan J. Hartman

Manager

Start Date

May 01, 2013

Tenure

4.67

Tenure Rank

24.5%

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 P. Stoeffel

Lead Manager

Start Date

May 01, 2015

Tenure

2.67

Tenure Rank

34.0%

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

0.1

Category High

23.5

Category Average

6.22

Category Mode

3.0