- ISIN
- US7809057091
- CUSIP
- 780905709
- Inception Date
- Dec 31, 1991
- Category
- Small Cap Blend Equities
- Min. Investment
- $2,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
RYOTX Performance Chart
Royce Micro Cap Series Fund (RYOTX) is up 40.8% since the beginning of the year. RYOTX is currently trading at $16 per share. Investors who bought $1,000 worth of RYOTX shares 5 years ago would now be looking at an investment worth $1,808.
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Returns By Period
Royce Micro Cap Series Fund (RYOTX) has returned 40.81% so far this year and 70.37% over the past 12 months. Over the last decade, RYOTX has posted an annualized return of 14.15%, slightly higher than the S&P 500 Index benchmark’s 13.88%.
Royce Micro Cap Series Fund
- 1D
- 2.30%
- 1M
- 7.46%
- YTD
- 40.81%
- 6M
- 37.82%
- 1Y
- 70.37%
- 3Y*
- 25.90%
- 5Y*
- 12.57%
- 10Y*
- 14.15%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
RYOTX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1992, RYOTX's average daily return is +0.05%, while the average monthly return is +1.07%. At this rate, an investment would double in approximately 5.4 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2020 with a return of +22.6%, while the worst month was Mar 2020 at -23.5%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 6 months.
On a daily basis, RYOTX closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +9.2%, while the worst single day was Mar 16, 2020 at -12.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.87% | 6.32% | -5.63% | 15.58% | 6.59% | 4.64% | 40.81% | ||||||
| 2025 | 0.36% | -5.98% | -9.78% | -2.21% | 8.93% | 8.70% | 2.36% | 7.10% | 2.99% | 1.13% | -1.04% | 1.91% | 13.51% |
| 2024 | -4.09% | 6.07% | 2.68% | -7.31% | 8.17% | -2.00% | 9.57% | -2.43% | -1.57% | -2.78% | 13.51% | -4.99% | 13.24% |
| 2023 | 10.63% | -0.46% | -6.89% | -4.94% | 2.18% | 9.86% | 5.18% | -2.55% | -5.60% | -7.27% | 8.14% | 12.56% | 19.51% |
| 2022 | -10.51% | -0.50% | -1.51% | -10.46% | 0.66% | -8.87% | 11.18% | -2.89% | -10.83% | 10.43% | 5.45% | -4.23% | -22.66% |
| 2021 | 4.24% | 12.20% | 0.60% | 3.20% | 1.68% | 1.46% | -0.63% | 1.13% | -2.93% | 5.59% | -1.95% | 3.02% | 30.36% |
Benchmark Metrics
Royce Micro Cap Series Fund has an annualized alpha of 4.77%, beta of 0.80, and R2 of 0.61 versus S&P 500 Index. Calculated based on daily prices since January 02, 1992.
- This fund captured 104.89% of S&P 500 Index gains but only 91.95% of its losses - a favorable profile for investors.
- This fund generated an annualized alpha of 4.77% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 4.77%
- Beta
- 0.80
- R²
- 0.61
- Upside Capture
- 104.89%
- Downside Capture
- 91.95%
Expense Ratio
RYOTX has a high expense ratio of 1.20%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
RYOTX ranks 90 for risk / return — in the top 90% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Royce Micro Cap Series Fund (RYOTX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| RYOTX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.37 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.79 | 2.78 | +3.00 |
| Martin ratioReturn relative to average drawdown | 21.02 | 12.44 | +8.58 |
Dividends
Dividend History
Royce Micro Cap Series Fund provided a 10.61% dividend yield over the last twelve months, with an annual payout of $1.65 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.65 | $1.65 | $1.36 | $0.77 | $0.50 | $3.10 | $0.94 | $0.30 | $1.30 | $0.90 | $1.36 | $1.44 |
Dividend yield | 10.61% | 14.94% | 12.20% | 6.97% | 5.10% | 23.10% | 7.40% | 2.72% | 13.95% | 7.76% | 11.41% | 12.99% |
Monthly Dividends
The table displays the monthly dividend distributions for Royce Micro Cap Series Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.65 | $1.65 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.36 | $1.36 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.77 | $0.77 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.50 | $0.50 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.10 | $3.10 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Royce Micro Cap Series Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Royce Micro Cap Series Fund was 56.86%, occurring on Mar 9, 2009. Recovery took 404 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -56.86%Mar 2009 | 1y 4mo | 1y 7mo | 2y 11moNov 2007 - Oct 2010 |
COVID crash2020 | -44.87%Mar 2020 | 1y 6mo | 7mo 28d | 2y 2moSep 2018 - Nov 2020 |
Bear market2022 | -35.84%Sep 2022 | 10mo 15d | 2y 1mo | 2y 11moNov 2021 - Nov 2024 |
Dot-com crash2000–2002 | -35.47%Oct 2002 | 5mo 20d | 10mo 16d | 1y 4moApr 2002 - Aug 2003 |
1998 bear market1998 | -33.74%Oct 1998 | 5mo 18d | 1y 3mo | 1y 8moApr 1998 - Jan 2000 |
Drawdown Indicators
| RYOTX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.86% | -56.78% | -0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -12.10% | -9.10% | -3.00% |
Max Drawdown (3Y)Largest decline over 3 years | -29.83% | -18.90% | -10.93% |
Max Drawdown (5Y)Largest decline over 5 years | -35.84% | -25.43% | -10.41% |
Max Drawdown (10Y)Largest decline over 10 years | -44.87% | -33.92% | -10.95% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -9.42% | -10.71% | +1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.33% | 2.03% | +1.30% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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