#USA #New York #Royce Small-Cap Trust #Closed-End Fund #RVT

Royce Small-Cap Trust Overview

As of March 31, 2026, the Royce Small-Cap Trust (NYSE: RVT) stands as one of the oldest and largest small-cap closed-end funds in the market. This esteemed investment vehicle is known for its impressive trading volumes and long-standing commitment to small and micro-cap investments. With an average weekly trading volume of approximately 1,197,609 shares, the fund attracts considerable attention from investors seeking exposure to the dynamic small-cap sector.

Investment Strategy

The Royce Small-Cap Trust focuses on long-term capital growth by primarily investing over 65% of its assets in the equities of small- and micro-cap companies. This strategic allocation allows the fund to tap into high-growth potential that these smaller firms often possess. The expertise of its adviser, boasting over 50 years of experience in this niche, provides a robust framework for identifying and capitalizing on market opportunities.

Performance Metrics

The fund's performance metrics reflect its commitment to delivering consistent returns. The Net Asset Value (NAV) was reported at $18.09 while the market price fell slightly to $16.60. The annual total return metrics as of March 31, 2026, showcase both short-term and long-term performance:

• - One-Month Return: NAV at -5.85%, with MKT at -7.91%.
• - Year-to-Date Return: NAV shows 4.15% against MKT at 5.01%.
• - One-Year Return: An impressive 27.47% for NAV versus 27.41% for MKT.
• - Three-Year Return: A solid showing with NAV at 15.20% and MKT at 16.33%.
• - Five-Year Return: NAV standing at 6.63% compared to MKT at 7.30%.
• - Ten-Year Return: Sustained growth with NAV at 11.72% and MKT at 12.64%.

Importantly, all performance figures take into account past performance and are net of the fund’s advisory fees, ensuring a comprehensive view of the returns delivered to investors.

Portfolio Composition

The Royce Small-Cap Trust's portfolio demonstrates a balanced approach between various sectors. The top ten positions, consisting predominantly of industrials, financials, and information technology, include:

• - IES Holdings (2.6%)
• - Assured Guaranty (1.2%)
• - APi Group (1.2%)
• - Arcosa (1.2%)
• - International General Insurance Holdings (1.0%)
• - Quaker Houghton (0.9%)
• - SEI Investments (0.9%)
• - ESCO Technologies (0.9%)
• - Brady Corporation Cl. A (0.9%)
• - JBT Marel (0.9%)

In total, the portfolio’s sector allocation is diversified with approximately 26.7% in Industrials, 19.7% in Financials, followed by 13.4% in Information Technology, 9.6% in Consumer Discretionary, and 9.1% in Health Care.

Insights and Considerations

Investors considering the Royce Small-Cap Trust should carefully evaluate their objectives, risks, and investment horizons. The small-cap sector can offer remarkable growth opportunities, but it inherently comes with volatility and risk. The historically proven track record and experienced management team of Royce provide confidence in navigating these challenges.

With a market cap of $2.23 billion and a weighted average P/E ratio of 18.1x as of the latest data, the Royce Small-Cap Trust positions itself as an attractive option for those looking to diversify into high-growth categories.

Conclusion

In conclusion, the Royce Small-Cap Trust remains a prominent player in the investment landscape, especially for those interested in small-cap equities. With its rich history, strong performance metrics, and diversified portfolio, it continues to appeal to investors aiming for substantial long-term growth. As always, potential investors should conduct thorough research and consult with financial advisors to align their investment strategies accordingly.