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Royce Small-Cap Trust Performance Overview

As of July 31, 2026, the Royce Small-Cap Trust (NYSE: RVT) remains a notable contender in the small-cap investment realm, demonstrating a blend of historical performance and strategic investment allocation. This closed-end fund, recognized as one of the oldest and largest of its kind, is dedicated to investing primarily in small- and micro-cap companies, which continuously makes it an intriguing option for investors.

Recent Performance Metrics

The fund’s net asset value (NAV) stands at $20.63, while the market price is $18.09, reflecting fluctuating investor sentiment and broader market conditions. As of July 31, 2026, the fund's average annual total return showcases both short-term and long-term performance:

• - One-Month Return: -2.73% (NAV), -2.06% (Market)
• - Year to Date: 20.83% (NAV), 16.42% (Market)
• - One-Year Return: 31.81% (NAV), 29.90% (Market)
• - Three-Year Return: 17.43% (NAV), 17.36% (Market)
• - Five-Year Return: 9.11% (NAV), 8.92% (Market)
• - Ten-Year Return: 12.45% (NAV), 12.64% (Market)

These figures indicate a particularly strong performance over the past year, highlighting the fund's ability to navigate the volatile market landscape effectively. However, it is crucial to consider these results as reflective of past performance, with no guarantees for future returns being provided.

Portfolio Diagnostics

Royce Small-Cap Trust manages approximately $2.56 billion in net assets, with a weighted average market capitalization of $3,833.2 million. The portfolio boasts a weighted average price-to-earnings (P/E) ratio of 19.3x and a price-to-book (P/B) ratio of 2.6x. These metrics underscore a diversified approach in selecting investments, balancing potential growth with risk considerations.

The fund’s top ten positions constitute a significant portion of its net assets:

• - IES Holdings: 3.6%
• - Assured Guaranty: 1.2%
• - Quaker Houghton: 1.1%
• - SEI Investments: 1.1%
• - APi Group: 1.0%
• - International General Insurance Holdings: 1.0%
• - Arcosa: 0.9%
• - Dorman Products: 0.9%
• - Interparfums: 0.9%
• - JBT Marel: 0.9%

The composition of industries represented within the fund also reflects a calculated diversification strategy:

• - Industrials: 27.2%
• - Financials: 20.0%
• - Information Technology: 14.3%
• - Consumer Discretionary: 10.7%
• - Health Care: 8.8%

Strategic Insights and Outlook

Investors should keep in mind that, despite the Royce Small-Cap Trust's strong performance record, investing in small-cap and micro-cap companies carries additional risks compared to larger-cap investments. The potential for higher returns exists, but these come hand in hand with a higher volatility factor and greater sensitivity to market movements.

Additionally, the current global economic outlook and potential changes in fiscal policies could influence future performance. Royce has historically employed a rigorous investment strategy, leveraging its advisor’s over 50 years of experience in the small-cap sector.

For those interested in exploring Royce Small-Cap Trust further, detailed daily net asset values are available on their website. Understanding the fund's objectives and the associated risks is essential for prospective investors. Always consider consulting financial advisors to tailor investments to personal financial goals and risk tolerance levels. Whether you’re a seasoned investor or new to the market, the Royce Small-Cap Trust offers compelling insights into the dynamics of small-cap investing.

In conclusion, the Royce Small-Cap Trust exemplifies a structured approach to small-cap investments, supported by robust analytical tools and substantial market experience. Its recent performance outcomes signal potential for growth, but prudent evaluation remains essential in navigating this sector’s inherent challenges.