The Royce Value Trust (RVT) is a closed-end fund that can be appealing for dividend investors. However, upon closer inspection, it's evident that there are ETF alternatives that offer the same, albeit at a lower fee. Therefore, I think that RVT can be a viable small-cap investment vehicle but only for those investors who don't mind volatile dividends but still want distribution income and exposure to cheap small caps.
Overview
RVT is a closed-end fund that invests in undervalued small-cap companies (market caps of $3 billion or less). This publicly-traded trust uses the