Royce Small-Cap Trust (NYSE: RVT) as of Jul 31, 2025
MWN-AI** Summary
As of July 31, 2025, the Royce Small-Cap Trust (NYSE: RVT) maintains its position as the oldest and largest closed-end fund focused on small-cap investments. The trust is a premier choice for investors looking to capitalize on the potential of small and micro-cap companies, leveraging over 50 years of investment expertise from its advisers. The fund's net asset value (NAV) stood at $17.06, while its market price was recorded at $15.18, reflecting a discount in share price compared to its NAV.
Performance data as of this date highlights the fund's average annual total returns: 1.91% over the month, 4.53% year-to-date, and 4.58% over the past year. Over a longer perspective, RVT has delivered returns of 10.33% over three years, 11.24% over five years, and 10.05% over ten years. These figures indicate consistent performance, although returns are net of advisory fees and are not indicative of future results.
The trust's portfolio, with total net assets of $2.04 billion, showcases a diverse array of small-cap securities. The average market capitalization of holdings is approximately $3.2 billion, with a weighted average price-to-earnings (P/E) ratio of 18.5x and a price-to-book (P/B) ratio of 2.1x. Top sectors include Industrials (25.4%), Financials (22.5%), and Information Technology (14.4%).
RVT's investment strategy involves allocating at least 65% of assets to equity securities in small- and micro-cap companies, providing growth potential amidst elevated market risks. Investors should carefully consider inherent risks and expenses before investing, as market conditions can significantly influence fund performance. For more detailed insights, investors can access daily NAV updates and other information via the Royce Funds website.
MWN-AI** Analysis
As of July 31, 2025, investors should consider the Royce Small-Cap Trust (NYSE: RVT) as a viable option for exposure to small-cap equity markets. Currently trading at $15.18 per share, RVT shows a significant discount to its net asset value (NAV) of $17.06, reflecting a market price to NAV ratio of approximately 0.89. This discount can present an enticing entry point for value-oriented investors, particularly as the fund has a solid historical performance record.
The average annual total returns reinforce RVT's potential, with a five-year return of 11.24% and a ten-year return of 10.05% for NAV. Year-to-date, despite a slight underperformance in the broader market, the fund generated a 4.53% return, which bodes well for the long-term for investors willing to ride out shorter market fluctuations.
The portfolio is diversified across various sectors, with notable exposure to Industrials (25.4%), Financials (22.5%), and Information Technology (14.4%). This diversified allocation helps mitigate sector-specific risks, especially important given the volatility that can affect small-cap stocks.
Moreover, the fund's weighted average P/E ratio of 18.5 and P/B ratio of 2.1 suggest that, while small-caps can be riskier, RVT's selected holdings exhibit reasonable valuation metrics. The fund maintains a robust investment strategy, led by a management team with over 50 years of small-cap investment experience, further enhancing investor confidence.
In summary, RVT could appeal to investors looking for long-term capital appreciation in small-cap equities, particularly at its current market price relative to NAV. However, potential investors should remain cautious of inherent risks associated with small-cap investing and consider their investment horizon and risk tolerance before committing capital.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
NEW YORK , Sept. 2, 2025 /PRNewswire/ --
- Oldest and largest small-cap closed-end fund
- Average weekly trading volume of approximately 1,343,647 shares
- Fund's adviser has more than 50 years of small- and micro-cap investment experience
CLOSING PRICES AS OF 07/31/25 | |
NAV | 17.06 |
MKT | 15.18 |
AVERAGE ANNUAL TOTAL RETURN AS OF 07/31/25 | NAV (%) | MKT (%) |
One-Month* | 1.91 | 0.86 |
Year to Date* | 4.53 | 0.02 |
One-Year | 4.58 | 3.40 |
Three-Year | 10.33 | 7.12 |
Five-Year | 11.24 | 11.98 |
10-Year | 10.05 | 10.41 |
*Not Annualized
Important Performance and Expense Information
All performance information reflects past performance, is presented on a total return basis, net of the Fund's investment advisory fee, and reflects the reinvestment of distributions. Past performance is no guarantee of future results. Current performance may be higher or lower than performance quoted. Returns as of the recent month-end may be obtained at www.royceinvest.com . The market price of the Fund's shares will fluctuate, so that shares may be worth more or less than their original cost when sold.
The Fund invests primarily in securities of small-cap and micro-cap companies, which may involve considerably more risk than investing in larger-cap companies. The Fund's broadly diversified portfolio does not ensure a profit or guarantee against loss. From time to time, the Fund may invest a significant portion of its net assets in foreign securities, which may involve political, economic, currency, and other risks not encountered in U.S. investments.
PORTFOLIO DIAGNOSTICS | |
Average Market Cap 1 | $3207.5M |
Weighted Average P/E 2 | 18.5x |
Weighted Average P/B 2 | 2.1x |
Net Assets | $2.04B |
1 Geometric Average : This weighted calculation uses each portfolio holding's market cap in a way designed to not skew the effect of very large or small holdings; instead, it aims to better identify the portfolio's center, which Royce believes offers a more accurate measure of average market cap than a simple mean or median.
2 Harmonic Average : This weighted calculation evaluates a portfolio as if it were a single stock and measures it overall. It compares the total market value of the portfolio to the portfolio's share in the earnings of its underlying stocks.
The Price-Earnings , or P/E, ratio is calculated by dividing a company's share price by its trailing 12-month earnings-per-share (EPS). The Fund's P/E ratio calculation excludes companies with zero or negative earnings (13% of portfolio holdings as of 07/31/25). The Price-to-Book, or P/B, Ratio is calculated by dividing a company's share price by its book value per share.
The Price-to-Book , or P/B, Ratio is calculated by dividing a company's share price by its book value per share.
Portfolio Composition
TOP 10 POSITIONS | % OF NET ASSETS (SUBJECT TO |
IES Holdings | 2.1 |
Assured Guaranty | 1.4 |
APi Group | 1.2 |
PAR Technology | 1.2 |
SEI Investments | 1.1 |
E-L Financial | 1.1 |
Impinj | 1.1 |
International General Insurance Holdings | 1.1 |
Haemonetics Corporation | 1.0 |
Brady Corporation Cl. A | 1.0 |
TOP FIVE SECTORS | % OF NET ASSETS (SUBJECT TO |
Industrials | 25.4 |
Financials | 22.5 |
Information Technology | 14.4 |
Consumer Discretionary | 9.7 |
Health Care | 9.3 |
Recent Developments
Royce Small-Cap Trust is a closed-end diversified management investment company whose shares of Common Stock (RVT) are listed and traded on the New York Stock Exchange. Its primary investment goal is long-term capital growth, which it seeks by investing at least 65% of its assets in equity securities primarily of small- and micro-cap companies.
Daily net asset values (NAVs) for Royce Small-Cap Trust are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XRVTX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.royceinvest.com .
An investor in Royce Small-Cap Trust should consider the Fund's investment goals, risks, fees, and expenses carefully before investing.
Important Disclosure Information
Closed-End Funds are registered investment companies whose shares of common stock may trade at a discount to their net asset value. Shares of each Fund's common stock are also subject to the market risks of investing in the underlying portfolio securities held by the Fund. Royce Fund Services, LLC. ("RFS") is a member of FINRA and has filed this material with FINRA on behalf of each Fund. RFS does not serve as a distributor or as an underwriter to the closed-end funds.
SOURCE Royce Value Trust, Inc.
FAQ**
What factors contributed to the Royce Value Trust Inc. RVT's average annual total return of 4.58% for the one-year period ending on July 32025, compared to its market return of 3.40% during the same timeframe?
How do the weighted average P/E ratio of 18.5x and P/B ratio of 2.1x for the Royce Value Trust Inc. RVT reflect the current valuation trends of small-cap and micro-cap companies within its portfolio?
Given the portfolio's significant holdings in the industrials and financial sectors, how does the Royce Value Trust Inc. RVT plan to navigate potential sector-specific risks and capitalize on growth opportunities?
Considering the average market cap of $3,207.5M for the Royce Value Trust Inc. RVT, how does the fund's strategy address the inherent risks associated with investing in smaller companies, particularly in volatile market conditions?
**MWN-AI FAQ is based on asking OpenAI questions about Royce Value Trust Inc. (NYSE: RVT).
NASDAQ: RVT
RVT Trading
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96,899 Volume:
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