Royce Small-Cap Trust (NYSE: RVT) as of Oct 31, 2025
MWN-AI** Summary
As of October 31, 2025, Royce Small-Cap Trust (NYSE: RVT) continues to be a prominent player in the closed-end fund space, focusing primarily on small- and micro-cap equity securities. Known as the oldest and largest fund of its kind, RVT emphasizes long-term capital growth, with a portfolio that allocates at least 65% of its assets to these smaller companies. The fund is managed by a team boasting over 50 years of investment expertise in the small-cap realm.
As of the end of October 2025, RVT reported a net asset value (NAV) of $17.79 per share and a market price of $16.00. Year-to-date performance showed a robust return of 10.95% based on NAV and 7.30% based on market price. Over the past year, the fund yielded returns of 13.89% (NAV) and 15.14% (market). In terms of longer-term performance, RVT has also delivered annualized returns over three, five, and ten-year periods of 15.22%, 12.41%, and 11.12%, respectively.
The fund's average market capitalization stands at $3.3 billion, with a weighted average price-to-earnings (P/E) ratio of 18.3x and a price-to-book (P/B) ratio of 22.2x, providing insight into its valuation metrics. RVT's top sector allocations include Industrials (25.7%), Financials (20.2%), and Information Technology (13.7%).
Given its diversified portfolio and strategic focus on smaller-cap equities, RVT remains a compelling investment option for those seeking exposure to the small-cap market, albeit with a recognition of the inherent risks associated with this investment strategy. Investors are encouraged to review performance, risks, and fees comprehensively before making decisions.
MWN-AI** Analysis
As of October 31, 2025, Royce Small-Cap Trust (NYSE: RVT) presents an intriguing opportunity for investors focused on small-cap sectors. With a net asset value (NAV) of $17.79 and a market price of $16.00, the trust is currently trading at a discount to its NAV, offering potential for appreciation as market dynamics evolve.
The fund’s performance metrics indicate a solid track record, with a year-to-date return of 10.95% and a one-year return of 13.89%. These figures, particularly the favorable performance against market trends, highlight the effectiveness of its investment strategy, which includes a focus on small- and micro-cap equities. Diversification across various sectors—industrials (25.7%), financials (20.2%), and information technology (13.7%)—aids in mitigating risks while capitalizing on growth potential in high-performing industries.
However, it’s crucial to note that investing in small- and micro-cap funds carries inherent risks, as these shares tend to be more volatile than larger-cap companies. The trust’s weighted average P/E ratio of 218.3x and a P/B ratio of 22.2x suggest that the fund is priced for growth; thus, investors should be prepared for fluctuations tied to earnings realizations as the companies within the portfolio expand.
Considering the current trading environment and RVT's annualized performance history, investors should assess their risk tolerance and investment objectives before diving in. For those with a long-term view able to embrace volatility, RVT could be a valuable addition to a diversified portfolio, especially as it aims for capital growth through equity exposure in smaller companies poised for expansion.
Prospective investors should keep a close watch on market conditions, as economic shifts can significantly impact small-cap valuations and performance.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
- Oldest and largest small-cap closed-end fund
- Average weekly trading volume of approximately 1,137,181 shares
- Fund's adviser has more than 50 years of small- and micro-cap investment experience
NEW YORK, Nov. 24, 2025 /PRNewswire/ --
CLOSING PRICES AS OF 10/31/25 | |
NAV | 17.79 |
MKT | 16.00 |
AVERAGE ANNUAL TOTAL RETURN AS OF 10/31/25 | NAV (%) | MKT (%) |
One-Month* | -0.39 | -0.81 |
Year to Date* | 10.95 | 7.30 |
One-Year | 13.89 | 15.14 |
Three-Year | 15.22 | 13.51 |
Five-Year | 12.41 | 13.88 |
10-Year | 11.12 | 11.95 |
*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 Cap1 | $3328.5M |
Weighted Average P/E2 | 18.3x |
Weighted Average P/B2 | 2.2x |
Net Assets | $2.15B |
1Geometric 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.
2Harmonic 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 (14% of portfolio holdings as of 10/31/25). 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 CHANGE) |
IES Holdings | 2.3 |
Assured Guaranty | 1.3 |
APi Group | 1.1 |
Arcosa | 1.1 |
E-L Financial | 1.1 |
SEI Investments | 1.0 |
Brady Corporation Cl. A | 1.0 |
Powell Industries | 1.0 |
ESAB Corporation | 0.9 |
Impinj | 0.9 |
TOP FIVE SECTORS | % OF NET ASSETS (SUBJECT TO CHANGE) |
Industrials | 25.7 |
Financials | 20.2 |
Information Technology | 13.7 |
Consumer Discretionary | 9.9 |
Health Care | 9.9 |
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 Small Cap Trust
FAQ**
How has the performance of Royce Value Trust Inc. RVT compared to its benchmark over the past year, particularly given its one-year performance of 13.89% NAV and 15.14% market return as of October 32025?
Considering the average annual total return for Royce Value Trust Inc. RVT over the last three years is 15.2NAV, how does this performance impact investor sentiment for future growth prospects in small-cap investments?
With the fund investing primarily in small- and micro-cap companies, what specific risks associated with this strategy does Royce Value Trust Inc. RVT identify and communicate to its investors as of October 31, 2025?
Given the fund's recent NAV of $17.79 and market price of $16.00, how does Royce Value Trust Inc. RVT manage the risk of trading at a discount to its net asset value, and what strategies are in place to address potential investor concerns?
**MWN-AI FAQ is based on asking OpenAI questions about Royce Value Trust Inc. (NYSE: RVT).
NASDAQ: RVT
RVT Trading
1.74% G/L:
$16.95 Last:
50,684 Volume:
$16.85 Open:
