PAHPX Performance — Royce Small-Cap Fund
Data updated: 2026-08-11
PAHPX returned +23.82% year to date and +35.97% over one year to Jun 2026. Annualised returns are +16.62% over 3 years and +9.70% over 5 years. The fund beat its US Small Value category average: $100 invested three years ago grew to $159, against $153 for the category, and to $136 over one year, against $131. Volatility over the past three years was 17.84% a year. In the 12 months to Jun 2026 the fund lost a net $53.6M, and assets reached $2.14B. Returns are those of sibling share class PENNX; this class's own returns are not reported in filings.
PAHPX Growth of $100
What $100 invested in Royce Small-Cap Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Value category average over the same months.
| Period | PAHPX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $136 | $131 |
| 3 years (Jul 2023 – Jun 2026) | $159 | $153 |
| 5 years (Jul 2021 – Jun 2026) | $159 | $149 |
| Since data start (Jul 2019 – Jun 2026) | $227 | $213 |
PAHPX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +23.82% |
| 1 year | +35.97% |
| 3 years (annualised) | +16.62% |
| 5 years (annualised) | +9.70% |
PAHPX Annual Returns
Calendar-year total returns of Royce Small-Cap Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +23.82% |
| 2025 | +8.96% |
| 2024 | +7.08% |
| 2023 | +26.66% |
| 2022 | −17.05% |
| 2021 | +22.03% |
| 2020 | +14.07% |
| 2019 (Jul–Dec) | +7.43% |
PAHPX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +6.8% | +3.0% | −5.6% | +10.2% | +1.5% | +6.5% | — | — | — | — | — | — |
| 2025 | +2.2% | −5.3% | −6.3% | −1.8% | +6.3% | +4.8% | +1.3% | +5.8% | +0.4% | −0.3% | +2.2% | +0.1% |
| 2024 | −2.7% | +4.9% | +4.3% | −6.1% | +6.0% | −1.3% | +7.0% | −1.8% | −0.6% | −2.8% | +8.7% | −7.1% |
| 2023 | +10.5% | −1.1% | −1.1% | −2.2% | −0.4% | +9.5% | +4.4% | −2.2% | −4.8% | −6.1% | +8.8% | +10.4% |
| 2022 | −8.7% | +0.3% | −0.8% | −7.5% | +1.7% | −7.9% | +9.7% | −3.8% | −9.5% | +9.4% | +6.6% | −5.4% |
| 2021 | +1.6% | +9.1% | +2.4% | +3.7% | −0.1% | −0.8% | −0.6% | +1.2% | −2.8% | +4.5% | −2.5% | +5.0% |
| 2020 | −3.2% | −9.4% | −20.5% | +14.0% | +5.9% | +2.8% | +4.2% | +3.3% | −3.5% | +2.8% | +15.2% | +7.4% |
| 2019 | — | — | — | — | — | — | +1.2% | −4.9% | +2.6% | +2.4% | +3.4% | +2.7% |
PAHPX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 17.84%
- 3-year Sharpe ratio: 0.68 (vs 4.5% risk-free rate)
- Best month: +10.41% (Dec 2023)
- Worst month: −7.10% (Dec 2024)
PAHPX Fund Flows
Monthly money in and out of Royce Small-Cap Fund, from SEC Form N-PORT.
- 12-month net flow: −$53.6M
- 12-month gross sales (incl. reinvestments): $223.5M
- Sales ÷ redemptions: 0.81×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $10.2M | $22.1M | −$11.9M |
| May 2026 | $12.9M | $18.8M | −$5.8M |
| Apr 2026 | $14.6M | $21.5M | −$7.0M |
| Mar 2026 | $14.2M | $18.3M | −$4.1M |
| Feb 2026 | $12.9M | $24.3M | −$11.3M |
| Jan 2026 | $13.4M | $22.6M | −$9.2M |
| Dec 2025 | $110.5M | $26.5M | $84.0M |
| Nov 2025 | $6.6M | $23.4M | −$16.8M |
| Oct 2025 | $6.3M | $26.2M | −$19.9M |
| Sep 2025 | $8.8M | $21.1M | −$12.2M |
| Aug 2025 | $5.4M | $25.7M | −$20.3M |
| Jul 2025 | $7.8M | $26.8M | −$19.0M |
PAHPX Assets Under Management
Net assets of Royce Small-Cap Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $2.14B |
| 2026-03-31 | $1.82B |
| 2025-12-31 | $1.77B |
| 2025-09-30 | $1.80B |
| 2025-06-30 | $1.72B |
| 2025-03-31 | $1.62B |
| 2024-12-31 | $1.87B |
| 2024-09-30 | $1.97B |
| 2024-06-30 | $1.90B |
| 2024-03-31 | $1.96B |
| 2023-12-31 | $1.87B |
| 2023-09-30 | $1.67B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.