RLESX Performance — U.S. Small Cap Equity Fund, Class S
Data updated: 2026-09-25
RLESX returned +20.37% year to date and +34.52% over one year to Jul 2026. Annualised returns are +13.08% over 3 years and +7.11% over 5 years. Against its US Small Blend category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $145, against $146 for the category, and to $135 over one year, against $129. Volatility over the past three years was 18.70% a year. In the 12 months to Jul 2026 the fund took in a net $158.3M, and assets reached $975.36M.
RLESX Growth of $100
What $100 invested in U.S. Small Cap Equity Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Blend category average over the same months.
| Period | RLESX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $135 | $129 |
| 3 years (Aug 2023 – Jul 2026) | $145 | $146 |
| 5 years (Aug 2021 – Jul 2026) | $141 | $141 |
| Since data start (Aug 2019 – Jul 2026) | $202 | $204 |
RLESX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +20.37% |
| 1 year | +34.52% |
| 3 years (annualised) | +13.08% |
| 5 years (annualised) | +7.11% |
RLESX Annual Returns
Calendar-year total returns of U.S. Small Cap Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +20.37% |
| 2025 | +8.72% |
| 2024 | +8.65% |
| 2023 | +13.53% |
| 2022 | −16.22% |
| 2021 | +25.87% |
| 2020 | +12.84% |
| 2019 (Aug–Dec) | +5.27% |
RLESX 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 | +4.8% | +2.2% | −4.7% | +10.7% | +3.3% | +6.5% | −3.2% | — | — | — | — | — |
| 2025 | +2.9% | −5.6% | −6.5% | −3.0% | +4.4% | +5.0% | +0.8% | +6.9% | +0.4% | +0.4% | +3.1% | +0.6% |
| 2024 | −2.7% | +4.5% | +4.9% | −6.6% | +4.3% | −1.3% | +8.2% | −1.8% | +0.5% | −1.9% | +10.2% | −8.2% |
| 2023 | +8.7% | −1.4% | −4.8% | −1.8% | −1.6% | +7.7% | +5.1% | −3.8% | −5.7% | −6.8% | +8.5% | +10.9% |
| 2022 | −7.4% | +0.6% | −0.1% | −8.2% | +1.6% | −7.5% | +9.1% | −2.5% | −9.0% | +10.7% | +2.8% | −5.2% |
| 2021 | +3.5% | +10.0% | +2.8% | +3.5% | +1.1% | +0.7% | −2.1% | +1.6% | −2.6% | +4.5% | −3.7% | +4.5% |
| 2020 | −4.0% | −9.4% | −23.3% | +13.2% | +6.1% | +2.5% | +2.8% | +5.1% | −3.5% | +2.2% | +17.3% | +9.7% |
| 2019 | — | — | — | — | — | — | — | −4.2% | +2.6% | +1.8% | +2.8% | +2.2% |
RLESX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 18.70%
- 3-year Sharpe ratio: 0.46 (vs 4.5% risk-free rate)
- Best month: +10.89% (Dec 2023)
- Worst month: −8.23% (Dec 2024)
RLESX Fund Flows
Monthly money in and out of U.S. Small Cap Equity Fund, from SEC Form N-PORT.
- 12-month net flow: $158.3M
- 12-month gross sales (incl. reinvestments): $439.8M
- Sales ÷ redemptions: 1.56×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $6.0M | $16.7M | −$10.7M |
| Jun 2026 | $5.8M | $28.2M | −$22.4M |
| May 2026 | $5.0M | $14.0M | −$9.0M |
| Apr 2026 | $6.2M | $27.8M | −$21.6M |
| Mar 2026 | $82.1M | $13.4M | $68.7M |
| Feb 2026 | $14.4M | $13.7M | $743K |
| Jan 2026 | $22.1M | $17.1M | $5.0M |
| Dec 2025 | $278.2M | $21.8M | $256.4M |
| Nov 2025 | $7.3M | $72.0M | −$64.7M |
| Oct 2025 | $5.7M | $10.4M | −$4.7M |
| Sep 2025 | $3.3M | $19.0M | −$15.7M |
| Aug 2025 | $3.7M | $27.3M | −$23.6M |
RLESX Assets Under Management
Net assets of U.S. Small Cap Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $975.36M |
| 2026-04-30 | $956.29M |
| 2026-01-31 | $836.54M |
| 2025-10-31 | $627.04M |
| 2025-07-31 | $624.23M |
| 2025-04-30 | $600.80M |
| 2025-01-31 | $734.17M |
| 2024-10-31 | $859.39M |
| 2024-07-31 | $907.45M |
| 2024-04-30 | $839.12M |
| 2024-01-31 | $851.43M |
| 2023-10-31 | $757.82M |
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.