ROFIX Fees and Costs — Royce Small-Cap Opportunity Fund, Institutional Class
Data updated: 2026-08-11
The net expense ratio is 1.14%: a 1.00% management fee plus 0.14% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.5M in broker commissions, 0.2356% of average net assets, and portfolio turnover was 51%.
ROFIX Fees and Expenses
Annual operating expenses and sales charges of ROFIX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 1.14% |
| Fee waiver | — |
| Net expense ratio | 1.14% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ROFIX Costs Over Time
On $10,000 invested in ROFIX, assuming 5% a year before costs, total costs come to $854 over 5 years, cutting the return by 1.44% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.14%) | $120 | $372 | $643 |
| Trading costs (broker commissions) | $25 | $77 | $133 |
| Lost growth on money paid in costs | $0 | $22 | $79 |
| Total costs | $144 | $471 | $854 |
| Value after costs | $10,356 | $11,105 | $11,909 |
| Impact on return, per year | 1.44% | 1.44% | 1.44% |
ROFIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2356%
- Total broker commissions: $2.5M
- Bought from dealers (principal trades, not a cost): $8.2B
- Portfolio turnover (prospectus): 51%
- Securities on loan, average value: $17.8M
- Net income from securities lending: $65K (0.006% of average net assets)
ROFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Stifel, Nicolaus & Company, Incorporated | $327K | 20.18% |
| Wall Street Access Corporation | $304K | 18.77% |
| Robert W. Baird & Co. Incorporated | $270K | 16.67% |
| Goldman Sachs & Co. LLC | $124K | 7.67% |
| BofA Securities, Inc. | $117K | 7.20% |
| Canaccord Genuity LLC | $105K | 6.50% |
| UBS Securities LLC | $102K | 6.29% |
| Nomura Securities International, Inc. | $100K | 6.19% |
| GFI Securities LLC | $96K | 5.95% |
| William Blair & Company, L.L.C. | $74K | 4.58% |
ROFIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $8.2B | 100.00% |
| GFI Securities LLC | $104K | 0.00% |
Royce Small-Cap Opportunity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ROFIX | Institutional Class | 1.14% | none |
| RYPNX | Investment Class | 1.24% | none |
| RYOFX | Service Class | 1.49% | none |
| ROFRX | R Class | 1.89% | none |
| ROFCX | Consultant Class | 2.24% | none |
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.