RSEIX Performance — Royce Small-Cap Special Equity Fund, Institutional Class
Data updated: 2026-08-11
RSEIX returned +21.76% year to date and +34.02% over one year to Jun 2026. Annualised returns are +10.78% over 3 years and +8.09% over 5 years. Against its US Small Value category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $136, against $153 for the category, and to $134 over one year, against $131. Volatility over the past three years was 14.61% a year. In the 12 months to Jun 2026 the fund lost a net $96.0M, and assets reached $478.71M.
RSEIX Growth of $100
What $100 invested in Royce Small-Cap Special Equity 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 | RSEIX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $134 | $131 |
| 3 years (Jul 2023 – Jun 2026) | $136 | $153 |
| 5 years (Jul 2021 – Jun 2026) | $148 | $149 |
| Since data start (Jul 2019 – Jun 2026) | $195 | $213 |
RSEIX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +21.76% |
| 1 year | +34.02% |
| 3 years (annualised) | +10.78% |
| 5 years (annualised) | +8.09% |
RSEIX Annual Returns
Calendar-year total returns of Royce Small-Cap Special Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +21.76% |
| 2025 | +3.42% |
| 2024 | +3.11% |
| 2023 | +12.95% |
| 2022 | −6.26% |
| 2021 | +22.70% |
| 2020 | +7.46% |
| 2019 (Jul–Dec) | +7.66% |
RSEIX 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 | +6.9% | +0.3% | −2.9% | +6.7% | +6.6% | +2.8% | — | — | — | — | — | — |
| 2025 | −2.0% | −3.5% | −3.7% | −4.0% | +4.8% | +2.5% | +0.2% | +7.2% | +1.1% | −1.9% | +2.0% | +1.3% |
| 2024 | −2.1% | +0.7% | +3.7% | −3.3% | +3.1% | −3.2% | +9.6% | −5.4% | +1.1% | −1.8% | +7.2% | −5.3% |
| 2023 | +5.8% | +0.1% | −2.3% | −3.0% | 0.0% | +7.5% | +1.4% | −2.5% | −2.7% | −2.9% | +3.3% | +8.7% |
| 2022 | −5.6% | +1.4% | −1.4% | −4.0% | +2.4% | −5.9% | +8.2% | −4.3% | −6.9% | +9.8% | +4.9% | −3.2% |
| 2021 | +0.8% | +8.5% | +3.6% | +3.0% | −0.6% | −1.4% | −1.0% | +2.4% | −2.4% | +4.4% | +0.9% | +3.0% |
| 2020 | −3.7% | −6.7% | −16.1% | +10.9% | +5.0% | +2.5% | +0.8% | +4.3% | −2.4% | +3.0% | +7.1% | +5.5% |
| 2019 | — | — | — | — | — | — | +0.4% | −3.5% | +3.2% | +3.1% | +2.5% | +1.9% |
RSEIX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 14.61%
- 3-year Sharpe ratio: 0.43 (vs 4.5% risk-free rate)
- Best month: +9.61% (Jul 2024)
- Worst month: −5.37% (Aug 2024)
RSEIX Fund Flows
Monthly money in and out of Royce Small-Cap Special Equity Fund, from SEC Form N-PORT.
- 12-month net flow: −$96.0M
- 12-month gross sales (incl. reinvestments): $86.1M
- Sales ÷ redemptions: 0.47×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $3.3M | $8.3M | −$5.0M |
| May 2026 | $2.5M | $9.6M | −$7.1M |
| Apr 2026 | $3.1M | $11.1M | −$8.0M |
| Mar 2026 | $3.4M | $11.4M | −$8.0M |
| Feb 2026 | $3.1M | $11.5M | −$8.5M |
| Jan 2026 | $10.0M | $15.9M | −$5.8M |
| Dec 2025 | $45.0M | $28.2M | $16.9M |
| Nov 2025 | $2.5M | $28.5M | −$25.9M |
| Oct 2025 | $2.9M | $12.2M | −$9.3M |
| Sep 2025 | $4.9M | $16.4M | −$11.5M |
| Aug 2025 | $2.4M | $11.2M | −$8.9M |
| Jul 2025 | $2.9M | $17.9M | −$15.0M |
RSEIX Assets Under Management
Net assets of Royce Small-Cap Special Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $478.71M |
| 2026-03-31 | $428.15M |
| 2025-12-31 | $432.33M |
| 2025-09-30 | $494.81M |
| 2025-06-30 | $489.31M |
| 2025-03-31 | $517.48M |
| 2024-12-31 | $617.67M |
| 2024-09-30 | $711.21M |
| 2024-06-30 | $707.24M |
| 2024-03-31 | $767.60M |
| 2023-12-31 | $784.44M |
| 2023-09-30 | $753.35M |
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.