RYDVX Fees and Costs — Royce SMid-Cap Total Return Fund, Service Class
Data updated: 2026-08-11
The net expense ratio is 1.34%: a 0.85% management fee, a 0.25% 12b-1 fee plus 0.56% other expenses, less a 0.32% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $59K in broker commissions, 0.1013% of average net assets, and portfolio turnover was 47%.
RYDVX Fees and Expenses
Annual operating expenses and sales charges of RYDVX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.56% |
| Gross expense ratio | 1.66% |
| Fee waiver | −0.32% |
| Net expense ratio | 1.34% |
| 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 |
RYDVX Costs Over Time
On $10,000 invested in RYDVX, assuming 5% a year before costs, total costs come to $894 over 5 years, cutting the return by 1.51% 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 1.34%) | $141 | $437 | $754 |
| Trading costs (broker commissions) | $11 | $33 | $57 |
| Lost growth on money paid in costs | $0 | $23 | $82 |
| Total costs | $151 | $493 | $894 |
| Value after costs | $10,349 | $11,083 | $11,869 |
| Impact on return, per year | 1.51% | 1.51% | 1.51% |
RYDVX 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): 0.1013%
- Total broker commissions: $59K
- Bought from dealers (principal trades, not a cost): $851.2M
- Portfolio turnover (prospectus): 47%
- Securities lending: none during the year
RYDVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Liquidnet, Inc. | $6K | 19.28% |
| Stifel, Nicolaus & Company, Incorporated | $4K | 13.95% |
| UBS Securities LLC | $3K | 10.69% |
| Truist Securities, Inc. | $3K | 8.71% |
| William Blair & Company, L.L.C. | $2K | 8.57% |
| Raymond James & Associates, Inc. | $2K | 8.36% |
| Stephens Inc. | $2K | 8.24% |
| Citigroup Global Markets Inc. | $2K | 8.21% |
| B. Riley & Co., LLC | $2K | 7.14% |
| TD Securities (USA) LLC | $2K | 6.86% |
RYDVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $851.2M | 100.00% |
Royce SMid-Cap Total Return Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RDVIX | Investment Class | 1.09% | none |
| RYDVX | Service Class | 1.34% | 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.