RYVFX Fees and Costs — Royce Small-Cap Value Fund, Service Class
Data updated: 2026-08-11
The net expense ratio is 1.49%: a 1.00% management fee, a 0.25% 12b-1 fee plus 0.37% other expenses, less a 0.13% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $132K in broker commissions, 0.1345% of average net assets, and portfolio turnover was 51%.
RYVFX Fees and Expenses
Annual operating expenses and sales charges of RYVFX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.37% |
| Gross expense ratio | 1.62% |
| Fee waiver | −0.13% |
| Net expense ratio | 1.49% |
| 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 |
RYVFX Costs Over Time
On $10,000 invested in RYVFX, assuming 5% a year before costs, total costs come to $1,004 over 5 years, cutting the return by 1.71% 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 1.49%) | $156 | $485 | $836 |
| Trading costs (broker commissions) | $14 | $44 | $75 |
| Lost growth on money paid in costs | $0 | $26 | $93 |
| Total costs | $171 | $555 | $1,004 |
| Value after costs | $10,329 | $11,021 | $11,759 |
| Impact on return, per year | 1.71% | 1.71% | 1.71% |
RYVFX 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): 0.1345%
- Total broker commissions: $132K
- Bought from dealers (principal trades, not a cost): $397.1M
- Portfolio turnover (prospectus): 51%
- Securities on loan, average value: $627K
- Net income from securities lending: $3K (0.003% of average net assets)
RYVFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Liquidnet, Inc. | $17K | 18.40% |
| State Street Global Markets, LLC | $13K | 13.45% |
| Stifel, Nicolaus & Company, Incorporated | $12K | 12.74% |
| Wall Street Access Corporation | $11K | 11.13% |
| BofA Securities, Inc. | $10K | 10.81% |
| UBS Securities LLC | $10K | 10.38% |
| Stephens Inc. | $9K | 9.18% |
| O'Neil Securities, Incorporated | $5K | 5.47% |
| Raymond James & Associates, Inc. | $4K | 4.26% |
| GFI Securities LLC | $4K | 4.19% |
RYVFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $397.1M | 100.00% |
Royce Small-Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| RVVHX | Investment Class | 1.24% | none |
| RYVFX | Service Class | 1.49% | 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.