Royce Small-Cap Opportunity Fund
RYPNX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 745 Fifth Avenue New York NY United States of America 10151
- IPO Date
- Nov 19, 1996
- CIK
- 0000709364
- Website
- royceinvest.com
- Similar Companies
- Business
- Royce Small-Cap Opportunity Fund (RYPNX) is a small-cap value mutual fund that employs an opportunistic investment approach, primarily investing in equity securities of small-cap companies with market capitalizations less than the largest stock in the Russell 2000 Index; the portfolio categorizes holdings into four key themes—Turnarounds, Unrecognized Asset Values, Undervalued Growth, and Interrupted Earnings—while identifying catalysts for future earnings growth such as new management, favorable business cycles, product innovation, or margin improvement. The fund maintains a diversified portfolio of approximately 214 holdings, with a weighted average market capitalization of $1.51 billion, total net assets of $1.12 billion as of September 30, 2025, and a portfolio turnover rate of 35%; asset allocation includes 91.36% in U.S. investments and 8.64% in non-U.S. investments, targeting sectors like industrials, information technology, financials, and consumer discretionary. It offers multiple share classes including Investment (RYPNX), Service (RYOFX), Consultant (ROFCX), Institutional (ROFIX), and R (ROFRX), with no dividend frequency and a net expense ratio of approximately 1.22% for the Investment class. Managed by Royce Investment Partners, a pioneer in small-cap investing with over 45 years of experience now operating as a majority-owned indirect subsidiary of Franklin Templeton following the 2020 acquisition of Legg Mason (which held an ownership interest in Royce), the fund is headquartered in New York and serves individual investors, financial advisors, and institutions across the United States. The current management team, led by James Stoeffel, Brendan Hartman, and James Harvey since April 21, 2021, with Kavitha Venkatraman joining on October 4, 2021, benchmarks performance against the Russell 2000 Value Index and Russell 2000 Index; the fund's share class inception dates back to November 19, 1996, with the fund itself launching on May 4, 2007. In recent years, Royce Investment Partners has undergone significant strategic integration with Franklin Templeton, enhancing distribution and operational capabilities for its small-cap strategies, including RYPNX, through Franklin Templeton's global platform as of 2025; portfolio insights from October 2025 highlight commentary on U.S. small-cap outperformance, AI-related risks and opportunities, value-led periods favoring active management, and undiscovered connections in the asset class. Manager transitions in 2021, including Stoeffel's expanded role, have stabilized the team amid broader Royce lineup adjustments, contributing to competitive risk-adjusted returns with a Morningstar rating of 3 stars in the Small Value category as of October 31, 2025. The fund continues to emphasize long-term capital growth, with average annual total returns of 20.23% (1-year), 13.82% (3-year), and 16.60% (5-year) as of October 31, 2025, outperforming the Russell 2000 Value Index in most rolling periods.