Royce Small-Cap Trust Posts 35.9% One-Year NAV Return at 8.6% Discount
RVT•Royce Small-Cap Trust trades at an 8.6% discount with NAV at $20.31 and market price at $18.56, supported by $2.5 billion in net assets and average weekly volume of 773,762 shares. The fund delivered a 35.93% NAV total return over one year and 16.94% year-to-date.
1. Market Price and NAV Discount
Royce Small-Cap Trust’s shares closed at $18.56 on May 31, 2026, compared with an NAV of $20.31, implying an 8.6% discount. The fund averages weekly trading volume of approximately 773,762 shares, reflecting solid liquidity.
2. Total Return Performance
Over the one-year period ending May 31, 2026, the fund achieved a 35.93% NAV total return and 36.51% market total return. Year-to-date NAV return stands at 16.94% versus a 17.41% market return, with a one-month NAV gain of 2.06%.
3. Portfolio Characteristics
Net assets total $2.50 billion, with a geometric average market capitalization of $3.86 billion. The portfolio’s weighted average price-to-earnings ratio is 19.6x and weighted average price-to-book ratio is 2.6x, excluding companies with zero or negative earnings.
4. Holdings and Sector Allocation
Top 10 positions include IES Holdings (3.4%), APi Group (1.1%), Quaker Houghton (1.1%), Arcosa (1.0%) and Assured Guaranty (1.0%). Sector weights concentrate in Industrials (26.7%), Financials (19.1%), Information Technology (15.3%), Consumer Discretionary (9.4%) and Health Care (8.2%).
