Royce Small-Cap Opportunity Fund FY 2025 Manager Commentary

The Royce Funds118 FollowersFollow5ShareSavePlay(15min)CommentsSummaryOur theme-based Fund advanced 11.9% in 2025, trailing its benchmark, Russell 2000 Value Index, which was up 12.6% for the same period.Relative results over long-term periods were better: the Fund beat its benchmark for the 3-, 5-, 10-, 15-, 20-, 25-year, and since inception (11/19/96) periods ended 12/31/25.We think the most compelling case for small-cap leadership in 2026 comes from a relatively rare and promising confluence of factors. syahrir maulana/iStock via Getty Images Fund Performance Royce Small-Cap Opportunity Fund advanced 11.9% in 2025, trailing its benchmark, Russell 2000 Value Index, which was up 12.6% for the same period. Relative results over long-term periods were better: the Fund beatThis article was written byThe Royce Funds118 FollowersFollowThe Royce Funds is a small-cap specialist with unparalleled knowledge and experience, offering distinct investment approaches to meet a variety of investors’ goals.