# Royce Small-Cap Special Equity Fund Service Class (RSEFX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/rsefx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: — · Asset class: Equity - Strategy: Actively Managed · Inception: 2003-10-02 The fund's investment adviser invests the fund's assets primarily in equity securities of small-cap companies. The fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the fund normally focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in securities of companies headquartered in foreign countries. ## Key Facts | Metric | Value | |---|---| | Price | $17.09 | | Expense Ratio | 1.49% | | AUM (All Share Classes) | $1.11B | | NAV | $17.09 (2026-10-29 close) | | Holdings Count | — | | Distribution Yield (TTM) | 9.83% | | Annual Distribution (TTM) | $1.68 /share | | Distribution Frequency | Annual | | 52-Week Range | $14.05 – $18.47 | | Beta | 0.75 | ## Latest Distribution - Amount: $1.6801 /share - Ex-date: 2025-12-11 - Pay date: 2025-12-11 ## Frequently Asked Questions ### What does RSEFX invest in? The fund's investment adviser invests the fund's assets primarily in equity securities of small-cap companies. The fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the fund normally focuses on securities of U.S. companies, it may invest up to 10% of its net assets (measured at the time of investment) in securities of companies headquartered in foreign countries. ### What is the expense ratio of RSEFX? Royce Small-Cap Special Equity Fund Service Class (RSEFX) charges an expense ratio of 1.49%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is RSEFX? Royce Small-Cap Special Equity Fund Service Class (RSEFX) is one share class of a fund that manages $1.11B across all of its share classes (RYSEX reports the same total). Our data does not carry the assets of this share class alone. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is RSEFX actively managed or an index fund? RSEFX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (RSEFX's is 1.49%) in exchange for the discretion to over- or under-weight positions. ### When was RSEFX launched? Royce Small-Cap Special Equity Fund Service Class (RSEFX) launched in October 2003 and is managed by the fund issuer. ### How has RSEFX performed? RSEFX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does RSEFX pay a dividend? Royce Small-Cap Special Equity Fund Service Class (RSEFX) currently distributes little or no income. Trailing-twelve-month yield is 9.83%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does RSEFX pay dividends? Royce Small-Cap Special Equity Fund Service Class pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is RSEFX's dividend yield? RSEFX's trailing-twelve-month yield is 9.83%, calculated from the sum of dividends over the past year divided by the current price. ### When is RSEFX's next ex-dividend date? The most recently announced ex-dividend date for RSEFX was 2025-12-11. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will RSEFX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.49% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does RSEFX charge its expense ratio? The expense ratio is deducted in tiny daily slices from RSEFX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does RSEFX cost more than a fund like VOO? RSEFX is actively managed (current expense ratio 1.49%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether RSEFX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to RSEFX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as RSEFX (1.49%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/rsefx - Distribution history: https://www.dividenddata.com/funds/rsefx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/rsefx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/rsefx/expenses - Peer comparison: https://www.dividenddata.com/funds/rsefx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.