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Performance


Equity Funds - A Shares


Without Sales Charges
Total
Returns

Average Annual Total Returns
Gross
Expense
Ratio1
Net
Expense
Ratio2
Quarter End
% As Of 9/30/14
YTD
Return
1
Year
3
Year
5
Year
10
Year
Since
Inception
Enterprise (4/19/2004) -9.40 -2.62 21.85 14.07 6.58 10.68 1.701.33
Russell 2000 Index  -4.41 3.93 21.26 14.29 8.19 - --
Microcap Value (4/19/2004) -3.37 7.09 23.82 15.67 7.71 9.40 1.651.32
Russell 2000 Value Index  -4.74 4.13 20.61 13.02 7.25 - --
SMID Cap Growth (12/31/1990) -4.24 3.90 18.54 16.39 8.04 11.03 1.471.10
Russell 2500 Growth Index  -0.41 8.05 22.68 16.85 10.10 - --
Small Cap Core (4/19/2004) -3.68 3.05 21.33 15.99 8.39 10.54 1.641.16
Russell 2000 Index  -4.41 3.93 21.26 14.29 8.19 - --
EM Equity Fund (12/20/2013) 7.10 - - - - 8.60 5.741.45
MSCI Emerging Markets Net Index  2.43 4.30 7.19 4.42 10.68 - --
EM Small Cap Fund (12/20/2013) 7.68 - - - - 9.40 6.221.91
MSCI Emerging Markets Small Cap Net Index  7.48 8.84 9.66 6.66 - - --

Equity Funds - A Shares


With Sales Charges
Total
Returns

Average Annual Total Returns
Gross
Expense
Ratio1
Net
Expense
Ratio2
Quarter End
% As Of 9/30/14
YTD
Return
1
Year
3
Year
5
Year
10
Year
Since
Inception
Enterprise (4/19/2004) -14.60 -8.23 19.47 12.72 5.95 10.47 1.70 1.33
Russell 2000 Index  -4.41 3.93 21.26 14.29 8.19 - - -
Microcap Value (4/19/2004) -8.91 0.94 21.41 14.31 7.08 9.16 1.65 1.32
Russell 2000 Value Index  -4.74 4.13 20.61 13.02 7.25 - - -
SMID Cap Growth (12/31/1990) -9.72 -2.06 16.21 15.02 7.40 10.75 1.47 1.10
Russell 2500 Growth Index  -0.41 8.05 22.68 16.85 10.10 - - -
Small Cap Core (4/19/2004) -9.21 -2.86 18.96 14.62 7.75 10.26 1.64 1.16
Russell 2000 Index  -4.41 3.93 21.26 14.29 8.19 - - -
EM Equity Fund (12/20/2013) 0.93 - - - - 2.36 5.74 1.45
MSCI Emerging Markets Net Index  2.43 4.30 7.19 4.42 10.68 - - -
EM Small Cap Fund (12/20/2013) 1.48 - - - - 3.11 6.22 1.91
MSCI Emerging Markets Small Cap Net Index  7.48 8.84 9.66 6.66 - - - -
The Funds expenses reflect the most recent fiscal year-end. 

2 The Adviser has contractually agreed to waive fees and/or pay operating expenses in order to limit the Fund’s total operating expenses to the expense ratio listed under Net Expense Ratio until July 31, 2015.  

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be found by clicking on one of the Funds above and choosing the Performance tab or by calling 800-422-2766.

The advisor has contractually agreed to waive fees and/or pay operating expenses through January 31, 2015.

Class A shares reflect a maximum 5.75% sales charge. Performance information does not reflect the 2% fee on shares redeemed or exchanged within 30 days of purchase. If the sales charge or redemption fee was included, performance would be reduced.

All performance shown for each class of shares prior to each respective inception date is based on the performance of a class of shares that is no longer offered, adjusted to reflect fees, expenses, and maximum applicable sales charges.

The performance for the period from June 1, 1994 to April 19, 2004 for SMID Cap Growth Fund reflects the performance of the Mid Cap Equity Fund, the predecessor to SMID Cap Growth Fund. The performance of SMID Cap Growth Fund also includes the performance of a common trust fund (“CTF”) account adviser by RBC GAM-US (including its predecessor) and managed the same as the Fund in all material respects for the period from December 31, 1990 to June 1, 1994, as adjusted to reflect the full contractual rate of expenses associated with the Fund at its inception.

Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced.

Investing in mid, small, and microcap companies involves additional risks, including greater fluctuations in value and less liquidity than larger companies. The EM Equity Fund, EM Small Cap Fund, and Mid Cap Value Funds invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks can be greater in emerging markets. These risks are more fully described in the prospectus.

The Russell 2000 Index consists of the smallest 2,000 companies in a group of 3,000 U.S. companies in the Russell 3000 Index, as ranked by market capitalization. The Russell 2000 Value Index measures the performance of small-cap value segment of the U.S. equity universe and is constructed to provide a comprehensive and unbiased barometer for the small-cap value segment. The Russell 2500 Growth Index measures the performance of the small to mid cap growth segment of the U.S. equity universe. The MSCI Emerging Markets Net Index (USD) is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The MSCI Emerging Markets Small Cap Net Index (USD) includes small cap representation across 21 Emerging Markets countries. The index covers approximately 14% of the free float-adjusted market capitalization in each country. The small cap segment tends to capture more local economic and sector characteristics relative to larger Emerging Markets capitalization segments.You cannot invest directly in an index.

Before investing, you should carefully consider a fund’s investment objectives, risks, charges and expenses. This and other information is included in the prospectus, which you can request by visiting /mutual-funds/literature/content/default.fs or calling 800.422.2766. Please read the prospectus carefully before investing.

RBC Global Asset Management (U.S.) Inc. serves as investment adviser for RBC Funds. The RBC Funds are distributed by Quasar Distributors, LLC.

NOT FDIC INSURED. NO BANK GUARANTEE. MAY LOSE VALUE.




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