Fund Evaluator:

RBC International Small Cap Equity I Overview

RBC International Small Cap Equity I (RISIX) is an actively managed International Equity Foreign Small/Mid Growth fund. RBC Global Asset Management. launched the fund in 2022.

The investment seeks to provide long-term capital growth. The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in equity securities of small companies located throughout the world, excluding the United States. The equity securities in which the fund may invest include common stock, preferred stock, convertible securities, American Depositary Receipts, European Depositary Receipts, Global Depositary Receipts, participation notes, warrants and rights.

About RBC International Small Cap Equity I (RISIX)

There are 1 members of the management team with an average tenure of 3.63 years: David Lambert (2022). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and MSCI ACWI Ex USA Small NR USD index with a weighting of 100%. RBC International Small Cap Equity I has 100 securities in its portfolio. The top 10 holdings constitute 23.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

RBC International Small Cap Equity I is part of the Equity global asset class and is within the International Equity fund group. RBC International Small Cap Equity I has 91.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 7.1%. There is 91.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). RBC International Small Cap Equity I has 1.6% of the portfolio in cash.

Assets Under Management

The fund has $5 million in total assets, which is below the $319 million average for the Foreign Small/Mid Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

RISIX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The RBC International Small Cap Equity I expense ratio is high compared to funds in the Foreign Small/Mid Growth category. RBC International Small Cap Equity I has an expense ratio of 0.99%, which is 19% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. RBC International Small Cap Equity I has a portfolio turnover rate of 82%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Foreign Small/Mid Growth category.

Recently, in the month of July 2026, RBC International Small Cap Equity I returned -8.5%, which earned it a grade of F, as the Foreign Small/Mid Growth category had an average return of -1.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

RBC International Small Cap Equity I has a trailing yield of 1.90%, which is above the 1.43% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

RBC International Small Cap Equity I Grades

Year to date, the fund has returned 7.8%, 1.0 percentage points better than the category, which translates into a grade of B. The fund has returned 7.4% over the past year (grade of D) and 14.1% over the past three years (grade of A).

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