Royce Global Value Trust is a closed-end fund dedicated to investing in both U.S. and non-U.S. small-cap stocks. The fund has a core approach that offers wide exposure to both U.S. and non-U.S. small/mid-cap stocks (generally market caps up to $10 billion). The fund outperformed its benchmark, the MSCI ACWI Small Cap Index, for the 1-, 3-, and 5-year periods ended 12/31/20.