VBCVX vs. MALVX

Last updated Jul 14, 2026

VBCVX (VALIC Company I Systematic Value Fund) and MALVX (BlackRock Advantage Large Cap Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, VBCVX returned 10.47%/yr vs 12.80%/yr for MALVX. With a 0.95 correlation, they move nearly in lockstep. VBCVX charges 0.48%/yr vs 0.54%/yr for MALVX.

Performance

VBCVX vs. MALVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VALIC Company I Systematic Value Fund (VBCVX) and BlackRock Advantage Large Cap Value Fund (MALVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VBCVX achieves a 17.10% return, which is significantly lower than MALVX's 20.54% return. Over the past 10 years, VBCVX has underperformed MALVX with an annualized return of 10.47%, while MALVX has yielded a comparatively higher 12.80% annualized return.

VBCVX

• 1D: 0.11%
• 1M: 2.70%
• 6M: 14.34%
• YTD: 17.10%
• 1Y: 26.88%
• 3Y*: 16.50%
• 5Y*: 11.03%
• 10Y*: 10.47%

MALVX

• 1D: 0.23%
• 1M: 2.32%
• 6M: 16.81%
• YTD: 20.54%
• 1Y: 34.56%
• 3Y*: 20.87%
• 5Y*: 12.75%
• 10Y*: 12.80%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VBCVX vs. MALVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBCVX VALIC Company I Systematic Value Fund	17.10%	10.37%	16.75%	11.06%	-6.57%	31.26%	-2.16%	23.66%	-17.02%	18.17%
MALVX BlackRock Advantage Large Cap Value Fund	20.54%	18.38%	15.39%	13.74%	-8.68%	26.51%	3.91%	24.74%	-7.74%	15.82%

Correlation

The correlation between VBCVX and MALVX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 7, 2005	0.95

The correlation between VBCVX and MALVX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

VBCVX vs. MALVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VBCVX

VBCVX Risk / Return Rank: 88
VBCVX Sharpe Ratio Rank: 88
VBCVX Sortino Ratio Rank: 85
VBCVX Omega Ratio Rank: 81
VBCVX Calmar Ratio Rank: 92
VBCVX Martin Ratio Rank: 94

MALVX

MALVX Risk / Return Rank: 95
MALVX Sharpe Ratio Rank: 97
MALVX Sortino Ratio Rank: 95
MALVX Omega Ratio Rank: 90
MALVX Calmar Ratio Rank: 97
MALVX Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VBCVX vs. MALVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VALIC Company I Systematic Value Fund (VBCVX) and BlackRock Advantage Large Cap Value Fund (MALVX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	VBCVX	MALVX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	3.02	-0.68
Sortino ratio: Return per unit of downside risk	3.27	4.23	-0.95
Omega ratio: Gain probability vs. loss probability	1.41	1.55	-0.14
Calmar ratio: Return relative to maximum drawdown	3.89	5.23	-1.34
Martin ratio: Return relative to average drawdown	15.79	23.76	-7.97

VBCVX vs. MALVX - Sharpe Ratio Comparison

The current VBCVX Sharpe Ratio is 2.34, which is comparable to the MALVX Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of VBCVX and MALVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VBCVX vs. MALVX - Drawdown Comparison

The maximum VBCVX drawdown since its inception was -58.88%, which is greater than MALVX's maximum drawdown of -55.21%. Use the drawdown chart below to compare losses from any high point for VBCVX and MALVX.

Drawdown Indicators

	VBCVX	MALVX	Difference
Max Drawdown Largest peak-to-trough decline	-58.88%	-55.21%	-3.67%
Max Drawdown (1Y) Largest decline over 1 year	-6.73%	-6.53%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-19.90%	-16.13%	-3.77%
Max Drawdown (5Y) Largest decline over 5 years	-19.90%	-19.73%	-0.17%
Max Drawdown (10Y) Largest decline over 10 years	-40.12%	-37.12%	-3.00%
Current Drawdown Current decline from peak	-0.28%	-0.10%	-0.18%
Average Drawdown Average peak-to-trough decline	-10.95%	-8.72%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	1.44%	+0.22%

Volatility

VBCVX vs. MALVX - Volatility Comparison

VALIC Company I Systematic Value Fund (VBCVX) and BlackRock Advantage Large Cap Value Fund (MALVX) have volatilities of 3.96% and 4.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBCVX	MALVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	4.15%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	8.65%	8.91%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	11.17%	11.29%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.04%	14.81%	+0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.51%	17.24%	+0.27%

VBCVX vs. MALVX - Expense Ratio Comparison

VBCVX has a 0.48% expense ratio, which is lower than MALVX's 0.54% expense ratio.

Dividends

VBCVX vs. MALVX - Dividend Comparison

VBCVX's dividend yield for the trailing twelve months is around 7.90%, more than MALVX's 7.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MALVX BlackRock Advantage Large Cap Value Fund	7.66%	9.23%	14.33%	2.84%	5.96%	17.48%	1.68%	3.92%	12.95%	0.43%	1.38%	1.01%
VBCVX VALIC Company I Systematic Value Fund	7.90%	0.00%	1.61%	7.29%	4.41%	19.32%	13.79%	10.74%	1.92%	4.14%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VBCVX and MALVX in my portfolio?

With a correlation of 0.95, VBCVX and MALVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VBCVX or MALVX?

MALVX has higher volatility (4.15%) compared to VBCVX (3.96%). In terms of maximum drawdown, VBCVX dropped -58.88% vs MALVX's -55.21%.

Which has better risk-adjusted returns?

MALVX currently has the higher Sharpe Ratio (3.02 vs 2.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.