VCGAX vs. VBCVX

Last updated Jun 4, 2026

VCGAX (VALIC Company I Systematic Core Fund) and VBCVX (VALIC Company I Systematic Value Fund) are both mutual funds - VCGAX is a Large Cap Blend Equities fund managed by VALIC, while VBCVX is a Large Cap Value Equities fund managed by VALIC. Over the past 10 years, VCGAX returned 13.43%/yr vs 10.11%/yr for VBCVX. Their correlation of 0.92 suggests significant overlap in exposure. VCGAX charges 0.63%/yr vs 0.48%/yr for VBCVX.

Performance

VCGAX vs. VBCVX - Performance Comparison

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

Returns By Period

In the year-to-date period, VCGAX achieves a 7.11% return, which is significantly lower than VBCVX's 12.51% return. Over the past 10 years, VCGAX has outperformed VBCVX with an annualized return of 13.43%, while VBCVX has yielded a comparatively lower 10.11% annualized return.

VCGAX

• 1D: -0.13%
• 1M: 3.53%
• YTD: 7.11%
• 6M: 7.31%
• 1Y: 21.70%
• 3Y*: 17.56%
• 5Y*: 10.27%
• 10Y*: 13.43%

VBCVX

• 1D: 0.47%
• 1M: 5.21%
• YTD: 12.51%
• 6M: 13.54%
• 1Y: 25.85%
• 3Y*: 16.79%
• 5Y*: 10.20%
• 10Y*: 10.11%

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

VCGAX vs. VBCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCGAX VALIC Company I Systematic Core Fund	7.11%	9.41%	23.14%	23.94%	-18.71%	26.34%	24.07%	30.50%	-8.98%	21.09%
VBCVX VALIC Company I Systematic Value Fund	12.51%	10.37%	16.75%	11.06%	-6.57%	31.26%	-2.16%	23.66%	-17.02%	18.17%

Correlation

The correlation between VCGAX and VBCVX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 8, 2005	0.92

The correlation between VCGAX and VBCVX shifts across timeframes, from 0.79 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VCGAX vs. VBCVX — Risk / Return Rank

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

VCGAX

VCGAX Risk / Return Rank: 44
VCGAX Sharpe Ratio Rank: 45
VCGAX Sortino Ratio Rank: 46
VCGAX Omega Ratio Rank: 42
VCGAX Calmar Ratio Rank: 40
VCGAX Martin Ratio Rank: 50

VBCVX

VBCVX Risk / Return Rank: 75
VBCVX Sharpe Ratio Rank: 74
VBCVX Sortino Ratio Rank: 70
VBCVX Omega Ratio Rank: 62
VBCVX Calmar Ratio Rank: 84
VBCVX Martin Ratio Rank: 85

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.

VCGAX vs. VBCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VALIC Company I Systematic Core Fund (VCGAX) and VALIC Company I Systematic Value Fund (VBCVX). 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.

	VCGAX	VBCVX	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.50	-0.52
Sortino ratio: Return per unit of downside risk	2.85	3.51	-0.66
Omega ratio: Gain probability vs. loss probability	1.35	1.44	-0.09
Calmar ratio: Return relative to maximum drawdown	2.38	3.95	-1.57
Martin ratio: Return relative to average drawdown	10.28	16.11	-5.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCGAX vs. VBCVX - Sharpe Ratio Comparison

The current VCGAX Sharpe Ratio is 1.98, which is comparable to the VBCVX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of VCGAX and VBCVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VCGAX	VBCVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.50	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.68	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.58	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.34	-0.10

Drawdowns

VCGAX vs. VBCVX - Drawdown Comparison

The maximum VCGAX drawdown since its inception was -71.37%, which is greater than VBCVX's maximum drawdown of -58.88%. Use the drawdown chart below to compare losses from any high point for VCGAX and VBCVX.

Drawdown Indicators

	VCGAX	VBCVX	Difference
Max Drawdown Largest peak-to-trough decline	-71.37%	-58.88%	-12.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-6.73%	-2.82%
Max Drawdown (3Y) Largest decline over 3 years	-22.35%	-19.90%	-2.45%
Max Drawdown (5Y) Largest decline over 5 years	-24.90%	-19.90%	-5.00%
Max Drawdown (10Y) Largest decline over 10 years	-34.41%	-40.12%	+5.71%
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-25.26%	-11.00%	-14.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	1.65%	+0.56%

Volatility

VCGAX vs. VBCVX - Volatility Comparison

VALIC Company I Systematic Core Fund (VCGAX) and VALIC Company I Systematic Value Fund (VBCVX) have volatilities of 2.79% and 2.91%, 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

	VCGAX	VBCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	2.91%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	8.79%	8.01%	+0.78%
Volatility (1Y) Calculated over the trailing 1-year period	11.52%	10.62%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	15.02%	+1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	17.61%	+0.78%

VCGAX vs. VBCVX - Expense Ratio Comparison

VCGAX has a 0.63% expense ratio, which is higher than VBCVX's 0.48% expense ratio.

Dividends

VCGAX vs. VBCVX - Dividend Comparison

VCGAX's dividend yield for the trailing twelve months is around 6.33%, less than VBCVX's 8.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBCVX VALIC Company I Systematic Value Fund	8.22%	0.00%	1.61%	7.29%	4.41%	19.32%	13.79%	10.74%	1.92%	4.14%
VCGAX VALIC Company I Systematic Core Fund	6.33%	0.00%	1.69%	4.83%	0.79%	9.20%	10.09%	10.41%	1.01%	3.82%

Frequently Asked Questions

Can I hold both VCGAX and VBCVX in my portfolio?

VCGAX and VBCVX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VCGAX or VBCVX?

VBCVX has higher volatility (2.91%) compared to VCGAX (2.79%). In terms of maximum drawdown, VCGAX dropped -71.37% vs VBCVX's -58.88%.

Which has better risk-adjusted returns?

VBCVX currently has the higher Sharpe Ratio (2.50 vs 1.98), 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.