VCIEX vs. VAPPX
VCIEX (VALIC Company I International Equities Index Fund) and VAPPX (VALIC Company I Capital Appreciation Fund) are both mutual funds - VCIEX is a Foreign Large Cap Equities fund managed by VALIC, while VAPPX is a Large Cap Growth Equities fund managed by VALIC. Over the past 5 years, VCIEX returned 7.65%/yr vs 12.55%/yr for VAPPX. A 0.65 correlation means they provide meaningful diversification when combined. VCIEX charges 0.42%/yr vs 0.60%/yr for VAPPX.
Performance
VCIEX vs. VAPPX - Performance Comparison
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Returns By Period
In the year-to-date period, VCIEX achieves a 10.27% return, which is significantly higher than VAPPX's 6.00% return.
VCIEX
- 1D
- -0.10%
- 1M
- 1.66%
- YTD
- 10.27%
- 6M
- 9.83%
- 1Y
- 23.77%
- 3Y*
- 15.07%
- 5Y*
- 7.65%
- 10Y*
- 9.15%
VAPPX
- 1D
- -0.50%
- 1M
- 1.27%
- YTD
- 6.00%
- 6M
- 4.68%
- 1Y
- 21.51%
- 3Y*
- 21.73%
- 5Y*
- 12.55%
- 10Y*
- —
VCIEX vs. VAPPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VCIEX VALIC Company I International Equities Index Fund | 10.27% | 24.75% | 3.15% | 17.20% | -14.40% | -0.82% |
VAPPX VALIC Company I Capital Appreciation Fund | 6.00% | 11.88% | 31.97% | 40.53% | -25.71% | 11.78% |
Correlation
The correlation between VCIEX and VAPPX is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2021 | 0.65 |
The correlation between VCIEX and VAPPX has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.
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Return for Risk
VCIEX vs. VAPPX — Risk / Return Rank
VCIEX
VAPPX
VCIEX vs. VAPPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VALIC Company I International Equities Index Fund (VCIEX) and VALIC Company I Capital Appreciation Fund (VAPPX). 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.
| VCIEX | VAPPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.26 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 1.40 | +0.74 |
| Martin ratioReturn relative to average drawdown | 7.76 | 4.66 | +3.10 |
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Drawdowns
VCIEX vs. VAPPX - Drawdown Comparison
The maximum VCIEX drawdown since its inception was -75.07%, which is greater than VAPPX's maximum drawdown of -30.00%. Use the drawdown chart below to compare losses from any high point for VCIEX and VAPPX.
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Drawdown Indicators
| VCIEX | VAPPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.07% | -30.00% | -45.07% |
Max Drawdown (1Y)Largest decline over 1 year | -11.45% | -16.59% | +5.14% |
Max Drawdown (3Y)Largest decline over 3 years | -18.31% | -25.00% | +6.69% |
Max Drawdown (5Y)Largest decline over 5 years | -29.28% | -30.00% | +0.72% |
Max Drawdown (10Y)Largest decline over 10 years | -34.20% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -2.52% | +2.42% |
Average DrawdownAverage peak-to-trough decline | -37.42% | -8.26% | -29.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 4.97% | -1.82% |
Volatility
VCIEX vs. VAPPX - Volatility Comparison
The current volatility for VALIC Company I International Equities Index Fund (VCIEX) is 4.85%, while VALIC Company I Capital Appreciation Fund (VAPPX) has a volatility of 6.56%. This indicates that VCIEX experiences smaller price fluctuations and is considered to be less risky than VAPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCIEX | VAPPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.85% | 6.56% | -1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 12.71% | 12.70% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.96% | 16.00% | -1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.27% | 20.97% | -4.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.81% | 20.93% | -4.12% |
VCIEX vs. VAPPX - Expense Ratio Comparison
VCIEX has a 0.42% expense ratio, which is lower than VAPPX's 0.60% expense ratio.
Dividends
VCIEX vs. VAPPX - Dividend Comparison
VCIEX's dividend yield for the trailing twelve months is around 6.27%, more than VAPPX's 4.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VAPPX VALIC Company I Capital Appreciation Fund | 4.64% | 0.00% | 8.31% | 29.25% | 6.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCIEX VALIC Company I International Equities Index Fund | 6.27% | 0.00% | 2.41% | 2.37% | 3.14% | 1.60% | 4.08% | 3.16% | 2.27% | 2.31% |
Frequently Asked Questions
VCIEX and VAPPX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VAPPX has higher volatility (6.56%) compared to VCIEX (4.85%). In terms of maximum drawdown, VCIEX dropped -75.07% vs VAPPX's -30.00%.
VCIEX currently has the higher Sharpe Ratio (1.64 vs 1.46), 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.
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