VCIEX vs. VCFVX

Last updated Jun 3, 2026

VCIEX (VALIC Company I International Equities Index Fund) and VCFVX (VALIC Company I International Value) are both Foreign Large Cap Equities funds from VALIC. Over the past 10 years, VCIEX returned 8.24%/yr vs 7.59%/yr for VCFVX. Their correlation of 0.94 suggests significant overlap in exposure. VCIEX charges 0.42%/yr vs 0.74%/yr for VCFVX.

Performance

VCIEX vs. VCFVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VALIC Company I International Equities Index Fund (VCIEX) and VALIC Company I International Value (VCFVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VCIEX having a 8.68% return and VCFVX slightly lower at 8.41%. Over the past 10 years, VCIEX has outperformed VCFVX with an annualized return of 8.24%, while VCFVX has yielded a comparatively lower 7.59% annualized return.

VCIEX

• 1D: -0.77%
• 1M: 2.09%
• YTD: 8.68%
• 6M: 11.79%
• 1Y: 20.78%
• 3Y*: 14.41%
• 5Y*: 6.98%
• 10Y*: 8.24%

VCFVX

• 1D: -0.81%
• 1M: 0.60%
• YTD: 8.41%
• 6M: 12.33%
• 1Y: 26.57%
• 3Y*: 16.91%
• 5Y*: 7.25%
• 10Y*: 7.59%

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

VCIEX vs. VCFVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCIEX VALIC Company I International Equities Index Fund	8.68%	24.75%	3.15%	17.20%	-14.40%	11.04%	7.54%	21.24%	-13.74%	24.36%
VCFVX VALIC Company I International Value	8.41%	26.65%	8.44%	14.26%	-10.88%	7.05%	5.04%	16.37%	-17.81%	17.01%

Correlation

The correlation between VCIEX and VCFVX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 9, 2005	0.94

The correlation between VCIEX and VCFVX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

VCIEX vs. VCFVX — Risk / Return Rank

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

VCIEX

VCIEX Risk / Return Rank: 27
VCIEX Sharpe Ratio Rank: 26
VCIEX Sortino Ratio Rank: 27
VCIEX Omega Ratio Rank: 27
VCIEX Calmar Ratio Rank: 26
VCIEX Martin Ratio Rank: 30

VCFVX

VCFVX Risk / Return Rank: 43
VCFVX Sharpe Ratio Rank: 48
VCFVX Sortino Ratio Rank: 46
VCFVX Omega Ratio Rank: 46
VCFVX Calmar Ratio Rank: 38
VCFVX Martin Ratio Rank: 38

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.

VCIEX vs. VCFVX - 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 International Value (VCFVX). 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.

	VCIEX	VCFVX	Difference
Sharpe ratio Return per unit of total volatility	1.49	2.03	-0.54
Sortino ratio Return per unit of downside risk	2.20	2.84	-0.64
Omega ratio Gain probability vs. loss probability	1.27	1.37	-0.10
Calmar ratio Return relative to maximum drawdown	1.94	2.37	-0.42
Martin ratio Return relative to average drawdown	7.11	8.45	-1.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCIEX vs. VCFVX - Sharpe Ratio Comparison

The current VCIEX Sharpe Ratio is 1.49, which is comparable to the VCFVX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of VCIEX and VCFVX, 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

	VCIEX	VCFVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	2.03	-0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.47	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.45	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.15	-0.10

Drawdowns

VCIEX vs. VCFVX - Drawdown Comparison

The maximum VCIEX drawdown since its inception was -75.07%, which is greater than VCFVX's maximum drawdown of -67.44%. Use the drawdown chart below to compare losses from any high point for VCIEX and VCFVX.

Drawdown Indicators

	VCIEX	VCFVX	Difference
Max Drawdown Largest peak-to-trough decline	-75.07%	-67.44%	-7.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.45%	-11.50%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-18.31%	-19.59%	+1.28%
Max Drawdown (5Y) Largest decline over 5 years	-29.28%	-29.92%	+0.64%
Max Drawdown (10Y) Largest decline over 10 years	-34.20%	-44.63%	+10.43%
Current Drawdown Current decline from peak	-1.48%	-3.63%	+2.15%
Average Drawdown Average peak-to-trough decline	-37.49%	-24.11%	-13.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	3.22%	-0.09%

Volatility

VCIEX vs. VCFVX - Volatility Comparison

VALIC Company I International Equities Index Fund (VCIEX) has a higher volatility of 4.52% compared to VALIC Company I International Value (VCFVX) at 3.92%. This indicates that VCIEX's price experiences larger fluctuations and is considered to be riskier than VCFVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCIEX	VCFVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	3.92%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	12.06%	11.04%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	14.46%	13.51%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	15.66%	+0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	16.79%	+0.06%

VCIEX vs. VCFVX - Expense Ratio Comparison

VCIEX has a 0.42% expense ratio, which is lower than VCFVX's 0.74% expense ratio.

Dividends

VCIEX vs. VCFVX - Dividend Comparison

VCIEX's dividend yield for the trailing twelve months is around 6.36%, less than VCFVX's 8.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCFVX VALIC Company I International Value	8.23%	0.00%	1.66%	8.36%	1.90%	1.59%	2.37%	2.77%	2.31%	1.74%
VCIEX VALIC Company I International Equities Index Fund	6.36%	0.00%	2.41%	2.37%	3.14%	1.60%	4.08%	3.16%	2.27%	2.31%

Frequently Asked Questions

Can I hold both VCIEX and VCFVX in my portfolio?

With a correlation of 0.93, VCIEX and VCFVX 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, VCIEX or VCFVX?

VCIEX has higher volatility (4.52%) compared to VCFVX (3.92%). In terms of maximum drawdown, VCIEX dropped -75.07% vs VCFVX's -67.44%.

Which has better risk-adjusted returns?

VCFVX currently has the higher Sharpe Ratio (2.03 vs 1.49), 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.