VCNIX vs. VBCVX

Last updated Jun 4, 2026

VCNIX (VALIC Company I Nasdaq-100 Index Fund) and VBCVX (VALIC Company I Systematic Value Fund) are both mutual funds - VCNIX is a Large Cap Growth Equities fund managed by VALIC, while VBCVX is a Large Cap Value Equities fund managed by VALIC. Over the past 10 years, VCNIX returned 18.59%/yr vs 10.11%/yr for VBCVX. A 0.74 correlation means they provide meaningful diversification when combined. VCNIX charges 0.45%/yr vs 0.48%/yr for VBCVX.

Performance

VCNIX vs. VBCVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VALIC Company I Nasdaq-100 Index Fund (VCNIX) 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, VCNIX achieves a 21.53% return, which is significantly higher than VBCVX's 12.51% return. Over the past 10 years, VCNIX has outperformed VBCVX with an annualized return of 18.59%, while VBCVX has yielded a comparatively lower 10.11% annualized return.

VCNIX

• 1D: 0.50%
• 1M: 10.94%
• YTD: 21.53%
• 6M: 19.86%
• 1Y: 41.89%
• 3Y*: 19.90%
• 5Y*: 13.30%
• 10Y*: 18.59%

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)

VCNIX vs. VBCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCNIX VALIC Company I Nasdaq-100 Index Fund	21.53%	-2.43%	25.36%	54.21%	-32.55%	26.89%	48.24%	38.63%	-4.76%	32.35%
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 VCNIX and VBCVX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Dec 8, 2005	0.74

The correlation between VCNIX and VBCVX shifts across timeframes, from 0.56 (3 years) to 0.74 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VCNIX vs. VBCVX — Risk / Return Rank

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

VCNIX

VCNIX Risk / Return Rank: 77
VCNIX Sharpe Ratio Rank: 86
VCNIX Sortino Ratio Rank: 77
VCNIX Omega Ratio Rank: 70
VCNIX Calmar Ratio Rank: 79
VCNIX Martin Ratio Rank: 73

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.

VCNIX vs. VBCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VALIC Company I Nasdaq-100 Index Fund (VCNIX) 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.

	VCNIX	VBCVX	Difference
Sharpe ratio: Return per unit of total volatility	2.78	2.50	+0.28
Sortino ratio: Return per unit of downside risk	3.67	3.51	+0.16
Omega ratio: Gain probability vs. loss probability	1.47	1.44	+0.03
Calmar ratio: Return relative to maximum drawdown	3.61	3.95	-0.34
Martin ratio: Return relative to average drawdown	13.91	16.11	-2.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCNIX vs. VBCVX - Sharpe Ratio Comparison

The current VCNIX Sharpe Ratio is 2.78, which is comparable to the VBCVX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of VCNIX 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

	VCNIX	VBCVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.78	2.50	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.68	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.58	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.34	-0.08

Drawdowns

VCNIX vs. VBCVX - Drawdown Comparison

The maximum VCNIX drawdown since its inception was -76.68%, which is greater than VBCVX's maximum drawdown of -58.88%. Use the drawdown chart below to compare losses from any high point for VCNIX and VBCVX.

Drawdown Indicators

	VCNIX	VBCVX	Difference
Max Drawdown Largest peak-to-trough decline	-76.68%	-58.88%	-17.80%
Max Drawdown (1Y) Largest decline over 1 year	-12.01%	-6.73%	-5.28%
Max Drawdown (3Y) Largest decline over 3 years	-37.53%	-19.90%	-17.63%
Max Drawdown (5Y) Largest decline over 5 years	-37.53%	-19.90%	-17.63%
Max Drawdown (10Y) Largest decline over 10 years	-37.53%	-40.12%	+2.59%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-28.74%	-11.00%	-17.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	1.65%	+1.46%

Volatility

VCNIX vs. VBCVX - Volatility Comparison

VALIC Company I Nasdaq-100 Index Fund (VCNIX) has a higher volatility of 4.51% compared to VALIC Company I Systematic Value Fund (VBCVX) at 2.91%. This indicates that VCNIX's price experiences larger fluctuations and is considered to be riskier than VBCVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCNIX	VBCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	2.91%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	12.17%	8.01%	+4.16%
Volatility (1Y) Calculated over the trailing 1-year period	15.64%	10.62%	+5.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.88%	15.02%	+9.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.74%	17.61%	+6.13%

VCNIX vs. VBCVX - Expense Ratio Comparison

VCNIX has a 0.45% expense ratio, which is lower than VBCVX's 0.48% expense ratio.

Dividends

VCNIX vs. VBCVX - Dividend Comparison

VCNIX's dividend yield for the trailing twelve months is around 8.34%, more 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%
VCNIX VALIC Company I Nasdaq-100 Index Fund	8.34%	0.00%	3.76%	10.90%	13.50%	7.28%	2.40%	1.57%	0.55%	4.57%

Frequently Asked Questions

Can I hold both VCNIX and VBCVX in my portfolio?

VCNIX and VBCVX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VCNIX or VBCVX?

VCNIX has higher volatility (4.51%) compared to VBCVX (2.91%). In terms of maximum drawdown, VCNIX dropped -76.68% vs VBCVX's -58.88%.

Which has better risk-adjusted returns?

VCNIX currently has the higher Sharpe Ratio (2.78 vs 2.50), 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.