VGREX vs. VCBCX

Last updated Aug 1, 2026

VGREX (VALIC Company I Global Real Estate Fund) and VCBCX (VALIC Company I Blue Chip Growth Fund) are both mutual funds - VGREX is a REIT fund managed by VALIC, while VCBCX is a Large Cap Growth Equities fund managed by VALIC. Over the past 10 years, VGREX returned 3.38%/yr vs 13.14%/yr for VCBCX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. VGREX charges 0.86%/yr vs 0.76%/yr for VCBCX.

Performance

VGREX vs. VCBCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VALIC Company I Global Real Estate Fund (VGREX) and VALIC Company I Blue Chip Growth Fund (VCBCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGREX achieves a 14.91% return, which is significantly higher than VCBCX's -1.67% return. Over the past 10 years, VGREX has underperformed VCBCX with an annualized return of 3.38%, while VCBCX has yielded a comparatively higher 13.14% annualized return.

VGREX

• 1D: -0.13%
• 1M: 2.73%
• 6M: 11.90%
• YTD: 14.91%
• 1Y: 19.46%
• 3Y*: 9.09%
• 5Y*: 0.83%
• 10Y*: 3.38%
• ALL TIME*: 0.42%

VCBCX

• 1D: 2.74%
• 1M: -1.82%
• 6M: 0.00%
• YTD: -1.67%
• 1Y: 8.27%
• 3Y*: 14.98%
• 5Y*: 5.15%
• 10Y*: 13.14%
• ALL TIME*: 6.84%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VCBCX VALIC Company I Blue Chip Growth Fund	$0.00	$0.00	$0.00
VGREX VALIC Company I Global Real Estate Fund	$0.00	$0.00	$0.00

VGREX vs. VCBCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGREX VALIC Company I Global Real Estate Fund	14.91%	5.83%	1.41%	9.90%	-25.89%	22.67%	-6.03%	24.50%	-7.18%	13.82%
VCBCX VALIC Company I Blue Chip Growth Fund	-1.67%	7.70%	34.71%	44.42%	-38.26%	16.36%	35.27%	29.63%	-3.72%	36.31%

Correlation

The correlation between VGREX and VCBCX is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (3Y) Balances recent behavior with more history.	0.34
Correlation (5Y) Shows whether the relationship held over a longer period.	0.49
Correlation (10Y) Provides a long-term view across more market conditions.	0.50
Correlation (All Time) Calculated using the full available price history since Apr 1, 2008	0.62

Over the past year, the correlation between VGREX and VCBCX has dropped to 0.16 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

Return for Risk

VGREX vs. VCBCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VGREX

VGREX Risk / Return Rank: 52
VGREX Sharpe Ratio Rank: 58
VGREX Sortino Ratio Rank: 55
VGREX Omega Ratio Rank: 59
VGREX Calmar Ratio Rank: 43
VGREX Martin Ratio Rank: 45

VCBCX

VCBCX Risk / Return Rank: 10
VCBCX Sharpe Ratio Rank: 10
VCBCX Sortino Ratio Rank: 10
VCBCX Omega Ratio Rank: 10
VCBCX Calmar Ratio Rank: 9
VCBCX Martin Ratio Rank: 10

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VGREX vs. VCBCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VALIC Company I Global Real Estate Fund (VGREX) and VALIC Company I Blue Chip Growth Fund (VCBCX). 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.

	VGREX	VCBCX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	0.38	+1.08
Sortino ratio: Return per unit of downside risk	2.06	0.65	+1.41
Omega ratio: Gain probability vs. loss probability	1.27	1.08	+0.20
Calmar ratio: Return relative to maximum drawdown	1.73	0.40	+1.33
Martin ratio: Return relative to average drawdown	6.52	1.21	+5.31

VGREX vs. VCBCX - Sharpe Ratio Comparison

The current VGREX Sharpe Ratio is 1.46, which is higher than the VCBCX Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of VGREX and VCBCX, 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

VGREX vs. VCBCX - Drawdown Comparison

The maximum VGREX drawdown since its inception was -63.57%, which is greater than VCBCX's maximum drawdown of -55.01%. Use the drawdown chart below to compare losses from any high point for VGREX and VCBCX.

Drawdown Indicators

	VGREX	VCBCX	Difference
Max Drawdown Largest peak-to-trough decline	-63.57%	-55.01%	-8.56%
Max Drawdown (1Y) Largest decline over 1 year	-10.29%	-15.94%	+5.65%
Max Drawdown (3Y) Largest decline over 3 years	-20.19%	-29.70%	+9.51%
Max Drawdown (5Y) Largest decline over 5 years	-34.17%	-43.31%	+9.14%
Max Drawdown (10Y) Largest decline over 10 years	-39.92%	-43.31%	+3.39%
Current Drawdown Current decline from peak	-0.38%	-8.24%	+7.86%
Average Drawdown Average peak-to-trough decline	-23.60%	-13.43%	-10.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	5.23%	-2.50%

Volatility

VGREX vs. VCBCX - Volatility Comparison

The current volatility for VALIC Company I Global Real Estate Fund (VGREX) is 3.31%, while VALIC Company I Blue Chip Growth Fund (VCBCX) has a volatility of 5.84%. This indicates that VGREX experiences smaller price fluctuations and is considered to be less risky than VCBCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGREX	VCBCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	5.84%	-2.53%
Volatility (6M) Calculated over the trailing 6-month period	9.88%	13.41%	-3.53%
Volatility (1Y) Calculated over the trailing 1-year period	12.24%	16.71%	-4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.09%	24.08%	-7.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.96%	22.84%	-5.88%

VGREX vs. VCBCX - Expense Ratio Comparison

VGREX has a 0.86% expense ratio, which is higher than VCBCX's 0.76% expense ratio.

Dividends

VGREX vs. VCBCX - Dividend Comparison

VGREX's dividend yield for the trailing twelve months is around 2.79%, less than VCBCX's 14.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCBCX VALIC Company I Blue Chip Growth Fund	14.88%	0.00%	10.23%	16.65%	25.75%	8.99%	8.63%	11.48%	0.07%	8.44%
VGREX VALIC Company I Global Real Estate Fund	2.79%	0.00%	2.68%	4.62%	1.92%	6.64%	4.61%	3.34%	4.34%	9.31%

Frequently Asked Questions

Can I hold both VGREX and VCBCX in my portfolio?

VGREX and VCBCX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGREX or VCBCX?

VCBCX has higher volatility (5.84%) compared to VGREX (3.31%). In terms of maximum drawdown, VGREX dropped -63.57% vs VCBCX's -55.01%.

Which has better risk-adjusted returns?

VGREX currently has the higher Sharpe Ratio (1.46 vs 0.38), 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.