VMIDX vs. VCIEX

Last updated Jun 23, 2026

VMIDX (VALIC Company I Mid Cap Index Fund) and VCIEX (VALIC Company I International Equities Index Fund) are both mutual funds - VMIDX is a Mid Cap Blend Equities fund managed by VALIC, while VCIEX is a Foreign Large Cap Equities fund managed by VALIC. Over the past 10 years, VMIDX returned 8.86%/yr vs 8.56%/yr for VCIEX. A 0.63 correlation means they provide meaningful diversification when combined. VMIDX charges 0.34%/yr vs 0.42%/yr for VCIEX.

Performance

VMIDX vs. VCIEX - Performance Comparison

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

Returns By Period

In the year-to-date period, VMIDX achieves a 15.05% return, which is significantly higher than VCIEX's 10.37% return. Both investments have delivered pretty close results over the past 10 years, with VMIDX having a 8.86% annualized return and VCIEX not far behind at 8.56%.

VMIDX

• 1D: 1.11%
• 1M: 3.30%
• YTD: 15.05%
• 6M: 12.58%
• 1Y: 26.48%
• 3Y*: 9.63%
• 5Y*: 5.94%
• 10Y*: 8.86%

VCIEX

• 1D: 0.68%
• 1M: 1.75%
• YTD: 10.37%
• 6M: 10.70%
• 1Y: 24.45%
• 3Y*: 13.80%
• 5Y*: 7.80%
• 10Y*: 8.56%

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

VMIDX vs. VCIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VMIDX VALIC Company I Mid Cap Index Fund	15.05%	-7.10%	13.57%	15.73%	-13.10%	24.39%	13.83%	25.59%	-17.06%	15.94%
VCIEX VALIC Company I International Equities Index Fund	10.37%	24.75%	3.15%	17.20%	-14.40%	11.04%	7.54%	21.24%	-13.74%	24.36%

Correlation

The correlation between VMIDX and VCIEX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Dec 28, 1995	0.63

The correlation between VMIDX and VCIEX has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.

Return for Risk

VMIDX vs. VCIEX — Risk / Return Rank

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

VMIDX

VMIDX Risk / Return Rank: 48
VMIDX Sharpe Ratio Rank: 40
VMIDX Sortino Ratio Rank: 41
VMIDX Omega Ratio Rank: 37
VMIDX Calmar Ratio Rank: 65
VMIDX Martin Ratio Rank: 57

VCIEX

VCIEX Risk / Return Rank: 35
VCIEX Sharpe Ratio Rank: 35
VCIEX Sortino Ratio Rank: 37
VCIEX Omega Ratio Rank: 35
VCIEX Calmar Ratio Rank: 33
VCIEX Martin Ratio Rank: 35

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.

VMIDX vs. VCIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VALIC Company I Mid Cap Index Fund (VMIDX) and VALIC Company I International Equities Index Fund (VCIEX). 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.

	VMIDX	VCIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.58	+0.13
Sortino ratio: Return per unit of downside risk	2.50	2.34	+0.16
Omega ratio: Gain probability vs. loss probability	1.30	1.29	+0.01
Calmar ratio: Return relative to maximum drawdown	2.98	2.07	+0.91
Martin ratio: Return relative to average drawdown	10.91	7.48	+3.42

VMIDX vs. VCIEX - Sharpe Ratio Comparison

The current VMIDX Sharpe Ratio is 1.71, which is comparable to the VCIEX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of VMIDX and VCIEX, 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

VMIDX vs. VCIEX - Drawdown Comparison

The maximum VMIDX drawdown since its inception was -67.05%, smaller than the maximum VCIEX drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for VMIDX and VCIEX.

Drawdown Indicators

	VMIDX	VCIEX	Difference
Max Drawdown Largest peak-to-trough decline	-67.05%	-75.07%	+8.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-11.45%	+2.46%
Max Drawdown (3Y) Largest decline over 3 years	-34.16%	-18.31%	-15.85%
Max Drawdown (5Y) Largest decline over 5 years	-34.16%	-29.28%	-4.88%
Max Drawdown (10Y) Largest decline over 10 years	-41.76%	-34.20%	-7.56%
Current Drawdown Current decline from peak	-1.46%	0.00%	-1.46%
Average Drawdown Average peak-to-trough decline	-16.94%	-37.42%	+20.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	3.15%	-0.71%

Volatility

VMIDX vs. VCIEX - Volatility Comparison

VALIC Company I Mid Cap Index Fund (VMIDX) and VALIC Company I International Equities Index Fund (VCIEX) have volatilities of 4.86% and 5.01%, 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

	VMIDX	VCIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	5.01%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	11.53%	12.74%	-1.21%
Volatility (1Y) Calculated over the trailing 1-year period	15.67%	14.95%	+0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.11%	16.27%	+4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.84%	16.84%	+5.00%

VMIDX vs. VCIEX - Expense Ratio Comparison

VMIDX has a 0.34% expense ratio, which is lower than VCIEX's 0.42% expense ratio.

Dividends

VMIDX vs. VCIEX - Dividend Comparison

VMIDX's dividend yield for the trailing twelve months is around 12.38%, more than VCIEX's 6.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VMIDX VALIC Company I Mid Cap Index Fund	12.38%	0.00%	5.05%	13.91%	10.75%	3.62%	8.68%	11.05%	1.31%	9.01%

Frequently Asked Questions

Can I hold both VMIDX and VCIEX in my portfolio?

VMIDX and VCIEX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VMIDX or VCIEX?

VCIEX has higher volatility (5.01%) compared to VMIDX (4.86%). In terms of maximum drawdown, VMIDX dropped -67.05% vs VCIEX's -75.07%.

Which has better risk-adjusted returns?

VMIDX currently has the higher Sharpe Ratio (1.71 vs 1.58), 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.