VMSGX vs. VCIFX

Last updated Jun 4, 2026

VMSGX (VALIC Company I Mid Cap Strategic Growth Fund) and VCIFX (Vertical Capital Income Fund) are both mutual funds - VMSGX is a Mid Cap Growth Equities fund managed by VALIC, while VCIFX is a Global Bonds fund managed by VALIC. Over the past 10 years, VMSGX returned 13.71%/yr vs 0.90%/yr for VCIFX. At a 0.13 correlation, their price movements are largely independent. VMSGX charges 0.75%/yr vs 0.69%/yr for VCIFX.

Performance

VMSGX vs. VCIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VALIC Company I Mid Cap Strategic Growth Fund (VMSGX) and Vertical Capital Income Fund (VCIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VMSGX achieves a 10.97% return, which is significantly higher than VCIFX's -0.08% return. Over the past 10 years, VMSGX has outperformed VCIFX with an annualized return of 13.71%, while VCIFX has yielded a comparatively lower 0.90% annualized return.

VMSGX

• 1D: 0.56%
• 1M: 6.30%
• YTD: 10.97%
• 6M: 9.67%
• 1Y: 17.90%
• 3Y*: 18.12%
• 5Y*: 8.61%
• 10Y*: 13.71%

VCIFX

• 1D: 0.19%
• 1M: 0.47%
• YTD: -0.08%
• 6M: 0.11%
• 1Y: 4.55%
• 3Y*: 4.21%
• 5Y*: -1.34%
• 10Y*: 0.90%

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

VMSGX vs. VCIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VMSGX VALIC Company I Mid Cap Strategic Growth Fund	10.97%	11.23%	19.79%	22.06%	-23.40%	16.87%	34.60%	37.63%	-8.89%	26.30%
VCIFX Vertical Capital Income Fund	-0.08%	9.15%	-1.00%	5.96%	-16.21%	-5.85%	10.46%	9.56%	-3.14%	8.10%

Correlation

The correlation between VMSGX and VCIFX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Dec 23, 2004	0.13

Over the past year, VMSGX and VCIFX have become more correlated (0.44) than their long-term average of 0.13, meaning their price movements have been converging.

Return for Risk

VMSGX vs. VCIFX — Risk / Return Rank

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

VMSGX

VMSGX Risk / Return Rank: 18
VMSGX Sharpe Ratio Rank: 17
VMSGX Sortino Ratio Rank: 17
VMSGX Omega Ratio Rank: 16
VMSGX Calmar Ratio Rank: 19
VMSGX Martin Ratio Rank: 22

VCIFX

VCIFX Risk / Return Rank: 11
VCIFX Sharpe Ratio Rank: 12
VCIFX Sortino Ratio Rank: 12
VCIFX Omega Ratio Rank: 11
VCIFX Calmar Ratio Rank: 11
VCIFX Martin Ratio Rank: 10

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.

VMSGX vs. VCIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VALIC Company I Mid Cap Strategic Growth Fund (VMSGX) and Vertical Capital Income Fund (VCIFX). 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.

	VMSGX	VCIFX	Difference
Sharpe ratio: Return per unit of total volatility	1.17	0.92	+0.25
Sortino ratio: Return per unit of downside risk	1.73	1.39	+0.34
Omega ratio: Gain probability vs. loss probability	1.20	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	1.58	1.04	+0.54
Martin ratio: Return relative to average drawdown	5.63	3.06	+2.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMSGX vs. VCIFX - Sharpe Ratio Comparison

The current VMSGX Sharpe Ratio is 1.17, which is comparable to the VCIFX Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of VMSGX and VCIFX, 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

	VMSGX	VCIFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	0.92	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	-0.22	+0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.16	+0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.02	+0.30

Drawdowns

VMSGX vs. VCIFX - Drawdown Comparison

The maximum VMSGX drawdown since its inception was -66.65%, which is greater than VCIFX's maximum drawdown of -29.13%. Use the drawdown chart below to compare losses from any high point for VMSGX and VCIFX.

Drawdown Indicators

	VMSGX	VCIFX	Difference
Max Drawdown Largest peak-to-trough decline	-66.65%	-29.13%	-37.52%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-4.19%	-7.98%
Max Drawdown (3Y) Largest decline over 3 years	-23.85%	-7.75%	-16.10%
Max Drawdown (5Y) Largest decline over 5 years	-33.62%	-25.58%	-8.04%
Max Drawdown (10Y) Largest decline over 10 years	-36.97%	-27.38%	-9.59%
Current Drawdown Current decline from peak	0.00%	-12.12%	+12.12%
Average Drawdown Average peak-to-trough decline	-15.07%	-14.02%	-1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	1.42%	+1.98%

Volatility

VMSGX vs. VCIFX - Volatility Comparison

VALIC Company I Mid Cap Strategic Growth Fund (VMSGX) has a higher volatility of 4.55% compared to Vertical Capital Income Fund (VCIFX) at 1.67%. This indicates that VMSGX's price experiences larger fluctuations and is considered to be riskier than VCIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMSGX	VCIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	1.67%	+2.88%
Volatility (6M) Calculated over the trailing 6-month period	12.95%	3.58%	+9.37%
Volatility (1Y) Calculated over the trailing 1-year period	16.39%	4.74%	+11.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.75%	6.02%	+14.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.90%	5.73%	+15.17%

VMSGX vs. VCIFX - Expense Ratio Comparison

VMSGX has a 0.75% expense ratio, which is higher than VCIFX's 0.69% expense ratio.

Dividends

VMSGX vs. VCIFX - Dividend Comparison

VMSGX's dividend yield for the trailing twelve months is around 7.17%, more than VCIFX's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCIFX Vertical Capital Income Fund	1.81%	0.00%	0.00%	3.53%	3.64%	4.00%	1.76%	2.32%	0.93%	0.00%
VMSGX VALIC Company I Mid Cap Strategic Growth Fund	7.17%	0.00%	0.01%	21.01%	11.77%	4.58%	3.89%	8.38%	0.10%	5.91%

Frequently Asked Questions

Can I hold both VMSGX and VCIFX in my portfolio?

VMSGX and VCIFX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VMSGX or VCIFX?

VMSGX has higher volatility (4.55%) compared to VCIFX (1.67%). In terms of maximum drawdown, VMSGX dropped -66.65% vs VCIFX's -29.13%.

Which has better risk-adjusted returns?

VMSGX currently has the higher Sharpe Ratio (1.17 vs 0.92), 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.