VVSCX vs. VCGAX

Last updated Jun 23, 2026

VVSCX (VALIC Company I Small Cap Value Fund) and VCGAX (VALIC Company I Systematic Core Fund) are both mutual funds - VVSCX is a Small Cap Value Equities fund managed by VALIC, while VCGAX is a Large Cap Blend Equities fund managed by VALIC. Over the past 5 years, VVSCX returned 7.04%/yr vs 10.22%/yr for VCGAX. Their correlation of 0.81 suggests significant overlap in exposure. VVSCX charges 0.76%/yr vs 0.63%/yr for VCGAX.

Performance

VVSCX vs. VCGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VALIC Company I Small Cap Value Fund (VVSCX) and VALIC Company I Systematic Core Fund (VCGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VVSCX achieves a 19.57% return, which is significantly higher than VCGAX's 5.96% return.

VVSCX

• 1D: 1.65%
• 1M: 4.00%
• YTD: 19.57%
• 6M: 16.85%
• 1Y: 43.59%
• 3Y*: 14.79%
• 5Y*: 7.04%
• 10Y*: —

VCGAX

• 1D: 0.82%
• 1M: -0.16%
• YTD: 5.96%
• 6M: 5.08%
• 1Y: 20.69%
• 3Y*: 16.04%
• 5Y*: 10.22%
• 10Y*: 13.45%

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

VVSCX vs. VCGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VVSCX VALIC Company I Small Cap Value Fund	19.57%	4.30%	9.10%	12.56%	-13.72%	0.69%
VCGAX VALIC Company I Systematic Core Fund	5.96%	9.41%	23.14%	23.94%	-18.71%	10.43%

Correlation

The correlation between VVSCX and VCGAX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jun 15, 2021	0.81

The correlation between VVSCX and VCGAX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

Return for Risk

VVSCX vs. VCGAX — Risk / Return Rank

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

VVSCX

VVSCX Risk / Return Rank: 81
VVSCX Sharpe Ratio Rank: 80
VVSCX Sortino Ratio Rank: 78
VVSCX Omega Ratio Rank: 65
VVSCX Calmar Ratio Rank: 91
VVSCX Martin Ratio Rank: 90

VCGAX

VCGAX Risk / Return Rank: 41
VCGAX Sharpe Ratio Rank: 42
VCGAX Sortino Ratio Rank: 42
VCGAX Omega Ratio Rank: 39
VCGAX Calmar Ratio Rank: 36
VCGAX Martin Ratio Rank: 47

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.

VVSCX vs. VCGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VALIC Company I Small Cap Value Fund (VVSCX) and VALIC Company I Systematic Core Fund (VCGAX). 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.

	VVSCX	VCGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.75	+0.67
Sortino ratio: Return per unit of downside risk	3.39	2.51	+0.88
Omega ratio: Gain probability vs. loss probability	1.41	1.31	+0.10
Calmar ratio: Return relative to maximum drawdown	4.44	2.17	+2.28
Martin ratio: Return relative to average drawdown	16.37	9.23	+7.14

VVSCX vs. VCGAX - Sharpe Ratio Comparison

The current VVSCX Sharpe Ratio is 2.42, which is higher than the VCGAX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of VVSCX and VCGAX, 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

VVSCX vs. VCGAX - Drawdown Comparison

The maximum VVSCX drawdown since its inception was -31.33%, smaller than the maximum VCGAX drawdown of -71.37%. Use the drawdown chart below to compare losses from any high point for VVSCX and VCGAX.

Drawdown Indicators

	VVSCX	VCGAX	Difference
Max Drawdown Largest peak-to-trough decline	-31.33%	-71.37%	+40.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.87%	-9.55%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-31.33%	-22.35%	-8.98%
Max Drawdown (5Y) Largest decline over 5 years	-31.33%	-24.90%	-6.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.41%	—
Current Drawdown Current decline from peak	0.00%	-1.21%	+1.21%
Average Drawdown Average peak-to-trough decline	-10.26%	-25.21%	+14.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	2.23%	+0.44%

Volatility

VVSCX vs. VCGAX - Volatility Comparison

VALIC Company I Small Cap Value Fund (VVSCX) has a higher volatility of 5.73% compared to VALIC Company I Systematic Core Fund (VCGAX) at 3.91%. This indicates that VVSCX's price experiences larger fluctuations and is considered to be riskier than VCGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VVSCX	VCGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	3.91%	+1.82%
Volatility (6M) Calculated over the trailing 6-month period	12.76%	9.37%	+3.39%
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	11.82%	+6.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.76%	16.97%	+4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.79%	18.41%	+3.38%

VVSCX vs. VCGAX - Expense Ratio Comparison

VVSCX has a 0.76% expense ratio, which is higher than VCGAX's 0.63% expense ratio.

Dividends

VVSCX vs. VCGAX - Dividend Comparison

VVSCX's dividend yield for the trailing twelve months is around 16.31%, more than VCGAX's 6.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
VCGAX VALIC Company I Systematic Core Fund	6.40%	0.00%	1.69%	4.83%	0.79%	9.20%	10.09%	10.41%	1.01%	3.82%
VVSCX VALIC Company I Small Cap Value Fund	16.31%	0.00%	3.55%	16.57%	9.60%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VVSCX and VCGAX in my portfolio?

VVSCX and VCGAX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VVSCX or VCGAX?

VVSCX has higher volatility (5.73%) compared to VCGAX (3.91%). In terms of maximum drawdown, VVSCX dropped -31.33% vs VCGAX's -71.37%.

Which has better risk-adjusted returns?

VVSCX currently has the higher Sharpe Ratio (2.42 vs 1.75), 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.