VVSCX vs. VCIEX

Last updated Jun 23, 2026

VVSCX (VALIC Company I Small Cap Value Fund) and VCIEX (VALIC Company I International Equities Index Fund) are both mutual funds - VVSCX is a Small Cap Value Equities fund managed by VALIC, while VCIEX is a Foreign Large Cap Equities fund managed by VALIC. Over the past 5 years, VVSCX returned 7.04%/yr vs 7.80%/yr for VCIEX. A 0.66 correlation means they provide meaningful diversification when combined. VVSCX charges 0.76%/yr vs 0.42%/yr for VCIEX.

Performance

VVSCX vs. VCIEX - 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 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, VVSCX achieves a 19.57% return, which is significantly higher than VCIEX's 10.37% return.

VVSCX

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

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)

VVSCX vs. VCIEX - 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%
VCIEX VALIC Company I International Equities Index Fund	10.37%	24.75%	3.15%	17.20%	-14.40%	-0.82%

Correlation

The correlation between VVSCX and VCIEX 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	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jun 15, 2021	0.66

The correlation between VVSCX and VCIEX has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.

Return for Risk

VVSCX vs. VCIEX — 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

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.

VVSCX vs. VCIEX - 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 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.

	VVSCX	VCIEX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.58	+0.83
Sortino ratio: Return per unit of downside risk	3.39	2.34	+1.05
Omega ratio: Gain probability vs. loss probability	1.41	1.29	+0.12
Calmar ratio: Return relative to maximum drawdown	4.44	2.07	+2.38
Martin ratio: Return relative to average drawdown	16.37	7.48	+8.89

VVSCX vs. VCIEX - Sharpe Ratio Comparison

The current VVSCX Sharpe Ratio is 2.42, which is higher than the VCIEX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of VVSCX 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

VVSCX vs. VCIEX - Drawdown Comparison

The maximum VVSCX drawdown since its inception was -31.33%, smaller than the maximum VCIEX drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for VVSCX and VCIEX.

Drawdown Indicators

	VVSCX	VCIEX	Difference
Max Drawdown Largest peak-to-trough decline	-31.33%	-75.07%	+43.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.87%	-11.45%	+1.58%
Max Drawdown (3Y) Largest decline over 3 years	-31.33%	-18.31%	-13.02%
Max Drawdown (5Y) Largest decline over 5 years	-31.33%	-29.28%	-2.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.20%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.26%	-37.42%	+27.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.15%	-0.48%

Volatility

VVSCX vs. VCIEX - Volatility Comparison

VALIC Company I Small Cap Value Fund (VVSCX) has a higher volatility of 5.73% compared to VALIC Company I International Equities Index Fund (VCIEX) at 5.01%. This indicates that VVSCX's price experiences larger fluctuations and is considered to be riskier than VCIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VVSCX	VCIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	5.01%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	12.76%	12.74%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	14.95%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.76%	16.27%	+5.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.79%	16.84%	+4.95%

VVSCX vs. VCIEX - Expense Ratio Comparison

VVSCX has a 0.76% expense ratio, which is higher than VCIEX's 0.42% expense ratio.

Dividends

VVSCX vs. VCIEX - Dividend Comparison

VVSCX's dividend yield for the trailing twelve months is around 16.31%, 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%
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 VCIEX in my portfolio?

VVSCX and VCIEX 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, VVSCX or VCIEX?

VVSCX has higher volatility (5.73%) compared to VCIEX (5.01%). In terms of maximum drawdown, VVSCX dropped -31.33% vs VCIEX's -75.07%.

Which has better risk-adjusted returns?

VVSCX currently has the higher Sharpe Ratio (2.42 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.