Fund Evaluator:

VALIC Company I Systematic Value Overview

VALIC Company I Systematic Value (VBCVX) is an actively managed U.S. Equity Large Value fund. VALIC launched the fund in 2005.

The investment seeks total return through capital appreciation. The fund seeks to achieve its investment objective by investing primarily in equity securities of U.S. large- and mid-cap companies. Companies are determined to be large- or mid-cap based on the inclusion of their equity securities in the Russell 1000 ®Value Index, whose constituents are companies that exhibit certain value qualities, as defined by the index provider, such as lower price-to-book ratios and lower expected growth values.

About VALIC Company I Systematic Value (VBCVX)

There are 2 members of the management team with an average tenure of 5.84 years: Thomas Simon (2019), Matthew Kyller (2021). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 1000 Value TR USD index with a weighting of 100%. VALIC Company I Systematic Value has 163 securities in its portfolio. The top 10 holdings constitute 24.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

VALIC Company I Systematic Value is part of the Equity global asset class and is within the U.S. Equity fund group. VALIC Company I Systematic Value has 1.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.6%. There is 1.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). VALIC Company I Systematic Value has 1.9% of the portfolio in cash.

Assets Under Management

The fund has $678 million in total assets, which is below the $1 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

VBCVX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The VALIC Company I Systematic Value expense ratio is above average compared to funds in the Large Value category. VALIC Company I Systematic Value has an expense ratio of 0.65%, which is 30% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. VALIC Company I Systematic Value has a portfolio turnover rate of 55%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.

Recently, in the month of July 2026, VALIC Company I Systematic Value returned 4.9%, which earned it a grade of A, as the Large Value category had an average return of 2.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

VALIC Company I Systematic Value has a trailing yield of 1.01%, which is below the 1.20% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

VALIC Company I Systematic Value Grades

Year to date, the fund has returned 20.1%, 5.8 percentage points better than the category, which translates into a grade of A. The fund has returned 29.7% over the past year (grade of A), 19.1% over the past three years (grade of A) and 12.8% per year over the past five years (grade of A) and 12.0% per year over the past 10 years (grade of B).

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