Fund Evaluator:

VALIC Company I Global Strategy Overview

VALIC Company I Global Strategy (VGLSX) is an actively managed Allocation Global Moderate Allocation fund. VALIC launched the fund in 2005.

The investment seeks high total return. Under normal market conditions, the fund invests in equity securities of companies in any country, fixed income (debt) securities of companies and governments of any country, and in money market securities. The equity securities in which the fund invests are primarily common stock of large- and mid-capitalization companies included in the MSCI ACWI Index and depositary receipts representing such stocks. Under normal market conditions, the Advisor expects to invest at least 40% of its net assets in foreign securities, including foreign equity securities and foreign sovereign debt securities.

About VALIC Company I Global Strategy (VGLSX)

There are 12 members of the management team with an average tenure of 2.80 years: Christopher Floyd (2025), Anujeet Sareen (2021), Jack McIntyre (2021), Brett Risser (2025), Brian Kloss (2021), Tracy Chen (2021), Adrian Chan (2026), Michael Arno (2021), Renato Latini (2021), Brett Goldstein (2026), Laura Green (2026), Tom Nelson (2021). Management tenure is more important for actively managed funds than passive index funds.

The fund has 3 primary benchmarks: MSCI ACWI NR USD index with a weighting of 100%, Bloomberg Global Aggregate TR Hdg USD index with a weighting of 40% and MSCI ACWI NR USD index with a weighting of 60%. VALIC Company I Global Strategy has 589 securities in its portfolio. The top 10 holdings constitute 19.8% 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 Global Strategy is part of the Allocation global asset class and is within the Allocation fund group. VALIC Company I Global Strategy has 37.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 34.9%. There is 23.5% allocated to foreign stock, and 1.6% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 34.8% (20.5% domestic bond, 14.3% foreign bond and 0.3% convertible bond). VALIC Company I Global Strategy has 4.8% of the portfolio in cash.

Assets Under Management

The fund has $242 million in total assets, which is below the $948 million average for the Global Moderate Allocation 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.

VGLSX 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 Global Strategy expense ratio is above average compared to funds in the Global Moderate Allocation category. VALIC Company I Global Strategy has an expense ratio of 0.63%, which is 40% lower than its category average, making the fund expense ratio grade a A. 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 Global Strategy has a portfolio turnover rate of 54%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 66% for the Global Moderate Allocation category.

Recently, in the month of June 2026, VALIC Company I Global Strategy returned -0.6%, which earned it a grade of F, as the Global Moderate Allocation category had an average return of -0.2%. 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 Global Strategy has a trailing yield of 2.96%, which is above the 2.64% 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 Global Strategy Grades

Year to date, the fund has returned 9.5%, 1.6 percentage points better than the category, which translates into a grade of A. The fund has returned 21.0% over the past year (grade of A), 16.7% over the past three years (grade of A) and 7.8% per year over the past five years (grade of A) and 7.1% per year over the past 10 years (grade of D).

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