Fund Evaluator:

VALIC Company I International Opps Overview

VALIC Company I International Opps (VIOPX) is an actively managed International Equity Foreign Small/Mid Growth fund. VALIC launched the fund in 1998.

The investment seeks to provide long-term capital appreciation through equity and equity-related investments of small to mid cap companies throughout the world, excluding the United States. Under normal market conditions, at least 80% of the fund's net assets will be invested in equity and equity-related securities of small- to mid-cap companies throughout the world, excluding the United States. The fund may hold foreign currencies and non-dollar denominated foreign securities. It also invests in depositary receipt.

About VALIC Company I International Opps (VIOPX)

There are 4 members of the management team with an average tenure of 2.73 years: David Nadel (2023), Andrey Belov (2024), Jonathan White (2023), Mary Pryshlak (2023). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI ACWI Ex USA NR USD index with a weighting of 100% and MSCI ACWI Ex USA SMID NR USD index with a weighting of 100%. VALIC Company I International Opps has 335 securities in its portfolio. The top 10 holdings constitute 10.6% 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 International Opps is part of the Equity global asset class and is within the International Equity fund group. VALIC Company I International Opps has 94.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 4.3%. There is 94.6% 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 International Opps has 1.1% of the portfolio in cash.

Assets Under Management

The fund has $296 million in total assets, which is below the $319 million average for the Foreign Small/Mid Growth 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.

VIOPX 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 International Opps expense ratio is high compared to funds in the Foreign Small/Mid Growth category. VALIC Company I International Opps has an expense ratio of 1.01%, which is 18% 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 International Opps has a portfolio turnover rate of 61%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 65% for the Foreign Small/Mid Growth category.

Recently, in the month of July 2026, VALIC Company I International Opps returned 3.6%, which earned it a grade of A, as the Foreign Small/Mid Growth category had an average return of -1.5%. 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 International Opps has a trailing yield of 3.31%, which is above the 1.43% 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 International Opps Grades

Year to date, the fund has returned 9.2%, 2.5 percentage points better than the category, which translates into a grade of A. The fund has returned 17.3% over the past year (grade of A), 12.8% over the past three years (grade of B) and 3.5% per year over the past five years (grade of A) and 7.1% per year over the past 10 years (grade of B).

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