Fund Evaluator:
VALIC Company I Dividend Value (VCIGX)
Follow This Fund
Best Performing in Large Value Over the Last Year
| 39.1% | American Beacon Man Lg Cp Value Inv (BWLIX) |
| 33.9% | PGIM Jennison Focused Value Z (PJGZX) |
| 32.5% | LSV Conservative Value Equity Investor (LVAVX) |
| 31.7% | Fidelity Advisor Blue Chip Value Z (FFVPX) |
| 31.6% | Fidelity Blue Chip Value (FBCVX) |
Fund Details
VALIC Company I Dividend Value Overview
VALIC Company I Dividend Value (VCIGX) is an actively managed U.S. Equity Large Value fund. VALIC launched the fund in 2000.
The investment seeks capital growth by investing in common stocks; income is a secondary objective. The fund seeks to achieve its objective by investing primarily in a diversified portfolio of equity securities including common stock, preferred stock and convertible securities. Under normal circumstances, the fund will invest at least 80% of its net assets in dividend paying equity securities. The fund may invest in securities of companies with any market capitalization, but will generally focus on large cap securities.
About VALIC Company I Dividend Value (VCIGX)
There are 4 members of the management team with an average tenure of 4.85 years: Michael Clarfeld (2021), Cem Inal (2025), John Baldi (2021), David Zhao (2017). 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 Dividend Value has 123 securities in its portfolio. The top 10 holdings constitute 21.8% 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 Dividend Value is part of the Equity global asset class and is within the U.S. Equity fund group. VALIC Company I Dividend Value has 12.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 86.8%. There is 12.6% 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 Dividend Value has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $970 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.
VCIGX 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 Dividend Value expense ratio is above average compared to funds in the Large Value category. VALIC Company I Dividend Value has an expense ratio of 0.67%, which is 28% 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 Dividend Value has a portfolio turnover rate of 57%, 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 June 2026, VALIC Company I Dividend Value returned 2.1%, which earned it a grade of C, as the Large Value category had an average return of 1.6%. 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 Dividend Value has a trailing yield of 1.84%, which is above the 1.25% 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 Dividend Value Grades
Year to date, the fund has returned 10.3%, 0.7 percentage points worse than the category, which translates into a grade of C. The fund has returned 20.2% over the past year (grade of C), 15.7% over the past three years (grade of C) and 10.6% per year over the past five years (grade of C) and 10.8% per year over the past 10 years (grade of D).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about VALIC Company I Dividend Value, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
VCIGX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| VCIGX Return (NAV) | 2.1% | 11.2% | 20.2% | 15.7% | 10.6% | 10.8% |
| VCIGX Grade | C | B | C | C | C | D |
| +/- Category | 0.5% | 1.4% | -0.8% | -0.2% | 0.2% | -0.5% |
| Large Value Avg | 1.6% | 9.8% | 21.0% | 15.9% | 10.4% | 11.3% |
| VCIGX Tax Cost Ratio | na | na | 2.5% | 2.1% | 2.4% | 2.3% |
VCIGX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VCIGX Return (NAV) | 10.3% | 18.2% | 12.8% | 12.6% | -5.6% | 21.9% | 0.5% | 23.5% | -9.0% | 18.1% | 16.7% |
| VCIGX Grade | C | A | D | C | C | F | D | D | C | B | B |
| +/- Category | -0.7% | 3.0% | -1.3% | 0.7% | 0.4% | -3.9% | -3.3% | -2.1% | -0.5% | 1.6% | 2.2% |
| Large Value Avg | 11.1% | 15.2% | 14.1% | 11.8% | -6.1% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.5% |
| Risk Measures | |
| Standard Deviation: | 10.8% |
| Total Risk Index: | 0.89 - Average |
| Category Risk Index: | 0.90 - Low |
| Category Risk Grade: | A (15% Rank) |
| Beta: | 0.68 |
| R-Squared: | 67% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $970 Mil |
| Fund Total Assets: | $ 970 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 57% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 8.8 years | |||
| Average Tenure: 4.8 years | |||
| Managers (Year): Zhao David (2017), Baldi John (2021), Clarfeld Michael (2021), Inal Cem (2025) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 123 |
| % in Top 10 Holdings: | 21.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 12.6% |
Portfolio Allocation |
|
| Domestic Stock: | 86.8% |
| Foreign Stock: | 12.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | VALIC |
| Phone Number: | 800-448-2542 |
| Website: | www.valic.com |
| Status: | Open |
| Inception Date: | December 11, 2000 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.67% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | VALIC Company I Dividend Value |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
