Fund Evaluator:
VALIC Company I NASDAQ-100 Index (VCNIX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
VALIC Company I NASDAQ-100 Index Overview
VALIC Company I NASDAQ-100 Index (VCNIX) is a passively managed U.S. Equity Large Growth fund. VALIC launched the fund in 2000.
The investment seeks long-term capital growth through investments in the stocks that are included in the Nasdaq-100® Index. The Subadviser invests, under normal circumstances, at least 80% of the fund's net assets in companies that are listed in the index. The index represents the largest and most active non-financial domestic and international securities listed on the NASDAQ Stock Market, based on market value (capitalization). It may concentrate its investments (invest more than 25% of its total assets) in the technology sector, in the proportion consistent with the industry weightings in the index. The fund is non-diversified.
About VALIC Company I NASDAQ-100 Index (VCNIX)
There are 4 members of the management team with an average tenure of 1.17 years: Jennifer Hsui (2025), Peter Sietsema (2025), Matt Waldron (2025), Steven White (2025). 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 NASDAQ 100 TR USD index with a weighting of 100%. VALIC Company I NASDAQ-100 Index has 105 securities in its portfolio. The top 10 holdings constitute 46.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
VALIC Company I NASDAQ-100 Index is part of the Equity global asset class and is within the U.S. Equity fund group. VALIC Company I NASDAQ-100 Index has 2.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.8%. There is 2.8% 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 NASDAQ-100 Index has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $2 billion average for the Large 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.
VCNIX 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 NASDAQ-100 Index expense ratio is average compared to funds in the Large Growth category. VALIC Company I NASDAQ-100 Index has an expense ratio of 0.42%, which is 56% 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 NASDAQ-100 Index has a portfolio turnover rate of 10%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of June 2026, VALIC Company I NASDAQ-100 Index returned -0.2%, which earned it a grade of B, as the Large Growth category had an average return of -1.3%. 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 NASDAQ-100 Index has a trailing yield of 0.29%, which is above the 0.06% 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 NASDAQ-100 Index Grades
Year to date, the fund has returned 20.1%, 13.0 percentage points better than the category, which translates into a grade of A. The fund has returned 33.8% over the past year (grade of A), 26.3% over the past three years (grade of A) and 16.1% per year over the past five years (grade of A) and 21.7% per year over the past 10 years (grade of A).
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VCNIX 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 |
|
| VCNIX Return (NAV) | -0.2% | 27.6% | 33.8% | 26.3% | 16.1% | 21.7% |
| VCNIX Grade | B | A | A | A | A | A |
| +/- Category | 1.1% | 9.8% | 18.0% | 5.6% | 6.1% | 5.3% |
| Large Growth Avg | -1.3% | 17.8% | 15.9% | 20.7% | 10.0% | 16.4% |
| VCNIX Tax Cost Ratio | na | na | 2.2% | 2.6% | 2.7% | 2.0% |
VCNIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| VCNIX Return (NAV) | 20.1% | 20.4% | 25.3% | 54.5% | -32.8% | 26.9% | 47.9% | 38.7% | -0.6% | 32.3% | 6.8% |
| VCNIX Grade | A | A | D | A | D | A | B | A | C | B | A |
| +/- Category | 13.0% | 4.7% | -4.3% | 15.7% | -0.8% | 6.4% | 5.9% | 5.5% | 0.1% | 2.5% | 4.0% |
| Large Growth Avg | 7.1% | 15.7% | 29.6% | 38.8% | -32.0% | 20.5% | 42.0% | 33.2% | -0.7% | 29.8% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 17.1% |
| Total Risk Index: | 1.41 - High |
| Category Risk Index: | 0.98 - Above Average |
| Category Risk Grade: | D (61% Rank) |
| Beta: | 1.24 |
| R-Squared: | 89% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.3% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1283 Mil |
| Fund Total Assets: | $1,283 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 10% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 1.2 years | |||
| Average Tenure: 1.2 years | |||
| Managers (Year): Hsui Jennifer (2025), Sietsema Peter (2025), Waldron Matt (2025), White Steven (2025) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 105 |
| % in Top 10 Holdings: | 46.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 2.8% |
Portfolio Allocation |
|
| Domestic Stock: | 96.8% |
| Foreign Stock: | 2.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.4% |
Purchase Information
| Fund Family: | VALIC |
| Phone Number: | 800-448-2542 |
| Website: | www.valic.com |
| Status: | Open |
| Inception Date: | October 2, 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 (%): | 0.42% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | VALIC Company I NASDAQ-100 Index |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
