Fund Evaluator:

VALIC Company I Mid Cap Value Overview

VALIC Company I Mid Cap Value (VVMCX) is an actively managed U.S. Equity Mid-Cap Value fund. VALIC launched the fund in 1998.

The investment seeks capital growth through investment in equity securities of medium capitalization companies using a value-oriented investment approach. The fund invests, under normal circumstances, at least 80% of net assets in equity securities of mid-cap companies. Generally, mid-cap companies will include companies whose market capitalizations, at the time of purchase, range from the market capitalization of the smallest company included in the Russell Midcap® Index to the market capitalization of the largest company in the Russell Midcap® Index during the most recent 12-month period.

About VALIC Company I Mid Cap Value (VVMCX)

There are 3 members of the management team with an average tenure of 8.86 years: Steven Pollack (2011), Gregory Garabedian (2018), Timothy Collard (2023). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell Mid Cap Value TR USD index with a weighting of 100%. VALIC Company I Mid Cap Value has 218 securities in its portfolio. The top 10 holdings constitute 12.7% 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 Mid Cap Value is part of the Equity global asset class and is within the U.S. Equity fund group. VALIC Company I Mid Cap Value has 1.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.5%. There is 1.9% 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 Mid Cap Value has 1.6% of the portfolio in cash.

Assets Under Management

The fund has $709 million in total assets, which is above the $647 million average for the Mid-Cap 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.

VVMCX 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 Mid Cap Value expense ratio is high compared to funds in the Mid-Cap Value category. VALIC Company I Mid Cap Value has an expense ratio of 0.83%, which is 20% 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 Mid Cap Value has a portfolio turnover rate of 141%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 50% for the Mid-Cap Value category.

Recently, in the month of June 2026, VALIC Company I Mid Cap Value returned 5.9%, which earned it a grade of A, as the Mid-Cap Value category had an average return of 3.2%. 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 Mid Cap Value has a trailing yield of 1.07%, which is above the 0.90% 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 Mid Cap Value Grades

Year to date, the fund has returned 16.2%, 2.5 percentage points better than the category, which translates into a grade of B. The fund has returned 22.5% over the past year (grade of C), 14.4% over the past three years (grade of C) and 9.7% per year over the past five years (grade of B) and 10.7% per year over the past 10 years (grade of B).

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