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Name

As of 04/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Emerging Economies Fund

VCGEX | Fund

$5.93

$660 M

0.00%

0.96%

Vitals

YTD Return

3.7%

1 yr return

9.1%

3 Yr Avg Return

-7.1%

5 Yr Avg Return

0.8%

Net Assets

$660 M

Holdings in Top 10

30.2%

52 WEEK LOW AND HIGH

$5.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.96%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 82.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Emerging Economies Fund

VCGEX | Fund

$5.93

$660 M

0.00%

0.96%

VCGEX - Profile

Distributions

  • YTD Total Return 3.7%
  • 3 Yr Annualized Total Return -7.1%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.68%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Emerging Economies Fund
  • Fund Family Name
    VALIC Company
  • Inception Date
    Sep 01, 2006
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Anuj Arora

Fund Description

Under normal circumstances, the Fund invests at least 80% of value of its net assets in equity securities of emerging market companies and other investments that are tied economically to emerging markets. Emerging markets include most countries in the world except Australia, Canada, Japan, New Zealand, the United Kingdom, the United States, and most of the countries of Western Europe. An emerging market company is one that is organized under the laws of, or has a principal place of business in an emerging market; where the principal securities market is in an emerging market; that derives at least 50% of its total revenues or profits from goods that are produced or sold, investments made, or services performed in an emerging market; or at least 50% of the assets of which are located in an emerging market. The Fund is not required to allocate its investments in any set percentages to any particular countries. The Fund is not constrained by company size or style limits and will invest across sectors. The Fund will invest in securities issued by companies of any size, although the Fund may invest a significant portion of its assets in companies of a particular market capitalization size at the discretion of the Subadviser.The Fund may overweight or underweight countries relative to its benchmark, the MSCI Emerging Markets Index. The Fund emphasizes securities that are ranked as undervalued, while underweighting or avoiding securities that appear overvalued. The Fund, from time to time, may invest a significant portion of its assets in one or more countries or regions.The Fund may invest in securities denominated in U.S. dollars, other major reserve currencies, such as the euro, yen and pound sterling, and currencies of other countries in which it can invest. The Fund typically maintains full currency exposure to those markets in which it invests. However, the Fund may from time to time hedge a portion of its foreign currency exposure into the U.S. dollar. The Fund’s equity securities generally consist of common and preferred stock. The Fund may also invest in depositary receipts.In order to generate additional income, the Fund may lend portfolio securities to broker-dealers and other financial institutions provided that the value of the loaned securities does not exceed 30% of the Fund’s total assets. These loans earn income for the Fund and are collateralized by cash and securities issued or guaranteed by the U.S. Government or its agencies or instrumentalities. Investors will be given at least 60 days’ written notice in advance of any change to the Fund’s 80% investment policy set forth above.
Read More

VCGEX - Performance

Return Ranking - Trailing

Period VCGEX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -11.9% 9.8% 6.50%
1 Yr 9.1% -13.6% 30.1% 25.17%
3 Yr -7.1%* -24.9% 7.2% 50.22%
5 Yr 0.8%* -8.7% 10.6% 57.66%
10 Yr 1.0%* -3.1% 6.1% 82.62%

* Annualized

Return Ranking - Calendar

Period VCGEX Return Category Return Low Category Return High Rank in Category (%)
2023 -6.5% -6.5% 35.5% 100.00%
2022 -37.1% -50.1% -2.4% 95.81%
2021 -0.5% -33.1% 22.5% 25.52%
2020 12.5% -22.1% 80.1% 67.75%
2019 18.2% -0.7% 42.0% 50.88%

Total Return Ranking - Trailing

Period VCGEX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.7% -11.9% 9.8% 6.50%
1 Yr 9.1% -13.6% 30.1% 25.17%
3 Yr -7.1%* -24.9% 7.2% 50.22%
5 Yr 0.8%* -8.7% 10.6% 57.66%
10 Yr 1.0%* -3.1% 6.1% 82.62%

* Annualized

Total Return Ranking - Calendar

Period VCGEX Return Category Return Low Category Return High Rank in Category (%)
2023 12.1% -2.7% 42.0% 40.11%
2022 -25.4% -42.2% 1.9% 70.95%
2021 1.2% -32.5% 33.1% 36.14%
2020 12.5% -20.0% 81.6% 75.00%
2019 18.2% 2.3% 42.0% 70.49%

NAV & Total Return History

VCGEX - Holdings

Concentration Analysis

VCGEX Category Low Category High VCGEX % Rank
Net Assets 660 M 682 K 103 B 43.78%
Number of Holdings 161 10 7049 28.65%
Net Assets in Top 10 203 M 118 K 19.2 B 42.30%
Weighting of Top 10 30.18% 0.7% 122.2% 60.99%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 7.98%
  2. Samsung Electronics Co Ltd 5.20%
  3. Tencent Holdings Ltd 4.61%
  4. Alibaba Group Holding Ltd 2.76%
  5. Petroleo Brasileiro SA 1.80%
  6. PDD Holdings Inc 1.78%
  7. SK Hynix Inc 1.70%
  8. NetEase Inc 1.54%
  9. ICICI Bank Ltd 1.48%
  10. State Street Navigator Securities Lending Government Money Market Portfolio 1.33%

Asset Allocation

Weighting Return Low Return High VCGEX % Rank
Stocks 		95.71% 0.00% 103.65% 67.47%
Preferred Stocks 		2.22% 0.00% 10.09% 23.56%
Cash 		2.07% -2.03% 99.29% 45.65%
Other 		0.00% -1.64% 50.31% 50.74%
Convertible Bonds 		0.00% 0.00% 7.40% 33.29%
Bonds 		0.00% 0.00% 94.30% 41.90%

Stock Sector Breakdown

Weighting Return Low Return High VCGEX % Rank
Financial Services 		24.11% 0.00% 48.86% 30.76%
Technology 		22.55% 0.00% 47.50% 46.34%
Basic Materials 		10.85% 0.00% 30.03% 23.58%
Communication Services 		9.32% 0.00% 39.29% 44.72%
Consumer Cyclical 		8.72% 0.00% 48.94% 85.50%
Energy 		7.36% 0.00% 24.80% 12.74%
Consumer Defense 		5.56% 0.00% 25.90% 65.31%
Industrials 		5.17% 0.00% 43.53% 64.36%
Utilities 		2.88% 0.00% 39.12% 24.39%
Real Estate 		2.06% 0.00% 17.15% 37.13%
Healthcare 		1.42% 0.00% 16.53% 86.31%

Stock Geographic Breakdown

Weighting Return Low Return High VCGEX % Rank
Non US 		86.26% 0.00% 100.18% 43.51%
US 		9.45% 0.00% 101.58% 54.62%

VCGEX - Expenses

Operational Fees

VCGEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.96% 0.03% 24.48% 77.82%
Management Fee 0.77% 0.00% 2.00% 32.71%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.06% 0.01% 0.85% 27.88%

Sales Fees

VCGEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

VCGEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

VCGEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 82.00% 0.00% 189.00% 80.13%

VCGEX - Distributions

Dividend Yield Analysis

VCGEX Category Low Category High VCGEX % Rank
Dividend Yield 0.00% 0.00% 10.29% 36.55%

Dividend Distribution Analysis

VCGEX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

VCGEX Category Low Category High VCGEX % Rank
Net Income Ratio 1.68% -1.98% 17.62% 23.06%

Capital Gain Distribution Analysis

VCGEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

VCGEX - Fund Manager Analysis

Managers

Anuj Arora

Start Date

Tenure

Tenure Rank

Oct 01, 2011

10.67

10.7%

Anuj Arora, Portfolio Manager, has been at JP Morgan Investment Mgmt Inc. since 2006 and is focused on portfolio construction and quantitative asset allocation for the global emerging markets. Prior to this, he was a quantitative analyst for Mesirow Financial and an analyst at Birkelbach Investment Securities. He holds an M.S. in finance from the Illinois Institute of Technology.

Joyce Weng

Start Date

Tenure

Tenure Rank

Apr 21, 2017

5.11

5.1%

Joyce Weng, Vice President, CFA and Portfolio Manager joined J.P. Morgan Investment Management, Inc. in 2010 and was on the U.S. Equity Behavioral Finance team from 2010 and 2011. Prior to joining JPMorgan, Joyce worked as a senior analyst at Goldman Sachs Asset Management. Joyce holds a B.A. in economics (cum laude) and a M.A. in statistics from Harvard University.

Harold Yu

Start Date

Tenure

Tenure Rank

Mar 28, 2022

0.18

0.2%

Mr. Yu, a Vice President, CFA charterholder and an employee since 2014, has been a portfolio manager of the Fund since March 2022. He has also been a product analyst within the adviser’s Emerging Markets and Asia Pacific Equities team since 2014.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 33.71 6.54 13.42

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