Asset Allocation Fund
Fund
VCAAX
Price as of:
$12.11
+ $0.02
+ 0.17%
Primary Theme
fund company
Name
As of 11/01/2024Price
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
Vitals
YTD Return
14.2%
1 yr return
23.7%
3 Yr Avg Return
4.4%
5 Yr Avg Return
8.1%
Net Assets
$147 M
Holdings in Top 10
27.4%
52 WEEK LOW AND HIGH
$12.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.70%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 199.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
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
VCAAX - Profile
Distributions
- YTD Total Return 14.2%
- 3 Yr Annualized Total Return 4.4%
- 5 Yr Annualized Total Return 8.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.74%
- Dividend Yield 1.4%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAsset Allocation Fund
-
Fund Family NameVALIC Company
-
Inception DateSep 01, 2006
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeffrey Geller
Fund Description
The Fund attempts to achieve its investment objective by investing in a diverse combination of equity and fixed income investments. Under normal circumstances, the Fund intends to invest approximately 60% of its assets in equity securities and approximately 40% of its assets in fixed income securities.The equity securities in which the Fund primarily intends to invest include common stocks of large and medium capitalization U.S. companies included in the S&P 500®Index. Sector by sector, the Fund’s weightings in its equity portion are similar to those of the S&P 500® Index. Within each sector, the Fund focuses on those equity securities that it considers most undervalued and seeks to outperform the S&P 500® Index through superior stock selection. By emphasizing undervalued equity securities, the Fund seeks to produce returns that exceed those of the S&P 500® Index. At the same time, by controlling the sector weightings of the Fund so they can differ only moderately from the sector weightings of the S&P 500®Index, the Fund seeks to limit its volatility to that of the overall market, as represented by this index. It will also look to identify companies that regularly pay dividends.In managing the equity portion of the Fund, the subadviser employs a three-step process that combines research, valuation and stock selection. The subadviser takes an in-depth look at company prospects over a period as long as five years, which is designed to provide insight into a company’s real growth potential. The research findings allow the subadviser to rank the companies in each sector group according to their relative value.The subadviser then buys and sells equity securities, using the research and valuation rankings as a basis. In general, the subadviser buys equity securities that are identified as undervalued and considers selling them when they appear to be overvalued. Along with attractive valuation, the subadviser often considers a number of other criteria:•catalysts that could trigger a rise in a stock’s price;•high potential reward compared to potential risk; and•temporary mispricings caused by apparent market overreactions.The fixed income securities in which the Fund intends to invest include corporate bonds, U.S. treasury obligations, including treasury coupon strips and treasury principal strips, and other U.S. government and agency securities, and asset-backed, mortgage-related and mortgage-backed securities included in the Bloomberg U.S. Aggregate Bond Index. Mortgage-related and mortgage-backed securities may be structured as collateralized mortgage obligations (agency and non-agency), stripped mortgage-backed securities, commercial mortgage-backed securities, mortgage pass-through securities and cash and cash equivalents. The Fund will invest only in fixed income securities that are investment grade at the time of purchase and may invest in fixed income securities of any maturity or duration.All fixed income securities in which the Fund will invest will be U.S. dollar-denominated, although they may be issued by a foreign corporation or a U.S. affiliate of a foreign corporation or a foreign government or its agencies and instrumentalities. The subadviser may invest all or a significant portion of the assets of the Fund’s fixed income portion in mortgage-related and mortgage-backed securities in the subadviser’s discretion. The Fund expects to invest no more than 10% of the fixed income portion’s assets in “sub-prime” mortgage-related securities considered to be investment grade at the time of purchase.In choosing fixed income securities, the subadviser buys and sells securities and investments for the Fund based on its view of individual securities and market sectors. Taking a long-term approach, the subadviser looks for individual fixed income investments that it believes will perform well over market cycles. The subadviser is value oriented and makes decisions to purchase and sell individual securities and instruments after performing a risk/reward analysis that includes an evaluation of interest rate risk, credit risk, duration, liquidity, legal provisions and the structure of the transaction.The Fund may invest in derivatives, such as futures contracts. With respect to its fixed income allocations, the Fund may use futures contracts to manage and hedge interest rate risk associated with these investments, as well as to lengthen or shorten the duration of this portion of the portfolio. With respect to its equity and fixed income allocations, the Fund may use futures contracts to gain or reduce exposure to all or a portion of the stock or fixed income markets, respectively, and for cash management.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.
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VCAAX - Performance
Return Ranking - Trailing
| Period | VCAAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.2% | -3.2% | 57.3% | 9.84% |
| 1 Yr | 23.7% | -2.8% | 64.3% | 9.26% |
| 3 Yr | 4.4%* | -5.5% | 13.7% | 14.07% |
| 5 Yr | 8.1%* | -3.3% | 19.4% | 25.92% |
| 10 Yr | 1.9%* | 0.9% | 11.9% | 98.93% |
* Annualized
Return Ranking - Calendar
| Period | VCAAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.9% | -12.2% | 23.9% | 45.45% |
| 2022 | -28.2% | -34.7% | 2.8% | 96.92% |
| 2021 | 15.5% | -11.9% | 18.1% | 1.37% |
| 2020 | 8.1% | -20.9% | 39.7% | 44.29% |
| 2019 | 4.4% | 0.8% | 25.7% | 99.18% |
Total Return Ranking - Trailing
| Period | VCAAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.2% | -3.2% | 57.3% | 9.84% |
| 1 Yr | 23.7% | -2.8% | 64.3% | 9.26% |
| 3 Yr | 4.4%* | -5.5% | 13.7% | 14.07% |
| 5 Yr | 8.1%* | -3.3% | 19.4% | 25.92% |
| 10 Yr | 1.9%* | 0.9% | 11.9% | 98.93% |
* Annualized
Total Return Ranking - Calendar
| Period | VCAAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 18.3% | -12.2% | 26.8% | 9.81% |
| 2022 | -16.4% | -29.0% | 10.9% | 77.86% |
| 2021 | 16.7% | -3.0% | 27.3% | 13.35% |
| 2020 | 8.1% | -19.5% | 40.6% | 80.00% |
| 2019 | 4.4% | 2.2% | 32.7% | 99.84% |
NAV & Total Return History
VCAAX - Holdings
Concentration Analysis
| VCAAX | Category Low | Category High | VCAAX % Rank | |
|---|---|---|---|---|
| Net Assets | 147 M | 789 K | 230 B | 80.37% |
| Number of Holdings | 602 | 2 | 16015 | 21.07% |
| Net Assets in Top 10 | 41.7 M | 577 K | 69.8 B | 84.42% |
| Weighting of Top 10 | 27.44% | 10.8% | 122.7% | 78.35% |
Top 10 Holdings
- Microsoft Corp 5.30%
- Apple Inc 4.76%
- NVIDIA Corp 4.14%
- Amazon.com Inc 2.57%
- Meta Platforms Inc 1.97%
- U.S. Treasury Notes 1.94%
- FIXED INC CLEARING CORP.REPO 1.75%
- UnitedHealth Group Inc 1.73%
- Alphabet Inc 1.66%
- Wells Fargo Co 1.61%
Asset Allocation
| Weighting | Return Low | Return High | VCAAX % Rank | |
|---|---|---|---|---|
| Stocks | 59.98% | 0.00% | 100.16% | 74.75% |
| Bonds | 33.53% | 0.00% | 74.58% | 24.39% |
| Other | 6.29% | -42.55% | 113.97% | 3.90% |
| Convertible Bonds | 0.37% | 0.00% | 23.84% | 69.91% |
| Cash | 0.28% | -7.92% | 100.00% | 74.89% |
| Preferred Stocks | 0.00% | 0.00% | 23.91% | 53.10% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | VCAAX % Rank | |
|---|---|---|---|---|
| Technology | 22.59% | 0.00% | 44.21% | 23.62% |
| Healthcare | 14.17% | 0.00% | 29.35% | 42.13% |
| Financial Services | 14.15% | 0.00% | 38.77% | 57.73% |
| Consumer Cyclical | 13.80% | 0.00% | 19.36% | 4.96% |
| Industrials | 11.21% | 0.00% | 24.37% | 32.51% |
| Communication Services | 7.59% | 0.00% | 38.10% | 40.82% |
| Utilities | 4.39% | 0.00% | 99.55% | 18.66% |
| Real Estate | 3.49% | 0.00% | 65.01% | 44.61% |
| Basic Materials | 3.12% | 0.00% | 33.35% | 73.18% |
| Consumer Defense | 2.77% | 0.00% | 15.14% | 90.38% |
| Energy | 2.72% | 0.00% | 85.65% | 86.88% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | VCAAX % Rank | |
|---|---|---|---|---|
| US | 59.98% | 0.00% | 100.16% | 68.69% |
| Non US | 0.00% | 0.00% | 39.06% | 53.54% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | VCAAX % Rank | |
|---|---|---|---|---|
| Securitized | 42.49% | 0.00% | 92.13% | 3.63% |
| Corporate | 25.37% | 0.00% | 98.21% | 69.62% |
| Government | 23.01% | 0.00% | 97.26% | 64.24% |
| Cash & Equivalents | 0.28% | 0.00% | 99.92% | 67.68% |
| Derivative | 0.00% | -2.87% | 42.43% | 29.44% |
| Municipal | 0.00% | 0.00% | 24.80% | 76.45% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | VCAAX % Rank | |
|---|---|---|---|---|
| US | 33.53% | 0.00% | 74.58% | 23.81% |
| Non US | 0.00% | 0.00% | 15.37% | 46.18% |
VCAAX - Expenses
Operational Fees
| VCAAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.70% | 0.03% | 17.63% | 76.47% |
| Management Fee | 0.50% | 0.00% | 1.83% | 55.59% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.06% | 0.01% | 0.83% | 34.22% |
Sales Fees
| VCAAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| VCAAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 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.
| VCAAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 199.00% | 0.00% | 343.00% | 96.92% |
VCAAX - Distributions
Dividend Yield Analysis
| VCAAX | Category Low | Category High | VCAAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.39% | 0.00% | 17.90% | 73.78% |
Dividend Distribution Analysis
| VCAAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| VCAAX | Category Low | Category High | VCAAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.74% | -2.34% | 19.41% | 71.51% |
Capital Gain Distribution Analysis
| VCAAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 07, 2024 | $0.168 | OrdinaryDividend |
| Mar 07, 2023 | $0.116 | OrdinaryDividend |
| Mar 07, 2023 | $0.242 | CapitalGainShortTerm |
| Mar 07, 2023 | $0.269 | CapitalGainLongTerm |
| Mar 09, 2022 | $0.251 | OrdinaryDividend |
| Mar 09, 2022 | $1.248 | CapitalGainShortTerm |
| Mar 09, 2022 | $0.259 | CapitalGainLongTerm |
| Mar 10, 2021 | $0.130 | OrdinaryDividend |
VCAAX - Fund Manager Analysis
Managers
Jeffrey Geller
Start Date
Tenure
Tenure Rank
Jan 11, 2021
1.38
1.4%
Jeffrey Geller, CFA, managing director, is a Chief Investment Officer of Multi-Asset Solutions, where he is responsible for investment oversight of all mandates managed in New York. This includes providing oversight with respect to manager and strategy suitability and fit and ensuring that the team's asset allocation views are reflected appropriately across a diverse set of mandates. Jeff is also a portfolio manager for less constrained multi-asset class portfolios as well as portfolios with alternatives exposure. Before joining the firm in 2006, Jeff was director of Hedge Fund Investments at Russell Investment Group and served as chairman of the Firm's hedge fund investment committee. Prior to that, he was a senior partner at Credit Suisse Asset Management's BEA Associates unit where he had responsibility for managing equity, currency overlay and relative value arbitrage strategies. Jeff earned a Bachelor of Arts in Government from Clark University and an M.B.A. in Finance from the University of Chicago Graduate School Of Business. He is a CFA charterholder and is Series 24, 7, and 63 licensed
Morgan Moriarty
Start Date
Tenure
Tenure Rank
Jan 11, 2021
1.38
1.4%
Gerhardt (Gary) Herbert
Start Date
Tenure
Tenure Rank
Jan 11, 2021
1.38
1.4%
Mr. Herbert has been an employee of JPMIM and the Head of GTAA and Diversified Strategies in the U.S for MAS since 2020Gary is a portfolio manager and head of global credit. Gary joined Brandywine Global in March 2010, bringing with him over 20 years of high yield experience. Previously, Gary was a Managing Director, Portfolio Manager with Guggenheim Partners, LLC (2009-2010); a Managing Director, Portfolio Manager with Dreman Value Management, LLC (2007-2009); and an Executive Director, Portfolio Manager (1999-2007) and Associate (1994-1998) with Morgan Stanley Investment Management.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 34.51 | 6.36 | 2.41 |