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Name

As of 11/22/2024

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

$6.42

$814 M

2.18%

$0.14

0.95%

Vitals

YTD Return

12.3%

1 yr return

16.9%

3 Yr Avg Return

-2.1%

5 Yr Avg Return

2.7%

Net Assets

$814 M

Holdings in Top 10

26.9%

52 WEEK LOW AND HIGH

$6.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.95%

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 11/22/2024

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

$6.42

$814 M

2.18%

$0.14

0.95%

VCGEX - Profile

Distributions

  • YTD Total Return 12.3%
  • 3 Yr Annualized Total Return -2.1%
  • 5 Yr Annualized Total Return 2.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.68%
DIVIDENDS
  • Dividend Yield 2.2%
  • 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. The Subadviser considers an emerging markets country to include any country that is:(1)generally recognized to be an emerging market country by the international financial community, includingtheWorld Bank;(2)classified by the United Nationsas a developing country; or (3)included in the MSCIEmergingMarkets Index (the “MSCI EM Index”). The Subadviser determines that an investment is tied economically to an emerging marketif such investment satisfies one or more of the following conditions:(1) the issuer’s primary trading market is in an emerging market; (2)the issuer is organized under the laws of, derives at least 50% of its revenue from, or has at least 50% of its assets in emerging markets; and (3) the investment is included in an index representative of emerging markets. Equity securities include common stock, preferred stock, convertible securities and depositary receipts. Generally,the Fund will invest in equities or other financial instruments that are components of, or have characteristics similar to,the securities included in the MSCI Emerging Markets Index. The MSCI Emerging Markets Index is a capitalization-weighted index from a broad range of industries chosen for market size, liquidity and industry group representation. The Fund primarily seeks to buy common stock and may also invest in preferred stock and convertible securities.From time to time, the Fund may invest in shares of companies through“new issues” or initial public offerings (“IPOs”). The Fund may use derivatives, including options, futures, swaps (including, but not limited to, total return swaps, some of which may be referred to as contracts for difference) and forward contracts, both to seek to increase the return of the Fund and to hedge (or protect) the value of its assets against adverse movements in currency exchange rates, interest rates and movements in the securities markets.In order to manage cash flows into or out of the Fund effectively, the Fund may buy and sell financial futures contracts or options on such contracts. Derivatives are financial instruments whose value is derived from another security, a currency or an index,including but not limited to the MSCI Emerging Markets Index. The use of options, futures, swaps (including, but not limited to, total return swaps, some of which may be referred to as contracts for difference) and forward contracts can be effective in protecting or enhancing the value of the Fund’s assets.The Fund may also gain exposure to securities of emerging markets companies through its investments in other investment companies, including exchange-traded funds, that invest in such securities.The Fund seeks to pursue its investment objective by investing in equity securities in adisciplinedmanner,by using proprietaryreturn forecast models thatincorporate quantitative analysis.Theseforecast models are designed to identify aspects of mispricing across stockswhich the Fund can seek to capture by over-and under-weighting particularequities while seeking to control incremental risk.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.
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VCGEX - Performance

Return Ranking - Trailing

Period VCGEX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.3% -12.0% 36.6% 13.17%
1 Yr 16.9% -7.9% 39.8% 14.02%
3 Yr -2.1%* -13.5% 11.1% 40.97%
5 Yr 2.7%* -5.3% 12.0% 55.28%
10 Yr 1.8%* -2.0% 6.4% 79.45%

* 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% 95.63%
2021 -0.5% -33.1% 22.5% 26.04%
2020 12.5% -22.1% 80.1% 67.47%
2019 18.2% -0.7% 42.0% 50.33%

Total Return Ranking - Trailing

Period VCGEX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.3% -12.0% 36.6% 13.17%
1 Yr 16.9% -7.9% 39.8% 14.02%
3 Yr -2.1%* -13.5% 11.1% 40.97%
5 Yr 2.7%* -5.3% 12.0% 55.28%
10 Yr 1.8%* -2.0% 6.4% 79.45%

* Annualized

Total Return Ranking - Calendar

Period VCGEX Return Category Return Low Category Return High Rank in Category (%)
2023 12.1% -2.7% 42.0% 39.77%
2022 -25.4% -42.2% 1.9% 70.31%
2021 1.2% -32.5% 33.1% 36.67%
2020 12.5% -20.0% 81.6% 74.56%
2019 18.2% 2.3% 42.0% 70.33%

NAV & Total Return History

VCGEX - Holdings

Concentration Analysis

VCGEX Category Low Category High VCGEX % Rank
Net Assets 814 M 682 K 103 B 40.14%
Number of Holdings 418 9 7534 14.93%
Net Assets in Top 10 205 M 290 K 23.8 B 43.94%
Weighting of Top 10 26.94% 2.9% 101.1% 80.39%

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 9.79%
  2. Tencent Holdings Ltd 4.61%
  3. Samsung Electronics Co Ltd 3.44%
  4. Alibaba Group Holding Ltd 2.37%
  5. Infosys Ltd 1.29%
  6. Meituan 1.16%
  7. ICICI Bank Ltd 1.13%
  8. Reliance Industries Ltd 1.12%
  9. Hon Hai Precision Industry Co Ltd 1.03%
  10. MediaTek Inc 1.00%

Asset Allocation

Weighting Return Low Return High VCGEX % Rank
Stocks 		97.75% 0.00% 107.82% 41.27%
Preferred Stocks 		2.04% 0.00% 13.31% 23.38%
Cash 		0.22% -2.03% 98.08% 88.45%
Convertible Bonds 		0.00% 0.00% 7.40% 44.26%
Bonds 		0.00% 0.00% 88.10% 48.59%
Other 		-0.01% -1.11% 26.93% 98.17%

Stock Sector Breakdown

Weighting Return Low Return High VCGEX % Rank
Financial Services 		24.11% 0.00% 48.86% 30.67%
Technology 		22.55% 0.00% 47.50% 45.93%
Basic Materials 		10.85% 0.00% 30.03% 24.54%
Communication Services 		9.32% 0.00% 39.29% 45.08%
Consumer Cyclical 		8.72% 0.00% 48.94% 86.02%
Energy 		7.36% 0.00% 24.80% 12.70%
Consumer Defense 		5.56% 0.00% 25.90% 65.05%
Industrials 		5.17% 0.00% 43.53% 64.62%
Utilities 		2.88% 0.00% 39.12% 24.11%
Real Estate 		2.06% 0.00% 17.15% 37.09%
Healthcare 		1.42% 0.00% 16.53% 86.31%

Stock Geographic Breakdown

Weighting Return Low Return High VCGEX % Rank
Non US 		92.56% 0.00% 100.18% 25.07%
US 		5.20% 0.00% 100.95% 71.13%

VCGEX - Expenses

Operational Fees

VCGEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.95% 0.03% 29.98% 78.39%
Management Fee 0.76% 0.00% 2.00% 32.58%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.06% 0.01% 0.85% 29.03%

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% 80.76%

VCGEX - Distributions

Dividend Yield Analysis

VCGEX Category Low Category High VCGEX % Rank
Dividend Yield 2.18% 0.00% 9.74% 36.06%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

VCGEX Category Low Category High VCGEX % Rank
Net Income Ratio 1.68% -1.98% 17.62% 23.39%

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 6.65 13.42

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