Not exactly. Let me try and explain.
VGA is a physical connector type, not a video format. VGA carries RGB analog video signals. RGB is red, green, and blue video signals, and both horizontal and vertical sync pulse signals.
When broken out into separate cables, RGB always has at least 3 cables, but as many as 5. The difference being that the video sync signal can be carried in 3 different ways:
1) Both sync signals are combined and put on the green video channel and you have 3 cables called RGsB, or RGB sync on green.
2) Both sync signals are combined and put on a separate 4th channel and you have 4 cables called RGBS.
3) Both sync signals are on separate channels and you have a total of 5 cables, called RGBHV. The VGA connector carries all 5 channels separately.
All variations of RGB are the exact same as far as video quality. There are devices called sync splitters or sync combiners that can convert any of these RGB versions into another with no signal degradation whatsoever.
Component video is also an analog video signal, but it's completely different than, and not compatible with, RGB. Component video is always on three cables, called Y, Pb, Pr or Y, Cb, Cr. The Y cable is green and carries the video image in black and white, the total brightness, and all the sync. Pb/Cb is the blue, and Pr/Cr is the red. The technical term used to describe how component video works is color difference because the two color channels are subtracted from the Y channel to get the green color of the image.
RGB is the more pure format, with slightly higher video quality.
To get from RGB to component video you need a transcoder. A good transcoder costs a lot more than the graphics card I'm looking for, because the only ones with component video output are older cards on ebay. A cheap graphics card will result in less video artifacts than using a cheap transcoder, which is specifically what I'm looking for.