Tuesday's TSP Scorecard

Almost everything in the TSP lineup finished lower on Tuesday, March 3, and the international fund took the worst of it. The one exception was the G Fund, which ticked up 0.01% to $19.7308, as it usually does when stocks wobble.

Here is how the five core funds did:

  • I Fund: -3.64% to $59.1413
  • S Fund: -1.72% to $102.9777
  • C Fund: -0.94% to $109.2716
  • F Fund: -0.08% to $21.1564
  • G Fund: +0.01% to $19.7308

Moves Over 1%

The I Fund's 3.64% drop is the big number. It tracks the MSCI ACWI ex-US ex-China index, so a decline that size means international stocks were broadly under pressure. The fund is down 3.99% over five days, which tells us most of that loss landed in this one session. Even so, it remains the best performer of the year at +5.55%.

The S Fund fell 1.72%. It follows the Dow Jones U.S. Completion index, which covers mid-sized and smaller U.S. companies outside the S&P 500. Its five-day return is -0.99%, so it had gained a bit earlier in the week before giving it back.

The C Fund fell 0.94%, just shy of the 1% line. It mirrors the S&P 500, which dropped by the same 0.94%. Year to date, the C Fund is at -0.43%.

Bonds and the G Fund

The F Fund slipped 0.08%, in line with the Bloomberg U.S. Aggregate Index it follows. The 10-year Treasury yield rose 0.20% to 4.056, and higher yields tend to nudge bond prices down a little. The G Fund pays a Treasury-based rate and does not swing with the market, so its tiny gain is routine.

L Funds

The L Funds blend the five core funds, so their losses scale with how much stock each one holds.

  • L Income: -0.54%
  • L 2030: -1.12%
  • L 2035: -1.30%
  • L 2040: -1.42%
  • L 2045: -1.52%
  • L 2050: -1.62%
  • L 2055 through L 2075: -1.96% each

The pattern is simple. Later target dates hold more stock, including the I Fund, so they fell more. The five longest-dated funds posted identical one-day, five-day and year-to-date numbers (-1.96%, -2.04%, +1.89%), which suggests they currently hold the same mix. Every L Fund is still positive for the year except none; all sit between +1.09% and +1.89%.

What Moved IRA Index Funds and ETFs

The index figures below are labeled as the prior session's close, but they line up closely with the TSP moves.

  • S&P 500: -0.94% to 6816.63
  • Dow Jones Industrial Average: -0.82% to 48501.27
  • Nasdaq Composite: -1.02% to 22516.689
  • Vanguard Total Stock Market ETF (VTI): -1.00% to $335.73
  • Vanguard Total International Stock ETF (VXUS): -3.45% to $79.56
  • Vanguard Total Bond Market ETF (BND): -0.11% to $74.56

U.S. stocks slid by roughly one percent across the board, with the Dow holding up slightly better than the Nasdaq. VTI's 1.00% decline is what a broad U.S. stock fund looks like on a day like this. VXUS fell 3.45%, nearly matching the I Fund's drop, which confirms the weakness was international rather than something specific to the TSP. BND's small decline fits the modest rise in Treasury yields. The data here does not say what caused the selling, so I will not guess.

What It Means for Your Plan

A 3.64% drop in the I Fund looks sharp on a single day, but one session rarely changes a long-term plan. Retirement accounts are built to ride out days like this, and the I Fund is still ahead for the year. If you hold a target-date L Fund, its mix of stocks and bonds is already designed to absorb a day like this. If you hold a mix of funds, the G and F funds did their usual job of cushioning the blow. Nothing here is personal advice. It is a snapshot of one Tuesday.