The short version

Every TSP fund finished Friday, April 17, higher. Stock funds did the heavy lifting, bonds edged up, and the G Fund did what the G Fund does.

Stock funds: three moves over 1%

The S Fund led at +1.96%, closing at $108.9131. It tracks the Dow Jones U.S. Completion index, which covers mid-sized and smaller companies outside the S&P 500. It also had the best five-day run, up 5.62%, and is now up 7.13% for the year.

The I Fund gained 1.24% to $62.1880. It follows the MSCI ACWI ex-US ex-China index, so it moves with foreign stocks excluding China. Its 5-day gain is 3.12%, and its 10.99% year-to-date return is the best of any TSP fund this year.

The C Fund rose 1.20% to $114.4069, matching the S&P 500's 1.20% gain in the index snapshot below. Over five days it's up 4.55%, and for the year it's up 4.25%.

Bonds and the G Fund

The F Fund added 0.38% to $21.0773. It follows the Bloomberg U.S. Aggregate bond index, and the bond ETF BND rose a similar 0.39%. The 10-year Treasury yield fell 1.46% to 4.246. Bond prices generally rise when yields fall, which fits the F Fund's small gain.

The G Fund gained 0.01% to $19.8322. It pays a Treasury-based rate, so it doesn't swing with markets. Its year-to-date return is 1.22%.

L Funds: the blend shows up in the numbers

L Funds mix the five core funds, and the more stock in the mix, the bigger Friday's gain:

  • L 2055 through L 2075 rose about 1.30% to 1.31%, all above 1%.
  • L 2050 gained 1.10%, and L 2045 gained 1.04%.
  • L 2040 rose 0.97%, just under the line.
  • L 2035 gained 0.90%, L 2030 gained 0.76%.
  • L Income rose 0.39%, close to the F Fund, since it leans toward bonds and the G Fund.

The longest-dated funds are up 6.94% this year, against 2.87% for L Income.

What moved the IRA index funds

The index snapshot below is labeled as the prior session close, and the S&P 500 figure lines up with the C Fund's gain. The numbers don't say what set off the rally, so I won't guess at a reason.

  • Dow Jones Industrial Average: +1.79% to 49,447.43, the strongest of the big three.
  • Nasdaq Composite: +1.52% to 24,468.48.
  • S&P 500: +1.20% to 7,126.06.

Among the ETFs many IRAs hold, VTI (total U.S. stocks) rose 1.30% to $350.53. VXUS (total international) gained 1.35% to $83.75, in step with the I Fund's strong day. BND (total U.S. bonds) rose 0.39% to $74.06.

Stocks and bonds both rose, and the 10-year yield at 4.246 was lower. A broad gain like that helps most diversified portfolios, whatever the mix.

What it means for your plan

One good Friday doesn't change a retirement plan, and one bad Friday wouldn't either. The five-day gains look nice, but short stretches can reverse just as quickly. If you're in a L Fund or a diversified IRA fund, your mix already did its job today: stock-heavy pieces rose more and bond-heavy pieces rose less.

The useful questions are the slow ones. Are you contributing steadily? Does your mix still fit your timeline? Is your tolerance for losses what you thought it was? Those matter far more than any single day's move. This recap is general information, not advice for your situation.