Returns to Oct 27, 2026
- Year to date
- 10.8%
- from Dec 31, 2025
- 1 year
- 11.3%
- from Oct 27, 2025
- 3 years
- 18.3%
- a year, from Oct 27, 2023
- 5 years
- 8.9%
- a year, from Oct 27, 2021
- 10 years
- 10.5%
- a year, from Oct 27, 2016
- Since start
- 8.2%
- a year, from Jul 29, 2005
Spans longer than a year show the yearly rate. Share prices include the fund's earnings and expenses, so a price change is the return.
What the L 2040 Fund holds
A mix of the G, F, C, S and I Funds that becomes steadily more conservative as its target year nears. When its mix matches the L Income Fund it retires and merges into L Income, on June 30 of its target year.
- First priced
- Jul 29, 2005
- Retires
- June 30 of 2040, when it merges into the L Income Fund.
Since Jul 29, 2005
$10,000 on Jul 29, 2005 would be about
$53,700
by Oct 27, 2026. In the C Fund over the same span: about $96,600.
- Growth per year
- 8.2%
- C Fund 11.0%
- Best year
- 25.2%
- 2009
- Worst year
- −31.5%
- 2008
- Biggest drop
- 48%
- peak to trough; C Fund 55%
Year by year
| Year | L 2040 | C Fund |
|---|---|---|
| 2005* | 4.2% | 5.0% |
| 2006 | 16.5% | 15.8% |
| 2007 | 7.4% | 5.5% |
| 2008 | −31.5% | −37.0% |
| 2009 | 25.2% | 26.7% |
| 2010 | 13.9% | 15.1% |
| 2011 | −1.0% | 2.1% |
| 2012 | 14.3% | 16.1% |
| 2013 | 23.2% | 32.4% |
| 2014 | 6.2% | 13.8% |
| 2015 | 0.7% | 1.5% |
| 2016 | 7.9% | 12.0% |
| 2017 | 16.8% | 21.8% |
| 2018 | −4.9% | −4.4% |
| 2019 | 20.7% | 31.5% |
| 2020 | 13.2% | 18.3% |
| 2021 | 14.5% | 28.7% |
| 2022 | −12.9% | −18.1% |
| 2023 | 18.0% | 26.2% |
| 2024 | 12.9% | 25.0% |
| 2025 | 17.3% | 17.8% |
| 2026* | 10.8% | 13.8% |
* part of a year. Returns are from official daily share prices; each move happens at the close of its day.
Month by month
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2005 | 0.4% | 1.4% | −1.9% | 3.1% | 1.3% | 4.2%* | |||||||
| 2006 | 3.8% | −0.1% | 2.0% | 1.7% | −2.9% | 0.3% | 0.1% | 2.2% | 1.4% | 3.3% | 2.3% | 1.3% | 16.5% |
| 2007 | 1.5% | −0.6% | 1.3% | 3.3% | 2.8% | −0.9% | −2.5% | 0.9% | 3.5% | 2.4% | −3.4% | −0.8% | 7.4% |
| 2008 | −5.4% | −1.8% | −0.3% | 4.3% | 1.6% | −6.7% | −1.3% | 0.1% | −8.3% | −15.4% | −5.9% | 3.6% | −31.5% |
| 2009 | −7.7% | −8.5% | 7.1% | 9.4% | 6.2% | 0.1% | 7.0% | 3.4% | 3.6% | −2.2% | 4.0% | 2.1% | 25.2% |
| 2010 | −2.9% | 2.2% | 5.1% | 1.0% | −7.0% | −3.5% | 6.6% | −3.3% | 7.8% | 3.2% | −0.6% | 5.7% | 13.9% |
| 2011 | 1.8% | 2.9% | −0.1% | 3.2% | −1.2% | −1.3% | −1.5% | −5.4% | −6.9% | 8.8% | −0.6% | 0.1% | −1.0% |
| 2012 | 4.3% | 3.5% | 1.7% | −0.6% | −6.0% | 3.8% | 0.8% | 2.2% | 2.1% | −0.7% | 1.1% | 1.7% | 14.3% |
| 2013 | 4.1% | 0.5% | 2.4% | 2.1% | 0.5% | −1.4% | 4.3% | −1.9% | 3.9% | 3.1% | 1.7% | 1.8% | 23.2% |
| 2014 | −2.3% | 3.9% | 0.1% | 0.3% | 1.6% | 1.8% | −1.6% | 2.4% | −2.2% | 1.6% | 1.4% | −0.8% | 6.2% |
| 2015 | −1.0% | 4.4% | −0.6% | 1.0% | 0.7% | −1.5% | 1.3% | −4.7% | −2.7% | 5.6% | 0.2% | −1.6% | 0.7% |
| 2016 | −4.2% | −0.5% | 5.3% | 0.9% | 1.0% | −0.4% | 3.3% | 0.2% | 0.4% | −1.7% | 1.9% | 1.8% | 7.9% |
| 2017 | 1.7% | 2.3% | 0.7% | 1.2% | 1.4% | 0.5% | 1.6% | 0.2% | 1.9% | 1.5% | 1.8% | 0.9% | 16.8% |
| 2018 | 3.7% | −3.0% | −1.0% | 0.6% | 1.1% | 0.1% | 2.2% | 1.5% | 0.2% | −5.5% | 1.1% | −5.6% | −4.9% |
| 2019 | 5.9% | 2.4% | 1.0% | 2.6% | −4.1% | 4.9% | 0.2% | −1.2% | 1.5% | 2.0% | 2.1% | 2.2% | 20.7% |
| 2020 | −0.6% | −5.6% | −10.4% | 8.0% | 3.9% | 2.1% | 3.3% | 4.6% | −2.3% | −1.9% | 9.7% | 3.3% | 13.2% |
| 2021 | −0.4% | 2.0% | 2.1% | 3.2% | 1.2% | 0.9% | 1.1% | 1.8% | −2.8% | 3.7% | −1.9% | 3.0% | 14.5% |
| 2022 | −4.0% | −1.8% | 1.3% | −6.1% | −0.5% | −5.3% | 5.9% | −3.3% | −7.0% | 5.3% | 6.2% | −3.2% | −12.9% |
| 2023 | 5.8% | −1.9% | 2.1% | 1.2% | −0.8% | 4.4% | 2.5% | −1.9% | −3.2% | −2.2% | 7.0% | 4.4% | 18.0% |
| 2024 | 0.4% | 3.2% | 2.5% | −3.0% | 3.6% | 1.1% | 2.0% | 1.9% | 1.3% | −1.7% | 3.4% | −2.3% | 12.9% |
| 2025 | 2.6% | −0.6% | −2.8% | 1.0% | 4.3% | 3.5% | 0.8% | 2.3% | 2.5% | 1.7% | 0.3% | 0.8% | 17.3% |
| 2026 | 2.3% | 1.5% | −4.7% | 7.2% | 3.7% | 0.2% | −0.7% | 2.2% | −1.1% | 0.2%* | 10.8%* |
Blue, the month was up; red, it was down; the deeper the colour, the bigger the move. * part of a month or year.
| Over | Spans | Best | Worst | Average | Lost money |
|---|---|---|---|---|---|
| 1 year | 20 | 25.2%to 2009 | −31.5%to 2008 | 8.9% | 4 of 20 |
| 3 years | 18 | 16.1%to 2021 | −5.0%to 2008 | 7.4% | 3 of 18 |
| 5 years | 16 | 14.7%to 2013 | 0.7%to 2011 | 8.1% | 0 of 16 |
| 10 years | 11 | 10.9%to 2021 | 5.4%to 2016 | 8.3% | 0 of 11 |
Every span
| Ending | 1 year | 3 years | 5 years | 10 years |
|---|---|---|---|---|
| 2025 | 17.3% | 16.0% | 9.3% | 9.8% |
| 2024 | 12.9% | 5.1% | 8.5% | 8.2% |
| 2023 | 18.0% | 5.6% | 10.0% | 7.5% |
| 2022 | −12.9% | 4.1% | 5.3% | 8.0% |
| 2021 | 14.5% | 16.1% | 11.7% | 10.9% |
| 2020 | 13.2% | 9.1% | 10.4% | 9.3% |
| 2019 | 20.7% | 10.3% | 7.8% | 9.4% |
| 2018 | −4.9% | 6.2% | 5.1% | 9.8% |
| 2017 | 16.8% | 8.3% | 10.7% | 6.3% |
| 2016 | 7.9% | 4.9% | 10.2% | 5.4% |
| 2015 | 0.7% | 9.7% | 8.3% | 6.2% |
| 2014 | 6.2% | 14.4% | 11.0% | |
| 2013 | 23.2% | 11.7% | 14.7% | |
| 2012 | 14.3% | 8.8% | 2.0% | |
| 2011 | −1.0% | 12.2% | 0.7% | |
| 2010 | 13.9% | −0.8% | 4.1% | |
| 2009 | 25.2% | −2.7% | ||
| 2008 | −31.5% | −5.0% | ||
| 2007 | 7.4% | |||
| 2006 | 16.5% |
Each figure is the yearly rate over a span ending on the last priced day of that year. A blank cell means the span starts before the fund did.
| High | Low | Fall | Fell over | Back after |
|---|---|---|---|---|
| Oct 31, 2007 | Mar 9, 2009 | −48.4% | 1.4 yrs | 3.5 yrs |
| Feb 12, 2020 | Mar 23, 2020 | −26.1% | 40 days | 182 days |
| Nov 8, 2021 | Oct 12, 2022 | −20.0% | 338 days | 2.1 yrs |
| Apr 29, 2011 | Oct 3, 2011 | −17.4% | 157 days | 319 days |
| Sep 21, 2018 | Dec 24, 2018 | −13.7% | 94 days | 203 days |
Past performance does not predict future returns. This is not investment advice.
Official TSP share prices through Oct 27, 2026.
Open the L 2040 in the backtester to test a plan that moves in and out of it, or see every fund.