TSP S Fund Performance 2026
+18.41% YTD through June 2026. Tracks the Dow Jones U.S. Completion Total Stock Market Index. Expense ratio: 0.059%.
Returns source: TSP.gov share-price history and fund performance pages · Data through June 2026
S Fund at a glance (2026)
Core metrics for the Small Cap Stock Index Investment Fund.
S Fund monthly returns — 2026
Monthly returns computed from official TSP.gov share prices.
| Month | S Fund Return | Notes |
|---|---|---|
| January 2026 | +2.41% | Source: TSP.gov share prices |
| February 2026 | +1.08% | Source: TSP.gov share prices |
| March 2026 | -4.58% | Source: TSP.gov share prices |
| April 2026 | +9.96% | Source: TSP.gov share prices |
| May 2026 | +4.49% | Source: TSP.gov share prices |
| June 2026 | +4.34% | Source: TSP.gov share prices |
| July 2026 | — | Not yet reported |
| YTD through June 2026 | +18.41% | Through 2026-06-30 |
Sources: FedTools compilation of TSP.gov share prices (https://www.tsp.gov/fund-performance/share-price-history/). See the June 2026 TSP returns post for FedTools monthly analysis.
What the S Fund tracks
The S Fund tracks the Dow Jones U.S. Completion Total Stock Market Index — essentially all U.S. publicly traded stocks NOT in the S&P 500. This means small and mid-cap companies: the suppliers, industrials, regional banks, and growing businesses outside the large-cap universe. The S Fund is the highest-volatility domestic U.S. equity fund in the TSP.
- Index trackedDow Jones U.S. Completion Total Stock Market Index
- Expense ratio0.059% (59 basis points) — FY2025 figure
- Risk profileVery High
- Appropriate forAggressive long-term investors willing to accept higher short-term volatility for potentially higher long-term returns.
- Key riskVery high market (equity) risk — the S Fund is more volatile than the C Fund and can diverge sharply from large-cap inde
S Fund longer-term returns (approximate)
Annualized figures based on TSP Annual Report data. These are approximate — verify at tsp.gov/fund-performance.
| Period | Approx. Annualized Return |
|---|---|
| 2025 (full calendar year) | +11.38% |
| 3-year annualized (through 2025) | +4.00% |
| 5-year annualized (through 2025) | +12.00% |
| 10-year annualized (through 2025) | +10.50% |
Important: Past performance does not guarantee future results. Longer-term figures are approximate from TSP Annual Report and fund performance disclosures; verify at tsp.gov before making investment decisions. This page is not investment advice.
Compare all TSP core funds — 2026 YTD
How the S Fund ranks against the other four core TSP funds through June 2026.
| Fund | YTD 2026 | Index tracked | Risk |
|---|---|---|---|
| S Fund← this fund | +18.41% | Dow Jones U.S. Completion Total Sto… | Very High |
| I Fund | +16.53% | MSCI ACWI IMI ex USA ex China ex Ho… | High |
| C Fund | +10.20% | S&P 500 | High |
| G Fund | +2.18% | U.S. Treasury securities (statutory… | Very Low |
| F Fund | +0.74% | Bloomberg U.S. Aggregate Bond Index | Low to Moderate |
FedTools 2026 compilation of TSP.gov share prices through 2026-06-30.
S Fund — frequently asked questions
What did the TSP S Fund return year-to-date in 2026?
The TSP S Fund returned +18.41% year-to-date through 2026-06-30. The fund tracks the Dow Jones U.S. Completion Total Stock Market Index. See the monthly returns table above for a full breakdown.
What does the TSP S Fund invest in?
The S Fund tracks the Dow Jones U.S. Completion Total Stock Market Index — essentially all U.S. publicly traded stocks NOT in the S&P 500. This means small and mid-cap companies: the suppliers, industrials, regional banks, and growing businesses outside the large-cap universe. The S Fund is the highest-volatility domestic U.S. equity fund in the TSP.
What is the expense ratio for the TSP S Fund?
The TSP administrative expense ratio is 0.059% (0.59 basis points), one of the lowest expense ratios of any retirement plan in the United States. This applies to all five core TSP funds — the G, F, C, S, and I funds share the same TSP administrative cost pool. By comparison, a typical mutual fund charges 0.5–1.5%. Source: TSP Administrative Expenses, published at https://www.tsp.gov/fund-performance/expense-ratio.html
Who should invest in the TSP S Fund?
Aggressive long-term investors willing to accept higher short-term volatility for potentially higher long-term returns. Often used as a complement to the C Fund to increase small/mid-cap exposure. Not appropriate as a sole holding near retirement. The S Fund has a Very High risk profile. Very high market (equity) risk — the S Fund is more volatile than the C Fund and can diverge sharply from large-cap indexes in either direction. Small-cap stocks are more sensitive to economic cycles and credit conditions.
Browse all TSP core funds
Monthly returns, expense ratio, and allocation guidance for every TSP core fund.
Investment Disclaimer: TSP fund returns are based on FedTools' compilation of official TSP.gov share prices and secondary sources. Past performance does not guarantee future results. This page is for informational purposes only and does not constitute investment advice. For personalized guidance, consult a financial advisor. Verify all figures at tsp.gov.