After a rough March that left most TSP funds in negative territory, April delivered a welcome turnaround in TSP performance. Every fund in the Thrift Savings Plan finished the month in positive territory, with the three stock funds posting impressive returns sure to bring a smile back to the faces of TSP investors.
April TSP Performance by Fund
| Fund | April 2026 | YTD 2026 | 12-Month |
| G Fund | +0.36% | +1.41% | +4.37% |
| F Fund | +0.12% | +0.16% | +4.07% |
| C Fund | +10.49% | +5.70% | +31.03% |
| S Fund | +9.96% | +8.61% | +33.88% |
| I Fund | +9.11% | +11.12% | +35.03% |
| L Income | +2.95% | +3.21% | +11.62% |
What Drove the Recovery
The April rebound was not random. Markets responded positively to easing geopolitical fears, stronger-than-expected corporate earnings — particularly in the technology and artificial intelligence sectors — and solid first-quarter economic growth. In short, March priced in a crisis that did not materialize, and April reversed it quickly.
The C Fund’s 10.49% monthly gain is worth some historical context. While it is an impressive number, it ranks only fifth on the all-time list of best monthly C Fund returns, behind April 2020, December 1991, November 2020, and October 2011. Stock markets can move dramatically in both directions, and April was a reminder of that in the positive direction.
Where Things Stand for the Year
April’s strong TSP performance puts participants in a much stronger position as we continue through the second quarter. The I Fund leads all core funds year-to-date at 11.12%, followed by the S Fund at 8.61% and the C Fund at 5.70%. The G and F Funds remain in modest positive territory for the year.
Looking Ahead
The risks that were present before April have not disappeared. Unresolved geopolitical tensions, the possibility of interest rates staying elevated, and the potential for earnings to disappoint are all factors that could introduce volatility in the months ahead. For federal employees approaching retirement, April’s rebound is a reminder of why staying the course during periods of volatility tends to pay off, and why having a withdrawal strategy that accounts for market swings matters before you separate from service.
A Federal Retirement Consultant (FRC®) can help you think through how your TSP fits into your broader retirement income picture. Schedule a complimentary benefits review today.
