Jun 2, 2003 – Oct 2, 2026, TSP-G for the G Fund, TSP-F for the F Fund
Growth of $10,000
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Key metrics
| Return | G Fund | F Fund |
|---|---|---|
| Final balance | $20,262 | $20,379 |
| Total return | +102.62% | +103.79% |
| CAGR | +3.07% | +3.10% |
| Calendar years | G Fund | F Fund |
|---|---|---|
| Best year | +4.93% | +8.68% |
| Worst year | +0.97% | −12.83% |
| Positive years | 22 of 22 | 19 of 22 |
| Risk | G Fund | F Fund |
|---|---|---|
| Max drawdown | 0.00% | −17.98% |
| Longest drawdown | None | 6.2 years |
| Volatility (annualized) | 0.29% | 4.30% |
| Risk-adjusted | G Fund | F Fund |
|---|---|---|
| Sharpe ratio | 10.45 | 0.74 |
| Sortino ratio | — | 1.06 |
| Calmar ratio | — | 0.17 |
Trailing returns
| Period | G Fund | F Fund | G Fund − F Fund |
|---|---|---|---|
| YTD | +3.44% | −2.70% | +6.14% |
| 1Y | +4.52% | −2.10% | +6.61% |
| 3Y | +4.50% | +4.33% | +0.17% |
| 5Y | +3.98% | −0.62% | +4.60% |
| 10Y | +2.98% | +1.23% | +1.74% |
| 15Y | +2.61% | +1.96% | +0.65% |
| 20Y | +2.84% | +3.11% | −0.27% |
Rolling returns
| Period | G Fund median | F Fund median | More often ahead |
|---|---|---|---|
| 1Y | +2.79% | +4.21% | F Fund 57% |
| 3Y | +2.44% | +3.77% | F Fund 62% |
| 5Y | +2.30% | +3.54% | F Fund 71% |
| 10Y | +2.42% | +3.94% | F Fund 67% |
Worst drawdowns · G Fund
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| None | ||||
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −18.0% | Aug 2020 | Oct 2022 | Not yet | 6.2 years so far |
| −6.4% | Mar 2020 | Mar 2020 | Jun 2020 | 4 months |
| −5.1% | Sep 2008 | Oct 2008 | Dec 2008 | 3 months |
| −4.8% | May 2013 | Sep 2013 | Apr 2014 | 1 year |
| −4.8% | Jun 2003 | Aug 2003 | Jan 2004 | 7 months |
Annual returns
| Year | G Fund | F Fund | G Fund − F Fund |
|---|---|---|---|
| 2017 | +2.33% | +3.82% | −1.49% |
| 2018 | +2.91% | +0.15% | +2.75% |
| 2019 | +2.24% | +8.68% | −6.44% |
| 2020 | +0.97% | +7.50% | −6.53% |
| 2021 | +1.38% | −1.46% | +2.84% |
| 2022 | +2.98% | −12.83% | +15.81% |
| 2023 | +4.22% | +5.58% | −1.35% |
| 2024 | +4.40% | +1.33% | +3.07% |
| 2025 | +4.44% | +7.21% | −2.76% |
| 2026to Oct 2 | +3.44% | −2.70% | +6.14% |
About G Fund vs F Fund
They're the Thrift Savings Plan's two bond funds. The G Fund holds Treasury securities issued only to the TSP: its price never falls, and its rate follows Treasuries of four years or more. The F Fund tracks the broad US bond market, so it can pay more, and it loses value when interest rates rise, as in 2022.
The G Fund returned 3.07% a year from Jun 2003 to Oct 2026, against 3.10% for the F Fund. The F Fund beat the G Fund in 14 of 22 full years and in 67% of rolling 10-year periods.
Uses daily closing prices with dividends reinvested. Fund fees are included, but not taxes or trading costs. The comparison starts on Jun 2, 2003, when both funds' prices begin.