vs G Fund
Backtest L Income vs G FundJul 29, 2005 – Oct 2, 2026, TSP-LINC for the L Income Fund, TSP-G for the G Fund, TSP-LINC sets the start date
Growth of $10,000
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Key metrics
| Return | L Income | G Fund |
|---|---|---|
| Final balance | $26,802 | $18,504 |
| Total return | +168.02% | +85.04% |
| CAGR | +4.77% | +2.95% |
| Calendar years | L Income | G Fund |
|---|---|---|
| Best year | +9.36% | +4.93% |
| Worst year | −5.09% | +0.97% |
| Positive years | 18 of 20 | 20 of 20 |
| Risk | L Income | G Fund |
|---|---|---|
| Max drawdown | −11.01% | 0.00% |
| Longest drawdown | 1.3 years | None |
| Volatility (annualized) | 3.98% | 0.24% |
| Risk-adjusted | L Income | G Fund |
|---|---|---|
| Sharpe ratio | 1.20 | 12.04 |
| Sortino ratio | 1.71 | — |
| Calmar ratio | 0.43 | — |
Trailing returns
| Period | L Income | G Fund | L Income − G Fund |
|---|---|---|---|
| YTD | +6.32% | +3.44% | +2.87% |
| 1Y | +7.93% | +4.52% | +3.41% |
| 3Y | +9.21% | +4.50% | +4.71% |
| 5Y | +6.12% | +3.98% | +2.14% |
| 10Y | +5.46% | +2.98% | +2.48% |
| 15Y | +5.15% | +2.61% | +2.54% |
| 20Y | +4.68% | +2.84% | +1.85% |
Rolling returns
| Period | L Income median | G Fund median | More often ahead |
|---|---|---|---|
| 1Y | +5.05% | +2.61% | L Income 78% |
| 3Y | +4.22% | +2.31% | L Income 87% |
| 5Y | +4.22% | +2.27% | L Income 96% |
| 10Y | +4.18% | +2.33% | L Income 100% |
Worst drawdowns · L Income
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| −11.0% | May 2008 | Mar 2009 | Sep 2009 | 1.3 years |
| −8.5% | Feb 2020 | Mar 2020 | Jul 2020 | 5 months |
| −6.1% | Jan 2022 | Sep 2022 | Apr 2023 | 1.2 years |
| −4.2% | Feb 2025 | Apr 2025 | May 2025 | 3 months |
| −3.8% | Jul 2011 | Oct 2011 | Jan 2012 | 6 months |
| Decline | Peak | Bottom | Recovered | Length |
|---|---|---|---|---|
| None | ||||
Annual returns
| Year | L Income | G Fund | L Income − G Fund |
|---|---|---|---|
| 2017 | +6.19% | +2.33% | +3.87% |
| 2018 | +0.71% | +2.91% | −2.19% |
| 2019 | +7.60% | +2.24% | +5.36% |
| 2020 | +5.15% | +0.97% | +4.19% |
| 2021 | +5.42% | +1.38% | +4.04% |
| 2022 | −2.70% | +2.98% | −5.68% |
| 2023 | +8.99% | +4.22% | +4.77% |
| 2024 | +7.37% | +4.40% | +2.96% |
| 2025 | +9.36% | +4.44% | +4.91% |
| 2026to Oct 2 | +6.32% | +3.44% | +2.87% |
About L Income vs G Fund
L Income is the Thrift Savings Plan's fund for those already withdrawing. It holds mostly the G and F Funds, with the rest in the stock funds. The G Fund alone never loses value; L Income can, in a bad year for stocks.
The L Income Fund returned 4.8% a year from Jul 2005 to Oct 2026, against 2.9% for the G Fund. The L Income Fund beat the G Fund in 15 of 20 full years and in every rolling 10-year period.
Uses daily closing prices with dividends reinvested. Fund fees are included, but not taxes or trading costs. The comparison starts on Jul 29, 2005, when TSP-LINC's prices begin.