TSP L 2040 Fund: price, returns and what moves it
The TSP L 2040 Fund tracks a target-date mix of the G, F, C, S and I Funds. On Monday, November 9, 2026 its share price closed at $74.4321, +1.94% on the day and +9.80% so far this year (prices from tsp.gov).
Who it's for: tsp.gov suggests the L 2040 Fund for people born between 1975 and 1979, or who plan to begin withdrawing between 2038 and 2042.
Price and returns
| Share price | $74.4321 |
|---|---|
| 1 day | +1.94% |
| Week | +1.94% |
| Month | +0.11% |
| Year to date | +9.80% |
Share price, past 12 months
- Low
- $64.9900
- High
- $76.4964
- Latest
- $74.4321
Daily closing prices through Monday, November 9, 2026. Source: tsp.gov share price history.
What's in the L 2040 Fund
Each L Fund is a ready-made mix of the five individual funds, chosen for a target retirement date. As the date approaches, the mix gradually shifts toward the G and F Funds; L Income is the mix for people already withdrawing.
| Fund | Now (October 2026) | At target date (July 2040) |
|---|---|---|
| G Fund | 21.60% | 64.75% |
| F Fund | 6.65% | 5.25% |
| C Fund | 37.31% | 15.60% |
| S Fund | 9.33% | 3.90% |
| I Fund | 25.11% | 10.50% |
Source: tsp.gov L 2040 Fund page. Dated L Funds get a new target mix every quarter.
Risk: Varies by date: later-dated L Funds hold more stock and swing more than earlier-dated ones.
How L Funds work: the glide path and what happens at the target dateWhat moves the L 2040 Fund
- The daily moves of the five individual funds, weighted by the L Fund's current mix
- Funds with later dates hold more stock, so they move more; L Income moves the least
Recent L Fund moves, explained
- Monday, November 9, 2026Stocks Snap Back: Broad Rally Lifts C, S and I Funds+2.13% avg.
- Friday, November 6, 2026Stocks bounce back from AI sell-off, but bond yields jump on hot jobs data+0.12% avg.
- Thursday, November 5, 2026Tech-led selloff hits stocks hard; bonds and G Fund stay steady-3.19% avg.
- Wednesday, November 4, 2026Election clarity sparks a broad market rally across TSP funds+1.22% avg.
- Tuesday, November 3, 2026Chip stocks rebound on Election Day, but bonds and overseas markets slip+0.05% avg.
One-day moves calculated from tsp.gov share prices, as reported in each day's briefing (L Funds: the average of their one-day moves).
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L 2040 Fund returns by year
Calendar-year change in the share price, from the last closing price of the prior year, calculated from tsp.gov share prices. Includes fund expenses. 2026 through Monday, November 9, 2026: +9.80%.
| Year | Return |
|---|---|
| 2025 | +17.31% |
| 2024 | +12.85% |
| 2023 | +18.04% |
| 2022 | -12.90% |
| 2021 | +14.51% |
| 2020 | +13.16% |
| 2019 | +20.69% |
| 2018 | -4.89% |
| 2017 | +16.77% |
| 2016 | +7.90% |
| 2015 | +0.73% |
| 2014 | +6.22% |
| 2013 | +23.23% |
| 2012 | +14.27% |
| 2011 | -0.96% |
| 2010 | +13.89% |
| 2009 | +25.19% |
| 2008 | -31.53% |
| 2007 | +7.36% |
| 2006 | +16.53% |
Common questions
What is the TSP L 2040 Fund's allocation?
As of October 2026, tsp.gov shows the L 2040 Fund's target mix as 21.60% G Fund, 6.65% F Fund, 37.31% C Fund, 9.33% S Fund and 25.11% I Fund, so 71.75% is in the stock funds (C, S and I). The mix shifts toward the G and F Funds every quarter until July 2040, when it matches L Income's and the fund rolls into L Income.
Who should invest in the TSP L 2040 Fund?
tsp.gov suggests the L 2040 Fund for people born between 1975 and 1979, or who plan to begin withdrawing between 2038 and 2042. Its mix of the G, F, C, S and I Funds is rebalanced daily and adjusted quarterly, gradually becoming more conservative until it rolls into the L Income Fund in July 2040. It's a guideline, not a rule: tsp.gov notes you can also consider another L Fund.
How do TSP L Funds work?
Each L Fund holds a mix of the G, F, C, S and I Funds chosen for a target retirement year. The mix is rebalanced automatically and becomes more conservative as that year approaches.
What happens to an L Fund at its target date?
When an L Fund reaches its target year, it is rolled into the L Income Fund, which keeps a steady, conservative mix for people drawing income.
Other TSP funds
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Sources: official share prices from tsp.gov share price history; fund details from the L 2040 Fund page on tsp.gov. Educational information, not investment advice. Past performance does not guarantee future results.