How TSP share prices work

Each TSP fund has one share price per business day, set after the stock and bond markets close. The TSP takes the total value of the fund's holdings, net of accrued administrative expenses, and divides it by the number of shares outstanding. There's no price that moves during the day. Until that night's price is posted, the latest price you can see is the previous business day's close. The latest closing prices for every fund are on our TSP share prices page.

When the price is set

According to tsp.gov, the share price is calculated at the end of each business day, after the stock and bond markets have closed. Your account's value for that day is the number of shares you hold in each fund times that day's share price.

Contributions add shares. Each contribution is divided by the fund's share price, and the number of shares added is rounded to four decimal places. The same goes for loan payments and money rolled in from other plans.
Loans and withdrawals redeem shares the same way: the amount needed from each fund, divided by that fund's share price, rounded to four decimals.

Example: the C Fund closed at $124.6710 on October 27, 2026. A $100 contribution at that price adds 100 ÷ 124.6710 = 0.8021 shares.

What moves the price each day

The daily change in a share price reflects all of the fund's investment income: interest on short-term investments, dividends, capital gains or losses, and securities lending income, net of the TSP's administrative expenses. BlackRock and State Street manage the index funds that the F, C, S and I Funds invest in, and they credit interest and dividend income each business day.

Because the price is figured after those expenses, the returns you see are already net of them.

Why the I Fund can move differently from its index

The I Fund tracks the MSCI ACWI IMI ex USA ex China ex Hong Kong Index. Markets abroad close hours before New York: Far East markets close at 3:00 a.m. Eastern. When U.S. market or currency movements happen between those closes and 4:00 p.m. Eastern, the I Fund's managers can reprice the fund to reflect them. This is called fair value pricing. On those days, the I Fund's reported change can be noticeably different from the index's own change. tsp.gov says this keeps traders from profiting off stale prices at the expense of long-term shareholders.

What each fund follows during the day

You can't watch a TSP fund's price live, but you can watch what it tracks:

Fund	What it tracks
C Fund	The S&P 500 Index: about 500 of the largest U.S. companies
S Fund	The Dow Jones U.S. Completion Total Stock Market Index: U.S. small and mid-size companies not in the S&P 500
I Fund	The MSCI ACWI IMI ex USA ex China ex Hong Kong Index: international stocks in developed and emerging markets
F Fund	The Bloomberg U.S. Aggregate Bond Index: U.S. government, corporate and mortgage-backed bonds
G Fund	No market index: special U.S. Treasury securities issued only to the TSP

The L Funds are mixes of these five, so they move with whatever they hold.

Common questions

When are TSP share prices updated?

Once each business day, after the stock and bond markets close. tsp.gov posts them in its share price history, and our prices page shows the latest close with 1-day, week, month and year-to-date changes.

Why doesn't my TSP balance change during the day?

Because TSP funds have one price per business day. Your balance is your shares times the latest closing price, so it changes only when a new price is set or when shares are added or redeemed.

Can I look up a TSP fund price in real time?

No. There's no intraday TSP price. The closest thing is the index each fund tracks, such as the S&P 500 for the C Fund, but the fund's actual price is set only after the close.

Why did the I Fund move differently from international markets?

Fair value pricing. If U.S. market or currency movements happen between the close of overseas markets and 4:00 p.m. Eastern, the I Fund's price can be adjusted to reflect them, so its daily change can differ from the index's.

Do TSP share prices include fees?

Yes. The share price is calculated net of accrued administrative expenses, so the returns you see are already after those costs.

Sources

TSP: Share price calculation (calculation, rounding to four decimals, investment income, fair value pricing)
TSP: Share price history (daily prices, including the October 27, 2026 C Fund close)

Educational information, not investment advice. Past performance does not guarantee future results.