I Fund

The  (International Stock Index Investment Fund) is one of six investment offerings inside the Thrift Savings Plan, a contributory retirement program for United States federal employees, members of the uniformed services, and their beneficiaries.

Fundamentals
The I fund is an international developed market stock collective investment trust. The fund tracks the Europe, Australasia and Far East (EAFE) index, which covers the stock markets of twenty-two developed countries.

On December 6, 2017, the TSP's governing board "at its most recent meeting accepted a recommendation by a consultant to switch to linking the I fund to the MSCI All Country World Index, which covers non-U.S. developed markets, smaller companies and emerging markets." The change could take a year or more to implement.

Role in a portfolio
Until the I fund's index switches to the more diversified MSCI All Country World Index in 2018 or 2019, the I Fund's does not have stocks from emerging markets, small caps, and Canada. TSP investors seeking to round out the gaps in the I Fund can consider the following:
 * To increase exposure to emerging markets, hold the I Fund and an emerging markets fund in their IRA, such as Vanguard Emerging Markets Fund.
 * To increase exposure to international small caps, hold an international small cap index fund in an IRA.
 * To increase exposure to Canadian stocks, which are 8.6% of Vanguard's Total International Stock Market Index Fund, hold a Canadian stock mutual fund or ETF such that tracks the MSCI Canada Index Fund such as EWC or Vanguard MSCI Canada Index ETF Fund (VCE)

Approximating Total International Stock Market contains more information for investors who would like to hold this combination of funds.

Or, they can place all of their international investments with Vanguard (e.g., in the Vanguard Total International Stock Market Fund).