ETF max drawdown history
How far each of 44 popular ETFs has fallen from a high, how long it took to recover, and its worst 12-month return. Every page shows the fund's observed history first and keeps any simulated history from before the fund launched separate.
To measure a whole portfolio instead of one fund, use the Drawdown Analyzer.
US equity
- SPY SPDR S&P 500 ETFThe S&P 500 benchmark. Extended history covers 1987, 2000-2002, 2008-2009, 2020 and 2022.
- VOO Vanguard S&P 500 ETFVanguard's S&P 500 fund. Same index risk profile as SPY with extended index history.
- VTI Vanguard Morningstar Total Stock Market ETFThe whole US market in one fund, including small and mid caps.
- QQQ Invesco QQQ (Nasdaq 100)Nasdaq 100. The dot-com crash took the index down more than 80 percent; the extended series shows it.
- QQQM Invesco Nasdaq 100 ETFThe cheaper QQQ share class. Identical index, identical drawdown profile.
- IWM iShares Russell 2000 ETFUS small caps, historically deeper drawdowns and longer recoveries than the S&P 500.
- DIA SPDR Dow Jones Industrial Average ETFThe Dow 30 in ETF form.
- VUG Vanguard Morningstar Growth ETFUS large-cap growth, the style that led 2010-2021 and fell hardest in 2022.
- VTV Vanguard Morningstar Value ETFUS large-cap value, the defensive style sleeve.
- AVUV Avantis US Small Cap Value ETFSmall-cap value factor fund. Extended history uses small-value composites going back decades.
International equity
- EFA iShares MSCI EAFE ETFDeveloped markets ex-US.
- VEA Vanguard FTSE Developed Markets ETFDeveloped ex-US, Vanguard wrapper.
- VWO Vanguard Emerging Markets ETFEmerging markets, historically the deepest equity drawdowns in the catalog.
- EEM iShares MSCI Emerging Markets ETFThe older EM benchmark fund.
- VXUS Vanguard Total International Stock ETFAll non-US equity in one fund.
Sector
- XLK Technology Select Sector SPDRS&P 500 technology sector.
- XLE Energy Select Sector SPDREnergy sector, a decade underwater after 2014 and the 2020 collapse.
- XLF Financial Select Sector SPDRFinancials, ground zero of the 2008 drawdown.
- SMH VanEck Semiconductor ETFSemiconductors, boom-bust amplitude well beyond the broad market.
- SOXX iShares Semiconductor ETFThe other large semiconductor fund.
- VNQ Vanguard Real Estate ETFUS REITs, which fell almost 70 percent in 2008-2009.
Bonds
- TLT iShares 20+ Year Treasury Bond ETFLong Treasuries. The 2020-2023 drawdown was the deepest in the fund's history.
- ZROZ PIMCO 25+ Year Zero Coupon Treasury ETFZero-coupon long Treasuries, maximum duration and maximum bond drawdowns.
- EDV Vanguard Extended Duration Treasury ETFExtended-duration Treasury STRIPS.
- IEF iShares 7-10 Year Treasury Bond ETFIntermediate Treasuries, the classic TAA defensive sleeve.
- SHY iShares 1-3 Year Treasury Bond ETFShort Treasuries, the near-cash sleeve.
- AGG iShares Core US Aggregate Bond ETFThe US investment-grade bond market.
- BND Vanguard Total Bond Market ETFVanguard's aggregate bond fund.
- LQD iShares Investment Grade Corporate Bond ETFInvestment-grade corporates, equity-correlated in liquidity crises.
- HYG iShares High Yield Corporate Bond ETFHigh yield, bond label with equity-like drawdowns.
Commodities
- GLD SPDR Gold SharesGold. Extended history covers the 1980-1999 bear market that took gold down about 70 percent in real terms.
- IAU iShares Gold TrustThe cheaper gold trust, same metal, same drawdowns.
- SLV iShares Silver TrustSilver, roughly twice the volatility of gold.
- DBC Invesco DB Commodity Index FundBroad commodities basket.
- PDBC Invesco Optimum Yield Diversified CommodityThe no-K-1 broad commodity fund.
Dividend / income
Leveraged
- TQQQ ProShares UltraPro QQQ (3x)3x daily Nasdaq 100. The simulated dot-com path loses essentially everything; 2022 alone was about minus 80 percent.
- UPRO ProShares UltraPro S&P 500 (3x)3x daily S&P 500, the levered half of HFEA-style portfolios.
- SSO ProShares Ultra S&P 500 (2x)2x daily S&P 500, the moderate leverage path.
- QLD ProShares Ultra QQQ (2x)2x daily Nasdaq 100.
- SOXL Direxion Semiconductor Bull 3x3x daily semiconductors, drawdowns past 90 percent are part of its normal behavior.
- TMF Direxion 20+ Year Treasury Bull 3x3x daily long Treasuries, down more than 90 percent in the 2020-2023 rate cycle.
Drawdowns use monthly closing values; intra-month and intraday lows can be deeper. How the histories are built is explained in the drawdown history methodology.