AGG observed max drawdown: 17.1%
iShares Core US Aggregate Bond ETF. From its 2020-07-31 peak, AGG fell 17.1% to the 2022-10-31 trough and has not yet made a new high. Computed from 277 months of observed fund history. Fund inception boundary (first available fund observation): 2003-09-26; the monthly analysis runs from 2003-09-30 through 2026-09-30.
Before 2003-09-26, the extended history is simulated. Observed fund drawdowns come first; simulation assumptions and results are separated below.
What is AGG's observed maximum drawdown?
AGG's observed maximum drawdown was 17.1%, from a peak in 2020-07-31 to a trough in 2022-10-31, based on monthly closes from fund prices first observed on 2003-09-26. The sample contains 277 monthly observations through 2026-09-30. Monthly closes can miss deeper daily losses.
| Measure | Value |
|---|---|
| Maximum drawdown | -17.1% |
| Peak | 2020-07-31 |
| Trough | 2022-10-31 |
| Recovered | Not yet recovered |
| Monthly observations | 277 |
Last verified
What is AGG's observed maximum drawdown?
AGG's observed maximum drawdown was 17.1%, from a peak in 2020-07-31 to a trough in 2022-10-31, based on monthly closes from fund prices first observed on 2003-09-26.
How long did AGG take to recover from its worst drawdown?
AGG has not yet recovered from its worst observed drawdown, which began at the 2020-07-31 peak.
What was AGG's worst 12-month return?
AGG's worst observed rolling 12-month return was -15.6%, in the 12 months ending 2022-10-31.
AGG observed fund drawdown statistics
2020-07-31 peak to 2022-10-31 trough.
Still below the prior peak.
Share of all months spent below a prior high.
Rolling year ending 2022-10-31.
The biggest AGG drawdowns in observed fund history
| Depth | Peak | Trough | Recovered | Peak to trough | Total underwater |
|---|---|---|---|---|---|
| -17.1% | 2020-07-31 | 2022-10-31 | not yet | 27 mo | 6.2 years |
| -4.3% | 2008-04-30 | 2008-10-31 | 2008-12-31 | 6 mo | 8 months |
| -4.1% | 2013-04-30 | 2013-08-31 | 2014-05-31 | 4 mo | 13 months |
| -3.5% | 2016-07-31 | 2016-11-30 | 2017-08-31 | 4 mo | 13 months |
| -3.2% | 2004-03-31 | 2004-05-31 | 2004-08-31 | 2 mo | 5 months |
Methodology: observed AGG fund prices only, first available from 2003-09-26. Monthly closing-price statistics cover 2003-09-30 through 2026-09-30; no proxy or pre-inception simulation is included in this table. Educational information, not investment advice.
Before 2003-09-26: simulated from the underlying index with assumptions
This separate series combines observed prices with a modeled pre-inception extension from 1970-01-31 through 2026-10-31. The 2026-10-31 endpoint is the legacy current partial-month bucket/month-end label, not evidence that AGG was observed through that future date. It is not observed AGG performance. The API's observed boundary is 2003-09-26; observed monthly statistics run from 2003-09-30 through 2026-09-30.
- Rebalancing convention: monthly rebalance at month-end close; drawdown statistics use monthly closing prices.
- Proxy source for AGG: VBMFX (proxy_etf), from 1986-12-11 to 2003-09-25.
- Proxy source for AGG: us_10yr (static_monthly), from 1920-01-31 to 1986-12-10.
- Proxy source for SPY: VFINX (proxy_etf), from 1987-01-06 to 1993-01-28.
- Proxy source for SPY: SP500_TR_DAILY (static), from 1976-08-31 to 1987-01-05.
- Proxy source for SPY: spy_tr (static_monthly), from 1900-01-31 to 1976-08-30.
Modeled extended statistics
2020-07-31 peak to 2022-10-31 trough.
Still below the prior peak.
Share of all months spent below a prior high.
Rolling year ending 2022-10-31.
For context, SPY (the S&P 500 baseline) had a maximum drawdown of 50.8% over the same kind of monthly-close analysis.
Modeled extended drawdowns
| Depth | Peak | Trough | Recovered | Peak to trough | Total underwater |
|---|---|---|---|---|---|
| -17.1% | 2020-07-31 | 2022-10-31 | not yet | 27 mo | 6.3 years |
| -15.8% | 1979-06-30 | 1980-02-29 | 1980-05-31 | 8 mo | 11 months |
| -14.6% | 1980-06-30 | 1981-09-30 | 1981-11-30 | 15 mo | 17 months |
| -8.0% | 1984-01-31 | 1984-05-31 | 1984-08-31 | 4 mo | 7 months |
| -7.3% | 1971-03-31 | 1971-07-31 | 1971-10-31 | 4 mo | 7 months |
Monthly closing prices, peak-to-trough on total return where available. The pre-inception segment is a reconstruction, not a live fund record, and actual tracking, financing, taxes, spreads, and volatility drag can differ.
Drawdowns are the reason tactical strategies exist
Buy-and-hold AGG means living through every number on this page. BestFolio tracks published TAA strategies whose whole job is cutting these drawdowns, with out-of-sample track records.