HYG observed max drawdown: 30.3%
iShares High Yield Corporate Bond ETF. From its 2007-10-31 peak, HYG fell 30.3% to the 2008-11-30 trough and needed 2.1 years to make a new high (2009-11-30). Computed from 234 months of observed fund history. Fund inception boundary (first available fund observation): 2007-04-11; the monthly analysis runs from 2007-04-30 through 2026-09-30.
Before 2007-04-11, the extended history is simulated. Observed fund drawdowns come first; simulation assumptions and results are separated below.
What is HYG's observed maximum drawdown?
HYG's observed maximum drawdown was 30.3%, from a peak in 2007-10-31 to a trough in 2008-11-30, based on monthly closes from fund prices first observed on 2007-04-11. The sample contains 234 monthly observations through 2026-09-30. Monthly closes can miss deeper daily losses.
| Measure | Value |
|---|---|
| Maximum drawdown | -30.3% |
| Peak | 2007-10-31 |
| Trough | 2008-11-30 |
| Recovered | 2009-11-30 |
| Monthly observations | 234 |
Last verified
What is HYG's observed maximum drawdown?
HYG's observed maximum drawdown was 30.3%, from a peak in 2007-10-31 to a trough in 2008-11-30, based on monthly closes from fund prices first observed on 2007-04-11.
How long did HYG take to recover from its worst drawdown?
HYG took 2.1 years from the 2007-10-31 peak to make a new high in 2009-11-30, based only on observed fund prices.
What was HYG's worst 12-month return?
HYG's worst observed rolling 12-month return was -29.5%, in the 12 months ending 2008-11-30.
HYG observed fund drawdown statistics
2007-10-31 peak to 2008-11-30 trough.
New high reached 2009-11-30.
Share of all months spent below a prior high.
Rolling year ending 2008-11-30.
The biggest HYG drawdowns in observed fund history
| Depth | Peak | Trough | Recovered | Peak to trough | Total underwater |
|---|---|---|---|---|---|
| -30.3% | 2007-10-31 | 2008-11-30 | 2009-11-30 | 13 mo | 2.1 years |
| -15.3% | 2021-12-31 | 2022-09-30 | 2024-03-31 | 9 mo | 2.3 years |
| -11.6% | 2019-12-31 | 2020-03-31 | 2020-11-30 | 3 mo | 11 months |
| -9.5% | 2015-05-31 | 2016-01-31 | 2016-07-31 | 8 mo | 14 months |
| -8.1% | 2011-05-31 | 2011-09-30 | 2011-12-31 | 4 mo | 7 months |
Methodology: observed HYG fund prices only, first available from 2007-04-11. Monthly closing-price statistics cover 2007-04-30 through 2026-09-30; no proxy or pre-inception simulation is included in this table. Educational information, not investment advice.
Before 2007-04-11: simulated from the underlying index with assumptions
This separate series combines observed prices with a modeled pre-inception extension from 1980-01-31 through 2026-10-31. The 2026-10-31 endpoint is the legacy current partial-month bucket/month-end label, not evidence that HYG was observed through that future date. It is not observed HYG performance. The API's observed boundary is 2007-04-11; observed monthly statistics run from 2007-04-30 through 2026-09-30.
- Rebalancing convention: monthly rebalance at month-end close; drawdown statistics use monthly closing prices.
- Proxy source for HYG: VWEHX (proxy_etf), from 1980-01-02 to 2007-04-10.
- 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
2007-10-31 peak to 2008-11-30 trough.
New high reached 2009-11-30.
Share of all months spent below a prior high.
Rolling year ending 2008-11-30.
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 |
|---|---|---|---|---|---|
| -30.3% | 2007-10-31 | 2008-11-30 | 2009-11-30 | 13 mo | 2.1 years |
| -15.3% | 2021-12-31 | 2022-09-30 | 2024-03-31 | 9 mo | 2.3 years |
| -13.3% | 1989-08-31 | 1990-10-31 | 1991-04-30 | 14 mo | 20 months |
| -11.6% | 2019-12-31 | 2020-03-31 | 2020-11-30 | 3 mo | 11 months |
| -9.5% | 2015-05-31 | 2016-01-31 | 2016-07-31 | 8 mo | 14 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 HYG 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.