IWM observed max drawdown: 52.5%
iShares Russell 2000 ETF. From its 2007-05-31 peak, IWM fell 52.5% to the 2009-02-28 trough and needed 3.8 years to make a new high (2011-02-28). Computed from 316 months of observed fund history. Fund inception boundary (first available fund observation): 2000-05-26; the monthly analysis runs from 2000-05-31 through 2026-08-31.
Before 2000-05-26, the extended history is simulated. Observed fund drawdowns come first; simulation assumptions and results are separated below.
What is IWM's observed maximum drawdown?
IWM's observed maximum drawdown was 52.5%, from a peak in 2007-05-31 to a trough in 2009-02-28, based on monthly closes from fund prices first observed on 2000-05-26. The sample contains 316 monthly observations through 2026-08-31. Monthly closes can miss deeper daily losses.
| Measure | Value |
|---|---|
| Maximum drawdown | -52.5% |
| Peak | 2007-05-31 |
| Trough | 2009-02-28 |
| Recovered | 2011-02-28 |
| Monthly observations | 316 |
Last verified
What is IWM's observed maximum drawdown?
IWM's observed maximum drawdown was 52.5%, from a peak in 2007-05-31 to a trough in 2009-02-28, based on monthly closes from fund prices first observed on 2000-05-26.
How long did IWM take to recover from its worst drawdown?
IWM took 3.8 years from the 2007-05-31 peak to make a new high in 2011-02-28, based only on observed fund prices.
What was IWM's worst 12-month return?
IWM's worst observed rolling 12-month return was -42.3%, in the 12 months ending 2009-02-28.
IWM observed fund drawdown statistics
2007-05-31 peak to 2009-02-28 trough.
New high reached 2011-02-28.
Share of all months spent below a prior high.
Rolling year ending 2009-02-28.
The biggest IWM drawdowns in observed fund history
| Depth | Peak | Trough | Recovered | Peak to trough | Total underwater |
|---|---|---|---|---|---|
| -52.5% | 2007-05-31 | 2009-02-28 | 2011-02-28 | 21 mo | 3.8 years |
| -32.3% | 2018-08-31 | 2020-03-31 | 2020-11-30 | 19 mo | 2.3 years |
| -31.6% | 2000-08-31 | 2002-09-30 | 2003-10-31 | 25 mo | 3.2 years |
| -26.9% | 2021-06-30 | 2022-09-30 | 2024-07-31 | 15 mo | 3.1 years |
| -25.1% | 2011-04-30 | 2011-09-30 | 2012-12-31 | 5 mo | 20 months |
Methodology: observed IWM fund prices only, first available from 2000-05-26. Monthly closing-price statistics cover 2000-05-31 through 2026-08-31; no proxy or pre-inception simulation is included in this table. Educational information, not investment advice.
Before 2000-05-26: simulated from the underlying index with assumptions
This separate series combines observed prices with a modeled pre-inception extension from 1970-01-31 through 2026-09-30. The 2026-09-30 endpoint is the legacy current partial-month bucket/month-end label, not evidence that IWM was observed through that future date. It is not observed IWM performance. The API's observed boundary is 2000-05-26; observed monthly statistics run from 2000-05-31 through 2026-08-31.
- Rebalancing convention: monthly rebalance at month-end close; drawdown statistics use monthly closing prices.
- Proxy source for IWM: ^RUT (proxy_index), from 1987-09-10 to 2000-05-25.
- Proxy source for IWM: small_cap (static_monthly), from 1926-06-30 to 1987-09-09.
- Proxy source for SPY: VFINX (proxy_etf), from 1976-08-31 to 1993-01-28.
- Proxy source for SPY: spy_tr (static_monthly), from 1900-01-31 to 1976-08-30.
Modeled extended statistics
2007-05-31 peak to 2009-02-28 trough.
New high reached 2011-02-28.
Share of all months spent below a prior high.
Rolling year ending 1974-09-30.
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 |
|---|---|---|---|---|---|
| -52.5% | 2007-05-31 | 2009-02-28 | 2011-02-28 | 21 mo | 3.8 years |
| -52.5% | 1972-05-31 | 1974-09-30 | 1976-12-31 | 28 mo | 4.6 years |
| -36.3% | 2000-02-29 | 2002-09-30 | 2003-12-31 | 31 mo | 3.8 years |
| -34.5% | 1987-09-30 | 1987-11-30 | 1989-05-31 | 2 mo | 20 months |
| -32.4% | 1989-09-30 | 1990-10-31 | 1991-05-31 | 13 mo | 20 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 IWM 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.