QQQ observed max drawdown: 81.1%
Invesco QQQ (Nasdaq 100). From its 2000-03-31 peak, QQQ fell 81.1% to the 2002-09-30 trough and needed 14.6 years to make a new high (2014-10-31). Computed from 331 months of observed fund history. Fund inception boundary (first available fund observation): 1999-03-10; the monthly analysis runs from 1999-03-31 through 2026-09-30.
Before 1999-03-10, the extended history is simulated. Observed fund drawdowns come first; simulation assumptions and results are separated below.
What is QQQ's observed maximum drawdown?
QQQ's observed maximum drawdown was 81.1%, from a peak in 2000-03-31 to a trough in 2002-09-30, based on monthly closes from fund prices first observed on 1999-03-10. The sample contains 331 monthly observations through 2026-09-30. Monthly closes can miss deeper daily losses.
| Measure | Value |
|---|---|
| Maximum drawdown | -81.1% |
| Peak | 2000-03-31 |
| Trough | 2002-09-30 |
| Recovered | 2014-10-31 |
| Monthly observations | 331 |
Last verified
What is QQQ's observed maximum drawdown?
QQQ's observed maximum drawdown was 81.1%, from a peak in 2000-03-31 to a trough in 2002-09-30, based on monthly closes from fund prices first observed on 1999-03-10.
How long did QQQ take to recover from its worst drawdown?
QQQ took 14.6 years from the 2000-03-31 peak to make a new high in 2014-10-31, based only on observed fund prices.
What was QQQ's worst 12-month return?
QQQ's worst observed rolling 12-month return was -67.3%, in the 12 months ending 2001-09-30.
QQQ observed fund drawdown statistics
2000-03-31 peak to 2002-09-30 trough.
New high reached 2014-10-31.
Share of all months spent below a prior high.
Rolling year ending 2001-09-30.
The biggest QQQ drawdowns in observed fund history
| Depth | Peak | Trough | Recovered | Peak to trough | Total underwater |
|---|---|---|---|---|---|
| -81.1% | 2000-03-31 | 2002-09-30 | 2014-10-31 | 30 mo | 14.6 years |
| -32.6% | 2021-12-31 | 2022-12-31 | 2023-12-31 | 12 mo | 2.0 years |
| -17.0% | 2018-08-31 | 2018-12-31 | 2019-04-30 | 4 mo | 8 months |
| -12.9% | 2020-01-31 | 2020-03-31 | 2020-04-30 | 2 mo | 3 months |
| -10.1% | 2025-01-31 | 2025-03-31 | 2025-06-30 | 2 mo | 5 months |
Methodology: observed QQQ fund prices only, first available from 1999-03-10. Monthly closing-price statistics cover 1999-03-31 through 2026-09-30; no proxy or pre-inception simulation is included in this table. Educational information, not investment advice.
Before 1999-03-10: 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 QQQ was observed through that future date. It is not observed QQQ performance. The API's observed boundary is 1999-03-10; observed monthly statistics run from 1999-03-31 through 2026-09-30.
- Rebalancing convention: monthly rebalance at month-end close; drawdown statistics use monthly closing prices.
- Proxy source for QQQ: ^NDX (proxy_index), from 1985-10-01 to 1999-03-09.
- Proxy source for QQQ: FF_BIG_GROWTH_DAILY (static), from 1926-06-30 to 1985-09-30.
- 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
2000-03-31 peak to 2002-09-30 trough.
New high reached 2014-10-31.
Share of all months spent below a prior high.
Rolling year ending 2001-09-30.
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 |
|---|---|---|---|---|---|
| -81.1% | 2000-03-31 | 2002-09-30 | 2014-10-31 | 30 mo | 14.6 years |
| -50.9% | 1972-12-31 | 1974-09-30 | 1980-01-31 | 21 mo | 7.1 years |
| -34.5% | 1987-08-31 | 1987-11-30 | 1989-05-31 | 3 mo | 21 months |
| -32.6% | 2021-12-31 | 2022-12-31 | 2023-12-31 | 12 mo | 2.0 years |
| -27.5% | 1990-06-30 | 1990-10-31 | 1991-02-28 | 4 mo | 8 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 QQQ 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.