SPMO observed max drawdown: 21.4%
From its 2021-10-31 peak, SPMO fell 21.4% to the 2022-09-30 trough and needed 2.2 years to make a new high (2023-12-31). Computed from 132 months of observed fund history. Fund inception boundary (first available fund observation): 2015-10-12; the monthly analysis runs from 2015-10-31 through 2026-09-30.
Before 2015-10-12, the extended history is simulated. Observed fund drawdowns come first; simulation assumptions and results are separated below.
What is SPMO's observed maximum drawdown?
SPMO's observed maximum drawdown was 21.4%, from a peak in 2021-10-31 to a trough in 2022-09-30, based on monthly closes from fund prices first observed on 2015-10-12. The sample contains 132 monthly observations through 2026-09-30. Monthly closes can miss deeper daily losses.
| Measure | Value |
|---|---|
| Maximum drawdown | -21.4% |
| Peak | 2021-10-31 |
| Trough | 2022-09-30 |
| Recovered | 2023-12-31 |
| Monthly observations | 132 |
Last verified
What is SPMO's observed maximum drawdown?
SPMO's observed maximum drawdown was 21.4%, from a peak in 2021-10-31 to a trough in 2022-09-30, based on monthly closes from fund prices first observed on 2015-10-12.
How long did SPMO take to recover from its worst drawdown?
SPMO took 2.2 years from the 2021-10-31 peak to make a new high in 2023-12-31, based only on observed fund prices.
What was SPMO's worst 12-month return?
SPMO's worst observed rolling 12-month return was -15.6%, in the 12 months ending 2022-09-30.
SPMO observed fund drawdown statistics
2021-10-31 peak to 2022-09-30 trough.
New high reached 2023-12-31.
Share of all months spent below a prior high.
Rolling year ending 2022-09-30.
The biggest SPMO drawdowns in observed fund history
| Depth | Peak | Trough | Recovered | Peak to trough | Total underwater |
|---|---|---|---|---|---|
| -21.4% | 2021-10-31 | 2022-09-30 | 2023-12-31 | 11 mo | 2.2 years |
| -16.4% | 2018-09-30 | 2018-12-31 | 2019-06-30 | 3 mo | 9 months |
| -16.1% | 2020-01-31 | 2020-03-31 | 2020-06-30 | 2 mo | 5 months |
| -11.0% | 2026-06-30 | 2026-07-31 | not yet | 1 mo | 3 months |
| -7.4% | 2025-10-31 | 2026-03-31 | 2026-04-30 | 5 mo | 6 months |
Methodology: observed SPMO fund prices only, first available from 2015-10-12. Monthly closing-price statistics cover 2015-10-31 through 2026-09-30; no proxy or pre-inception simulation is included in this table. Educational information, not investment advice.
Before 2015-10-12: 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 SPMO was observed through that future date. It is not observed SPMO performance. The API's observed boundary is 2015-10-12; observed monthly statistics run from 2015-10-31 through 2026-09-30.
- Rebalancing convention: monthly rebalance at month-end close; drawdown statistics use monthly closing prices.
- Proxy source for SPMO: MTUM (proxy_etf), from 2013-04-18 to 2017-12-29.
- Proxy source for SPMO: PDP (proxy_etf), from 2007-03-01 to 2013-04-17.
- Proxy source for SPMO: FF_MOM_TOP10_EXTENDED (static), from 1926-12-31 to 2007-02-28.
- 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 2009-02-28 trough.
New high reached 2012-04-30.
Share of all months spent below a prior high.
Rolling year ending 2009-02-28.
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 |
|---|---|---|---|---|---|
| -55.7% | 2007-10-31 | 2009-02-28 | 2012-04-30 | 16 mo | 4.5 years |
| -48.5% | 2000-02-29 | 2002-09-30 | 2006-01-31 | 31 mo | 5.9 years |
| -39.3% | 1972-12-31 | 1974-09-30 | 1975-06-30 | 21 mo | 2.5 years |
| -31.2% | 1987-09-30 | 1987-11-30 | 1989-05-31 | 2 mo | 20 months |
| -28.9% | 1980-11-30 | 1981-09-30 | 1982-11-30 | 10 mo | 2.0 years |
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 SPMO 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.