VEA observed max drawdown: 57.1%
Vanguard FTSE Developed Markets ETF. From its 2007-10-31 peak, VEA fell 57.1% to the 2009-02-28 trough and needed 6.6 years to make a new high (2014-05-31). Computed from 231 months of observed fund history. Fund inception boundary (first available fund observation): 2007-07-26; the monthly analysis runs from 2007-07-31 through 2026-09-30.
Before 2007-07-26, the extended history is simulated. Observed fund drawdowns come first; simulation assumptions and results are separated below.
What is VEA's observed maximum drawdown?
VEA's observed maximum drawdown was 57.1%, from a peak in 2007-10-31 to a trough in 2009-02-28, based on monthly closes from fund prices first observed on 2007-07-26. The sample contains 231 monthly observations through 2026-09-30. Monthly closes can miss deeper daily losses.
| Measure | Value |
|---|---|
| Maximum drawdown | -57.1% |
| Peak | 2007-10-31 |
| Trough | 2009-02-28 |
| Recovered | 2014-05-31 |
| Monthly observations | 231 |
Last verified
What is VEA's observed maximum drawdown?
VEA's observed maximum drawdown was 57.1%, from a peak in 2007-10-31 to a trough in 2009-02-28, based on monthly closes from fund prices first observed on 2007-07-26.
How long did VEA take to recover from its worst drawdown?
VEA took 6.6 years from the 2007-10-31 peak to make a new high in 2014-05-31, based only on observed fund prices.
What was VEA's worst 12-month return?
VEA's worst observed rolling 12-month return was -49.9%, in the 12 months ending 2009-02-28.
VEA observed fund drawdown statistics
2007-10-31 peak to 2009-02-28 trough.
New high reached 2014-05-31.
Share of all months spent below a prior high.
Rolling year ending 2009-02-28.
The biggest VEA drawdowns in observed fund history
| Depth | Peak | Trough | Recovered | Peak to trough | Total underwater |
|---|---|---|---|---|---|
| -57.1% | 2007-10-31 | 2009-02-28 | 2014-05-31 | 16 mo | 6.6 years |
| -28.1% | 2021-08-31 | 2022-09-30 | 2024-02-29 | 13 mo | 2.5 years |
| -24.1% | 2018-01-31 | 2020-03-31 | 2020-11-30 | 26 mo | 2.8 years |
| -17.9% | 2014-06-30 | 2016-02-29 | 2017-04-30 | 20 mo | 2.8 years |
| -8.6% | 2026-02-28 | 2026-03-31 | 2026-05-31 | 1 mo | 3 months |
Methodology: observed VEA fund prices only, first available from 2007-07-26. Monthly closing-price statistics cover 2007-07-31 through 2026-09-30; no proxy or pre-inception simulation is included in this table. Educational information, not investment advice.
Before 2007-07-26: 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 VEA was observed through that future date. It is not observed VEA performance. The API's observed boundary is 2007-07-26; observed monthly statistics run from 2007-07-31 through 2026-09-30.
- Rebalancing convention: monthly rebalance at month-end close; drawdown statistics use monthly closing prices.
- Proxy source for VEA: EFA (proxy_etf), from 1969-12-31 to 2007-07-25.
- Proxy source for EFA: VGTSX (proxy_etf), from 1996-04-29 to 2001-08-16.
- Proxy source for EFA: eafe (static_monthly), from 1969-12-31 to 1996-04-26.
- 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 2014-05-31.
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 |
|---|---|---|---|---|---|
| -57.1% | 2007-10-31 | 2009-02-28 | 2014-05-31 | 16 mo | 6.6 years |
| -47.8% | 1999-12-31 | 2003-03-31 | 2005-09-30 | 39 mo | 5.8 years |
| -41.5% | 1973-03-31 | 1974-09-30 | 1977-12-31 | 18 mo | 4.8 years |
| -30.6% | 1989-12-31 | 1990-09-30 | 1993-08-31 | 9 mo | 3.7 years |
| -28.1% | 2021-08-31 | 2022-09-30 | 2024-02-29 | 13 mo | 2.5 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 VEA 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.