EFA’s worst drop since 2001 was 61%
iShares MSCI EAFE ETF (EFA) fell 61% from Oct 2007 to Mar 2009. It took 6.6 years from that peak to close at a new high, in Jun 2014. Over the same years the S&P 500 fell as much as 55%.
That drop ranks 61st deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 2001 to now
How EFA held up in each crash
| Crash | Years | EFA | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | −61.0% | −55.2% |
| COVID crash | 2020 | −34.0% | −33.7% |
| 2022 rate shock | 2022 | −28.7% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was EFA’s maximum drawdown?
EFA’s deepest fall since 2001 was 61.0%, from its high on October 31, 2007 to its low on March 9, 2009. The figure uses daily prices with dividends reinvested.
How long did EFA take to recover?
6.6 years. EFA first closed above its Oct 2007 high again on June 6, 2014.
Was EFA riskier than the S&P 500?
Over the same years, EFA’s worst drop was 61.0% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −53.8% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, August 28, 2001 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.