EWC’s worst drop since 1999 was 61%
iShares MSCI Canada ETF (EWC) fell 61% from Nov 2007 to Mar 2009. It took 3.4 years from that peak to close at a new high, in Apr 2011. Over the same years the S&P 500 fell as much as 55%.
That drop ranks 62nd deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 1999 to now
How EWC held up in each crash
| Crash | Years | EWC | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | −51.7% | −47.5% |
| Financial crisis | 2007–09 | −60.8% | −55.2% |
| COVID crash | 2020 | −42.7% | −33.7% |
| 2022 rate shock | 2022 | −24.8% | −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 EWC’s maximum drawdown?
EWC’s deepest fall since 1999 was 60.8%, from its high on November 6, 2007 to its low on March 9, 2009. The figure uses daily prices with dividends reinvested.
How long did EWC take to recover?
3.4 years. EWC first closed above its Nov 2007 high again on April 5, 2011.
Was EWC riskier than the S&P 500?
Over the same years, EWC’s worst drop was 60.8% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −55.3% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, January 5, 1999 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.