FXI’s worst drop since 2004 was 73%
iShares China Large-Cap ETF (FXI) fell 73% from Oct 2007 to Oct 2008. It took 13.3 years from that peak to close at a new high, in Feb 2021. Over the same years the S&P 500 fell as much as 55%.
That drop ranks 33rd deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 2004 to now
How FXI held up in each crash
| Crash | Years | FXI | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | −72.7% | −55.2% |
| COVID crash | 2020 | −25.1% | −33.7% |
| 2022 rate shock | 2022 | −46.1% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
See how FXI behaves inside your whole mix, with the worst 12 months, loss odds and crash replays. Free, no signup, and the math runs in your browser.
Open FXI in PortfolioAutopsyCheck my whole portfolioQuestions
What was FXI’s maximum drawdown?
FXI’s deepest fall since 2004 was 72.7%, from its high on October 31, 2007 to its low on October 27, 2008. The figure uses daily prices with dividends reinvested.
How long did FXI take to recover?
13.3 years. FXI first closed above its Oct 2007 high again on February 11, 2021.
Was FXI riskier than the S&P 500?
Over the same years, FXI’s worst drop was 72.7% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −71.5% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, October 11, 2004 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.