HYG’s worst drop since 2007 was 34%
iShares iBoxx High Yield Corporate Bond ETF (HYG) fell 34% from Sep 2007 to Nov 2008. It took 2.2 years from that peak to close at a new high, in Dec 2009. Over the same years the S&P 500 fell as much as 55%.
That drop is milder than most. It ranks 152nd of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2007 to now
How HYG held up in each crash
| Crash | Years | HYG | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | −34.3% | −55.2% |
| COVID crash | 2020 | −22.0% | −33.7% |
| 2022 rate shock | 2022 | −15.6% | −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 HYG’s maximum drawdown?
HYG’s deepest fall since 2007 was 34.3%, from its high on September 19, 2007 to its low on November 20, 2008. The figure uses daily prices with dividends reinvested.
How long did HYG take to recover?
2.2 years. HYG first closed above its Sep 2007 high again on December 2, 2009.
Was HYG riskier than the S&P 500?
Over the same years, HYG’s worst drop was 34.3% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −31.3% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, April 12, 2007 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.