JNK’s worst drop since 2007 was 38%
SPDR Bloomberg High Yield Bond ETF (JNK) fell 38% from Jan 2008 to Mar 2009. It took 1.8 years from that peak to close at a new high, in Oct 2009. Over the same years the S&P 500 fell as much as 54%.
That drop is milder than most. It ranks 132nd of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2007 to now
How JNK held up in each crash
| Crash | Years | JNK | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −22.9% | −33.7% |
| 2022 rate shock | 2022 | −16.4% | −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 JNK’s maximum drawdown?
JNK’s deepest fall since 2007 was 38.5%, from its high on January 2, 2008 to its low on March 9, 2009. The figure uses daily prices with dividends reinvested.
How long did JNK take to recover?
1.8 years. JNK first closed above its Jan 2008 high again on October 22, 2009.
Was JNK riskier than the S&P 500?
Over the same years, JNK’s worst drop was 38.5% against 53.9% for the S&P 500 (SPY), and its worst 12 months were −37.6% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, December 5, 2007 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.