LQD’s worst drop since 2002 was 25%
iShares iBoxx Investment Grade Corporate Bond ETF (LQD) fell 25% from Sep 2021 to Oct 2022. It has not closed above that Sep 2021 peak since, 5.0 years later. Over the same years the S&P 500 fell as much as 55%.
That drop is milder than most. It ranks 167th of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2002 to now
How LQD held up in each crash
| Crash | Years | LQD | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | −21.5% | −55.2% |
| COVID crash | 2020 | −21.8% | −33.7% |
| 2022 rate shock | 2022 | −22.7% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
See how LQD 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 LQD in PortfolioAutopsyCheck my whole portfolioQuestions
What was LQD’s maximum drawdown?
LQD’s deepest fall since 2002 was 25.0%, from its high on September 22, 2021 to its low on October 20, 2022. The figure uses daily prices with dividends reinvested.
How long did LQD take to recover?
It has not recovered yet. As of October 13, 2026 it sits 7.7% below that Sep 2021 high.
Was LQD riskier than the S&P 500?
Over the same years, LQD’s worst drop was 25.0% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −23.1% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, July 31, 2002 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.