OIH’s worst drop since 2001 was 94%
VanEck Oil Services ETF (OIH) fell 94% from Jun 2008 to Mar 2020. It has not closed above that Jun 2008 peak since, 18.3 years later. Over the same years the S&P 500 fell as much as 55%.
That drop ranks 5th deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 2001 to now
How OIH held up in each crash
| Crash | Years | OIH | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | −70.5% | −55.2% |
| COVID crash | 2020 | −75.4% | −33.7% |
| 2022 rate shock | 2022 | −36.4% | −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 OIH’s maximum drawdown?
OIH’s deepest fall since 2001 was 94.4%, from its high on June 23, 2008 to its low on March 18, 2020. The figure uses daily prices with dividends reinvested.
How long did OIH take to recover?
It has not recovered yet. As of October 13, 2026 it sits 64.8% below that Jun 2008 high.
Was OIH riskier than the S&P 500?
Over the same years, OIH’s worst drop was 94.4% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −80.1% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, February 27, 2001 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.