XAR’s worst drop since 2011 was 46%
SPDR S&P Aerospace & Defense ETF (XAR) fell 46% from Feb 2020 to Mar 2020. It took 0.9 years from that peak to close at a new high, in Jan 2021. Over the same years the S&P 500 fell as much as 34%.
That drop is milder than most. It ranks 112th of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2011 to now
How XAR held up in each crash
| Crash | Years | XAR | 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 | −46.4% | −33.7% |
| 2022 rate shock | 2022 | −27.5% | −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 XAR’s maximum drawdown?
XAR’s deepest fall since 2011 was 46.4%, from its high on February 12, 2020 to its low on March 23, 2020. The figure uses daily prices with dividends reinvested.
How long did XAR take to recover?
0.9 years. XAR first closed above its Feb 2020 high again on January 14, 2021.
Was XAR riskier than the S&P 500?
Over the same years, XAR’s worst drop was 46.4% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −29.2% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, September 30, 2011 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.