XLF’s worst drop since 1999 was 83%
Financial Select Sector SPDR (XLF) fell 83% from Jun 2007 to Mar 2009. It took 10.1 years from that peak to close at a new high, in Jul 2017. Over the same years the S&P 500 fell as much as 55%.
That drop ranks 16th deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 1999 to now
How XLF held up in each crash
| Crash | Years | XLF | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | −36.6% | −47.5% |
| Financial crisis | 2007–09 | −82.2% | −55.2% |
| COVID crash | 2020 | −42.9% | −33.7% |
| 2022 rate shock | 2022 | −25.8% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
See how XLF 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.
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What was XLF’s maximum drawdown?
XLF’s deepest fall since 1999 was 82.7%, from its high on June 1, 2007 to its low on March 6, 2009. The figure uses daily prices with dividends reinvested.
How long did XLF take to recover?
10.1 years. XLF first closed above its Jun 2007 high again on July 25, 2017.
Was XLF riskier than the S&P 500?
Over the same years, XLF’s worst drop was 82.7% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −74.1% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, January 5, 1999 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.