XLU’s worst drop since 1999 was 52%
Utilities Select Sector SPDR (XLU) fell 52% from Dec 2000 to Oct 2002. It took 4.2 years from that peak to close at a new high, in Feb 2005. Over the same years the S&P 500 fell as much as 55%.
That drop ranks 100th deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 1999 to now
How XLU held up in each crash
| Crash | Years | XLU | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | −52.3% | −47.5% |
| Financial crisis | 2007–09 | −46.5% | −55.2% |
| COVID crash | 2020 | −36.1% | −33.7% |
| 2022 rate shock | 2022 | −20.7% | −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 XLU’s maximum drawdown?
XLU’s deepest fall since 1999 was 52.3%, from its high on December 13, 2000 to its low on October 9, 2002. The figure uses daily prices with dividends reinvested.
How long did XLU take to recover?
4.2 years. XLU first closed above its Dec 2000 high again on February 16, 2005.
Was XLU riskier than the S&P 500?
Over the same years, XLU’s worst drop was 52.3% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −47.4% 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.