XLV’s worst drop since 1999 was 39%
Health Care Select Sector SPDR (XLV) fell 39% from Dec 2007 to Mar 2009. It took 3.4 years from that peak to close at a new high, in Apr 2011. Over the same years the S&P 500 fell as much as 55%.
That drop is milder than most. It ranks 127th of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 1999 to now
How XLV held up in each crash
| Crash | Years | XLV | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | −33.2% | −47.5% |
| Financial crisis | 2007–09 | −39.2% | −55.2% |
| COVID crash | 2020 | −28.4% | −33.7% |
| 2022 rate shock | 2022 | −16.0% | −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 XLV’s maximum drawdown?
XLV’s deepest fall since 1999 was 39.2%, from its high on December 10, 2007 to its low on March 9, 2009. The figure uses daily prices with dividends reinvested.
How long did XLV take to recover?
3.4 years. XLV first closed above its Dec 2007 high again on April 26, 2011.
Was XLV riskier than the S&P 500?
Over the same years, XLV’s worst drop was 39.2% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −34.1% 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.