XOP’s worst drop since 2006 was 90%
SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 90% from Jun 2014 to Mar 2020. It has not closed above that Jun 2014 peak since, 12.3 years later. Over the same years the S&P 500 fell as much as 55%.
That drop ranks 7th deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 2006 to now
How XOP held up in each crash
| Crash | Years | XOP | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | −67.7% | −55.2% |
| COVID crash | 2020 | −68.8% | −33.7% |
| 2022 rate shock | 2022 | −33.2% | −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 XOP’s maximum drawdown?
XOP’s deepest fall since 2006 was 90.3%, from its high on June 23, 2014 to its low on March 23, 2020. The figure uses daily prices with dividends reinvested.
How long did XOP take to recover?
It has not recovered yet. As of October 13, 2026 it sits 24.9% below that Jun 2014 high.
Was XOP riskier than the S&P 500?
Over the same years, XOP’s worst drop was 90.3% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −74.3% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, June 23, 2006 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.