DAX drawdown: 2.3% below the all-time high
DAX is 2.3% below its all-time high, set Aug 28, 2026 (as of market close, Sep 8, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown.
- Below all-time high
- −2.3%
- 97.7% of ATH
- All-time high
- $47.72
- Aug 28, 2026
- Time below the high
- 11 days
- since Aug 28, 2026
- Worst-ever drawdown
- −48.6%
- Mar 18, 2020
- Longest underwater
- 3.6 yrs
- between all-time highs
- Today's level first reached
- Jan 9, 2026
- 8 mo ago
- Last time this deep
- Aug 3, 2026
- in a previous episode
% of all-time high since 2014#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater. Basis and range are in the URL, so a particular view is a link.
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jan 24, 2018 | Mar 18, 2020 | −48.6% | 2.1 yrs | Apr 16, 2021 | 3.2 yrs |
| Jun 7, 2021 | Sep 27, 2022 | −42.9% | 16 mo | Jan 21, 2025 | 3.6 yrs |
| Apr 6, 2015 | Feb 11, 2016 | −25.7% | 10 mo | May 5, 2017 | 2.1 yrs |
| Mar 18, 2025 | Apr 8, 2025 | −16.0% | 21 days | Apr 29, 2025 | 42 days |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2014: how far DAX stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: a single asset's history is one surviving sample, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is DAX from its all-time high?
- DAX is currently 2.3% below its all-time high, set Aug 28, 2026 (as of market close, Sep 8, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest DAX drawdown ever?
- The deepest decline on record in our data (since 2014) took DAX 48.6% below its prior high, bottoming Mar 18, 2020. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since 2014 from DAX, DAX's tracking fund; no free deep history exists for DAX — for a 150-year drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year. Past performance does not predict future returns; not investment advice.