Emerging Markets drawdown: at its all-time high
Emerging Markets is trading at its all-time high (as of market close, Sep 4, 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
- at the high
- 100.0% of ATH
- All-time high
- $61.45
- Sep 4, 2026
- Time below the high
- 0 days
- since Sep 4, 2026
- Worst-ever drawdown
- −68.3%
- Nov 20, 2008
- Longest underwater
- 18.3 yrs
- between all-time highs
- Today's level first reached
- today
- a fresh record
% of all-time high since 2005#
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 |
|---|---|---|---|---|---|
| Oct 31, 2007 | Nov 20, 2008 | −68.3% | 13 mo | Feb 24, 2026 | 18.3 yrs |
| May 9, 2006 | Jun 13, 2006 | −26.0% | 35 days | Dec 4, 2006 | 7 mo |
| Jul 23, 2007 | Aug 16, 2007 | −18.1% | 24 days | Sep 21, 2007 | 2 mo |
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 2005: how far Emerging Markets 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 Emerging Markets from its all-time high?
- Emerging Markets is currently at (or within half a percent of) its all-time high, set Sep 4, 2026.
- What was the biggest Emerging Markets drawdown ever?
- The deepest decline on record in our data (since 2005) took Emerging Markets 68.3% below its prior high, bottoming Nov 20, 2008. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since 2005 from VWO, Emerging Markets's tracking fund; no free deep history exists for Emerging Markets — 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.