ESS drawdown: 18.3% below the all-time high
Essex Property Trust Inc. (ESS) is 18.3% below its all-time high, set Apr 21, 2022 (as of market close, Jul 24, 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. "All-time" means since our price data begins (1994).
- Below all-time high
- −18.3%
- 81.7% of ATH
- All-time high
- $359.3
- Apr 21, 2022
- Time below the high
- 4.3 yrs
- since Apr 21, 2022
- Worst-ever drawdown
- −65.3%
- Mar 2, 2009
- Longest underwater
- 4.7 yrs
- between all-time highs
- Today's level first reached
- Jun 5, 2019
- 7.1 yrs ago
- Last time this deep
- Mar 5, 2021
- in a previous episode
% of all-time high since 1994#
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.
% of all-time high on the price basis — the all-time high considers the full history of ESS, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
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 |
|---|---|---|---|---|---|
| Feb 8, 2007 | Mar 2, 2009 | −65.3% | 2.1 yrs | Oct 27, 2011 | 4.7 yrs |
| Apr 21, 2022 | Mar 23, 2023 | −45.4% | 11 mo | not yet | 4.3 yrs+ |
| Oct 21, 2019 | Mar 23, 2020 | −45.2% | 5 mo | Sep 1, 2021 | 1.9 yrs |
| Oct 10, 1997 | Mar 30, 1999 | −29.4% | 18 mo | Apr 6, 2000 | 2.5 yrs |
| Dec 18, 2000 | Apr 16, 2001 | −25.2% | 4 mo | May 21, 2003 | 2.4 yrs |
| Jun 7, 1994 | Dec 28, 1994 | −23.2% | 7 mo | Dec 26, 1995 | 1.6 yrs |
| Dec 29, 2015 | Feb 11, 2016 | −21.3% | 44 days | Apr 28, 2017 | 16 mo |
| Sep 11, 2017 | Feb 7, 2018 | −19.1% | 5 mo | Jan 30, 2019 | 17 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 1994: how far ESS 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: ESS is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, 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 ESS from its all-time high?
- ESS is currently 18.3% below its all-time high, set Apr 21, 2022 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest ESS drawdown ever?
- The deepest decline on record in our data (since 1994) took the stock 65.3% below its prior high, bottoming Mar 2, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1994 (split-adjusted). "All-time" means since our price data begins — ESS may have traded earlier. For a 150-year index 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, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.