USB drawdown: 0.8% below the all-time high
U.S. Bancorp (USB) is 0.8% below its all-time high, set Jul 22, 2026 (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 (1973).
- Below all-time high
- −0.8%
- 99.2% of ATH
- All-time high
- $64.47
- Jul 22, 2026
- Time below the high
- 2 days
- since Jul 22, 2026
- Worst-ever drawdown
- −76.8%
- Mar 6, 2009
- Longest underwater
- 7.7 yrs
- between all-time highs
- Today's level first reached
- Jul 16, 2026
- 8 days ago
- Last time this deep
- Jul 20, 2026
- in a previous episode
% of all-time high since 1973#
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 USB, 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 |
|---|---|---|---|---|---|
| Sep 19, 2008 | Mar 6, 2009 | −76.8% | 6 mo | Oct 21, 2013 | 5.1 yrs |
| Apr 14, 1999 | Oct 12, 2000 | −54.8% | 18 mo | Dec 13, 2006 | 7.7 yrs |
| Jan 14, 2022 | May 16, 2023 | −54.7% | 16 mo | Jul 16, 2026 | 4.5 yrs |
| Dec 17, 2019 | Mar 23, 2020 | −52.3% | 3 mo | May 6, 2021 | 17 mo |
| Aug 23, 1989 | Nov 27, 1990 | −44.9% | 15 mo | Nov 6, 1991 | 2.2 yrs |
| Dec 26, 2006 | Jul 15, 2008 | −38.1% | 1.6 yrs | Sep 18, 2008 | 1.7 yrs |
| Nov 6, 1973 | Sep 16, 1974 | −33.9% | 10 mo | Aug 13, 1975 | 1.8 yrs |
| Oct 6, 1987 | Oct 29, 1987 | −32.3% | 23 days | Aug 10, 1989 | 1.8 yrs |
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 1973: how far USB 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: USB 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 USB from its all-time high?
- USB is currently 0.8% below its all-time high, set Jul 22, 2026 (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 USB drawdown ever?
- The deepest decline on record in our data (since 1973) took the stock 76.8% below its prior high, bottoming Mar 6, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1973 (split-adjusted). "All-time" means since our price data begins — USB 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.