SPDR S&P Biotech ETF drawdown: 10.2% below the all-time high
SPDR S&P Biotech ETF is 10.2% below its all-time high, set Feb 8, 2021 (as of market close, Sep 11, 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
- −10.2%
- 89.8% of ATH
- All-time high
- $173.99
- Feb 8, 2021
- Time below the high
- 5.6 yrs
- since Feb 8, 2021
- Worst-ever drawdown
- −63.9%
- May 11, 2022
- Longest underwater
- 5.6 yrs
- between all-time highs
- Today's level first reached
- Jan 25, 2021
- 5.6 yrs ago
- Last time this deep
- Sep 11, 2020
- in a previous episode
% of all-time high since 2006#
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 |
|---|---|---|---|---|---|
| Feb 8, 2021 | May 11, 2022 | −63.9% | 15 mo | not yet | 5.6 yrs+ |
| Jul 17, 2015 | Feb 11, 2016 | −49.4% | 7 mo | Jan 22, 2018 | 2.5 yrs |
| Aug 14, 2008 | Mar 5, 2009 | −37.6% | 7 mo | Apr 14, 2011 | 2.7 yrs |
| Jun 20, 2018 | Dec 24, 2018 | −35.3% | 6 mo | May 11, 2020 | 1.9 yrs |
| Feb 27, 2014 | May 8, 2014 | −29.2% | 2 mo | Oct 28, 2014 | 8 mo |
| Jul 22, 2011 | Aug 8, 2011 | −26.7% | 17 days | Jan 27, 2012 | 6 mo |
| Dec 6, 2007 | Mar 10, 2008 | −22.7% | 3 mo | Jul 15, 2008 | 7 mo |
| Feb 27, 2006 | Aug 14, 2006 | −21.9% | 6 mo | Aug 8, 2007 | 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 2006: how far SPDR S&P Biotech ETF 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 SPDR S&P Biotech ETF from its all-time high?
- SPDR S&P Biotech ETF is currently 10.2% below its all-time high, set Feb 8, 2021 (as of market close, Sep 11, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest SPDR S&P Biotech ETF drawdown ever?
- The deepest decline on record in our data (since 2006) took SPDR S&P Biotech ETF 63.9% below its prior high, bottoming May 11, 2022. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since -1 from XBI; no free deep history exists for SPDR S&P Biotech ETF — 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.