XLK drawdown: 11.3% below the all-time high
Technology Select Sector SPDR Fund (XLK) is 11.3% below its all-time high, set Jun 2, 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 (1998).
- Below all-time high
- −11.3%
- 88.7% of ATH
- All-time high
- $198.2
- Jun 2, 2026
- Time below the high
- 52 days
- since Jun 2, 2026
- Worst-ever drawdown
- −82.0%
- Oct 9, 2002
- Longest underwater
- 17.7 yrs
- between all-time highs
- Today's level first reached
- May 11, 2026
- 2 mo ago
- Last time this deep
- Apr 1, 2026
- in a previous episode
% of all-time high since 1998#
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 XLK, 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 |
|---|---|---|---|---|---|
| Mar 27, 2000 | Oct 9, 2002 | −82.0% | 2.5 yrs | Nov 24, 2017 | 17.7 yrs |
| Dec 27, 2021 | Oct 12, 2022 | −34.0% | 9 mo | Jul 17, 2023 | 1.6 yrs |
| Feb 19, 2020 | Mar 23, 2020 | −31.5% | 33 days | Jun 10, 2020 | 4 mo |
| Feb 19, 2025 | Apr 8, 2025 | −25.8% | 48 days | Jun 12, 2025 | 4 mo |
| Oct 3, 2018 | Dec 24, 2018 | −24.1% | 3 mo | Apr 8, 2019 | 6 mo |
| Jul 10, 2024 | Aug 7, 2024 | −17.0% | 28 days | Dec 4, 2024 | 5 mo |
| Oct 29, 2025 | Mar 30, 2026 | −16.2% | 5 mo | Apr 17, 2026 | 6 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 1998: how far XLK 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: XLK 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 XLK from its all-time high?
- XLK is currently 11.3% below its all-time high, set Jun 2, 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 XLK drawdown ever?
- The deepest decline on record in our data (since 1998) took the stock 82.0% below its prior high, bottoming Oct 9, 2002. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1998 (split-adjusted). "All-time" means since our price data begins — XLK 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.