ZTO Express (Cayman) Inc. American Depositary Shares each representing one (ZTO) is 44.3% below its all-time high, set Jun 19, 2020 (as of market close, Aug 19, 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 (2016).
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 ZTO, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jun 19, 2020 | Feb 2, 2024 | −58.4% | 3.6 yrs | not yet | 6.2 yrs+ |
| Oct 28, 2016 | Mar 10, 2017 | −33.9% | 4 mo | Nov 6, 2017 | 12 mo |
| Jul 16, 2018 | Oct 10, 2018 | −33.3% | 3 mo | Nov 4, 2019 | 16 mo |
| Nov 10, 2017 | Mar 28, 2018 | −16.9% | 5 mo | May 21, 2018 | 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.
One dot per month since 2016: how far ZTO 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: ZTO 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.
Daily closing prices since 2016 (split-adjusted). "All-time" means since our price data begins — ZTO 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.
