Moving Average Alerts

Data through Friday, November 6, 2026 close. Unadjusted closes.

The odds · Falls

The most volatile ETFs of the last ten years: the ones that fell most from their highs

LABU (a worst fall of −99%), ERX (a worst fall of −99%) and UNG (a worst fall of −94%) lead the 90 funds with ten years of history.

Nov 7, 2016 to Nov 6, 2026, the same ten years for every fund. Dividend-adjusted closes, so distributions count. A fall is measured from the highest close before it to the lowest close after, and "back at the high" is the first close at or above it.

The top ten

#FundNameWorst fallFromBack at the highSessions 10%+ underFalls of 20%+
1 LABU Direxion Daily S&P Biotech Bull 3X Shares −99%Feb 8, 2021—92%8
2 ERX Direxion Daily Energy Bull 2X Shares −99%Jan 22, 2018—97%2
3 UNG United States Natural Gas Fund, LP −94%Nov 14, 2018—98%2
4 TMF Direxion Daily 20+ Year Treasury Bull 3X Shares −94%Mar 9, 2020—92%3
5 NUGT Direxion Daily Gold Miners Index Bull 2X Shares −92%Nov 9, 20163.3 years99%3
6 SOXL Direxion Daily Semiconductor Bull 3X Shares −90%Dec 27, 20213.3 years77%17
7 GBTC Grayscale Bitcoin Trust ETF −90%Dec 18, 20172.1 years85%9
8 TNA Direxion Daily Small Cap Bull 3X Shares −88%Aug 31, 201811 months82%4
9 USO United States Oil Fund, LP −87%Oct 3, 20185.9 years83%3
10 FAS Direxion Daily Financial Bull 3X Shares −86%Feb 14, 20201.1 years68%9

All 90 funds with ten years of history

#FundNameWorst fallFromTo the lowBack at the highSessions 10%+ underFalls of 20%+A year
1 LABU Direxion Daily S&P Biotech Bull 3X Shares −99%Feb 8, 2021Apr 8, 2025—92%8−9.2%
2 ERX Direxion Daily Energy Bull 2X Shares −99%Jan 22, 2018Mar 23, 2020—97%2−8.9%
3 UNG United States Natural Gas Fund, LP −94%Nov 14, 2018Nov 2, 2026—98%2−22.6%
4 TMF Direxion Daily 20+ Year Treasury Bull 3X Shares −94%Mar 9, 2020Oct 5, 2026—92%3−16.9%
5 NUGT Direxion Daily Gold Miners Index Bull 2X Shares −92%Nov 9, 2016Sep 26, 20223.3 years99%3−5.4%
6 SOXL Direxion Daily Semiconductor Bull 3X Shares −90%Dec 27, 2021Oct 14, 20223.3 years77%1732.3%
7 GBTC Grayscale Bitcoin Trust ETF −90%Dec 18, 2017Dec 14, 20182.1 years85%950.9%
8 TNA Direxion Daily Small Cap Bull 3X Shares −88%Aug 31, 2018Mar 23, 202011 months82%45.1%
9 USO United States Oil Fund, LP −87%Oct 3, 2018Apr 28, 20205.9 years83%36.2%
10 FAS Direxion Daily Financial Bull 3X Shares −86%Feb 14, 2020Mar 23, 20201.1 years68%921.2%
11 XOP State Street SPDR S&P Oil & Gas Exploration & Production ETF −83%Oct 3, 2018Mar 23, 20202.2 years79%44.0%
12 TQQQ ProShares UltraPro QQQ −82%Nov 19, 2021Dec 28, 20221.9 years60%1236.2%
13 ARKK ARK Innovation ETF −81%Feb 12, 2021Dec 28, 2022—66%315.2%
14 UDOW ProShares UltraPro Dow30 −80%Feb 12, 2020Mar 23, 20201.0 years57%522.2%
15 TECL Direxion Daily Technology Bull 3X Shares −78%Dec 27, 2021Oct 12, 20221.7 years63%1340.9%
16 SPXL Direxion Daily S&P500 Bull 3X Shares −77%Feb 19, 2020Mar 23, 202010 months49%728.0%
17 UPRO ProShares UltraPro S&P500 −77%Feb 19, 2020Mar 23, 202010 months49%727.9%
18 XLE State Street Energy Select Sector SPDR ETF −67%May 21, 2018Mar 18, 20201.8 years50%310.3%
19 XBI State Street SPDR S&P Biotech ETF −64%Feb 8, 2021May 11, 2022—69%210.4%
20 QLD ProShares Ultra QQQ −64%Nov 19, 2021Dec 28, 20221.4 years44%1130.7%
21 FXI iShares China Large-Cap ETF −61%Feb 17, 2021Oct 31, 2022—84%21.8%
22 SSO ProShares Ultra S&P500 −59%Feb 19, 2020Mar 23, 20205 months37%422.9%
23 SLV iShares Silver Trust −58%Jan 28, 2026Oct 30, 2026—68%410.5%
24 EWZ iShares MSCI Brazil ETF −57%Jan 2, 2020Mar 23, 20205.6 years70%33.7%
25 BIZD VanEck BDC Income ETF −55%Feb 20, 2020Mar 23, 202011 months28%37.7%
26 KRE State Street SPDR S&P Regional Banking ETF −55%Jun 8, 2018Mar 23, 202011 months61%27.7%
27 ITB iShares U.S. Home Construction ETF −52%Feb 20, 2020Mar 23, 20204 months56%414.9%
28 ITA iShares U.S. Aerospace & Defense ETF −51%Feb 12, 2020Mar 23, 20202.9 years27%313.4%
29 GDX VanEck Gold Miners ETF −50%Aug 5, 2020Sep 26, 20222.1 years72%614.9%
30 EWY iShares MSCI South Korea ETF −50%Jan 8, 2021Sep 30, 20223.0 years70%411.5%
31 TLT iShares 20+ Year Treasury Bond ETF −48%Aug 4, 2020Oct 19, 2023—59%1−1.8%
32 XRT State Street SPDR S&P Retail ETF −47%Aug 23, 2018Mar 23, 20205 months71%39.5%
33 EWG iShares MSCI Germany ETF −47%Jan 23, 2018Mar 18, 202012 months46%27.5%
34 IGV iShares Expanded Tech-Software Sector ETF −46%Nov 9, 2021Nov 4, 20221.9 years37%516.1%
35 SOXX iShares Semiconductor ETF −46%Dec 27, 2021Oct 14, 20221.2 years37%528.3%
36 SMH VanEck Semiconductor ETF −45%Dec 27, 2021Oct 14, 20229 months34%531.0%
37 INDA iShares MSCI India ETF −45%Jan 23, 2018Mar 23, 20208 months39%37.0%
38 IJR iShares Core S&P Small-Cap ETF −44%Aug 31, 2018Mar 23, 20208 months40%310.4%
39 EWU iShares MSCI United Kingdom ETF −43%Jan 26, 2018Mar 23, 20201.1 years21%28.7%
40 XLF State Street Financial Select Sector SPDR ETF −43%Feb 14, 2020Mar 23, 202010 months30%313.2%
41 VNQ Vanguard Real Estate Index Fund ETF Shares −42%Feb 21, 2020Mar 23, 20201.1 years44%25.9%
42 XLI State Street Industrial Select Sector SPDR ETF −42%Feb 12, 2020Mar 23, 20208 months13%312.8%
43 MDY State Street SPDR S&P MIDCAP 400 ETF Trust −42%Feb 20, 2020Mar 23, 20208 months22%410.5%
44 DBC Invesco DB Commodity Index Tracking Fund −42%Oct 3, 2018Apr 27, 20201.0 years61%29.7%
45 DVY iShares Select Dividend ETF −42%Jan 17, 2020Mar 23, 202011 months16%110.6%
46 IWM iShares Russell 2000 ETF −41%Aug 31, 2018Mar 23, 20208 months41%310.1%
47 EEM iShares MSCI Emerging Markets ETF −40%Feb 17, 2021Oct 24, 20222.9 years62%27.1%
48 XLY State Street Consumer Discretionary Select Sector SPDR ETF −40%Nov 19, 2021Dec 28, 20221.9 years33%412.8%
49 VLUE iShares MSCI USA Value Factor ETF −39%Feb 12, 2020Mar 23, 202010 months28%313.8%
50 RSP Invesco S&P 500 Equal Weight ETF −39%Feb 12, 2020Mar 23, 20208 months14%212.1%
51 EWT iShares MSCI Taiwan ETF −39%Jan 4, 2022Oct 24, 20221.6 years30%516.8%
52 XLRE State Street Real Estate Select Sector SPDR ETF −39%Feb 21, 2020Mar 23, 20201.0 years39%27.4%
53 CPER United States Copper Index Fund, LP −38%Dec 28, 2017Mar 23, 20208 months58%59.5%
54 XLB State Street Materials Select Sector SPDR ETF −37%Jan 26, 2018Mar 23, 20204 months21%310.4%
55 VTV Vanguard Morningstar Value ETF −37%Feb 12, 2020Mar 23, 20209 months10%112.7%
56 DIA State Street SPDR Dow Jones Industrial Average ETF Trust −37%Feb 12, 2020Mar 23, 20208 months9%213.0%
57 VWO Vanguard FTSE Emerging Markets Index Fund ETF Shares −36%Jan 26, 2018Mar 23, 20208 months51%26.8%
58 XLU State Street Utilities Select Sector SPDR ETF −36%Feb 18, 2020Mar 23, 20201.4 years25%29.3%
59 VXUS Vanguard Total International Stock Index Fund ETF Shares −36%Jan 26, 2018Mar 23, 20208 months31%28.9%
60 VEA Vanguard FTSE Developed Markets Index Fund ETF Shares −36%Jan 26, 2018Mar 23, 20208 months24%29.6%
61 NOBL ProShares S&P 500 Dividend Aristocrats ETF −35%Jan 17, 2020Mar 23, 20207 months8%111.0%
62 DBA Invesco DB Agriculture Fund −35%Jan 17, 2017Jun 26, 20201.6 years41%14.1%
63 QQQ Invesco QQQ Trust −35%Dec 27, 2021Nov 3, 20221.1 years21%419.7%
64 VTI Vanguard Morningstar Total Stock Market ETF −35%Feb 19, 2020Mar 23, 20205 months17%314.6%
65 EFA iShares MSCI EAFE ETF −34%Jan 26, 2018Mar 23, 20208 months22%29.1%
66 PFF iShares Preferred and Income Securities ETF −34%Feb 11, 2020Mar 18, 20207 months19%22.6%
67 MTUM iShares MSCI USA Momentum Factor ETF −34%Feb 19, 2020Mar 23, 20203 months29%514.2%
68 QUAL iShares MSCI USA Quality Factor ETF −34%Feb 19, 2020Mar 23, 20205 months17%314.3%
69 CIBR First Trust NASDAQ Cybersecurity ETF −34%Nov 12, 2021Oct 14, 20221.3 years28%517.2%
70 SPY State Street SPDR S&P 500 ETF Trust −34%Feb 19, 2020Mar 23, 20205 months15%215.0%
71 XLK State Street Technology Select Sector SPDR ETF −34%Dec 27, 2021Oct 12, 20228 months21%422.7%
72 ACWI iShares MSCI ACWI ETF −34%Feb 12, 2020Mar 23, 20205 months17%212.2%
73 XYLD Global X S&P 500 Covered Call ETF −33%Feb 19, 2020Mar 23, 202012 months14%18.3%
74 SCHD Schwab U.S. Dividend Equity ETF −33%Jan 23, 2020Mar 23, 20205 months10%113.5%
75 EWJ iShares MSCI Japan ETF −33%Sep 15, 2021Oct 20, 20221.4 years35%28.0%
76 USMV iShares MSCI USA Min Vol Factor ETF −33%Feb 14, 2020Mar 23, 202010 months9%110.6%
77 VIG Vanguard Dividend Appreciation Index Fund ETF Shares −32%Feb 14, 2020Mar 23, 20205 months9%213.5%
78 EMB iShares J.P. Morgan USD Emerging Markets Bond ETF −29%Sep 2, 2021Oct 20, 20222.8 years26%22.6%
79 XLV State Street Health Care Select Sector SPDR ETF −28%Jan 22, 2020Mar 23, 20204 months11%112.4%
80 GLD SPDR Gold Shares −28%Jan 29, 2026Oct 30, 2026—29%211.8%
81 LQD iShares iBoxx $ Investment Grade Corporate Bond ETF −25%Sep 22, 2021Oct 20, 2022—27%22.1%
82 QYLD Global X NASDAQ 100 Covered Call ETF −25%Feb 19, 2020Mar 16, 20208 months15%29.2%
83 XLP State Street Consumer Staples Select Sector SPDR ETF −25%Feb 14, 2020Mar 23, 20205 months8%18.4%
84 IEF iShares 7-10 Year Treasury Bond ETF −24%Aug 4, 2020Oct 19, 2023—46%10.5%
85 JNK State Street SPDR Bloomberg High Yield Bond ETF −23%Feb 20, 2020Mar 23, 20208 months8%14.3%
86 HYG iShares iBoxx $ High Yield Corporate Bond ETF −22%Feb 13, 2020Mar 23, 20208 months7%14.3%
87 BND Vanguard Total Bond Market Index Fund ETF Shares −19%Aug 6, 2020Oct 20, 2022—22%01.5%
88 AGG iShares Core U.S. Aggregate Bond ETF −18%Aug 4, 2020Oct 20, 2022—22%01.5%
89 TIP iShares TIPS Bond ETF −15%Nov 9, 2021Oct 6, 20232.4 years13%02.2%
90 SHY iShares 1-3 Year Treasury Bond ETF −6%Aug 2, 2021Oct 20, 20221.6 years0%01.7%

Nov 7, 2016 to Nov 6, 2026. Dividend-adjusted closes, so distributions count. A fall is measured from the highest close before it to the lowest close after, and "back at the high" is the first close at or above it. A muted figure rests on fewer than 30 independent windows. Yahoo Finance daily closes; the method page has every definition.

Not yet ten years: 10 funds listed, not ranked

FundNameListedYears of history
XLC State Street Communication Services Select Sector SPDR ETF Jun 19, 2018 8.4
JEPI JPMorgan Equity Premium Income ETF May 21, 2020 6.5
JEPQ JPMorgan Nasdaq Equity Premium Income ETF May 4, 2022 4.5
DIVO Amplify CWP Enhanced Dividend Income ETF Dec 15, 2016 9.9
SPYI Neos S&P 500(R) High Income ETF Aug 30, 2022 4.2
QQQI NEOS NASDAQ-100(R) High Income ETF Jan 30, 2024 2.8
GPIX Goldman Sachs S&P 500 Premium Income ETF Oct 27, 2023 3.0
IBIT iShares Bitcoin Trust ETF Jan 11, 2024 2.8
FBTC Fidelity Wise Origin Bitcoin Fund Jan 11, 2024 2.8
ETHA iShares Ethereum Trust ETF Jul 23, 2024 2.3

Each fund's own page carries the same statistics over its own span.

Questions

Why the last ten years?

Because a ranking has to compare the same dates: SPY has traded since 1993 and the youngest funds since 2025, so a figure over each fund's whole life would compare nothing. Ten years holds two large falls (2020, 2022) and leaves 10 funds too young to rank, listed below the table with their own span.

What was measured?

Dividend-adjusted closes, so distributions count. A fall is measured from the highest close before it to the lowest close after, and "back at the high" is the first close at or above it.

When does this page update?

After every US market close, once the day's official close is final; the dateline at the top names the last close it reflects.

Data through the November 6, 2026 close. Rankings of the past, not advice. The other lists: Best-performing · Fell least · Higher a year later · Whipsaw least · Whipsaw most · 200-day mattered most · 200-day rule · 100-day rule · 50-day rule.