Metric guide

Max Drawdown (365d)

Worst peak-to-trough drop within the last 12 months

Standalone ranking availableFoxScore methodology

Plain-language summary

What this metric tells you

Max Drawdown (365d) shows the deepest peak-to-trough loss within the selected 12-month window. It answers the question: how bad did the pain get at the worst point?

Key takeaway

Drawdown is about pain, not final outcome. A great long-term winner can still look brutal on this metric if the journey included one severe collapse.

FoxScore context

How FoxScore uses it

FoxScore uses this metric as a recent pain filter for assets that may still look impressive on return screens.
It helps expose whether a recent winner was actually easy or brutally hard to hold.
Because the window is recent, it often reacts faster to new stress than long-horizon drawdown measures.

What it measures

The single worst decline from a local high to the following low within the window.
How much damage an investor would have had to sit through at the worst moment.
A harsher but more realistic view of risk than volatility alone.

How to read it

Values are usually negative because they measure losses from a peak.
Closer to 0 is better because it means the worst setback was milder.
Large negative values mean the asset suffered one very deep hole somewhere in the lookback period.

What can mislead

How often losses happened or how long the recovery took.
You treat one historical worst event as if it fully describes day-to-day risk.
You ignore recovery speed or present trend quality.

Most useful when

You care about downside pain more than headline return.
You want to eliminate assets whose past path would have been too hard to hold.
You want a reality check on strong performance numbers.

Important limits

How often losses happened or how long the recovery took.
Whether the asset later recovered strongly after the drawdown.
Whether the current setup is improving right now.

Methodology and sources

Technical definition, calculation notes and sources stay available here without dominating the explanation.

Description

Max drawdown (365d) shows the worst drop within the last year: from a local peak to the subsequent low.

It reflects how far the price fell even if it has recovered since then.

As with all drawdowns: the value is usually negative. Less negative means the worst pullback was smaller.

Calculation

1) H_t = max(Price_{t-365..t})
2) DD_t = (Price_t / H_t) − 1
3) maxdd_365d = min(DD_t) within the last 365 days
Example: −0.20 means the largest peak-to-trough drop within the last 12 months was 20%.

Interpretation

Less negative is better (closer to 0).

Source

msci.com

Open source

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Related hubs

Continue into connected score and metric explanations.

Scores
Open related score explanations.
Overall score Performance Stability Trend
Metrics
Open related metric explanations.
Return 1 Year Return (3y)Return (5y)Return (10y)Volatility (365d, annualized)Max Drawdown (3y)

Read together with

These related metrics add the context this metric cannot provide on its own.

Return 1 Year

Read it with Return 1 Year to compare outcome versus pain over roughly the same horizon.

Volatility (365d, annualized)

Use Volatility (365d, annualized) to see whether the drawdown came from steady choppiness or one sharper collapse.

Current Drawdown

Use Current Drawdown to separate past worst damage from the asset’s current distance to highs.