AeroVironment (AVAV): Returns, Risk & Drawdowns

Reviewed by Sid Kalla CFA Charterholder

Quick Answer

What is AeroVironment's risk, return, and volatility like?

AeroVironment returned +38.1% over the 1Y window. On the 5Y lens, Sharpe ratio is 0.41, annualized volatility is 54.5%, and max drawdown is -56.8%.

Total Return

1Y +38.1%

5Y +77.9%

Sharpe Ratio

1Y 0.75

5Y 0.41

Annualized Volatility

1Y 69.0%

5Y 54.5%

Max Drawdown

1Y -56.8%

5Y -56.8%

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Price history

AeroVironment price over the past 5Y

Track AeroVironment's standalone price path with macro and asset-specific events enabled by default.

AeroVironment price over the past 5Y

AVAV

Latest close $201.91 Data through 2026-04-23

5Y low $53.78 Window low

5Y high $409.83 Window high

Key takeaways

Total Return: AVAV returned +38.1% over the 1Y window and +77.9% over the 5Y window ; annualized return over 5Y was +12.2%.
Risk-adjusted return: Sharpe was 0.41 and Sortino was 0.61 over 5Y. Sharpe counts total volatility; Sortino focuses on downside volatility.
Volatility & drawdown: Annualized volatility was 69.0% over 1Y and 54.5% over 5Y ; max drawdown was -56.8% over 1Y and -56.8% over 5Y .
Tail risk (Expected Shortfall): Over 5Y, daily VaR (5%) was -4.9% and Expected Shortfall was -8.0%. VaR is the cutoff; Expected Shortfall is the average move inside the worst 5% of daily returns.
Skew & kurtosis: Over 5Y, skew was -0.30 and excess kurtosis was 13.00. Skew shows return asymmetry; excess kurtosis shows how fat the tails were versus a Normal distribution.
Risk ratios: Sortino Ratio: 0.61 , Calmar Ratio: 0.22 , Sterling Ratio: 0.25 , Treynor Ratio: 0.21 , Ulcer Index: 24.27% .

AeroVironment Drawdown

AVAV 1Y Max Drawdown

↓ -56.8%

2025-10-13 to 2026-03-30

AVAV 5Y Max Drawdown

↓ -56.8%

2025-10-13 to 2026-03-30

Max drawdown shows the deepest peak-to-trough decline AeroVironment suffered in each research window. 1Y: -56.8%; 5Y: -56.8%.

AeroVironment is currently -50.7% below its prior peak, with the high-water mark at $409.83. 5Y low is $53.78.

AVAV underwater plot (5Y). Zero means at a prior peak; dips show how far below peak the close was on each day. Deepest trough: -56.8% on Mar 30, 2026.

5Y drawdown episodes

-56.8% Oct 13, 2025 to Mar 30, 2026

Not yet recovered 192 total days

-52.9% Jun 15, 2021 to Jan 28, 2022

Recovered Sep 6, 2023 813 total days

-52.5% Nov 11, 2024 to Apr 4, 2025

Recovered Jun 26, 2025 227 total days

AeroVironment Volatility

AVAV 1Y Volatility

69.0%

Annualized daily closes

AVAV 5Y Volatility

54.5%

Annualized daily closes

Volatility AeroVironment's annualized volatility shows how widely daily closes moved over 1Y and 5Y. Higher values mean a noisier path, not automatically a better or worse investment. 1Y: 69.0%; 5Y: 54.5%.

Benchmark context

Where AVAV fits relative to other lenses

Benchmark links are secondary on this page. Use them when you want to place the asset against a specific market, factor, or historical counterpart.

Default benchmark

S&P 500

SPY

Broad equity benchmark

1Y return

↑ +30.7%

AVAV minus SPY

↑ +4.8%

Correlation

0.31

AVAV vs SPY average correlation

Moderately linked

0.31

QQQ

Nasdaq 100

Corr 0.32

Growth and tech benchmark

1Y return +39.9%

AVAV minus QQQ -4.3%

BTC

Bitcoin

Corr 0.35

Cross-asset crypto benchmark

1Y return -17.1%

AVAV minus BTC +52.7%

XAU

Gold

Corr 0.10

Store-of-value benchmark

1Y return +40.2%

AVAV minus XAU -4.6%

Risk-adjusted ratios

These ratios compare return against different definitions of risk: total volatility, downside volatility, drawdowns, benchmark beta, and time spent underwater.

AeroVironment Sharpe Ratio

AVAV 1Y Sharpe ratio

↑ 0.75

Recent window

AVAV 5Y Sharpe ratio

↑ 0.41

Deeper research window

AVAV Sharpe Ratio (5Y)

Return per total volatility

The dot sits at (AeroVironment's annualized volatility, its excess annualized return). The slope from the origin to the dot is the Sharpe ratio — steeper means the asset converted risk into return more efficiently.

Higher is better

excess annualized return / total volatility

Formula

\displaystyle \mathrm{Sharpe} = \frac{\mathbb{E}[R] - R_f}{\sigma_R}

Sharpe ratio AeroVironment's Sharpe ratio measures excess return per unit of total volatility. Higher readings mean the asset converted risk into return more efficiently over the same window. 1Y: 0.75; 5Y: 0.41.

A Sharpe above 1.0 is generally considered good, above 2.0 is excellent. Negative Sharpe means the asset underperformed the risk-free rate. Calculated on each asset's full 365-day lookback of available prices and annualized using the asset calendar (365 for crypto, 252 trading days for equities/ETFs/metals).

AeroVironment Sortino Ratio

AVAV 1Y Sortino ratio

↑ 1.13

Recent window

AVAV 5Y Sortino ratio

↑ 0.61

Deeper research window

AVAV Sortino Ratio (5Y)

Return per downside volatility

AeroVironment's daily-return distribution over the long window. Days left of the target line are the only ones Sortino penalizes in the denominator — so a distribution with a fat left tail produces a smaller Sortino even at the same mean return.

Higher is better

excess annualized return / downside volatility

Formula

\displaystyle \mathrm{Sortino} = \frac{\mathbb{E}[R] - R_f}{\sigma_{\mathrm{down}}}

Sortino ratio AeroVironment's Sortino ratio isolates downside volatility instead of all volatility. It is the cleaner lens when you care more about bad downside moves than upside noise. 1Y: 1.13; 5Y: 0.61.

A higher Sortino is better. It's useful when upside volatility is common (crypto is the obvious example). Calculated on each asset's full 365-day lookback of available prices, using the daily risk-free rate as the target return, and annualized using the asset calendar (365 for crypto, 252 trading days for equities/ETFs/metals).

AeroVironment Calmar Ratio

AVAV 1Y Calmar ratio

↑ 0.67

Recent window

AVAV 5Y Calmar ratio

↑ 0.22

Deeper research window

AVAV Calmar Ratio (5Y)

CAGR per worst drawdown

AeroVironment's CAGR bar sits above zero, the max drawdown bar sits below. Calmar is the ratio of those two magnitudes — a shallow drawdown bar with a tall CAGR bar produces a strong Calmar.

Higher is better

CAGR / max drawdown

Formula

\displaystyle \mathrm{Calmar} = \frac{\mathrm{CAGR}}{|\mathrm{MaxDD}|}

Calmar ratio AeroVironment's Calmar ratio measures return per unit of max drawdown. It is useful when the path of losses matters as much as the final return. 1Y: 0.67; 5Y: 0.22.

Calmar is computed on each asset's full 365-day lookback and uses the max drawdown over that same window.

AeroVironment Sterling Ratio

AVAV 1Y Sterling ratio

↑ 0.88

Recent window

AVAV 5Y Sterling ratio

↑ 0.25

Deeper research window

AVAV Sterling Ratio (5Y)

Return per average drawdown

The underwater curve shows AeroVironment's drawdowns over the long window. Sterling averages every event deeper than the 10% threshold instead of taking only the worst one — so an asset with many mid-size drawdowns scores worse here than on Calmar.

Higher is better

excess CAGR / average deep drawdown

Formula

\displaystyle \mathrm{Sterling} = \frac{\mathrm{CAGR} - R_f}{\overline{D}_{>10\%}}

Sterling ratio AeroVironment's Sterling ratio compares return against deep drawdown pressure. It gives a harsher read on assets that compound well but suffer ugly declines along the way. 1Y: 0.88; 5Y: 0.25.

Sterling uses average drawdown events deeper than 10% and subtracts the risk-free rate to report excess return.

AeroVironment Ulcer Index

AVAV 1Y Ulcer Index

27.37

Recent window

AVAV 5Y Ulcer Index

24.27

Deeper research window

AVAV Ulcer Index (5Y)

Drawdown pain

The underwater curve shows how deep and how long AeroVironment's drawdowns were. Ulcer is the root-mean-square of that curve — both depth and persistence count, so lower is better.

Lower is better

root-mean-square drawdown

Formula

\displaystyle \mathrm{UI} = \sqrt{\mathbb{E}[D_t^2]}

Ulcer Index AeroVironment's Ulcer Index measures both the depth and persistence of drawdowns. Lower is better because it means fewer and shallower underwater periods. 1Y: 27.37; 5Y: 24.27.

Ulcer Index is computed from each asset's drawdown series over the full lookback window.

AeroVironment Treynor Ratio

AVAV 1Y Treynor

↑ 0.34

Beta 1.54 vs SPY

AVAV 5Y Treynor

↑ 0.21

Beta 1.07 vs SPY

AVAV Treynor Ratio (5Y)

Excess return per beta vs SPY

The line's slope is AeroVironment's beta to SPY — steeper means more market-sensitive. Treynor divides excess return by that slope, so an asset can look efficient with a shallow beta and a small return, or inefficient with a steep beta and a big return.

Higher is better

excess return / market beta

Formula

\displaystyle \mathrm{Treynor} = \frac{\mathbb{E}[R] - R_f}{\beta}

Treynor ratio measures excess return per unit of market beta versus SPY. A high Treynor means the asset compensated its market exposure well over this window. A low or negative Treynor means the asset's market risk wasn't rewarded.

Treynor uses beta vs the S&P 500 (SPY) on shared dates and the average 3-month Treasury rate as the risk-free rate.

AeroVironment Tail Risk

Tail-risk stats use daily return distributions rather than simple end-point returns. They show how ugly the left tail has been, how severe the worst 5% of days were, and whether returns were skewed toward outsized upside or downside shocks.

The histogram shows the shape of AeroVironment's daily log returns over the 5Y window. Bars left of the 5% VaR marker are the worst 5% of days; the ES marker is the average loss inside that tail. Skew and excess kurtosis describe whether the distribution is symmetric around zero and whether extreme days are more common than a Normal distribution predicts.

AVAV daily return distribution (5Y)

Log-return histogram with Value-at-Risk and Expected Shortfall markers at the 5% left tail.

Days

worst-5% daily return and the average loss inside it

Formula

\displaystyle \mathrm{VaR}_{5\%} = Q_{0.05}(R),\quad \mathrm{ES}_{5\%} = \mathbb{E}[R \mid R \le \mathrm{VaR}_{5\%}]

Metric	1Y	5Y
VaR (5%)	-6.5% Historical daily threshold	-4.9% Historical daily threshold
Expected shortfall (5%)	-10.2% Beyond the VaR threshold	-8.0% Beyond the VaR threshold
Skew	-0.11	-0.30
Excess kurtosis	4.27	13.00

Less negative daily VaR and Expected Shortfall values mean the left tail was less violent. Skew and excess kurtosis help distinguish between steady compounding and a path dominated by occasional extreme moves.

Full stats table

Every window-consistent research metric

Each column keeps the same horizon across returns, ratios, drawdowns, and tail-risk metrics.

Metric	1Y Recent window	5Y Deeper research window
Total return	+38.1%	+77.9%
Annualized return	+38.1%	+12.2%
Volatility	69.0% Annualized daily closes	54.5% Annualized daily closes
Sharpe ratio	0.75	0.41
Sortino ratio	1.13	0.61
Calmar ratio	0.67	0.22
Sterling ratio	0.88	0.25
Ulcer Index	27.37	24.27
Max drawdown	-56.8% 2025-10-13 to 2026-03-30	-56.8% 2025-10-13 to 2026-03-30
VaR (5%)	-6.5% Historical daily threshold	-4.9% Historical daily threshold
Expected shortfall (5%)	-10.2% Beyond the VaR threshold	-8.0% Beyond the VaR threshold
Skew	-0.11	-0.30
Excess kurtosis	4.27	13.00

What viewers usually ask next

What is AeroVironment's 5Y CAGR?

AeroVironment's 5y cagr is +12.2% on Gale using the past 5 years.

What is AeroVironment's 1-year volatility?

Annualized volatility is 69.0% over the past year.

What is AeroVironment's 5-year Sharpe ratio?

AeroVironment's Sharpe ratio is 0.41 using the past 5 years.

What is AeroVironment's 5-year Sortino ratio?

AeroVironment's Sortino ratio is 0.61 using the past 5 years.

What is AeroVironment's 5-year Calmar ratio?

AeroVironment's Calmar ratio is 0.22 using the past 5 years.

What is AeroVironment's 5-year Sterling ratio?

AeroVironment's Sterling ratio is 0.25 using the past 5 years.

What is AeroVironment's 5-year Ulcer Index?

AeroVironment's Ulcer Index is 24.27 using the past 5 years. Lower is better because it means shallower and less persistent drawdowns.

What is AeroVironment's 5-year max drawdown?

Max drawdown is -56.8% over the past 5 years from 2025-10-13 to 2026-03-30.

What is AeroVironment's 5-year daily Value at Risk?

Using historical daily returns, Gale estimates a 5% Value at Risk of -4.93% over the past 5 years.

What is AeroVironment's 5-year Expected Shortfall?

Expected Shortfall is -8.01% over the past 5 years, which captures the average outcome inside the worst 5% of daily returns.

Is AeroVironment still below its all-time high?

Current drawdown is -50.7% versus the all-time high of $409.83 reached on 2025-10-13.

Which benchmark should viewers open first for AeroVironment?

S&P 500 is the default benchmark lens on Gale because it gives the cleanest context for AeroVironment's recent behavior.