S&P/ASX 200 Index (ASX: XJO) shares edged 2.77% higher and delivered total returns, including dividends, of 7% in FY26.
100 ASX 200 shares rose in FY26, 11 finished steady, and 89 lost value.
Here, we take a closer look at the stragglers.
All five of these ASX 200 shares more than halved in value last year, and unusually, three are large-caps.
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5 biggest fallers of the ASX 200 in FY26
These are the five worst-performing ASX 200 shares for capital growth in FY26.
1. WiseTech Global Ltd (ASX: WTC)
This ASX 200 tech share crumbled 70% to finish the year at $33 apiece.
Wisetech shares traded in a 52-week range of $28.76 to $121.31 in FY26.
The company's CargoWise software-as-a-service (SaaS) platform remains a leading management product within the global logistics industry.
However, governance issues plagued the ASX 200 tech share in FY26.
As my colleague Marc reported, media scrutiny about founder and executive chairman, Richard White, has made making investors feel uneasy.
2. Tuas Ltd (ASX: TUA)
This ASX 200 telecommunications share lost 62% of its valuation to close out FY26 at $2.27.
Tuas shares traded in a 52-week band of $1.91 to $8.38 in FY26.
On 18 May, the Tuas share price crashed 63% after the Singapore-based telco revealed its Simba business may have used radio frequency bands it was not authorised to use.
Then last month, Tuas shares were smashed again after the company terminated its proposed S$1.4 billion acquisition of M1 Limited.
Tuas had undertaken a $416 million capital raising at $5.51 per new share to fund the acquisition.
3. Xero Ltd (ASX: XRO)
This ASX 200 technology share tanked 60% to finish FY26 at $72.22.
Xero shares traded in a 52-week range of $65 to $186.38 in FY26.
Many experts believe this accounting software provider has been unfairly sold off amid a broader tech sector rout.
The ASX 200 tech sector was the second-worst performer of the 11 market sectors in FY26, dropping 37.22%.
Market fear over how artificial intelligence (AI) may impact software-as-a-service (SaaS) businesses, like Xero, contributed to the rout.
Xero reported a 27% fall in net profit after tax (NPAT) for FY26, largely due to its Melio acquisition.
The company overtook Wisetech as the ASX 200 tech sector's No. 1 share by market cap in May.
4. Cochlear Ltd (ASX: COH)
This ASX 200 healthcare share fell 59% to $121.75 in FY26.
Cochlear shares traded between an 11-year low of $88.74 and a peak of $319.56 in FY26.
The Cochlear share price crashed when the hearing implant maker downgraded its guidance in April.
Cochlear cited capacity constraints at hospitals, falling consumer confidence, cancellations in the Middle East, industrial action in Italy and Spain, and China lowering patient rebates.
Healthcare was the worst-performing sector of FY26 due to many industry headwinds.
The S&P/ASX 200 Health Care Index (ASX: XHJ) fell 37.4% in FY26.
5. CSL Ltd (ASX: CSL)
The market's largest ASX 200 healthcare share by market cap had another terrible year.
The CSL share price declined 52% to finish FY26 at $114.74 on Tuesday.
CSL shares traded between a 10-year low of $90 per share and a high of $275.79 in FY26.
The biotech giant downgraded its FY26 outlook and announced $5 billion in extra non-cash pre-tax impairments for FY26 and FY27.
The CSL Vifor division has also disappointed investors.
Some fundies are taking overweight positions in CSL shares on hopes of a comeback for this former ASX 200 blue-chip share.
The healthcare sector appeared to pivot on 3 June when the index hit a 9-year low.
Since then, value investors have returned, and CSL shares have outperformed the index.
The CSL share price has risen 24% vs. a 17% lift for ASX 200 healthcare shares as a group since 3 June.
