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This article evaluates drought scenarios of the Upper Colorado River basin (UCRB) considering multiple drought variables for the past 500 years and positions the current drought in terms of the magnitude and frequency. Drought characteristics were developed considering water-year data of UCRB’s streamflow, and basin-wide averages of the Palmer Hydrological Drought Index (PHDI) and the Palmer Z Index. Streamflow and drought indices were reconstructed for the last 500 years using a principal component regression model based on tree-ring data. The reconstructed streamflow showed higher variability as compared with reconstructed PHDI and reconstructed Palmer Z Index. The magnitude and severity of all droughts were...