BBVA vs. SAN
BBVA (Banco Bilbao Vizcaya Argentaria, S.A.) and SAN (Banco Santander, S.A.) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, BBVA returned 21.27%/yr vs 16.53%/yr for SAN. A 0.75 correlation means they provide meaningful diversification when combined.
Performance
BBVA vs. SAN - Performance Comparison
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Returns By Period
In the year-to-date period, BBVA achieves a 8.30% return, which is significantly lower than SAN's 16.51% return. Over the past 10 years, BBVA has outperformed SAN with an annualized return of 21.27%, while SAN has yielded a comparatively lower 16.53% annualized return.
BBVA
- 1D
- 0.04%
- 1M
- 13.18%
- YTD
- 8.30%
- 6M
- 10.38%
- 1Y
- 70.63%
- 3Y*
- 57.66%
- 5Y*
- 40.18%
- 10Y*
- 21.27%
SAN
- 1D
- 1.28%
- 1M
- 14.60%
- YTD
- 16.51%
- 6M
- 17.21%
- 1Y
- 72.42%
- 3Y*
- 62.67%
- 5Y*
- 32.61%
- 10Y*
- 16.53%
BBVA vs. SAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BBVA Banco Bilbao Vizcaya Argentaria, S.A. | 8.30% | 153.74% | 14.20% | 62.48% | 10.09% | 22.05% | -6.31% | 11.07% | -35.01% | 32.83% |
SAN Banco Santander, S.A. | 16.51% | 164.72% | 14.96% | 46.20% | -6.62% | 10.41% | -21.99% | -2.32% | -28.49% | 32.28% |
Correlation
The correlation between BBVA and SAN is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 1988 | 0.75 |
The correlation between BBVA and SAN has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.
Fundamentals
BBVA:
$138.53B
SAN:
$198.15B
BBVA:
€1.84
SAN:
€1.06
BBVA:
11.52
SAN:
11.03
BBVA:
0.42
SAN:
0.58
BBVA:
2.64
SAN:
2.39
BBVA:
2.14
SAN:
1.62
BBVA:
€47.06B
SAN:
€74.92B
BBVA:
€32.43B
SAN:
€46.97B
BBVA:
€18.16B
SAN:
€21.14B
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Return for Risk
BBVA vs. SAN — Risk / Return Rank
BBVA
SAN
BBVA vs. SAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) and Banco Santander, S.A. (SAN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BBVA | SAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.34 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 3.59 | -0.38 |
| Martin ratioReturn relative to average drawdown | 8.37 | 11.07 | -2.70 |
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Drawdowns
BBVA vs. SAN - Drawdown Comparison
The maximum BBVA drawdown since its inception was -78.31%, smaller than the maximum SAN drawdown of -82.94%. Use the drawdown chart below to compare losses from any high point for BBVA and SAN.
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Drawdown Indicators
| BBVA | SAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.31% | -82.94% | +4.63% |
Max Drawdown (1Y)Largest decline over 1 year | -22.14% | -20.29% | -1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -22.14% | -20.29% | -1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -42.28% | -41.13% | -1.15% |
Max Drawdown (10Y)Largest decline over 10 years | -69.63% | -73.84% | +4.21% |
Current DrawdownCurrent decline from peak | -3.31% | 0.00% | -3.31% |
Average DrawdownAverage peak-to-trough decline | -29.07% | -30.64% | +1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.47% | 6.56% | +1.91% |
Volatility
BBVA vs. SAN - Volatility Comparison
The current volatility for Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) is 9.97%, while Banco Santander, S.A. (SAN) has a volatility of 10.69%. This indicates that BBVA experiences smaller price fluctuations and is considered to be less risky than SAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBVA | SAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.97% | 10.69% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 27.03% | 27.47% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.54% | 32.98% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.60% | 33.88% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.25% | 35.83% | +0.42% |
Dividends
BBVA vs. SAN - Dividend Comparison
BBVA's dividend yield for the trailing twelve months is around 4.42%, more than SAN's 2.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBVA Banco Bilbao Vizcaya Argentaria, S.A. | 4.42% | 3.51% | 7.71% | 5.51% | 6.29% | 2.79% | 3.50% | 5.23% | 5.75% | 5.17% | 6.02% | 4.29% |
SAN Banco Santander, S.A. | 2.07% | 2.11% | 4.63% | 3.58% | 3.83% | 2.71% | 0.00% | 6.20% | 5.83% | 4.60% | 3.29% | 7.06% |
Financials
BBVA vs. SAN - Financials Comparison
This section allows you to compare key financial metrics between Banco Bilbao Vizcaya Argentaria, S.A. and Banco Santander, S.A.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
BBVA vs. SAN - Profitability Comparison
BBVA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Banco Bilbao Vizcaya Argentaria, S.A. reported a gross profit of 8.83B and revenue of 10.65B. Therefore, the gross margin over that period was 82.9%.
SAN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported a gross profit of 12.95B and revenue of 31.44B. Therefore, the gross margin over that period was 41.2%.
BBVA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Banco Bilbao Vizcaya Argentaria, S.A. reported an operating income of 4.72B and revenue of 10.65B, resulting in an operating margin of 44.3%.
SAN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported an operating income of 5.11B and revenue of 31.44B, resulting in an operating margin of 16.3%.
BBVA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Banco Bilbao Vizcaya Argentaria, S.A. reported a net income of 2.99B and revenue of 10.65B, resulting in a net margin of 28.1%.
SAN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported a net income of 5.54B and revenue of 31.44B, resulting in a net margin of 17.6%.
Frequently Asked Questions
BBVA and SAN have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAN has higher volatility (10.69%) compared to BBVA (9.97%). In terms of maximum drawdown, BBVA dropped -78.31% vs SAN's -82.94%.
SAN currently has the higher Sharpe Ratio (2.21 vs 2.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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