BSBR vs. IGSB
BSBR (Banco Santander (Brasil) S.A.) is a stock, while IGSB (iShares Short-Term Corporate Bond ETF) is Corporate Bonds fund tracking the ICE BofAML 1-5 Year US Corporate Index. Over the past 10 years, BSBR returned 6.93%/yr vs 2.75%/yr for IGSB. At a 0.09 correlation, their price movements are largely independent.
Performance
BSBR vs. IGSB - Performance Comparison
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Returns By Period
In the year-to-date period, BSBR achieves a -9.08% return, which is significantly lower than IGSB's 0.79% return. Over the past 10 years, BSBR has outperformed IGSB with an annualized return of 6.93%, while IGSB has yielded a comparatively lower 2.75% annualized return.
BSBR
- 1D
- 0.94%
- 1M
- -8.55%
- YTD
- -9.08%
- 6M
- -15.06%
- 1Y
- 11.89%
- 3Y*
- 2.19%
- 5Y*
- -2.51%
- 10Y*
- 6.93%
IGSB
- 1D
- 0.08%
- 1M
- 0.27%
- YTD
- 0.79%
- 6M
- 1.18%
- 1Y
- 4.52%
- 3Y*
- 5.69%
- 5Y*
- 2.44%
- 10Y*
- 2.75%
BSBR vs. IGSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSBR Banco Santander (Brasil) S.A. | -9.08% | 67.32% | -36.75% | 29.04% | 7.57% | -30.10% | -23.66% | 13.87% | 23.24% | 11.80% |
IGSB iShares Short-Term Corporate Bond ETF | 0.79% | 6.96% | 4.97% | 6.40% | -5.63% | -0.56% | 5.37% | 7.11% | 1.25% | 1.27% |
Correlation
The correlation between BSBR and IGSB is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2009 | 0.09 |
The correlation between BSBR and IGSB shifts across timeframes, from 0.09 (all time) to 0.26 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BSBR vs. IGSB — Risk / Return Rank
BSBR
IGSB
BSBR vs. IGSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Santander (Brasil) S.A. (BSBR) and iShares Short-Term Corporate Bond ETF (IGSB). 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.
| BSBR | IGSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.96 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.47 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 3.11 | -2.64 |
| Martin ratioReturn relative to average drawdown | 1.10 | 12.72 | -11.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSBR | IGSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.37 | 2.38 | -2.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.07 | 0.84 | -0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.80 | -0.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.70 | -0.66 |
Drawdowns
BSBR vs. IGSB - Drawdown Comparison
The maximum BSBR drawdown since its inception was -69.38%, which is greater than IGSB's maximum drawdown of -13.38%. Use the drawdown chart below to compare losses from any high point for BSBR and IGSB.
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Drawdown Indicators
| BSBR | IGSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.38% | -13.38% | -56.00% |
Max Drawdown (1Y)Largest decline over 1 year | -25.23% | -1.46% | -23.77% |
Max Drawdown (3Y)Largest decline over 3 years | -39.50% | -1.46% | -38.04% |
Max Drawdown (5Y)Largest decline over 5 years | -45.26% | -9.46% | -35.80% |
Max Drawdown (10Y)Largest decline over 10 years | -69.38% | -13.38% | -56.00% |
Current DrawdownCurrent decline from peak | -35.78% | -0.24% | -35.54% |
Average DrawdownAverage peak-to-trough decline | -36.18% | -0.85% | -35.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.87% | 0.36% | +10.51% |
Volatility
BSBR vs. IGSB - Volatility Comparison
Banco Santander (Brasil) S.A. (BSBR) has a higher volatility of 9.89% compared to iShares Short-Term Corporate Bond ETF (IGSB) at 0.57%. This indicates that BSBR's price experiences larger fluctuations and is considered to be riskier than IGSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSBR | IGSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.89% | 0.57% | +9.32% |
Volatility (6M)Calculated over the trailing 6-month period | 26.15% | 1.41% | +24.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.79% | 1.93% | +30.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.18% | 2.93% | +31.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.16% | 3.46% | +37.70% |
Dividends
BSBR vs. IGSB - Dividend Comparison
BSBR's dividend yield for the trailing twelve months is around 8.06%, more than IGSB's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSBR Banco Santander (Brasil) S.A. | 8.06% | 5.38% | 7.86% | 5.09% | 8.09% | 9.57% | 7.56% | 4.41% | 6.07% | 2.52% | 2.27% | 6.91% |
IGSB iShares Short-Term Corporate Bond ETF | 4.57% | 4.44% | 4.02% | 3.26% | 2.07% | 1.82% | 2.36% | 3.06% | 2.46% | 1.65% | 1.45% | 1.18% |
Frequently Asked Questions
BSBR and IGSB have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSBR has higher volatility (9.89%) compared to IGSB (0.57%). In terms of maximum drawdown, BSBR dropped -69.38% vs IGSB's -13.38%.
IGSB currently has the higher Sharpe Ratio (2.38 vs 0.37), 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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