BSBR vs. ITUB
BSBR (Banco Santander (Brasil) S.A.) and ITUB (Itaú Unibanco Holding S.A.) are both stocks. Both operate in the Banks - Regional industry within the Financial Services sector. Over the past 10 years, BSBR returned 6.77%/yr vs 17.26%/yr for ITUB. A 0.79 correlation means they provide meaningful diversification when combined.
Performance
BSBR vs. ITUB - Performance Comparison
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Returns By Period
In the year-to-date period, BSBR achieves a -9.93% return, which is significantly lower than ITUB's 7.23% return. Over the past 10 years, BSBR has underperformed ITUB with an annualized return of 6.77%, while ITUB has yielded a comparatively higher 17.26% annualized return.
BSBR
- 1D
- -3.28%
- 1M
- -8.15%
- YTD
- -9.93%
- 6M
- -14.94%
- 1Y
- 8.32%
- 3Y*
- 2.09%
- 5Y*
- -2.69%
- 10Y*
- 6.77%
ITUB
- 1D
- -3.44%
- 1M
- -10.32%
- YTD
- 7.23%
- 6M
- 5.75%
- 1Y
- 29.89%
- 3Y*
- 26.47%
- 5Y*
- 22.32%
- 10Y*
- 17.26%
BSBR vs. ITUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSBR Banco Santander (Brasil) S.A. | -9.93% | 67.32% | -36.75% | 29.04% | 7.57% | -30.10% | -23.66% | 13.87% | 23.24% | 11.80% |
ITUB Itaú Unibanco Holding S.A. | 7.23% | 86.06% | -23.49% | 54.53% | 30.82% | -6.05% | -30.47% | 8.46% | 12.68% | 30.90% |
Correlation
The correlation between BSBR and ITUB is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2009 | 0.79 |
The correlation between BSBR and ITUB has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.
Fundamentals
BSBR:
$39.70B
ITUB:
$84.39B
BSBR:
$1.95
ITUB:
$4.00
BSBR:
2.72
ITUB:
1.90
BSBR:
0.21
ITUB:
0.19
BSBR:
0.22
ITUB:
0.23
BSBR:
0.31
ITUB:
0.39
BSBR:
$160.28B
ITUB:
$384.43B
BSBR:
$43.51B
ITUB:
$131.20B
BSBR:
$18.53B
ITUB:
$54.38B
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Return for Risk
BSBR vs. ITUB — Risk / Return Rank
BSBR
ITUB
BSBR vs. ITUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Santander (Brasil) S.A. (BSBR) and Itaú Unibanco Holding S.A. (ITUB). 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 | ITUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.18 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.33 | 1.51 | -1.18 |
| Martin ratioReturn relative to average drawdown | 0.78 | 4.00 | -3.23 |
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 | ITUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.97 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | 0.66 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.45 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.33 | -0.29 |
Drawdowns
BSBR vs. ITUB - Drawdown Comparison
The maximum BSBR drawdown since its inception was -69.38%, roughly equal to the maximum ITUB drawdown of -69.35%. Use the drawdown chart below to compare losses from any high point for BSBR and ITUB.
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Drawdown Indicators
| BSBR | ITUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.38% | -69.35% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -25.23% | -19.84% | -5.39% |
Max Drawdown (3Y)Largest decline over 3 years | -39.50% | -28.17% | -11.33% |
Max Drawdown (5Y)Largest decline over 5 years | -45.26% | -31.59% | -13.67% |
Max Drawdown (10Y)Largest decline over 10 years | -69.38% | -61.96% | -7.42% |
Current DrawdownCurrent decline from peak | -36.38% | -19.84% | -16.54% |
Average DrawdownAverage peak-to-trough decline | -36.18% | -21.02% | -15.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.77% | 7.49% | +3.28% |
Volatility
BSBR vs. ITUB - Volatility Comparison
Banco Santander (Brasil) S.A. (BSBR) and Itaú Unibanco Holding S.A. (ITUB) have volatilities of 9.96% and 9.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSBR | ITUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.96% | 9.86% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 26.29% | 25.73% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.81% | 30.82% | +1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.25% | 33.92% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.16% | 38.50% | +2.66% |
Dividends
BSBR vs. ITUB - Dividend Comparison
BSBR's dividend yield for the trailing twelve months is around 8.13%, less than ITUB's 8.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSBR Banco Santander (Brasil) S.A. | 8.13% | 5.38% | 7.86% | 5.09% | 8.09% | 9.57% | 7.56% | 4.41% | 6.07% | 2.52% | 2.27% | 6.91% |
ITUB Itaú Unibanco Holding S.A. | 8.40% | 11.26% | 9.20% | 3.61% | 4.21% | 29.81% | 4.80% | 8.21% | 6.93% | 3.35% | 15.63% | 3.89% |
Financials
BSBR vs. ITUB - Financials Comparison
This section allows you to compare key financial metrics between Banco Santander (Brasil) S.A. and Itaú Unibanco Holding 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
BSBR vs. ITUB - Profitability Comparison
BSBR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Banco Santander (Brasil) S.A. reported a gross profit of 10.77B and revenue of 38.36B. Therefore, the gross margin over that period was 28.1%.
ITUB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Itaú Unibanco Holding S.A. reported a gross profit of 32.47B and revenue of 94.91B. Therefore, the gross margin over that period was 34.2%.
BSBR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Banco Santander (Brasil) S.A. reported an operating income of 4.71B and revenue of 38.36B, resulting in an operating margin of 12.3%.
ITUB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Itaú Unibanco Holding S.A. reported an operating income of 12.47B and revenue of 94.91B, resulting in an operating margin of 13.1%.
BSBR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Banco Santander (Brasil) S.A. reported a net income of 3.22B and revenue of 38.36B, resulting in a net margin of 8.4%.
ITUB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Itaú Unibanco Holding S.A. reported a net income of 11.42B and revenue of 94.91B, resulting in a net margin of 12.0%.
Frequently Asked Questions
BSBR and ITUB have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BSBR has higher volatility (9.96%) compared to ITUB (9.86%). In terms of maximum drawdown, BSBR dropped -69.38% vs ITUB's -69.35%.
ITUB currently has the higher Sharpe Ratio (0.97 vs 0.26), 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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