ECH vs. SAN
ECH (iShares MSCI Chile ETF) is Foreign Large Cap Equities fund tracking the MSCI Chile Investable Market Index, while SAN (Banco Santander, S.A.) is a stock. Over the past 10 years, ECH returned 4.44%/yr vs 16.53%/yr for SAN. At a 0.46 correlation, their price movements are largely independent.
Performance
ECH vs. SAN - Performance Comparison
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Returns By Period
In the year-to-date period, ECH achieves a 2.23% return, which is significantly lower than SAN's 16.51% return. Over the past 10 years, ECH has underperformed SAN with an annualized return of 4.44%, while SAN has yielded a comparatively higher 16.53% annualized return.
ECH
- 1D
- -0.85%
- 1M
- 1.75%
- YTD
- 2.23%
- 6M
- 5.27%
- 1Y
- 36.61%
- 3Y*
- 14.33%
- 5Y*
- 12.22%
- 10Y*
- 4.44%
SAN
- 1D
- 1.28%
- 1M
- 9.05%
- YTD
- 16.51%
- 6M
- 16.81%
- 1Y
- 72.42%
- 3Y*
- 62.67%
- 5Y*
- 32.61%
- 10Y*
- 16.53%
ECH vs. SAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ECH iShares MSCI Chile ETF | 2.23% | 65.41% | -8.67% | 9.01% | 25.12% | -19.80% | -7.13% | -17.79% | -18.98% | 41.79% |
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 ECH and SAN is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007 | 0.46 |
The correlation between ECH and SAN has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.
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Return for Risk
ECH vs. SAN — Risk / Return Rank
ECH
SAN
ECH vs. SAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Chile ETF (ECH) 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.
| ECH | SAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.34 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 3.59 | -1.72 |
| Martin ratioReturn relative to average drawdown | 4.41 | 11.07 | -6.66 |
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Drawdowns
ECH vs. SAN - Drawdown Comparison
The maximum ECH drawdown since its inception was -74.08%, smaller than the maximum SAN drawdown of -82.94%. Use the drawdown chart below to compare losses from any high point for ECH and SAN.
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Drawdown Indicators
| ECH | SAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.08% | -82.94% | +8.86% |
Max Drawdown (1Y)Largest decline over 1 year | -19.74% | -20.29% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -25.59% | -20.29% | -5.30% |
Max Drawdown (5Y)Largest decline over 5 years | -25.59% | -41.13% | +15.54% |
Max Drawdown (10Y)Largest decline over 10 years | -66.89% | -73.84% | +6.95% |
Current DrawdownCurrent decline from peak | -24.03% | 0.00% | -24.03% |
Average DrawdownAverage peak-to-trough decline | -37.48% | -30.64% | -6.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.33% | 6.56% | +1.77% |
Volatility
ECH vs. SAN - Volatility Comparison
The current volatility for iShares MSCI Chile ETF (ECH) is 9.09%, while Banco Santander, S.A. (SAN) has a volatility of 10.69%. This indicates that ECH 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
| ECH | SAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.09% | 10.69% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 21.20% | 27.47% | -6.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.51% | 32.98% | -7.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.63% | 33.88% | -6.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.27% | 35.83% | -8.56% |
Dividends
ECH vs. SAN - Dividend Comparison
ECH's dividend yield for the trailing twelve months is around 1.93%, less than SAN's 2.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECH iShares MSCI Chile ETF | 1.93% | 2.01% | 3.12% | 4.77% | 6.73% | 5.49% | 2.16% | 2.47% | 2.37% | 1.42% | 1.85% | 2.13% |
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% |
Frequently Asked Questions
ECH and SAN have a correlation of 0.52, 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 ECH (9.09%). In terms of maximum drawdown, ECH dropped -74.08% vs SAN's -82.94%.
SAN currently has the higher Sharpe Ratio (2.21 vs 1.44), 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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