ICAGY vs. BBVA

Last updated Jun 3, 2026

ICAGY (International Consolidated Airlines Group, S.A.) and BBVA (Banco Bilbao Vizcaya Argentaria, S.A.) are both stocks. ICAGY operates in Airlines (Industrials), while BBVA operates in Banks - Diversified (Financial Services). Over the past 10 years, ICAGY returned 0.92%/yr vs 20.21%/yr for BBVA. At a 0.46 correlation, their price movements are largely independent.

Performance

ICAGY vs. BBVA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in International Consolidated Airlines Group, S.A. (ICAGY) and Banco Bilbao Vizcaya Argentaria, S.A. (BBVA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICAGY achieves a 2.63% return, which is significantly lower than BBVA's 3.03% return. Over the past 10 years, ICAGY has underperformed BBVA with an annualized return of 0.92%, while BBVA has yielded a comparatively higher 20.21% annualized return.

ICAGY

• 1D: -0.18%
• 1M: 12.20%
• YTD: 2.63%
• 6M: 10.02%
• 1Y: 27.95%
• 3Y*: 44.49%
• 5Y*: 16.17%
• 10Y*: 0.92%

BBVA

• 1D: 0.52%
• 1M: 5.86%
• YTD: 3.03%
• 6M: 9.87%
• 1Y: 61.05%
• 3Y*: 58.32%
• 5Y*: 37.78%
• 10Y*: 20.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ICAGY vs. BBVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICAGY International Consolidated Airlines Group, S.A.	2.63%	49.77%	97.26%	32.88%	-23.36%	-12.61%	-68.67%	18.14%	-8.00%	66.87%
BBVA Banco Bilbao Vizcaya Argentaria, S.A.	3.03%	153.74%	14.20%	62.48%	10.09%	22.05%	-6.31%	11.07%	-35.01%	32.83%

Correlation

The correlation between ICAGY and BBVA is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 27, 2011	0.46

Fundamentals

Market Cap ICAGY : $28.18B BBVA : $131.80B
EPS ICAGY : $1.94 BBVA : $1.84
PE Ratio ICAGY : 5.82 BBVA : 12.63
PEG Ratio ICAGY : 0.05 BBVA : 0.46
PS Ratio ICAGY : 0.65 BBVA : 2.90
PB Ratio ICAGY : 3.72 BBVA : 2.34
Total Revenue (TTM) ICAGY : $42.41B BBVA : $47.06B
Gross Profit (TTM) ICAGY : $9.69B BBVA : $32.43B
EBITDA (TTM) ICAGY : $9.31B BBVA : $18.16B

Return for Risk

ICAGY vs. BBVA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ICAGY

ICAGY Risk / Return Rank: 63
ICAGY Sharpe Ratio Rank: 65
ICAGY Sortino Ratio Rank: 60
ICAGY Omega Ratio Rank: 58
ICAGY Calmar Ratio Rank: 66
ICAGY Martin Ratio Rank: 68

BBVA

BBVA Risk / Return Rank: 82
BBVA Sharpe Ratio Rank: 86
BBVA Sortino Ratio Rank: 81
BBVA Omega Ratio Rank: 80
BBVA Calmar Ratio Rank: 81
BBVA Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ICAGY vs. BBVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for International Consolidated Airlines Group, S.A. (ICAGY) and Banco Bilbao Vizcaya Argentaria, S.A. (BBVA). 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.

	ICAGY	BBVA	Difference
Sharpe ratio Return per unit of total volatility	0.77	1.85	-1.07
Sortino ratio Return per unit of downside risk	1.28	2.41	-1.13
Omega ratio Gain probability vs. loss probability	1.16	1.31	-0.15
Calmar ratio Return relative to maximum drawdown	1.30	2.83	-1.53
Martin ratio Return relative to average drawdown	3.51	7.59	-4.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICAGY vs. BBVA - Sharpe Ratio Comparison

The current ICAGY Sharpe Ratio is 0.77, which is lower than the BBVA Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of ICAGY and BBVA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ICAGY	BBVA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	1.85	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	1.13	-0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.02	0.56	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.27	-0.17

Drawdowns

ICAGY vs. BBVA - Drawdown Comparison

The maximum ICAGY drawdown since its inception was -85.75%, which is greater than BBVA's maximum drawdown of -78.31%. Use the drawdown chart below to compare losses from any high point for ICAGY and BBVA.

Drawdown Indicators

	ICAGY	BBVA	Difference
Max Drawdown Largest peak-to-trough decline	-85.75%	-78.31%	-7.44%
Max Drawdown (1Y) Largest decline over 1 year	-25.39%	-22.14%	-3.25%
Max Drawdown (3Y) Largest decline over 3 years	-37.07%	-22.14%	-14.93%
Max Drawdown (5Y) Largest decline over 5 years	-63.50%	-42.28%	-21.22%
Max Drawdown (10Y) Largest decline over 10 years	-85.75%	-69.63%	-16.12%
Current Drawdown Current decline from peak	-19.96%	-8.01%	-11.95%
Average Drawdown Average peak-to-trough decline	-36.90%	-29.09%	-7.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.38%	8.26%	+1.12%

Volatility

ICAGY vs. BBVA - Volatility Comparison

International Consolidated Airlines Group, S.A. (ICAGY) has a higher volatility of 14.70% compared to Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) at 10.49%. This indicates that ICAGY's price experiences larger fluctuations and is considered to be riskier than BBVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICAGY	BBVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.70%	10.49%	+4.21%
Volatility (6M) Calculated over the trailing 6-month period	28.92%	26.31%	+2.61%
Volatility (1Y) Calculated over the trailing 1-year period	36.56%	33.24%	+3.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.33%	33.49%	+6.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.31%	36.28%	+11.03%

Dividends

ICAGY vs. BBVA - Dividend Comparison

ICAGY's dividend yield for the trailing twelve months is around 2.21%, less than BBVA's 4.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBVA Banco Bilbao Vizcaya Argentaria, S.A.	4.65%	3.51%	7.71%	5.51%	6.29%	2.79%	3.50%	5.23%	5.75%	5.17%	6.02%	4.29%
ICAGY International Consolidated Airlines Group, S.A.	2.21%	2.27%	0.89%	0.00%	0.00%	0.00%	15.07%	7.56%	3.77%	2.45%	1.86%	1.23%

Financials

ICAGY vs. BBVA - Profitability Comparison

The chart below illustrates the profitability comparison between International Consolidated Airlines Group, S.A. and Banco Bilbao Vizcaya Argentaria, S.A. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ICAGY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, International Consolidated Airlines Group, S.A. reported a gross profit of 4.13B and revenue of 17.18B. Therefore, the gross margin over that period was 24.0%.

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%.

ICAGY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, International Consolidated Airlines Group, S.A. reported an operating income of 3.07B and revenue of 17.18B, resulting in an operating margin of 17.9%.

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%.

ICAGY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, International Consolidated Airlines Group, S.A. reported a net income of 2.03B and revenue of 17.18B, resulting in a net margin of 11.8%.

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%.

Frequently Asked Questions

Can I hold both ICAGY and BBVA in my portfolio?

ICAGY and BBVA have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICAGY or BBVA?

ICAGY has higher volatility (14.70%) compared to BBVA (10.49%). In terms of maximum drawdown, ICAGY dropped -85.75% vs BBVA's -78.31%.

Which has better risk-adjusted returns?

BBVA currently has the higher Sharpe Ratio (1.85 vs 0.77), 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.