ICAGY vs. SAN

Last updated Apr 1, 2026

Compare and contrast key facts about International Consolidated Airlines Group, S.A. (ICAGY) and Banco Santander, S.A. (SAN).

Performance

ICAGY vs. SAN - Performance Comparison

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

ICAGY vs. SAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICAGY International Consolidated Airlines Group, S.A.	-13.52%	49.77%	97.26%	32.88%	-23.36%	-12.61%	-68.67%	18.14%	-8.00%	66.87%
SAN Banco Santander, S.A.	-3.84%	164.72%	14.96%	46.20%	-6.62%	10.41%	-21.99%	-2.32%	-28.49%	32.28%

Fundamentals

Market Cap ICAGY : $23.75B SAN : $179.66B
EPS ICAGY : $1.94 SAN : $0.87
PE Ratio ICAGY : 4.91 SAN : 12.97
PEG Ratio ICAGY : 0.04 SAN : 0.70
PS Ratio ICAGY : 0.55 SAN : 2.34
PB Ratio ICAGY : 3.13 SAN : 1.74
Total Revenue (TTM) ICAGY : $42.41B SAN : $75.11B
Gross Profit (TTM) ICAGY : $9.69B SAN : $0.00
EBITDA (TTM) ICAGY : $9.31B SAN : $17.52B

Returns By Period

In the year-to-date period, ICAGY achieves a -13.52% return, which is significantly lower than SAN's -3.84% return. Over the past 10 years, ICAGY has underperformed SAN with an annualized return of -1.02%, while SAN has yielded a comparatively higher 14.62% annualized return.

ICAGY

• 1D: 4.27%
• 1M: -16.40%
• YTD: -13.52%
• 6M: -7.03%
• 1Y: 45.41%
• 3Y*: 39.01%
• 5Y*: 11.01%
• 10Y*: -1.02%

SAN

• 1D: 5.42%
• 1M: -8.74%
• YTD: -3.84%
• 6M: 9.04%
• 1Y: 73.26%
• 3Y*: 50.67%
• 5Y*: 31.51%
• 10Y*: 14.62%

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

Return for Risk

ICAGY vs. SAN — Risk / Return Rank

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

ICAGY

ICAGY Risk / Return Rank: 75
ICAGY Sharpe Ratio Rank: 80
ICAGY Sortino Ratio Rank: 74
ICAGY Omega Ratio Rank: 73
ICAGY Calmar Ratio Rank: 70
ICAGY Martin Ratio Rank: 77

SAN

SAN Risk / Return Rank: 90
SAN Sharpe Ratio Rank: 92
SAN Sortino Ratio Rank: 88
SAN Omega Ratio Rank: 87
SAN Calmar Ratio Rank: 89
SAN Martin Ratio Rank: 92

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. SAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for International Consolidated Airlines Group, S.A. (ICAGY) 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.

	ICAGY	SAN	Difference
Sharpe ratio Return per unit of total volatility	1.25	2.13	-0.88
Sortino ratio Return per unit of downside risk	1.77	2.60	-0.82
Omega ratio Gain probability vs. loss probability	1.23	1.35	-0.11
Calmar ratio Return relative to maximum drawdown	1.43	3.50	-2.06
Martin ratio Return relative to average drawdown	4.94	11.96	-7.02
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. SAN - Sharpe Ratio Comparison

The current ICAGY Sharpe Ratio is 1.25, which is lower than the SAN Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of ICAGY and SAN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ICAGY	SAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	2.13	-0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.95	-0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.02	0.41	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.22	-0.15

Correlation

The correlation between ICAGY and SAN is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ICAGY vs. SAN - Dividend Comparison

ICAGY's dividend yield for the trailing twelve months is around 2.63%, more than SAN's 2.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICAGY International Consolidated Airlines Group, S.A.	2.63%	2.27%	0.89%	0.00%	0.00%	0.00%	15.07%	7.56%	3.77%	2.45%	1.86%	1.23%
SAN Banco Santander, S.A.	2.19%	2.11%	4.63%	3.58%	3.83%	2.71%	0.00%	6.20%	5.83%	4.60%	3.29%	7.06%

Drawdowns

ICAGY vs. SAN - Drawdown Comparison

The maximum ICAGY drawdown since its inception was -85.75%, roughly equal to the maximum SAN drawdown of -82.94%. Use the drawdown chart below to compare losses from any high point for ICAGY and SAN.

Drawdown Indicators

	ICAGY	SAN	Difference
Max Drawdown Largest peak-to-trough decline	-85.75%	-82.94%	-2.81%
Max Drawdown (1Y) Largest decline over 1 year	-25.39%	-20.29%	-5.10%
Max Drawdown (5Y) Largest decline over 5 years	-65.66%	-44.15%	-21.51%
Max Drawdown (10Y) Largest decline over 10 years	-85.75%	-73.84%	-11.91%
Current Drawdown Current decline from peak	-32.56%	-14.61%	-17.95%
Average Drawdown Average peak-to-trough decline	-37.03%	-30.78%	-6.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.37%	5.93%	+1.44%

Volatility

ICAGY vs. SAN - Volatility Comparison

The current volatility for International Consolidated Airlines Group, S.A. (ICAGY) is 12.90%, while Banco Santander, S.A. (SAN) has a volatility of 15.59%. This indicates that ICAGY 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.

Volatility by Period

	ICAGY	SAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.90%	15.59%	-2.69%
Volatility (6M) Calculated over the trailing 6-month period	26.03%	25.14%	+0.89%
Volatility (1Y) Calculated over the trailing 1-year period	37.06%	34.66%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.05%	33.45%	+6.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.05%	35.93%	+11.12%

Financials