ISNPY vs. SAN

Last updated Jun 4, 2026

ISNPY (Intesa Sanpaolo SpA PK) and SAN (Banco Santander, S.A.) are both stocks. Both are in the Financial Services sector — ISNPY in Banks - Regional, SAN in Banks - Diversified. Over the past 10 years, ISNPY returned 17.57%/yr vs 14.86%/yr for SAN. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

ISNPY vs. SAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intesa Sanpaolo SpA PK (ISNPY) and Banco Santander, S.A. (SAN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISNPY achieves a -2.31% return, which is significantly lower than SAN's 4.95% return. Over the past 10 years, ISNPY has outperformed SAN with an annualized return of 17.57%, while SAN has yielded a comparatively lower 14.86% annualized return.

ISNPY

• 1D: -2.36%
• 1M: 2.80%
• YTD: -2.31%
• 6M: 3.72%
• 1Y: 25.02%
• 3Y*: 50.83%
• 5Y*: 26.83%
• 10Y*: 17.57%

SAN

• 1D: -2.01%
• 1M: 5.28%
• YTD: 4.95%
• 6M: 12.63%
• 1Y: 57.67%
• 3Y*: 58.16%
• 5Y*: 28.04%
• 10Y*: 14.86%

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

ISNPY vs. SAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISNPY Intesa Sanpaolo SpA PK	-2.31%	84.29%	50.22%	42.51%	-7.76%	19.59%	-10.04%	25.49%	-28.78%	47.09%
SAN Banco Santander, S.A.	4.95%	164.72%	14.96%	46.20%	-6.62%	10.41%	-21.99%	-2.32%	-28.49%	32.28%

Correlation

The correlation between ISNPY and SAN is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jul 16, 2007	0.66

The correlation between ISNPY and SAN shifts across timeframes, from 0.66 (all time) to 0.78 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ISNPY : $18.99B SAN : $178.48B
EPS ISNPY : $19.86 SAN : $1.06
PE Ratio ISNPY : 1.98 SAN : 11.45
PEG Ratio ISNPY : 0.01 SAN : 0.60
PS Ratio ISNPY : 0.72 SAN : 2.48
PB Ratio ISNPY : 0.32 SAN : 1.68
Total Revenue (TTM) ISNPY : $26.94B SAN : $74.92B
Gross Profit (TTM) ISNPY : $25.87B SAN : $46.97B
EBITDA (TTM) ISNPY : $14.31B SAN : $21.14B

Return for Risk

ISNPY vs. SAN — Risk / Return Rank

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

ISNPY

ISNPY Risk / Return Rank: 66
ISNPY Sharpe Ratio Rank: 70
ISNPY Sortino Ratio Rank: 64
ISNPY Omega Ratio Rank: 61
ISNPY Calmar Ratio Rank: 64
ISNPY Martin Ratio Rank: 70

SAN

SAN Risk / Return Rank: 82
SAN Sharpe Ratio Rank: 84
SAN Sortino Ratio Rank: 81
SAN Omega Ratio Rank: 77
SAN Calmar Ratio Rank: 81
SAN Martin Ratio Rank: 85

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.

ISNPY vs. SAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intesa Sanpaolo SpA PK (ISNPY) 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.

	ISNPY	SAN	Difference
Sharpe ratio Return per unit of total volatility	0.96	1.76	-0.80
Sortino ratio Return per unit of downside risk	1.44	2.40	-0.96
Omega ratio Gain probability vs. loss probability	1.17	1.29	-0.11
Calmar ratio Return relative to maximum drawdown	1.19	2.86	-1.67
Martin ratio Return relative to average drawdown	3.80	8.88	-5.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISNPY vs. SAN - Sharpe Ratio Comparison

The current ISNPY Sharpe Ratio is 0.96, which is lower than the SAN Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of ISNPY and SAN, 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

	ISNPY	SAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	1.76	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.84	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.42	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.23	-0.14

Drawdowns

ISNPY vs. SAN - Drawdown Comparison

The maximum ISNPY drawdown since its inception was -86.72%, roughly equal to the maximum SAN drawdown of -82.94%. Use the drawdown chart below to compare losses from any high point for ISNPY and SAN.

Drawdown Indicators

	ISNPY	SAN	Difference
Max Drawdown Largest peak-to-trough decline	-86.72%	-82.94%	-3.78%
Max Drawdown (1Y) Largest decline over 1 year	-21.14%	-20.29%	-0.85%
Max Drawdown (3Y) Largest decline over 3 years	-21.80%	-20.29%	-1.51%
Max Drawdown (5Y) Largest decline over 5 years	-49.54%	-43.63%	-5.91%
Max Drawdown (10Y) Largest decline over 10 years	-59.38%	-73.84%	+14.46%
Current Drawdown Current decline from peak	-6.58%	-6.81%	+0.23%
Average Drawdown Average peak-to-trough decline	-48.70%	-30.68%	-18.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.60%	6.51%	+0.09%

Volatility

ISNPY vs. SAN - Volatility Comparison

The current volatility for Intesa Sanpaolo SpA PK (ISNPY) is 8.82%, while Banco Santander, S.A. (SAN) has a volatility of 9.58%. This indicates that ISNPY 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

	ISNPY	SAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.82%	9.58%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	20.47%	26.67%	-6.20%
Volatility (1Y) Calculated over the trailing 1-year period	26.24%	32.93%	-6.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.41%	33.76%	-3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.31%	35.85%	-1.54%

Dividends

ISNPY vs. SAN - Dividend Comparison

ISNPY's dividend yield for the trailing twelve months is around 6.67%, more than SAN's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISNPY Intesa Sanpaolo SpA PK	6.67%	5.89%	8.50%	7.68%	7.25%	8.64%	0.00%	6.18%	8.14%	10.26%	4.41%	2.45%
SAN Banco Santander, S.A.	2.30%	2.11%	4.63%	3.58%	3.83%	2.71%	0.00%	6.20%	5.83%	4.60%	3.29%	7.06%

Financials

ISNPY vs. SAN - Profitability Comparison

The chart below illustrates the profitability comparison between Intesa Sanpaolo SpA PK and Banco Santander, S.A. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ISNPY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Intesa Sanpaolo SpA PK reported a gross profit of 8.47B and revenue of 10.99B. Therefore, the gross margin over that period was 77.1%.

SAN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported a gross profit of 12.95B and revenue of 31.44B. Therefore, the gross margin over that period was 41.2%.

ISNPY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Intesa Sanpaolo SpA PK reported an operating income of 4.21B and revenue of 10.99B, resulting in an operating margin of 38.3%.

SAN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported an operating income of 5.11B and revenue of 31.44B, resulting in an operating margin of 16.3%.

ISNPY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Intesa Sanpaolo SpA PK reported a net income of 2.81B and revenue of 10.99B, resulting in a net margin of 25.6%.

SAN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Banco Santander, S.A. reported a net income of 5.54B and revenue of 31.44B, resulting in a net margin of 17.6%.

Frequently Asked Questions

Can I hold both ISNPY and SAN in my portfolio?

ISNPY and SAN have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISNPY or SAN?

SAN has higher volatility (9.58%) compared to ISNPY (8.82%). In terms of maximum drawdown, ISNPY dropped -86.72% vs SAN's -82.94%.

Which has better risk-adjusted returns?

SAN currently has the higher Sharpe Ratio (1.76 vs 0.96), 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.