SAN vs. ^IBEX

Last updated Apr 2, 2026

Compare and contrast key facts about Banco Santander, S.A. (SAN) and IBEX 35 Index (^IBEX).

Performance

SAN vs. ^IBEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Banco Santander, S.A. (SAN) and IBEX 35 Index (^IBEX). The values are adjusted to include any dividend payments, if applicable.

SAN vs. ^IBEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SAN Banco Santander, S.A.	-1.36%	164.72%	14.96%	46.20%	-6.62%	10.41%	-21.99%	-2.32%	-28.49%	32.28%
^IBEX IBEX 35 Index	0.27%	69.32%	7.68%	26.64%	-10.76%	0.04%	-7.97%	9.64%	-18.94%	22.59%

Different Trading Currencies

SAN is traded in USD, while ^IBEX is traded in EUR. To make them comparable, the ^IBEX values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SAN achieves a -1.36% return, which is significantly lower than ^IBEX's 0.27% return. Over the past 10 years, SAN has outperformed ^IBEX with an annualized return of 14.91%, while ^IBEX has yielded a comparatively lower 7.60% annualized return.

SAN

• 1D: 2.57%
• 1M: -3.26%
• YTD: -1.36%
• 6M: 12.49%
• 1Y: 75.62%
• 3Y*: 51.95%
• 5Y*: 32.18%
• 10Y*: 14.91%

^IBEX

• 1D: 3.49%
• 1M: -2.47%
• YTD: 0.27%
• 6M: 11.83%
• 1Y: 42.05%
• 3Y*: 26.75%
• 5Y*: 15.08%
• 10Y*: 7.60%

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

Return for Risk

SAN vs. ^IBEX — Risk / Return Rank

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

SAN

SAN Risk / Return Rank: 90
SAN Sharpe Ratio Rank: 92
SAN Sortino Ratio Rank: 87
SAN Omega Ratio Rank: 86
SAN Calmar Ratio Rank: 89
SAN Martin Ratio Rank: 92

^IBEX

^IBEX Risk / Return Rank: 94
^IBEX Sharpe Ratio Rank: 92
^IBEX Sortino Ratio Rank: 92
^IBEX Omega Ratio Rank: 93
^IBEX Calmar Ratio Rank: 97
^IBEX Martin Ratio Rank: 97

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.

SAN vs. ^IBEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Banco Santander, S.A. (SAN) and IBEX 35 Index (^IBEX). 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.

	SAN	^IBEX	Difference
Sharpe ratio Return per unit of total volatility	2.19	2.04	+0.15
Sortino ratio Return per unit of downside risk	2.65	2.56	+0.09
Omega ratio Gain probability vs. loss probability	1.36	1.38	-0.03
Calmar ratio Return relative to maximum drawdown	3.83	4.77	-0.94
Martin ratio Return relative to average drawdown	12.98	17.21	-4.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SAN vs. ^IBEX - Sharpe Ratio Comparison

The current SAN Sharpe Ratio is 2.19, which is comparable to the ^IBEX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of SAN and ^IBEX, 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

	SAN	^IBEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	2.04	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.76	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.36	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.02	+0.20

Correlation

The correlation between SAN and ^IBEX is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

SAN vs. ^IBEX - Drawdown Comparison

The maximum SAN drawdown since its inception was -82.94%, which is greater than ^IBEX's maximum drawdown of -71.44%. Use the drawdown chart below to compare losses from any high point for SAN and ^IBEX.

Drawdown Indicators

	SAN	^IBEX	Difference
Max Drawdown Largest peak-to-trough decline	-82.94%	-62.65%	-20.29%
Max Drawdown (1Y) Largest decline over 1 year	-20.29%	-11.72%	-8.57%
Max Drawdown (5Y) Largest decline over 5 years	-44.15%	-21.76%	-22.39%
Max Drawdown (10Y) Largest decline over 10 years	-73.84%	-45.16%	-28.68%
Current Drawdown Current decline from peak	-12.41%	-4.95%	-7.46%
Average Drawdown Average peak-to-trough decline	-30.78%	-28.45%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.99%	2.66%	+3.33%

Volatility

SAN vs. ^IBEX - Volatility Comparison

Banco Santander, S.A. (SAN) has a higher volatility of 13.48% compared to IBEX 35 Index (^IBEX) at 7.20%. This indicates that SAN's price experiences larger fluctuations and is considered to be riskier than ^IBEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAN	^IBEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.48%	7.20%	+6.28%
Volatility (6M) Calculated over the trailing 6-month period	25.20%	13.24%	+11.96%
Volatility (1Y) Calculated over the trailing 1-year period	34.71%	20.19%	+14.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.46%	19.47%	+13.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.93%	20.71%	+15.22%