SAN vs. BBVA
SAN (Banco Santander, S.A.) and BBVA (Banco Bilbao Vizcaya Argentaria, S.A.) are both stocks. Both operate in the Banks - Diversified industry within the Financial Services sector. Over the past 10 years, SAN returned 18.20%/yr vs 24.49%/yr for BBVA. Their 0.75 correlation means they have sometimes moved together and sometimes differently.
Performance
SAN vs. BBVA - Performance Comparison
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Returns By Period
In the year-to-date period, SAN achieves a 21.69% return, which is significantly lower than BBVA's 23.65% return. Over the past 10 years, SAN has underperformed BBVA with an annualized return of 18.20%, while BBVA has yielded a comparatively higher 24.49% annualized return.
SAN
- 1D
- -0.07%
- 1M
- 1.08%
- 6M
- 11.95%
- YTD
- 21.69%
- 1Y
- 72.15%
- 3Y*
- 58.91%
- 5Y*
- 35.69%
- 10Y*
- 18.20%
- ALL TIME*
- 8.56%
BBVA
- 1D
- 1.27%
- 1M
- 9.18%
- 6M
- 13.39%
- YTD
- 23.65%
- 1Y
- 76.22%
- 3Y*
- 63.12%
- 5Y*
- 43.04%
- 10Y*
- 24.49%
- ALL TIME*
- 10.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $36.31M | $33.97M | $36.07M | |
| $140.83M | $131.82M | $115.30M |
SAN vs. BBVA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAN Banco Santander, S.A. | 21.69% | 164.72% | 14.96% | 46.20% | -6.62% | 10.41% | -21.99% | -2.32% | -28.49% | 32.28% |
BBVA Banco Bilbao Vizcaya Argentaria, S.A. | 23.65% | 153.74% | 14.20% | 62.48% | 10.09% | 22.05% | -6.31% | 11.07% | -35.01% | 32.83% |
Correlation
The correlation between SAN and BBVA is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 1988 | 0.75 |
The correlation between SAN and BBVA has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.
Fundamentals
SAN:
$206.96B
BBVA:
$154.43B
SAN:
€1.03
BBVA:
€1.84
SAN:
11.91
BBVA:
13.22
SAN:
0.63
BBVA:
0.49
SAN:
2.08
BBVA:
3.04
SAN:
1.64
BBVA:
2.44
SAN:
€90.24B
BBVA:
€47.06B
SAN:
€47.15B
BBVA:
€32.43B
SAN:
€21.04B
BBVA:
€18.16B
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Return for Risk
SAN vs. BBVA — Risk / Return Rank
SAN
BBVA
SAN vs. BBVA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Santander, S.A. (SAN) 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.
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.
| SAN | BBVA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.36 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 3.43 | -0.06 |
| Martin ratioReturn relative to average drawdown | 10.31 | 9.01 | +1.30 |
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Drawdowns
SAN vs. BBVA - Drawdown Comparison
The maximum SAN drawdown since its inception was -82.94%, which is greater than BBVA's maximum drawdown of -78.31%. Use the drawdown chart below to compare losses from any high point for SAN and BBVA.
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Drawdown Indicators
| SAN | BBVA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.94% | -78.31% | -4.63% |
Max Drawdown (1Y)Largest decline over 1 year | -20.29% | -22.14% | +1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -20.29% | -22.14% | +1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -40.82% | -42.28% | +1.46% |
Max Drawdown (10Y)Largest decline over 10 years | -73.84% | -69.63% | -4.21% |
Current DrawdownCurrent decline from peak | -1.88% | 0.00% | -1.88% |
Average DrawdownAverage peak-to-trough decline | -30.56% | -28.99% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.61% | 8.40% | -1.79% |
Volatility
SAN vs. BBVA - Volatility Comparison
Banco Santander, S.A. (SAN) and Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) have volatilities of 11.68% and 11.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAN | BBVA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.68% | 11.35% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 28.90% | 28.12% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.58% | 34.35% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.91% | 33.60% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.13% | 35.73% | -0.60% |
Dividends
SAN vs. BBVA - Dividend Comparison
SAN's dividend yield for the trailing twelve months is around 1.98%, less than BBVA's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBVA Banco Bilbao Vizcaya Argentaria, S.A. | 3.87% | 3.51% | 7.71% | 5.51% | 6.29% | 2.79% | 3.50% | 5.23% | 5.75% | 5.17% | 6.02% | 4.29% |
SAN Banco Santander, S.A. | 1.98% | 2.11% | 4.63% | 3.58% | 3.83% | 2.71% | 0.00% | 6.20% | 5.83% | 4.60% | 3.29% | 7.06% |
Financials
SAN vs. BBVA - Financials Comparison
This section allows you to compare key financial metrics between Banco Santander, S.A. and Banco Bilbao Vizcaya Argentaria, S.A.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
SAN vs. BBVA - Profitability Comparison
SAN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Banco Santander, S.A. reported a gross profit of 13.41B and revenue of 33.48B. Therefore, the gross margin over that period was 40.1%.
BBVA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 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%.
SAN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Banco Santander, S.A. reported an operating income of 4.85B and revenue of 33.48B, resulting in an operating margin of 14.5%.
BBVA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 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%.
SAN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Banco Santander, S.A. reported a net income of 3.58B and revenue of 33.48B, resulting in a net margin of 10.7%.
BBVA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 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
SAN and BBVA have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAN has higher volatility (11.68%) compared to BBVA (11.35%). In terms of maximum drawdown, SAN dropped -82.94% vs BBVA's -78.31%.
BBVA currently has the higher Sharpe Ratio (2.26 vs 2.04), 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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