SAN vs. ETV
SAN (Banco Santander, S.A.) and ETV (Eaton Vance Tax-Managed Buy-Write Opportunities Fund) are both stocks. Both are in the Financial Services sector — SAN in Banks - Diversified, ETV in Asset Management. Over the past 10 years, SAN returned 16.53%/yr vs 9.42%/yr for ETV. At a 0.44 correlation, their price movements are largely independent.
Performance
SAN vs. ETV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SAN achieves a 16.51% return, which is significantly higher than ETV's 8.19% return. Over the past 10 years, SAN has outperformed ETV with an annualized return of 16.53%, while ETV has yielded a comparatively lower 9.42% annualized return.
SAN
- 1D
- 1.28%
- 1M
- 9.05%
- YTD
- 16.51%
- 6M
- 16.81%
- 1Y
- 72.42%
- 3Y*
- 62.67%
- 5Y*
- 32.61%
- 10Y*
- 16.53%
ETV
- 1D
- 1.29%
- 1M
- 2.81%
- YTD
- 8.19%
- 6M
- 8.26%
- 1Y
- 21.04%
- 3Y*
- 15.54%
- 5Y*
- 7.27%
- 10Y*
- 9.42%
SAN vs. ETV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SAN Banco Santander, S.A. | 16.51% | 164.72% | 14.96% | 46.20% | -6.62% | 10.41% | -21.99% | -2.32% | -28.49% | 32.28% |
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 8.19% | 8.63% | 27.67% | 9.94% | -19.73% | 18.41% | 13.03% | 21.25% | -4.29% | 12.98% |
Correlation
The correlation between SAN and ETV is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2005 | 0.44 |
The correlation between SAN and ETV shifts across timeframes, from 0.34 (3 years) to 0.46 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
SAN:
$198.15B
ETV:
$1.74B
SAN:
€1.06
ETV:
$4.95
SAN:
11.08
ETV:
3.01
SAN:
0.58
ETV:
0.10
SAN:
2.40
ETV:
5.73
SAN:
1.63
ETV:
0.95
SAN:
€74.92B
ETV:
$303.84M
SAN:
€46.97B
ETV:
$149.51M
SAN:
€21.14B
ETV:
$578.17M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SAN vs. ETV — Risk / Return Rank
SAN
ETV
SAN vs. ETV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Banco Santander, S.A. (SAN) and Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV). 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 | ETV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.30 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 2.04 | +1.54 |
| Martin ratioReturn relative to average drawdown | 11.07 | 10.40 | +0.67 |
Loading charts...
Drawdowns
SAN vs. ETV - Drawdown Comparison
The maximum SAN drawdown since its inception was -82.94%, which is greater than ETV's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for SAN and ETV.
Loading charts...
Drawdown Indicators
| SAN | ETV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.94% | -52.11% | -30.83% |
Max Drawdown (1Y)Largest decline over 1 year | -20.29% | -10.34% | -9.95% |
Max Drawdown (3Y)Largest decline over 3 years | -20.29% | -20.27% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -41.13% | -22.71% | -18.42% |
Max Drawdown (10Y)Largest decline over 10 years | -73.84% | -42.39% | -31.45% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -30.64% | -5.57% | -25.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.56% | 2.03% | +4.53% |
Volatility
SAN vs. ETV - Volatility Comparison
Banco Santander, S.A. (SAN) has a higher volatility of 10.69% compared to Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) at 3.62%. This indicates that SAN's price experiences larger fluctuations and is considered to be riskier than ETV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SAN | ETV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 3.62% | +7.07% |
Volatility (6M)Calculated over the trailing 6-month period | 27.47% | 10.25% | +17.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.98% | 12.46% | +20.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.88% | 16.90% | +16.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.83% | 19.29% | +16.54% |
Dividends
SAN vs. ETV - Dividend Comparison
SAN's dividend yield for the trailing twelve months is around 2.07%, less than ETV's 7.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETV Eaton Vance Tax-Managed Buy-Write Opportunities Fund | 7.99% | 8.30% | 8.18% | 9.24% | 10.57% | 7.94% | 8.66% | 8.89% | 9.86% | 8.65% | 8.96% | 8.69% |
SAN Banco Santander, S.A. | 2.07% | 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. ETV - Financials Comparison
This section allows you to compare key financial metrics between Banco Santander, S.A. and Eaton Vance Tax-Managed Buy-Write Opportunities Fund. 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
Frequently Asked Questions
SAN and ETV have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SAN has higher volatility (10.69%) compared to ETV (3.62%). In terms of maximum drawdown, SAN dropped -82.94% vs ETV's -52.11%.
SAN currently has the higher Sharpe Ratio (2.21 vs 1.70), 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.
Find the right allocation for SAN and ETV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer