SAN vs. NVDY

Last updated Jun 4, 2026

SAN (Banco Santander, S.A.) is a stock, while NVDY (YieldMax NVDA Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax. Over the past 3 years, SAN returned 58.16%/yr vs 54.54%/yr for NVDY. At a 0.24 correlation, their price movements are largely independent.

Performance

SAN vs. NVDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Banco Santander, S.A. (SAN) and YieldMax NVDA Option Income Strategy ETF (NVDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAN achieves a 4.95% return, which is significantly lower than NVDY's 13.06% return.

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%

NVDY

• 1D: -2.22%
• 1M: 5.54%
• YTD: 13.06%
• 6M: 17.67%
• 1Y: 46.64%
• 3Y*: 54.54%
• 5Y*: —
• 10Y*: —

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

SAN vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SAN Banco Santander, S.A.	4.95%	164.72%	14.96%	24.60%
NVDY YieldMax NVDA Option Income Strategy ETF	13.06%	27.38%	114.23%	42.02%

Correlation

The correlation between SAN and NVDY is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since May 12, 2023	0.24

The correlation between SAN and NVDY shifts across timeframes, from 0.24 (3 years) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SAN vs. NVDY — Risk / Return Rank

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

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

NVDY

NVDY Risk / Return Rank: 52
NVDY Sharpe Ratio Rank: 49
NVDY Sortino Ratio Rank: 45
NVDY Omega Ratio Rank: 44
NVDY Calmar Ratio Rank: 72
NVDY Martin Ratio Rank: 52

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. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Banco Santander, S.A. (SAN) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.72	+0.05
Sortino ratio: Return per unit of downside risk	2.40	2.29	+0.11
Omega ratio: Gain probability vs. loss probability	1.29	1.29	0.00
Calmar ratio: Return relative to maximum drawdown	2.86	3.66	-0.80
Martin ratio: Return relative to average drawdown	8.88	9.00	-0.12
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. NVDY - Sharpe Ratio Comparison

The current SAN Sharpe Ratio is 1.76, which is comparable to the NVDY Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of SAN and NVDY, 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

	SAN	NVDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	1.72	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.64	-1.41

Drawdowns

SAN vs. NVDY - Drawdown Comparison

The maximum SAN drawdown since its inception was -82.94%, which is greater than NVDY's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for SAN and NVDY.

Drawdown Indicators

	SAN	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-82.94%	-34.08%	-48.86%
Max Drawdown (1Y) Largest decline over 1 year	-20.29%	-12.81%	-7.48%
Max Drawdown (3Y) Largest decline over 3 years	-20.29%	-34.08%	+13.79%
Max Drawdown (5Y) Largest decline over 5 years	-43.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.84%	—	—
Current Drawdown Current decline from peak	-6.81%	-6.66%	-0.15%
Average Drawdown Average peak-to-trough decline	-30.68%	-6.15%	-24.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.51%	5.20%	+1.31%

Volatility

SAN vs. NVDY - Volatility Comparison

Banco Santander, S.A. (SAN) and YieldMax NVDA Option Income Strategy ETF (NVDY) have volatilities of 9.58% and 9.46%, 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.

Volatility by Period

	SAN	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.58%	9.46%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	26.67%	20.68%	+5.99%
Volatility (1Y) Calculated over the trailing 1-year period	32.93%	27.35%	+5.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.76%	38.24%	-4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.85%	38.24%	-2.39%

Dividends

SAN vs. NVDY - Dividend Comparison

SAN's dividend yield for the trailing twelve months is around 2.30%, less than NVDY's 61.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVDY YieldMax NVDA Option Income Strategy ETF	61.36%	83.10%	83.65%	22.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both SAN and NVDY in my portfolio?

SAN and NVDY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAN or NVDY?

SAN has higher volatility (9.58%) compared to NVDY (9.46%). In terms of maximum drawdown, SAN dropped -82.94% vs NVDY's -34.08%.

Which has better risk-adjusted returns?

SAN currently has the higher Sharpe Ratio (1.76 vs 1.72), 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.