SAN vs. QQQ

Last updated Apr 1, 2026

Compare and contrast key facts about Banco Santander, S.A. (SAN) and Invesco QQQ ETF (QQQ).

QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999.

Performance

SAN vs. QQQ - Performance Comparison

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

SAN vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SAN Banco Santander, S.A.	-3.84%	164.72%	14.96%	46.20%	-6.62%	10.41%	-21.99%	-2.32%	-28.49%	32.28%
QQQ Invesco QQQ ETF	-5.93%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Returns By Period

In the year-to-date period, SAN achieves a -3.84% return, which is significantly higher than QQQ's -5.93% return. Over the past 10 years, SAN has underperformed QQQ with an annualized return of 14.62%, while QQQ has yielded a comparatively higher 18.85% annualized return.

SAN

• 1D: 5.42%
• 1M: -8.74%
• YTD: -3.84%
• 6M: 9.04%
• 1Y: 73.26%
• 3Y*: 50.67%
• 5Y*: 31.51%
• 10Y*: 14.62%

QQQ

• 1D: 3.39%
• 1M: -4.84%
• YTD: -5.93%
• 6M: -3.62%
• 1Y: 23.68%
• 3Y*: 22.32%
• 5Y*: 12.88%
• 10Y*: 18.85%

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

Return for Risk

SAN vs. QQQ — 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: 88
SAN Omega Ratio Rank: 87
SAN Calmar Ratio Rank: 89
SAN Martin Ratio Rank: 92

QQQ

QQQ Risk / Return Rank: 69
QQQ Sharpe Ratio Rank: 63
QQQ Sortino Ratio Rank: 68
QQQ Omega Ratio Rank: 67
QQQ Calmar Ratio Rank: 76
QQQ Martin Ratio Rank: 73

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Banco Santander, S.A. (SAN) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio Return per unit of total volatility	2.13	1.05	+1.08
Sortino ratio Return per unit of downside risk	2.60	1.63	+0.96
Omega ratio Gain probability vs. loss probability	1.35	1.23	+0.11
Calmar ratio Return relative to maximum drawdown	3.50	1.88	+1.62
Martin ratio Return relative to average drawdown	11.96	6.95	+5.01
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. QQQ - Sharpe Ratio Comparison

The current SAN Sharpe Ratio is 2.13, which is higher than the QQQ Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of SAN and QQQ, 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	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	1.05	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	0.58	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.85	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.37	-0.15

Correlation

The correlation between SAN and QQQ is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SAN vs. QQQ - Dividend Comparison

SAN's dividend yield for the trailing twelve months is around 2.19%, more than QQQ's 0.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SAN Banco Santander, S.A.	2.19%	2.11%	4.63%	3.58%	3.83%	2.71%	0.00%	6.20%	5.83%	4.60%	3.29%	7.06%
QQQ Invesco QQQ ETF	0.49%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Drawdowns

SAN vs. QQQ - Drawdown Comparison

The maximum SAN drawdown since its inception was -82.94%, roughly equal to the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SAN and QQQ.

Drawdown Indicators

	SAN	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-82.94%	-82.97%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	-20.29%	-12.62%	-7.67%
Max Drawdown (5Y) Largest decline over 5 years	-44.15%	-35.12%	-9.03%
Max Drawdown (10Y) Largest decline over 10 years	-73.84%	-35.12%	-38.72%
Current Drawdown Current decline from peak	-14.61%	-8.98%	-5.63%
Average Drawdown Average peak-to-trough decline	-30.78%	-32.99%	+2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.93%	3.41%	+2.52%

Volatility

SAN vs. QQQ - Volatility Comparison

Banco Santander, S.A. (SAN) has a higher volatility of 15.59% compared to Invesco QQQ ETF (QQQ) at 6.51%. This indicates that SAN's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAN	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.59%	6.51%	+9.08%
Volatility (6M) Calculated over the trailing 6-month period	25.14%	12.77%	+12.37%
Volatility (1Y) Calculated over the trailing 1-year period	34.66%	22.67%	+11.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.45%	22.39%	+11.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.93%	22.25%	+13.68%