Overall Spain is pretty balanced, but they have plenty of high-cargo ships and gold bonus abilities that make them perhaps slightly more to the treasure side than the French. Spain also got a weird 5 master distribution, with some ludicrous ones at the top along with a bunch of stinkers or mediocre 5’s. On the other hand the Pirates and French consistently got a lot of great (and somewhat similar) 5 masters.
For the love of Pirates CSG