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REFAvsHEFAETF Comparison

ETF 1

REFA

Columbia Research Enhanced International Equity ETF

This fund is part of

DM Large & Mid Cap

+1.16%

Full REFA fund page

VS

ETF 2

HEFA

iShares Currency Hedged MSCI EAFE ETF

This fund is part of

DM Large & Mid Cap

+1.16%

Full HEFA fund page

Columbia Research Enhanced International Equity ETF (REFA) and iShares Currency Hedged MSCI EAFE ETF (HEFA) belong to the same industry segment: DM Large & Mid Cap. REFA's top 3 sector exposures are Industrials, Financials and Health Care. In contrast, HEFA's top sector exposures are Financials, Industrials and Information Technology. REFA is less expensive with a Total Expense Ratio (TER) of 0.32%, versus 0.7% for HEFA. REFA is up 9.22% year-to-date (YTD) with +$3K in YTD flows. HEFA performs better with 11.42% YTD performance, and -$236M in YTD flows. Run a side-by-side ETF comparison of REFA and HEFA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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REFA vs HEFA performance and flow charts

Performance

Cumulative Flows

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Data Services

Historic performance and flows

Data as of 06/12/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	REFA HEFA	+2.40%+3.49%	+5.89%+8.34%	+9.22%+11.42%	n/a+25.36%	n/a+65.28%	n/a+86.61%
Flows	REFA HEFA	--$106M	+$3K-$227M	+$3K-$236M	--$530M	-+$1.38B	-+$2.38B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	REFA HEFA	+17.79%+17.56%	n/a+12.99%	n/a+13.52%	n/a+13.95%
Max drawdown	REFA HEFA	-4.13%-4.59%	n/a-9.45%	n/a-14.34%	n/a-14.65%
Max drawdown duration	REFA HEFA	53d14d	n/a84d	n/a65d	n/a381d

Trading data

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	REFA	HEFA
Last sale 6/15/2026 at 2:57 PM		$46.39
Previous close 06/12/2026		$46.06
Consolidated volume 06/12/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of May 29, 2026

1-year trailing difference

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	REFA	HEFA
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 6/15/2026 at 2:57 PM

Live

Closed

	REFA	HEFA
Last price	–	$46.39
1D performance	–	+0.71%
AuM	$5.60 M	$7.20 B
E/R	0.32%	0.7%

Characteristics

	REFA	HEFA
Management strategy	Passive	Passive
Provider	Columbia Threadneedle Investments	iShares
Benchmark	Beta Advantage Research Enhanced International Equity Index	MSCI EAFE Index
N° of holdings	180	651
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	December 11, 2025	January 31, 2014
ESG	No	No

More REFA data on Trackinsight

More HEFA data on Trackinsight

Exposure

Countries

REFA

Japan

23.15%

United Kingdom

15.37%

Germany

8.78%

France

8.72%

Australia

8.2%

Other

35.78%

HEFA

Japan

22.9%

United Kingdom

14.39%

Switzerland

9.3%

France

9.11%

Germany

9.02%

Other

35.27%

Sectors

REFA

Industrials

22.46%

Financials

18.23%

Health Care

9.98%

Materials

8.63%

Other

40.7%

HEFA

Financials

23.82%

Industrials

18.8%

Information Techn.

9.46%

Consumer Discreti.

8.19%

Health Care

7.4%

Other

32.33%

Diversification

REFA

Total weight of top 15 holdings out of 15

32.32%

HEFA

Total weight of top 15 holdings out of 15

17.65%

Top 15 holdings

Data as of April 30, 2026

REFA

ASML HOLDING

5.28%

BHP GROUP LTD

3.45%

NOVARTIS

3.24%

HITACHI

2.48%

SHELL PLC

2.14%

ASTRAZENECA

2.06%

SIEMENS ENERGY AG

2.05%

SONY GROUP CORPORATION

2.03%

MITSUBISHI

1.67%

DEUTSCHE TELEKOM AG

1.48%

SAFRAN

1.41%

BNP PARIBAS

1.31%

RECRUIT HLDGS CO LTD

1.27%

TOKIO MARINE HOLDINGS

1.25%

BRITISH AMERICAN TOBACCO

1.20%

HEFA

ASML HOLDING

2.58%

HSBC HOLDINGS

1.46%

ASTRAZENECA

1.36%

CH1499059983

1.33%

NOVARTIS

1.31%

NESTLE SA

1.21%

SHELL PLC

1.19%

SIEMENS

1.04%

COMMONWEALTH BANK OF AUSTRALIA

0.97%

MITSUBISHI UFJ FINANCIAL GROUP

0.94%

BHP GROUP LTD

0.91%

TOTALENERGIES SE

0.86%

TOYOTA

0.85%

BANCO SANTANDER SA

0.83%

SAP SE

0.83%

Frequently asked questions about REFA and HEFA

REFAvsHEFAETF Comparison

Columbia Research Enhanced International Equity ETF

iShares Currency Hedged MSCI EAFE ETF

REFA vs HEFA performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the REFA and HEFA ETFs performed in 2026?

As of June 12, 2026, REFA is up 9.22% year-to-date (YTD), while HEFA has returned 11.42%. That puts HEFA better performer ahead so far this year.

Which ETF is attracting more investor money: REFA or HEFA?

Year-to-date, the REFA ETF saw +$3K in flows, compared to -$236M for HEFA.

Which ETF is bigger: REFA or HEFA?

As of June 12, 2026, REFA holds $5.60 M in assets under management (AUM), while HEFA manages $7.20 B.

What sectors do the REFA and HEFA ETFs invest in?

REFA leans toward sectors like Industrials, Financials and Health Care. Meanwhile, HEFA focuses on Financials, Industrials and Information Technology.

What are the top holdings of the REFA ETF and HEFA ETF?

REFA top holdings include ASML HOLDING, BHP GROUP LTD and NOVARTIS. HEFA holds in its top three: ASML HOLDING, HSBC HOLDINGS and ASTRAZENECA.

Which ETF is more diversified: REFA or HEFA?

REFA holds 182 securities with 32.32% of its assets in the top 15. HEFA has 691 securities and a top 15 weight of 17.65%.

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