REFAvsHEFAETF Comparison
ETF 1
REFA
Columbia Research Enhanced International Equity ETF
This fund is part of
DM Large & Mid Cap
+0.21%
VS
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. Both ETFs have the same top 3 sector exposures: Finance, Industrials and Technology. REFA is less expensive with a Total Expense Ratio (TER) of 0.32%, versus 0.7% for HEFA. REFA is up 10.48% year-to-date (YTD) with +$3K in YTD flows. HEFA performs better with 14.24% YTD performance, and +$66M 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
Historic performance and flows
Data as of 10/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | REFA HEFA | -1.56%-0.59% | +0.28%+0.13% | +10.48%+14.24% | n/a+17.15% | n/a+75.41% | n/a+86.07% |
| Flows | REFA HEFA | -+$109M | -+$58M | +$3K+$66M | -+$98M | -+$1.48B | -+$2.39B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | REFA HEFA | +10.05%+9.79% | n/a+13.14% | n/a+13.49% | n/a+13.94% |
| Max drawdown | REFA HEFA | -5.56%-4.23% | n/a-9.45% | n/a-14.34% | n/a-14.65% |
| Max drawdown duration | REFA HEFA | 64d76d | n/a84d | n/a65d | n/a381d |
Trading data
REFA | HEFA | |
Last sale 10/29/2026 at 1:30 PM | $46.84 | |
| Previous close 10/28/2026 | $46.61 | |
| Consolidated volume 10/28/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 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 | ||
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Main metrics
Last update 10/29/2026 at 1:30 PM
Live
Closed
REFA | HEFA | |
|---|---|---|
| Last price | – | $46.84 |
| 1D performance | – | +0.49% |
| AuM | $5.66 M | $7.58 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 | 211 | 2 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 11, 2025 | January 31, 2014 |
| ESG | No | No |
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Exposure
Countries
REFA
Japan
26.58%
United Kingdom
14.86%
France
8.26%
Germany
7.46%
Australia
7.41%
Switzerland
7.17%
Other
28.26%
HEFA
Japan
23.75%
United Kingdom
13.75%
Switzerland
9.84%
Germany
8.75%
France
8.7%
Other
35.2%
Sectors
REFA
Finance
25.42%
Industrials
16.45%
Technology
13.7%
Healthcare
12.32%
Non-Energy Materi.
7.91%
Other
24.2%
HEFA
Finance
27.69%
Industrials
15.81%
Technology
12.97%
Healthcare
9.69%
Consumer Non-Cycl.
7.96%
Non-Energy Materi.
7.03%
Other
18.84%
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Diversification
REFA
Total weight of top 15 holdings out of 15
33.33%
HEFA
Total weight of top 2 holdings out of 2
100.12%
Top 15 holdings
Data as of August 31, 2026
REFA
ASML Holding NV
3.63%
BHP Group Ltd.
3.23%
Roche Holding AG
3.19%
Novartis AG
2.81%
Hitachi Ltd.
2.54%
Recruit Holdings Co., Ltd.
2.34%
HSBC Holdings Plc
2.30%
Safran SA
1.85%
Advantest Corp.
1.84%
Tokyo Electron Ltd.
1.78%
Siemens Energy AG
1.75%
Shell Plc
1.66%
BNP Paribas SA
1.55%
Fast Retailing Co., Ltd.
1.51%
Deutsche Telekom AG
1.35%
HEFA
US4642874659
100.04%
BlackRock Cash Funds - Treasury
0.08%
Frequently asked questions about REFA and HEFA
How have the REFA and HEFA ETFs performed in 2026?
As of October 28, 2026, REFA is up 10.48% year-to-date (YTD), while HEFA has returned 14.24%. 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 +$66M for HEFA.
Which ETF is bigger: REFA or HEFA?
As of October 28, 2026, REFA holds $5.66 M in assets under management (AUM), while HEFA manages $7.58 B.
What sectors do the REFA and HEFA ETFs invest in?
REFA leans toward sectors like Finance, Industrials and Technology. Meanwhile, HEFA focuses on Finance, Industrials and Technology.
What are the top holdings of the REFA ETF and HEFA ETF?
REFA top holdings include ASML Holding NV, BHP Group Ltd. and Roche Holding AG. HEFA holds in its top three: US4642874659 and BlackRock Cash Funds - Treasury.
Which ETF is more diversified: REFA or HEFA?
REFA holds 211 securities with 33.33% of its assets in the top 15. HEFA has 658 securities and a top 15 weight of 100.12%.
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