CRUX vs. REFA

Last updated Jul 18, 2026

CRUX (Columbia Core Bond ETF) and REFA (Columbia Research Enhanced International Equity ETF) are both exchange-traded funds - CRUX is a Intermediate Core Bond fund actively managed by Columbia Threadneedle, while REFA is a Foreign Large Cap Equities fund tracking the Beta Advantage Research Enhanced International Equity Index. CRUX is actively managed, while REFA is passively managed. A 0.63 correlation means they provide meaningful diversification when combined. Both charge a 0.32% expense ratio.

Performance

CRUX vs. REFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Core Bond ETF (CRUX) and Columbia Research Enhanced International Equity ETF (REFA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CRUX

• 1D: 0.08%
• 1M: -0.14%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

REFA

• 1D: -0.38%
• 1M: -0.31%
• 6M: 6.14%
• YTD: 10.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CRUX vs. REFA - Yearly Performance Comparison

	2026 (YTD)
CRUX Columbia Core Bond ETF	0.18%
REFA Columbia Research Enhanced International Equity ETF	7.98%

Correlation

The correlation between CRUX and REFA is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 16, 2026	0.63

Return for Risk

CRUX vs. REFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Core Bond ETF (CRUX) and Columbia Research Enhanced International Equity ETF (REFA). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

CRUX vs. REFA - Drawdown Comparison

The maximum CRUX drawdown since its inception was -1.85%, smaller than the maximum REFA drawdown of -11.23%. Use the drawdown chart below to compare losses from any high point for CRUX and REFA.

Drawdown Indicators

	CRUX	REFA	Difference
Max Drawdown Largest peak-to-trough decline	-1.85%	-11.23%	+9.38%
Current Drawdown Current decline from peak	-0.80%	-1.98%	+1.18%
Average Drawdown Average peak-to-trough decline	-0.60%	-2.70%	+2.10%

Volatility

Volatility by Period

	CRUX	REFA	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	18.32%	-14.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.98%	18.32%	-14.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.98%	18.32%	-14.34%

CRUX vs. REFA - Expense Ratio Comparison

Both CRUX and REFA have an expense ratio of 0.32%.

Dividends

CRUX vs. REFA - Dividend Comparison

CRUX's dividend yield for the trailing twelve months is around 1.40%, more than REFA's 0.03% yield.

Position	TTM	2025
CRUX Columbia Core Bond ETF	1.40%	0.00%
REFA Columbia Research Enhanced International Equity ETF	0.03%	0.03%

Frequently Asked Questions

Can I hold both CRUX and REFA in my portfolio?

CRUX and REFA have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CRUX or REFA?

Both ETFs have the same 0.32% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CRUX or REFA?

CRUX and REFA have the same expense ratio: 0.32% per year.

Which ETF pays a higher dividend yield, CRUX or REFA?

CRUX has the higher dividend yield at 1.40%, compared with 0.03% for REFA.

What is the main difference between CRUX and REFA?

CRUX is categorized as Intermediate Core Bond, while REFA is Foreign Large Cap Equities.