INEQ vs. REFA
INEQ (Columbia International Equity Income ETF) and REFA (Columbia Research Enhanced International Equity ETF) are both exchange-traded funds - INEQ is a Dividend fund actively managed by Columbia, while REFA is a Foreign Large Cap Equities fund tracking the Beta Advantage Research Enhanced International Equity Index. INEQ is actively managed, while REFA is passively managed. Their correlation of 0.87 means they have usually moved in the same direction. INEQ charges 0.45%/yr vs 0.32%/yr for REFA.
Performance
INEQ vs. REFA - Performance Comparison
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Returns By Period
In the year-to-date period, INEQ achieves a 12.10% return, which is significantly lower than REFA's 12.88% return.
INEQ
- 1D
- -0.61%
- 1M
- 4.84%
- 6M
- 7.09%
- YTD
- 12.10%
- 1Y
- 28.80%
- 3Y*
- 20.29%
- 5Y*
- 13.46%
- 10Y*
- 9.92%
- ALL TIME*
- 10.16%
REFA
- 1D
- -0.74%
- 1M
- 1.56%
- 6M
- 6.83%
- YTD
- 12.88%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $606.92K | $766.57K | $703.44K | |
| $388.62 | $35.60K | $14.13K |
INEQ vs. REFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
INEQ Columbia International Equity Income ETF | 12.10% | 2.34% |
REFA Columbia Research Enhanced International Equity ETF | 12.88% | 0.33% |
Correlation
The correlation between INEQ and REFA is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | 0.87 |
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Return for Risk
INEQ vs. REFA — Risk / Return Rank
INEQ
REFA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
INEQ vs. REFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia International Equity Income ETF (INEQ) 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.
| INEQ | REFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.38 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | — | — |
| Martin ratioReturn relative to average drawdown | 9.69 | — | — |
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Drawdowns
INEQ vs. REFA - Drawdown Comparison
The maximum INEQ drawdown since its inception was -41.71%, which is greater than REFA's maximum drawdown of -11.23%. Use the drawdown chart below to compare losses from any high point for INEQ and REFA.
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Drawdown Indicators
| INEQ | REFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.71% | -11.23% | -30.48% |
Max Drawdown (1Y)Largest decline over 1 year | -9.56% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -14.38% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | — | — |
Current DrawdownCurrent decline from peak | -0.61% | -0.74% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -7.00% | -2.62% | -4.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | — | — |
Volatility
INEQ vs. REFA - Volatility Comparison
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Volatility by Period
| INEQ | REFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.47% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.57% | 18.31% | -4.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.33% | 18.31% | -2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.37% | 18.31% | -1.94% |
INEQ vs. REFA - Expense Ratio Comparison
INEQ has a 0.45% expense ratio, which is higher than REFA's 0.32% expense ratio.
Dividends
INEQ vs. REFA - Dividend Comparison
INEQ's dividend yield for the trailing twelve months is around 9.31%, more than REFA's 0.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
INEQ Columbia International Equity Income ETF | 9.31% | 9.76% | 3.11% | 3.27% | 3.57% | 3.43% | 2.64% | 3.34% | 7.25% | 4.63% | 2.52% |
REFA Columbia Research Enhanced International Equity ETF | 0.03% | 0.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INEQ and REFA have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, REFA is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
REFA is cheaper with a 0.32% expense ratio, compared with 0.45% for INEQ.
INEQ has the higher dividend yield at 9.31%, compared with 0.03% for REFA.
INEQ is categorized as Dividend, while REFA is Foreign Large Cap Equities. Their fees differ too: 0.45% for INEQ and 0.32% for REFA.
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