REFA vs. CRUX

Last updated Jul 4, 2026

REFA (Columbia Research Enhanced International Equity ETF) and CRUX (Columbia Core Bond ETF) are both exchange-traded funds - REFA is a Foreign Large Cap Equities fund tracking the Beta Advantage Research Enhanced International Equity Index, while CRUX is a Intermediate Core Bond fund actively managed by Columbia Threadneedle. REFA is passively managed, while CRUX is actively managed. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.32% expense ratio.

Performance

REFA vs. CRUX - Performance Comparison

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

Returns By Period

REFA

• 1D: 1.35%
• 1M: 2.81%
• 6M: 9.75%
• YTD: 11.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CRUX

• 1D: 0.03%
• 1M: 0.43%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

REFA vs. CRUX - Yearly Performance Comparison

	2026 (YTD)
REFA Columbia Research Enhanced International Equity ETF	9.01%
CRUX Columbia Core Bond ETF	0.42%

Correlation

The correlation between REFA and CRUX is 0.62, 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	0.62

Return for Risk

REFA vs. CRUX - Risk-Adjusted Trends Comparison

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

REFA vs. CRUX - Drawdown Comparison

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

Drawdown Indicators

	REFA	CRUX	Difference
Max Drawdown Largest peak-to-trough decline	-11.23%	-1.85%	-9.38%
Current Drawdown Current decline from peak	-0.36%	-0.57%	+0.21%
Average Drawdown Average peak-to-trough decline	-2.79%	-0.56%	-2.23%

Volatility

Volatility by Period

	REFA	CRUX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	18.61%	4.08%	+14.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.61%	4.08%	+14.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.61%	4.08%	+14.53%

REFA vs. CRUX - Expense Ratio Comparison

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

Dividends

REFA vs. CRUX - Dividend Comparison

REFA's dividend yield for the trailing twelve months is around 0.03%, less than CRUX's 1.39% yield.

Position	TTM	2025
CRUX Columbia Core Bond ETF	1.39%	0.00%
REFA Columbia Research Enhanced International Equity ETF	0.03%	0.03%

Frequently Asked Questions

Can I hold both REFA and CRUX in my portfolio?

REFA and CRUX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, REFA or CRUX?

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, REFA or CRUX?

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

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

CRUX has the higher dividend yield at 1.39%, compared with 0.03% for REFA.

What is the main difference between REFA and CRUX?

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