REFA vs. INEQ
REFA (Columbia Research Enhanced International Equity ETF) and INEQ (Columbia International Equity Income ETF) are both Foreign Large Cap Equities funds from Columbia Threadneedle. REFA is passively managed, while INEQ is actively managed. Their correlation of 0.87 suggests significant overlap in exposure. REFA charges 0.32%/yr vs 0.45%/yr for INEQ.
Performance
REFA vs. INEQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, REFA achieves a 11.14% return, which is significantly higher than INEQ's 6.93% return.
REFA
- 1D
- 1.35%
- 1M
- 2.81%
- 6M
- 9.75%
- YTD
- 11.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INEQ
- 1D
- 1.94%
- 1M
- -0.08%
- 6M
- 6.86%
- YTD
- 6.93%
- 1Y
- 21.47%
- 3Y*
- 18.85%
- 5Y*
- 12.23%
- 10Y*
- 9.78%
REFA vs. INEQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
REFA Columbia Research Enhanced International Equity ETF | 11.14% | 0.33% |
INEQ Columbia International Equity Income ETF | 6.93% | 2.34% |
Correlation
The correlation between REFA and INEQ is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025 | 0.87 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
REFA vs. INEQ — Risk / Return Rank
REFA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
INEQ
REFA vs. INEQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Research Enhanced International Equity ETF (REFA) and Columbia International Equity Income ETF (INEQ). 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.
| REFA | INEQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.28 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.21 | — |
| Martin ratioReturn relative to average drawdown | — | 7.23 | — |
Loading charts...
Drawdowns
REFA vs. INEQ - Drawdown Comparison
The maximum REFA drawdown since its inception was -11.23%, smaller than the maximum INEQ drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for REFA and INEQ.
Loading charts...
Drawdown Indicators
| REFA | INEQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.23% | -41.71% | +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 | -0.36% | -3.85% | +3.49% |
Average DrawdownAverage peak-to-trough decline | -2.79% | -7.04% | +4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.92% | — |
Volatility
REFA vs. INEQ - Volatility Comparison
Loading charts...
Volatility by Period
| REFA | INEQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.34% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.21% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.61% | 13.72% | +4.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.61% | 15.34% | +3.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.61% | 16.34% | +2.27% |
REFA vs. INEQ - Expense Ratio Comparison
REFA has a 0.32% expense ratio, which is lower than INEQ's 0.45% expense ratio.
Dividends
REFA vs. INEQ - Dividend Comparison
REFA's dividend yield for the trailing twelve months is around 0.03%, less than INEQ's 9.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
INEQ Columbia International Equity Income ETF | 9.76% | 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
REFA and INEQ 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 9.76%, compared with 0.03% for REFA.
Their fees differ too: 0.32% for REFA and 0.45% for INEQ.
Find the right allocation for REFA and INEQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer