RESM vs. REFA

Last updated Jul 4, 2026

RESM (Columbia Research Enhanced Small Cap ETF) and REFA (Columbia Research Enhanced International Equity ETF) are both exchange-traded funds - RESM is a Small Cap Blend Equities fund tracking the Beta Advantage Research Enhanced Small Cap Index, while REFA is a Foreign Large Cap Equities fund tracking the Beta Advantage Research Enhanced International Equity Index. Both are passively managed. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.32% expense ratio.

Performance

RESM vs. REFA - Performance Comparison

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

Returns By Period

In the year-to-date period, RESM achieves a 21.67% return, which is significantly higher than REFA's 11.14% return.

RESM

• 1D: -0.58%
• 1M: 5.32%
• 6M: 21.06%
• YTD: 21.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

REFA

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

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

RESM vs. REFA - Yearly Performance Comparison

	2026 (YTD)	2025
RESM Columbia Research Enhanced Small Cap ETF	21.67%	-3.32%
REFA Columbia Research Enhanced International Equity ETF	11.14%	0.33%

Correlation

The correlation between RESM and REFA is 0.68, 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 Dec 11, 2025	0.68

Return for Risk

RESM vs. REFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Research Enhanced Small Cap ETF (RESM) 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

RESM vs. REFA - Drawdown Comparison

The maximum RESM drawdown since its inception was -8.50%, smaller than the maximum REFA drawdown of -11.23%. Use the drawdown chart below to compare losses from any high point for RESM and REFA.

Drawdown Indicators

	RESM	REFA	Difference
Max Drawdown Largest peak-to-trough decline	-8.50%	-11.23%	+2.73%
Current Drawdown Current decline from peak	-0.95%	-0.36%	-0.59%
Average Drawdown Average peak-to-trough decline	-1.77%	-2.79%	+1.02%

Volatility

Volatility by Period

	RESM	REFA	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.36%	18.61%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.36%	18.61%	-1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.36%	18.61%	-1.25%

RESM vs. REFA - Expense Ratio Comparison

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

Dividends

RESM vs. REFA - Dividend Comparison

RESM's dividend yield for the trailing twelve months is around 0.08%, more than REFA's 0.03% yield.

Position	TTM	2025
REFA Columbia Research Enhanced International Equity ETF	0.03%	0.03%
RESM Columbia Research Enhanced Small Cap ETF	0.08%	0.09%

Frequently Asked Questions

Can I hold both RESM and REFA in my portfolio?

RESM and REFA have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, RESM 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, RESM or REFA?

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

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

RESM has the higher dividend yield at 0.08%, compared with 0.03% for REFA.

What is the main difference between RESM and REFA?

RESM is categorized as Small Cap Blend Equities, while REFA is Foreign Large Cap Equities. RESM tracks Beta Advantage Research Enhanced Small Cap Index, while REFA tracks Beta Advantage Research Enhanced International Equity Index.