REFA vs ARMY

Comparison between COLUMBIA RESEARCH ENHANCED INTERNATIONAL EQUITY ETF (REFA, ETF) and Tema International Defense ETF (ARMY, ETF).

REFA vs ARMY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	REFA(ETF)	ARMY(ETF)
Net Assets	$5.60M	$5.60M
Expense Ratio	0.32%	0.68%
Max Drawdown	32.28%	16.37%
Sharpe Ratio	-0.28	-0.58
5Y Beta	1.05	1.02
5Y Dividends CAGR	-50.57%	N/A

Net Assets

REFA

$5.60M

ARMY

$5.60M

Expense Ratio

Winner

REFA

0.32%

ARMY

0.68%

Max Drawdown

REFA

32.28%

Winner

ARMY

16.37%

Sharpe Ratio

Winner

REFA

-0.28

ARMY

-0.58

5Y Beta

REFA

1.05

Winner

ARMY

1.02

5Y Dividends CAGR

REFA

-50.57%

ARMY

N/A

REFA vs ARMY - Historical Returns

Returns include dividend reinvestment.

Period	REFA	ARMY
1 month	-0.06%	+0.19%
3 months	+4.16%	-7.91%
6 months	+7.39%	N/A
5 years(CAGR)	-1.61%	N/A
10 years(CAGR)	-0.24%	N/A
Max(CAGR)	-0.24%	-17.82%

REFA

-0.06%

Winner

ARMY

+0.19%

Winner

REFA

+4.16%

ARMY

-7.91%

REFA

+7.39%

ARMY

N/A

5Y(CAGR)

REFA

-1.61%

ARMY

N/A

10Y(CAGR)

REFA

-0.24%

ARMY

N/A

Max(CAGR)

Winner

REFA

-0.24%

ARMY

-17.82%

REFA vs ARMY - Annual Returns (2017 - 2026)

Returns include dividend reinvestment.

Year	REFA	ARMY
2026	+9.62%	-5.84%
2025	+0.53%	N/A
2020	-2.78%	N/A
2019	+16.54%	N/A
2018	-15.95%	N/A
2017	+12.46%	N/A

REFA vs ARMY Drawdown Comparison

The maximum drawdown for REFA was -27.93%, occurring on Dec 17, 2025. This drawdown has not yet recovered.

The maximum drawdown for ARMY was -16.37%, occurring on Jun 26, 2026. This drawdown has not yet recovered.

The current REFA drawdown is -18.75%. The current ARMY drawdown is -11.89%.

Rank	REFA	ARMY
#1	-27.93% Jan 26, 2018 - Dec 17, 2025	-16.37% Apr 8, 2026 - Jun 26, 2026
#2	-2.46% Nov 1, 2017 - Nov 30, 2017	-1.24% Apr 6, 2026 - Apr 8, 2026
#3	-1.26% Aug 8, 2017 - Sep 7, 2017	N/A
#4	-1.13% Nov 30, 2017 - Dec 12, 2017	N/A
#5	-0.98% Oct 24, 2017 - Nov 1, 2017	N/A
#6	-0.72% Dec 13, 2017 - Dec 19, 2017	N/A
#7	-0.65% Oct 16, 2017 - Oct 24, 2017	N/A
#8	-0.64% Sep 22, 2017 - Sep 29, 2017	N/A
#9	-0.40% Jan 17, 2018 - Jan 19, 2018	N/A
#10	-0.36% Sep 29, 2017 - Oct 10, 2017	N/A
#11	-0.20% Jan 24, 2018 - Jan 26, 2018	N/A
#12	-0.14% Dec 19, 2017 - Dec 21, 2017	N/A
#13	-0.14% Jan 12, 2018 - Jan 17, 2018	N/A
#14	-0.13% Jan 8, 2018 - Jan 11, 2018	N/A
#15	-0.11% Sep 12, 2017 - Sep 19, 2017	N/A

Correlation

Correlation between REFA and ARMY is -0.38 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.38

-101