REFA vs MAKX

Comparison between COLUMBIA RESEARCH ENHANCED INTERNATIONAL EQUITY ETF (REFA, ETF) and PROSHARES S&P KENSHO SMART FACTORIES ETF (MAKX, ETF).

5-Year PerformanceMAKX has outperformed REFA, delivering a return of +11.6% compared to -1.6%

REFA vs MAKX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	REFA(ETF)	MAKX(ETF)
Net Assets	$5.60M	$5.60M
Expense Ratio	0.32%	0.58%
Max Drawdown	32.28%	40.39%
Sharpe Ratio	-0.28	0.95
5Y Beta	1.05	1.45
P/E Ratio	N/A	60.46
Forward P/E	N/A	23.48
PEG Ratio	N/A	0.98
5Y Dividends CAGR	-50.57%	N/A
5Y EPS CAGR	N/A	7.41%
Debt to Equity	N/A	32.85%
P/S Ratio	N/A	0.01
P/B Ratio	N/A	3.15

Net Assets

REFA

$5.60M

MAKX

$5.60M

Expense Ratio

Winner

REFA

0.32%

MAKX

0.58%

Max Drawdown

Winner

REFA

32.28%

MAKX

40.39%

Sharpe Ratio

REFA

-0.28

Winner

MAKX

0.95

5Y Beta

Winner

REFA

1.05

MAKX

1.45

P/E Ratio

REFA

N/A

MAKX

60.46

Forward P/E

REFA

N/A

MAKX

23.48

PEG Ratio

REFA

N/A

MAKX

0.98

5Y Dividends CAGR

REFA

-50.57%

MAKX

N/A

5Y EPS CAGR

REFA

N/A

MAKX

7.41%

Debt to Equity

REFA

N/A

MAKX

32.85%

P/S Ratio

REFA

N/A

MAKX

0.01

P/B Ratio

REFA

N/A

MAKX

3.15

REFA vs MAKX - Historical Returns

Returns include dividend reinvestment.

Period	REFA	MAKX
1 month	-0.06%	-8.78%
3 months	+4.16%	+9.27%
6 months	+7.39%	+19.18%
1 year	N/A	+34.98%
5 years(CAGR)	-1.61%	+11.59%
10 years(CAGR)	-0.24%	N/A
Max(CAGR)	-0.24%	+11.59%

Winner

REFA

-0.06%

MAKX

-8.78%

REFA

+4.16%

Winner

MAKX

+9.27%

REFA

+7.39%

Winner

MAKX

+19.18%

REFA

N/A

MAKX

+34.98%

5Y(CAGR)

REFA

-1.61%

Winner

MAKX

+11.59%

10Y(CAGR)

REFA

-0.24%

MAKX

N/A

Max(CAGR)

REFA

-0.24%

Winner

MAKX

+11.59%

REFA vs MAKX - Annual Returns (2017 - 2026)

Returns include dividend reinvestment.

Year	REFA	MAKX
2026	+9.62%	+30.42%
2025	+0.53%	+21.91%
2024	N/A	+11.14%
2023	N/A	+25.80%
2022	N/A	-26.81%
2021	N/A	+3.91%
2020	-2.78%	N/A
2019	+16.54%	N/A
2018	-15.95%	N/A
2017	+12.46%	N/A

REFA vs MAKX 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 MAKX was -40.27%, occurring on Oct 14, 2022. Recovery took 908 trading sessions.

The current REFA drawdown is -18.75%. The current MAKX drawdown is -10.85%.

Rank	REFA	MAKX
#1	-27.93% Jan 26, 2018 - Dec 17, 2025	-40.27% Nov 8, 2021 - Jun 24, 2025
#2	-2.46% Nov 1, 2017 - Nov 30, 2017	-16.05% Oct 27, 2025 - Jan 22, 2026
#3	-1.26% Aug 8, 2017 - Sep 7, 2017	-14.80% Jun 2, 2026 - Jul 20, 2026
#4	-1.13% Nov 30, 2017 - Dec 12, 2017	-13.57% Feb 13, 2026 - Apr 13, 2026
#5	-0.98% Oct 24, 2017 - Nov 1, 2017	-7.92% Oct 6, 2025 - Oct 15, 2025
#6	-0.72% Dec 13, 2017 - Dec 19, 2017	-7.02% Jan 22, 2026 - Feb 13, 2026
#7	-0.65% Oct 16, 2017 - Oct 24, 2017	-6.80% May 14, 2026 - May 22, 2026
#8	-0.64% Sep 22, 2017 - Sep 29, 2017	-5.51% Jul 18, 2025 - Aug 12, 2025
#9	-0.40% Jan 17, 2018 - Jan 19, 2018	-5.36% Aug 13, 2025 - Sep 18, 2025
#10	-0.36% Sep 29, 2017 - Oct 10, 2017	-4.68% Sep 22, 2025 - Oct 6, 2025
#11	-0.20% Jan 24, 2018 - Jan 26, 2018	-3.99% Oct 15, 2025 - Oct 24, 2025
#12	-0.14% Dec 19, 2017 - Dec 21, 2017	-2.83% May 6, 2026 - May 13, 2026
#13	-0.14% Jan 12, 2018 - Jan 17, 2018	-2.29% Oct 1, 2021 - Oct 7, 2021
#14	-0.13% Jan 8, 2018 - Jan 11, 2018	-2.01% May 26, 2026 - Jun 1, 2026
#15	-0.11% Sep 12, 2017 - Sep 19, 2017	-1.92% Oct 25, 2021 - Oct 29, 2021