Columbia Research Enhanced International Equity ETF (NYSE Arca: REFA) is an exchange-traded fund that seeks to track the performance of the Beta Advantage Research Enhanced International Equity Index before fees and expenses. The fund invests at least 80% of its net assets in equity securities, including American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs), of companies located in international developed market countries as defined by the Solactive GBS Developed Markets ex North America Large & Mid Cap USD Index; it employs a rules-based strategic beta approach designed to achieve stronger total returns compared to the broad developed market large- and mid-cap universe by integrating proprietary research to enhance index exposures. Top holdings include ASML Holding NV (4.3%), Roche Holding AG (3.5%), Novartis AG (3.1%), Sony Group Corp (2.9%), and BHP Group Ltd (2.8%), with approximately 200 holdings and a net expense ratio of 0.32%.
REFA, issued by Columbia Threadneedle Investments—a brand of Ameriprise Financial, Inc.—launched on December 11, 2025, and is passively managed without day-to-day active security selection or fundamental research. The ETF provides targeted exposure to non-U.S. developed market equities across large- and mid-cap growth and value companies in regions such as Europe and Asia-Pacific; it is listed on NYSE Arca and available through financial intermediaries, with total net assets of approximately $4 million and 200,000 shares outstanding as of late December 2025.
In December 2025, Columbia Threadneedle Investments launched REFA alongside five other new ETFs—Columbia Research Enhanced Small Cap ETF (RESM), Columbia Research Enhanced Mid Cap ETF (REMC), Columbia Corporate Bond ETF (CCRP), Columbia Core Plus Bond ETF (CRXP), and Columbia AAA CLO ETF (AAAC)—expanding its U.S. lineup to 20 ETFs spanning equities, equity income, thematic growth, and fixed income strategies, with half actively managed. This launch builds on the success of the firm's Research Enhanced suite, including the Columbia Research Enhanced Core ETF (RECS), and reflects a strategic push into research-enhanced indexing to address advisor challenges in improving benchmark outcomes by removing low-conviction securities. Columbia Threadneedle, headquartered in Boston with global operations, continues to innovate through its quantitative and fundamental research collaboration, recently extending similar strategies like the QR (Quant Redefined) ETF Series in Europe.