Q: What features does NTFS support that ReFS does not support?

A: The table below summarizes the main features that are supported on NTFS but not on the Windows Server 2012 ReFS file system.

NTFS should still be used for most scenarios and will be around for a long time. ReFS is a specialized file system for specific purposes today that handles a subset of what NTFS does, without having all the overhead that NTFS has. Note that ReFS supports Cluster Shared Volumes and BitLocker, so it's not on this list.

Functionality	NTFS	ReFS
Named Streams	Yes	No
OBJECT IDs	Yes	No
File System Compression	Yes	No
File System Encryption	Yes	No
TRANSACTIONS	Yes	No
Sparse Files	Yes	No
Hard Links	Yes	No
Extended Attributes	Yes	No
Quota	Yes	No
Max size of a single file	(2⁶⁴-1) bytes	(2⁶⁴-1) bytes
Max size of a single volume	Roughly 256 TB	Roughly 4.7 ZB (zettabytes)
Max number of files in a directory	No actual limitation	2^64
Max number of directories in a volume	No actual limitation	2^64
Max file name length	32K unicode characters	32K unicode characters
Max path length	32K	32K
Boot to file system	Yes	No
Supported on removable media	Yes	No
Deduplication	Yes	No
WDS	Yes	No

Note also that ReFS only uses a 64KB cluster size, which means a lot of wasted space for disks with lots of small files. Since ReFS uses a Copy on Write mechanism, there's a greater chance of fragmentation.

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