I just looked it up and it seems that you’re correct.
“Background refresh enables all sorts of functionality that you would otherwise have to keep apps open to access. But what does background app refresh actually do? Here are some examples of the actions it handles without you having to manually check:
News apps grabbing the latest headlines so they're updated when you open them
Apps that track your data usage collecting information in the background
Cloud storage services syncing automatically
Grocery store apps detecting that you're at a store and readying the latest digital coupons
Social media apps like Twitter preloading the latest tweets so you don't have to wait for them upon opening”.