Edward Jones Drops Sales Of Leveraged ETFs
The Wall Street Journal is reporting that Edward Jones has decided to drop the sale of leveraged ETFs. WSJ reports: “The St. Louis-based financial-services firm says leveraged ETFs just are not suitable for long-term investors. A spokeswoman said the company decided in June, during a regular review of the investment products it offers, to drop them.
Complex instruments that magnify risks along with returns, leveraged ETFs are “one of the most misunderstood and potentially dangerous types of ETFs,” Edward Jones mutual fund research analyst Katie Martin said in a report titled “not all ETFs are created equal.” She also pointed out the dangers of exchange-traded notes and structured products similar to leveraged ETFs. ”
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