AFR submitted a comment letter to the Securities and Exchange Commission urging the Commission not to approve any additional leveraged ETF based on the Chicago Board of Exchange (CBOE) Volatility Index of the S&P 500 (“VIX”).

The letter raises important concerns about not only the inherent dangers of leveraged ETFs that make them unsuitable investments for retail investors but also the systemic risks around managing another volatility ETF reminiscent of the “Volmageddon” episode back on February 5, 2018.

View of download a PDF of the letter here.