Edward Jones is no longer selling leveraged exchange-traded funds, calling them “potentially dangerous” for average investors.

Edward Jones Mutual Fund Research Analyst Katie Martin, in a research note titled, “Not All ETFs Are Created Equal,” said she was also wary of other structured products and exchange-traded notes.

“Investors also need to recognize that leveraged ETFs have an increased potential for capital gains distributions and significantly higher expense ratios than the traditionally broadly based stock market ETFs,” Martin wrote, “negating some of the benefits of purchasing an ETF.”

FINRA and the Massachusetts attorney general are currently investigating leveraged ETFs.

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