iShares says ETFs using derivatives should be renamed

"Some sponsors have introduced new products of increased complexity that carry greater risk and may not be appropriate for retail ‘buy and hold' investors," Noel Archard, managing director at BlackRock's ETF business iShares said in his testimony ahead of the Senate hearing on ETFs. "Products which raise such concerns include so-called leveraged and inverse funds, products that are backed principally by derivatives rather than physical holdings....