You are exactly correct. So many people are buying these synthetic instruments without even reading the prospectus that clearly states in plain language what y

You are exactly correct. So many people are buying these synthetic instruments without even reading the prospectus that clearly states in plain language what you said but they still buy them expecting > daily tracking. I’ve seen so many strategies that technology people come up with (including myself) that look great on paper but don’t take into account the prospectus or things like market conditions, counterparty risk, backwardation, contango, etc.