To the Commissioners: Thank you for the opportunity to comment on the Commission' request for public input regarding innovative exchange-traded funds. I am an individual investor who has spent significant time researching income-oriented ETFs, particularly covered-call ETFs. I appreciate the Commission's goal of encouraging innovation while protecting investors and maintaining fair, orderly, and efficient markets. I would encourage the Commission to preserve public access to these products while ensuring that investors receive clear, comprehensive disclosures. My experience has been that covered-call ETFs serve a legitimate purpose for investors whose primary objective is current income rather than maximum long-term capital appreciation. Many investors, including retirees, caregivers, people with disabilities, and those experiencing temporary interruptions in employment, may prioritize predictable cash flow over maximizing portfolio growth. Unlike many complex private investments that are available only to accredited investors, these ETFs are publicly traded, transparent, and operate under a prospectus that clearly describes their objectives, risks, strategy, and limitations. In my view, this transparency allows investors to make informed decisions. One aspect I particularly appreciate is that these funds openly disclose important considerations, including: That distributions are variable and are not guaranteed. That covered-call strategies generally limit upside participation during strong market advances. That net asset value may decline over time. That the funds are designed primarily for income generation rather than long-term capital appreciation. The mechanics of the options strategy, including the risks associated with selling covered calls. These disclosures allow investors to determine whether the product is appropriate for their own financial objectives. I also believe it is important to recognize that not all covered-call strategies are identical. Different funds employ different approaches, including differences in the underlying index, option selection, strike prices, and option expiration schedules. For example, some funds utilize zero-days-to-expiration (0DTE) options, while others may sell options with longer maturities. These differences materially affect risk, income generation, and market exposure. Investors should have the ability to choose among these approaches based on their individual goals and risk tolerance. In my opinion, the Commission should continue emphasizing robust disclosure rather than unnecessarily restricting investor choice. Clear prospectus language, standardized risk disclosures, and investor education are appropriate ways to improve understanding while preserving access. Public investors routinely make decisions involving dividend stocks, bonds, REITs, preferred securities, options, and other income-producing investments. Covered-call ETFs represent another transparent tool that allows investors to pursue income using publicly available products within a regulated framework. I respectfully encourage the Commission to preserve access to these ETFs while continuing to require clear, understandable disclosures that enable investors to make informed decisions. I believe this approach best balances innovation, investor protection, and market efficiency. Thank you for considering my comments. Respectfully, Jennifer Steward