Is it ok to let Wealthsimple loan my stocks?

I've mentioned this a few times before, and in my opinion for my own personal portfolio I let Wealthsimple loan them out because if it isn't me, it's just going to be the next guy.

The two main downfalls here are you no longer have voting rights and that you lose your CIPF coverage. In terms of the voting rights, the bulk of retail investors don't own enough shares to have a material impact or they simply don't care much for voting rights anyways. So I view this as a non-factor.

On the CIPF coverage end, Wealthsimple provides collateral on the shares held so that even in the event they aren't returned, you'd be compensated.

It is a relatively low risk way to earn a bit of income, but don't ever expect much. I make maybe a dollar or two a month, primarily on the more speculative positions in my portfolio.