Subject: File No. S7-24-15
From: Vincent Butcher

January 29, 2020

Leveraged funds are important to me and allow me to seek enhanced returns and protect my portfolio. I am capable and experienced enough to understand the performance characteristics and don't want a third party preventing me from buying them.
I want to preserve the long standing free public markets where investors have the freedom to buy public securities without additional government-imposed limitations on investor choice.