Subject: File No. S7-24-15
From: Javier Escobedo

January 29, 2020

Leveraged and Inverse funds are Important to me. They allow me to seek enhanced returns and help you protect your portfolio. Although I'm an individual investor, I am capable of understanding Leveraged and inverse funds and their performance characteristics. 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.