Subject: File No. S7-24-15
From: David Malloy

February 21, 2020

As part of my overall portfolio strategy the leveraged ETFs provide important balanced exposure to equities. I understand the risk/reward of leveraged and inverse funds. I do not need a third party to determine whether I can buy/sell leveraged ETFs or any ETFs for that matter. I do not want additional government sanctions regarding my investment choices.