Subject: File No. S7-24-15
From: Joseph McEntee

February 27, 2020

Leveraged and inverse funds are the key to accessing the best (and diversified) financial returns. For example leverage can allow one to have a much smaller position in equities while receiving the same returns. I have a MA/BA in Economics and currently in a Business PhD program. Of course I, and others who trade these leveraged products, know of the risks and how to use the assets. The prospectus of ETF's and other leveraged products already make them very clear. Increasing the amount of regulations on such products may negatively impact liquidity and actually hurt the investors they are claiming to protect.