Subject: N/A
From: Brett Owens

Mar. 18, 2020

Comment on SEC Proposed Rule #S7-24-15: 

I have been investing in stocks since 2002 and understand the risks associated with leveraged ETFs. 

I use them to decrease my portfolio's overall risk. Their enhanced returns allow me to: 

1. Keep a greater percentage of my portfolio in cash, and 
2. Buy conservative stocks and ETFs to "anchor" my portfolio. 

The result is a more protected portfolio than I would have if I could only buy and hold individual stocks and non-levered ETFs. 

I appreciate that I have the freedom to make this decision on my own portfolio, and would like to see this freedom preserved. 

Please contact me directly with any questions. Thank you. 

Brett Owens