Subject: File No. S7-24-15
From: Blake Pedersen

January 29, 2020


I am in opposition to the proposed rule #S7-24-15. I am an individual investor who uses these funds to reduce risk and enhance returns in my portfolio. They allow me to access hedging techniques that I otherwise would have to go through an expensive and arduous process to use. If this rule were passed, it would make these techniques prohibitively expensive and unwieldy for me to use. This would not only reduce the return of my portfolio, but also increase the risk. This would be a rule that most negatively impacts the little guys, who are most sensitive to the expenses of their portfolio. I fully understand the risks of these funds, and have well-researched and well-implemented systems in place in order to hedge as much of these risks as I can. I believe if this rule were passed, you would be needlessly forcing many to adopt riskier portfolios to reach their return needs.