Subject: File No. S7-24-15
From: Chris Kurtz

January 29, 2020

Leveraged and Inverse funds allow individual investors to take part in trends, whether up or down, and pursue higher gains. Let the individual investor do this without putting unnecessary restrictions on them. Yes, they offer greater gains, and yes, the downside is increased as well. However, that's true also of options and a number of other instruments. Will penny stocks be the next target?
A fund's prospectus could be expanded to emphasize the risks, but taking leveraged/inverse funds off the table simply is not fair to the individual investor. Some people really should NOT be in the markets, but on the other hand, one does not have to have a high income or superior investing skills to make prudent decisions about these funds. Let the investor choose.