Subject: File No. S7-24-15
From: Timothy Tensen

January 30, 2020

Although I am not a super savy investor, I do understand and used leveraged funds, and have been doing so for over 10 years. They make up about 20% of my portfolio, and clearly understand how they work and the crazy swings they can make.

Also understand that it has been a great 10 years with fantastic gains overall, but know when it goes down, it goes down large.

Any investing has risks. Many people say the market in general has risks. Mutual funds, EFT's and leveraged funds have allowed me to diversify a much broader rate than if I had to focus on individual securities.

Do not need another government agency overseeing and trying to protect me from risks that are clearly understood, whether leveraged funds, stocks, bonds or real estate.