Subject: File No. S7-24-15
From: Shaun Sherman

January 30, 2020

Leveraged and inverse ETFs allow to seek enhanced returns at a reasonable cost through an instrument that is easy to use and in manageable dollar increments. I am able to recreate a similar risk profile through options and futures, but an an increased cost. Please do not eliminate my ability to access leveraged ETFs and needlessly create friction and regulation in the financial system.