Subject: File No. S7-24-15

February 19, 2020

I am a retail investor with sufficient knowledge to understand the leveraged and inverse leveraged funds. I use them to enhance returns with limited capital exposure. I also use the inverse funds to protect portfolio as needed once again with limited capital exposure.

These funds have proven to be very effective for my portfolio for almost a decade. They are not complicated to understand how they work. There are enough materials on the leveraged products published by Proshares and other fund products/ management companies.

Making these funds non-accessible or difficult to access for a retail investor will only push a retail investor to seek help from mutual fund companies which is not in the best interest of a retail investor like me. We would like to have full unlimited access to the leveraged / inverse funds as they are available today in the markets.

Thank you for considering.