Subject: File No. S7-24-15
From: Don Teo

February 19, 2020

I run a regular rebalancing plan that makes use of leveraged ETFs. The proper use of these leveraged products is fundamental to my investment strategy. These funds improve my performance over the long term. I am engaged in careful, methodical trading and I understand the effect of daily magnification of an indexs price movement. In fact, I use this magnification to my advantage.

I do not want a third party evaluating my capability of managing these funds, and certainly do not want one preventing me from buying them.

If leveraged funds are restricted to accredited or wealthy investors only, the wealth gap in the country may increase as sophisticated investment products such as leveraged indices become exclusive to the privileged few.

Please keep leveraged funds available to all investors.