Subject: File No. S7-24-15

February 19, 2020

I think the highly leveraged 3X funds (inverse or not such as TQQQ and SQQQ) are very risky and can be restricted for average investor since they are not meant for investing but very short term trading tools. The 1X and 2X inverse funds are useful hedging tools for investors to protect their long portfolio against market down turns. And most investors who buy these inverse funds fully understand their risks and buy them either as hedges or intend to make speculative bets on market downturns and are fully aware of the consequences and risks. So they should not be restricted.