Subject: File No. S7-24-15
From: JOSEPH KIST

February 20, 2020

I DO NOT THINK IT IS NECESSARY TO RESTRICT USE OF LEVERAGED FUNDS. I HAVE USED THEM WITH GOOD RESULTS AND DO NOT FIND THE RISK IN USING THEM TO BE HARD TO UNDERSTAND AT ALL. TO ME, OPTIONS ARE MUCH MORE OF A RISK AND HARDER TO UNDERSTAND THAN LEVERAGED FUNDS WILL EVER BE.