Subject: File No. S7-24-15

February 20, 2020

I personally use leveraged funds to reduce risk when investing in markets. Leveraged funds allow me to take smaller positions to protect my investment capital and still capture adequate returns. Investors are adequately informed about the the use of leverage and the possibility of capital losses when buying leveraged funds. Today's investors are knowledgeable and sophisticated and do not need to be protected by a "big brother" government. We all would like less government in our lives.