Subject: File No. S7-24-15
From: Paul Seitz

February 20, 2020

Leveraged and inverse funds are a critical element of my personal investment strategy. They allow me to seek returns that are alpha to market returns or they allow me to hedge risks that are unique to my portfolio.

I believe in the free and open market system, and having access to unique products help preserve the free and open market system that is critical to individual financial freedom.