Subject: File No. S7-24-15
From: Bala Kothan

February 21, 2020

Leverage ETF and inverse funds are very useful for investors . As long as there are proper disclosures and margining is appropriate with the level of risk , it is a good investment addition inverse ETFs are better than naked short selling which has unlimited downside , the risk here is in rolls . My vote is to keep the leverage and inverse ETF