Subject: File No. S7-24-15
From: Donat Aubuchon

February 22, 2020

I'm an advisor in TQQQ (NASDAQ 100 Index Fund), UPRO (SP 500 Index Fund), and USD (Semiconductor Fund). These funds have been very financially rewarding for me. Their historical returns have been outstanding.

TQQQ: 1-yr 133.83%, 3-yr 59.91%, 5-yr 39.80%
UPRO: 1yr 102.83%, 3-yr 37.46%, 5-yr 26.12%
USD: 1-yr 83.71%, 3-yr 43.31%, 5-yr 35.33%

As you can see, the leveraged and inverse funds are important to me based on their enhanced return to protect me from inflation. I am fully capable of understanding these risks and I won't want anyone preventing me from purchasing them.

I'm a believer of the free public markets where investors and their advisors have the freedom in buying public securities without government intervention which would impose limitations on the investor's choice.