Subject: File No. S7-24-15
From: michael mcbride

February 29, 2020

I have been in the financial markets since the early 90's. I have been involved in commodities since 1993. I do agree that the leveraged funds must be monitored like you would in the futures market. I am a technical trader when it comes to the leveraged funds. Yes, mistakes are made but I do limit my exposure to these types of investments. I feel these types of investment vehicles should be a small part of your portfolio. However, I also feel that way about any individual stock as well. There are risk involved in investing regardless of the type of stock, futures, or ETF's. Leveraged funds are no more riskier than any stock. If you are an investor looking to hold long term then these are probably not for you. They typically should be considered a 3 year or less time frame in my opinion. Not to say you can't hold them longer and still be profitable. These are very good investment vehicles to have in ones portfolio.