Subject: File No. S7-24-15
From: Mengyu Hu

March 10, 2020

Leveraged fund is crucial for individual investors like me as It allows me to potentially gain larger return without using Margin or trading option or futures. I do believe using Margin or trading future or options is having much higher risk than buying leveraged ETF. Meanwhile, inverse ETFs allow me to hedge some of my positions with very low cost and risk. As a free market, US is the role model for the whole world. Putting such restrictions are definitely going to destroy the reputation of this market and investors will think twice before they decide to invest in this Market.