Subject: File No. S7-24-15
From: Anonymous

March 18, 2020

I use leveraged funds like UPRO to protect my portfolio from downside risk. Instead of the traditional 60/40 portfolio I can have 20% in 3x leveraged ETFs so that I approximately match the stock markets upside yet at the same time have less risk with 80% in bonds. I can also increase my ratio of risk when conditions get over-sold. Other people may make poor decisions with leveraged ETFs, lose their money, and complain loudly but this is a healthy part of creative destruction. I support the SECs role in regulating the markets but this is also a free country so the SEC must find the right balance. I believe this new rule would tip the scales too far to the restrictive side.