Subject: File No. S7-24-15
From: Stephen Burgstaller

March 18, 2020

The ability to purchase inverse ETFs enables me to protect my investment portfolios without having to sell the funds and stocks that I have spent many years researching. I believe that without these inverse funds, the market will be much more volatile during bear markets as we will have no choice but to sell all of our securities during these downturns. We all know what this will lead us.