Subject: File No. S7-24-15
From: Steven Hegarty

April 15, 2020

I have been managing my own portfolio for 30 years and have been able to enhance my returns with the use of leveraged and inverse funds. I agree they can be risky but I do believe individual investors should be able to utilize the unique feature these funds provide. I believe them to be less risky than shorting a stock or index and far less risky and less expensive than a margin loan. Perhaps clearer language and acknoweldgement of the risk is all the is required.