Subject: File No. S7-24-15
From: Gary Okazaki

May 4, 2020

These leveraged and inverse funds are an essential way to hedge our portfolios. In these turbulent times, this is essential. Why is the SEC singling these funds. If you decide to do it, then you should do it for ALL funds. How about requiring this for ALL stocks? Of course this is ridiculous.

We as investors understand the risks. If there are some who don't, then that is their problem. We don't need "Big Brother" telling us what we can and can't do. This is a democracy and not a Communist state.