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

March 18, 2020

The SEC should not limit or eliminate the opportunity to invest in leveraged ETFs.

I have a PhD in Finance and manage my own portfolio. I have enjoyed the opportunity to invest in Index, and leveraged Index funds for many years. They offer an excellent component to a well balanced investment portfolio. They offer significant diversity (consider QQQ = 100 NASDAQ firms).

Furthermore, they can help level-the-playing-field for the small and personal investors. Institutional brokers can spread a large investors money across a large number of positions while QQQ and TQQQ permit more average / smaller investors a comparable advantage without having to have the capital resources of a large investor and pay the fees to full-service firms or managed broker-dealers.