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Rick Larrieu Comment On Regulatory Notice 22-08

Thank you for your time. I've gotten into investing over the last 5 months as an individual with limited funds. I've learned to responsibly utilize leveraged and inverse ETFs and they have become a crucial part of my trading strategy. For someone like me, it allows greater exposure in the market with less funds. Also, inverse tools make the most sense in a bear market which we are possibly going into this year. Finally, I have no idea why anyone would limit use of the plethora of tools available only to the affluent. This is a free country and everyone is considered an equal.

James Ward Comment On Regulatory Notice 22-08

I understand the leveraged and inverse investments that I choose to invest in. These ETFs make it possible for the little guy to avail themselves of investing strategies that would otherwise only be available to privileged individuals with resources I can only dream of. Recently I have been able to take advantage of rising interest rates through the use of treasury short ETFs. It's small. It's not a market mover. But it's mine. And it wouldn't have been available to me without access to these funds.