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James Walker Comment On Regulatory Notice 22-08

Dear regulators: I OPPOSE RESTRICTIONS TO MY RIGHT TO INVEST!! I believe that I should be able to choose public investments that are right for me and that they should be made available to everyone. I take responsibility for my actions and decisions in all aspects of my life and do not want the government to limit or restrict my investment decisions. I use leverage and inverse funds in part to balance my portfolio especially in these times of high volatility and uncertain economic and global situations.

John Lehett Comment On Regulatory Notice 22-08

I would like to make sure you consider that many investors outside of 'high net worth' individuals only have the capacity to understand the risks involved with leveraged and inverse type products which ProShares provides. I value the options that these types of products give me when it comes to having a well balanced portfolio in terms of both risk vs reward, protection (often a part of the inverse products), and other areas in which these provide significant benefits to a well rounded portfolio.

Paul Caruso Comment On Regulatory Notice 22-08

I use levered and inverse funds on a regular basis in my portfolios. They are easy to understand and are a critical tool in managing my portfolio risk. I am retired and not interested in taking on risk that could result in a large drawdown. These tools help me reduce risk, they do not elevate my risk. My alternative would be utilizing options, which are more levered and risky that levered and inverse ETFs. Please do not make it more difficult for me to manage my financial future by reducing access, or complicating my ability to utilize these tools.

Bryce Sandberg Comment On Regulatory Notice 22-08

Leveraged and inverse funds allow me to gain exposure to leveraged and short positions without having to take on leverage myself. I use inverse ETFs to hedge my long positions and to express a bearish view on the market. QQQ is down roughly 20% YTD, but I have been able to hedge my long stock positions and profit from this decline through the PSQ, the inverse of QQQ. I do not want to take on leverage myself, but enjoy the access to these strategies that inverse ETFs allow.

Zhou Fang Comment On Regulatory Notice 22-08

I am a Ph.D. student at UT Austin, and I am doing research in quantitative finance. I believe if an investor can't freely buy any securities would be very harmful for the completeness of the financial market. Besides, the privileges that only people of high net worth could buy leveraged products can only increase the wealth gap between poor students like me and the riches. Therefore, it can't be beneficial for the whole society. I would respectively ask regulators keep the leveraged funds open for the general public, give poor people a hope.