Subject: File No. S7-24-15
From: Ashley Lo

March 10, 2020

I have been an SPXL shareholder since March 2019, and have traded wisely during this time. I bought at $49 per share, and sold at $67 per share prior to the steep declines instigated by the coronavirus.

In light of recent events, it seems reasonable to say that any losses currently sustained by my portfolio are due to the market as a whole suffering under the recent coronavirus outbreak---as opposed to specific, fundamental flaws in the companies I invested in and/or personal blunders of my own.