Chapman and Cutler LLP 111 West Monroe Street Chicago, Illinois 60603 December 9, 2019 Mr. Edward Bartz Division of Investment Management Securities and Exchange Commission 100 F Street, N.E. Washington, DC 20549 Re: Guggenheim Defined Portfolios, Series 1965 Income & Treasury Limited Duration Portfolio of Funds, Series 62 File Nos. 333-234374 and 811-03763 -------------------------------------------------------------------------------- Dear Mr. Bartz: This letter responds to your comments given during a telephone conversation with our office regarding the registration statement on Form S-6 for Guggenheim Defined Portfolios, Series 1965, filed on October 30, 2019 with the Securities and Exchange Commission (the "Commission"). The registration statement proposes to offer the Income & Treasury Limited Duration Portfolio of Funds, Series 62 (the "Trust"). PROSPECTUS Investment Summary -- Principal Investment Strategy 1. The "Principal Investment Strategy" section states that the Trust may invest in closed-end funds that may invest in convertible bonds. Please disclose whether these closed-end funds will substantially invest in contingent convertible securities. If so, please disclose this in the principal investment strategies and provide the corresponding risk disclosures. Response: The closed-end funds that the Trust may invest in do not currently invest substantially in contingent convertible securities. 2. The "Principal Investment Strategy" section states that the Trust may invest in closed-end funds that may invest in mortgage-backed bonds, convertible bonds, senior loans and international bonds, including bonds from issuers located in emerging markets. If the Trust invests, as a principal investment strategy, in a closed-end fund that invests principally in such securities, please provide the corresponding risk disclosures. Response: If the Trust invests, as a principal investment strategy, in a closed-end fund that invests principally in one of those asset classes, the Trust will add the corresponding risk disclosures in the "Principal Risks" and/or "Investment Risks" sections, as appropriate. We appreciate your prompt attention to this registration statement. If you have any questions or comments or would like to discuss our responses to your questions, please feel free to contact the undersigned at (312) 845-3484. Very truly yours, CHAPMAN AND CUTLER LLP By /s/Morrison C. Warren ------------------------ Morrison C. Warren