{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The WisdomTree New Economy Real Estate UCITS ETF physically replicates the CenterSquare New Economy Real Estate UCITS Index, investing directly in equity securities of global real estate companies with exposure to technology and science sectors. The fund uses full physical replication as confirmed by the factsheet, with no mention of synthetic replication, swap agreements, or derivative instruments as part of its core strategy. The fund may engage in repurchase/reverse repurchase agreements and stock lending solely for efficient portfolio management, which is standard and does not imply synthetic exposure or complexity under MiFID II. There is no leverage, inverse or amplified exposure. The risk profile is moderate (4 out of 7), consistent with direct equity investment risk rather than complexity. The fund is UCITS compliant, with a straightforward index-tracking objective, investing in liquid, transparent securities. No capital protection or structured features are present. Costs are simple, with a single ongoing charge (TER) of 0.45%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The index tracked is fundamentally weighted and rebalanced semi-annually, but does not include complex structured products or contingent bonds. Overall, the ETF exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms that would trigger a complex classification under MiFID II."
}