{
    "type": "ETF",
    "ucits": true,
    "fund_name": "WisdomTree Cloud Computing UCITS ETF - USD Acc",
    "investment_objective": "Track the price and net dividend performance of the BVP Nasdaq Emerging Cloud Index, which tracks emerging public companies primarily involved in cloud software and services.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Primarily United States (92.59%), with minor exposure to Israel, Canada, and others",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses a physical replication method with fully or representative sampling of the underlying index constituents, investing directly in equities. There is no mention of synthetic replication, swap agreements, or derivative instruments as part of the investment strategy. The fund is UCITS compliant and does not employ leverage or inverse exposure. The risk profile is rated 6 out of 7, reflecting equity market volatility and sector concentration risk, but this does not stem from structural complexity such as derivatives or leverage. The fund may use repurchase/reverse repurchase agreements and stock lending solely for efficient portfolio management, which is common and does not imply complexity under MiFID II. The underlying index is an equity index focused on cloud computing companies, with no complex structured products or contingent bonds. Costs are straightforward with a TER of 0.40%, no performance fees, and no swap fees. The PRIIPs KID does not include any comprehension warnings or complexity flags related to derivatives or leverage. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Therefore, the fund is classified as non-complex under MiFID II."
}