{
    "type": "ETC",
    "ucits": false,
    "replication_method": "synthetic",
    "swaps": true,
    "derivatives": true,
    "leverage": true,
    "inverse": false,
    "complex_factors": [
        "Leverage",
        "Synthetic replication via fully collateralised swaps",
        "Daily reset and compounding effects",
        "Counterparty risk",
        "Commodity futures rolling (contango/backwardation effects)"
    ],
    "classification": "complex",
    "supporting_data": "The WisdomTree Corn 2x Daily Leveraged product is a fully collateralised Exchange Traded Commodity (ETC) that provides 2x leveraged exposure to the Bloomberg Corn Sub Excess Return Index. It uses a synthetic replication method via fully funded swap agreements with collateral held at a third party custodian. The product explicitly states the use of swaps and collateralised debt security structure, confirming derivative usage as an inherent part of the investment strategy. The leverage factor is 2x with daily reset, causing compounding effects that make returns over periods longer than one day non-linear and potentially difficult to predict. The product carries a highest risk rating of 7/7, indicating very high risk. Counterparty risk is explicitly disclosed, with collateral management and credit risk described in detail. The underlying index tracks futures contracts that are rolled daily, exposing investors to contango and backwardation effects, adding complexity. The product is not UCITS compliant and is structured as a debt security (ETC), not an ETF. The KIID and factsheet warn that the product is not simple, requires specific knowledge, and is intended for informed investors who understand leverage and daily rebalancing. These factors combined meet MiFID II criteria for classification as a complex financial instrument."
}