{
    "type": "ETC",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The WisdomTree Physical Gold - EUR Daily Hedged is a UCITS eligible Exchange Traded Commodity (ETC) that provides exposure to physical gold with a daily currency hedge. The product is backed by physical, allocated gold bars held by a custodian (JPMorgan Chase Bank), with no indication of synthetic replication or use of swap agreements or derivative instruments as part of the investment strategy. The replication method is physical, with direct allocation of LBMA Good Delivery gold bars. There is no leverage, inverse exposure, or capital protection mechanism. The risk indicator is moderate (4 out of 7), reflecting market and issuer risks but not complexity from derivatives or leverage. Costs are straightforward with no performance fees or swap fees. The product does not use derivatives inherently but may use currency hedging, which is a risk management tool and does not trigger 'derivatives' complexity. There is no mention of complex underlying assets such as contingent convertible bonds or structured products. The PRIIPs KID and factsheet do not reveal any additional complexity factors such as swap usage or complex indices. Therefore, under MiFID II criteria, this ETC is classified as non-complex."
}