{
    "type": "ETP",
    "ucits": false,
    "replication_method": "synthetic",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Leverage",
        "Synthetic replication via swaps",
        "Exposure to futures contracts",
        "Daily reset and compounding effects",
        "Counterparty risk",
        "Complex index methodology"
    ],
    "classification": "complex",
    "supporting_data": "The WisdomTree NASDAQ 100 5x Daily Leveraged product is a fully collateralised Exchange Traded Product (ETP) that provides 5 times leveraged exposure to the US Technology Rolling Futures ER Index, which tracks NASDAQ 100 futures contracts. The product uses a synthetic replication method via fully collateralised swap agreements, explicitly referencing swap counterparties and collateral held at The Bank of New York Mellon. The leverage factor is 5x daily, with a daily reset mechanism causing compounding effects that make returns over periods longer than one day non-linear and potentially unpredictable. The product is not UCITS compliant, structured as a debt security, and carries the highest risk rating of 7/7. The KIID and factsheet highlight significant counterparty risk, liquidity risk, and the complexity of the underlying index methodology, including rolling futures contracts and embedded costs such as roll costs and swap fees. The product is intended only for informed investors with specific knowledge of leveraged and derivative products and is not suitable for retail investors seeking capital preservation. These factors\u2014high leverage, synthetic replication via swaps, exposure to futures, counterparty risk, and complex index construction\u2014drive the MiFID II classification as complex despite the product\u2019s transparent fee structure and exchange listing."
}