{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETC",
        "leverage": false,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "The ETC replicates the Bloomberg Commodity Energy Subindex 4W Total Return Index (BCOMEN4T) by tracking the Bloomberg Energy Sub Excess Return Index and providing the interest revenue adjusted to reflect fees and costs associated with the product. The underlying index is futures based which embeds derivatives to the strategy. Roll costs and contango / backwardation effects can imply a complex structure",
        "classification": "complex",
        "supporting_data": "The WisdomTree Energy ETC tracks an index composed of energy futures contracts. The use of futures contracts (derivatives) to replicate the index introduces complexity. Specifically, the reliance on futures contracts to track the indexu2019s performance means that it is using derivatives to achieve its investment objective, making it a complex product according to the MiFID II framework. The KID document states, 'You are about to purchase a product that is not simple and may be difficult to understand.' This is a clear indication that the product is intended for investors with specific knowledge or experience of similar products, which again, indicates a level of complexity."
    }
}