{
    "success": true,
    "data": {
        "leverage": true,
        "derivates": true,
        "swaps": true,
        "inverse": true,
        "replication_method": "synthethic",
        "ucits": false,
        "type": "ETC",
        "complex_factors": "Leverage, Swaps, and Complex Indices.",
        "classification": "complex",
        "supporting_data": "The WisdomTree Copper 3x Daily Leveraged ETC is classified as complex. This is because the product provides leveraged exposure (3x) to the Solactive HG Copper Commodity Futures SL Index. Leveraged products inherently involve complex mechanisms and increased risk. The use of derivatives, such as futures contracts, is central to the product's strategy to amplify returns and therefore it is not possible to exclude the use of such instruments. The daily reset of the leverage factor introduces a compounding effect, increasing the product's volatility and making its performance deviate from the index's performance over time. The document clearly states that it is a product that is not simple and may be difficult to understand, and is intended for informed retail investors with experience. This is especially relevant to the MiFID II complexity classification. As per the MiFID II rules and ESMA guidelines, products with significant leverage or relying on derivatives for their investment objective are considered complex, especially for retail investors. The KID itself warns investors that the product is not simple and may be difficult to understand, thus meeting the alert requirement outlined in the MiFID II framework."
    }
}