{
    "success": true,
    "data": {
        "product_name": "WisdomTree Copper 3x Daily Short",
        "is_ucits": false,
        "type": "ETC",
        "replication_method": "synthetic",
        "leverage": true,
        "swaps": true,
        "inverse": true,
        "complex_factors": [
            "Leverage (3x)",
            "Daily reset of leverage",
            "Compounding effect",
            "Short exposure",
            "Commodity futures",
            "Potential for significant loss",
            "No capital protection",
            "High risk classification (7/7)"
        ],
        "supporting_data": "The product is a 3x daily leveraged short ETC. This means it aims to deliver three times the inverse of the daily performance of the Solactive HG Copper Commodity Futures SL Index. The key complexity arises from the '3x Daily Short' aspect, which implies significant leverage and a daily reset mechanism. This daily reset introduces a compounding effect, meaning that over periods longer than one day, the product's return will likely deviate significantly from a simple -3x multiple of the index's performance. This compounding effect, combined with the leverage and the inverse exposure, can lead to substantial and unpredictable losses, especially in volatile markets. The 'compulsory redemption events' and the issuer's ability to terminate the product unilaterally also add to the complexity and risk profile. The KID explicitly states a risk indicator of '7 out of 7, which is the highest risk class', highlighting the significant potential for losses. The fact that it tracks commodity futures also introduces complexity related to roll costs, contango/backwardation effects, and the nature of derivative instruments, which are generally considered complex under MiFID II due to their structure and associated risks (like counterparty risk, though collateralization may mitigate this). The document also mentions 'potential for significant loss' and 'no capital protection'.",
        "classification": "complex"
    }
}