{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": "CoCo Bonds, Complex Indices, Counterparty Risk, Synthetic Replication",
        "classification": "complex",
        "supporting_data": "The WisdomTree AT1 CoCo Bond UCITS ETF is classified as complex due to several factors. The ETF tracks an index composed of Contingent Convertible Bonds (CoCos), a type of hybrid debt security with complex features. CoCos can convert into equity or be written off under certain circumstances, introducing significant risk and potential for capital loss for retail investors. The use of CoCos, the inherent risk involved, and the underlying index's complex structure make it difficult for retail investors with basic financial knowledge to fully understand the risks involved, leading to a 'complex' classification according to MiFID II guidelines.  The ETF's investment objective and index are also central to the strategy and potential for swaps use is present for hedging or replication purposes."
    }
}