{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETC",
        "complex_factors": [
            "Leveraged Exposure to Aluminum",
            "Compounding Effect due to daily reset of leverage",
            "Rolling of futures contracts leading to price changes"
        ],
        "leverage": true,
        "derivatives": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "synthethic",
        "classification": "complex",
        "supporting_data": "The WisdomTree Aluminium 2x Daily Leveraged ETC is classified as complex due to its leveraged structure (2x daily performance) and its reliance on the Bloomberg Aluminum Sub Excess Return Index. The document explicitly states that the product is 'not simple and may be difficult to understand,' triggering the MiFID II comprehension alert requirement. The use of leverage, along with the daily reset of the leverage factor, results in a compounding effect and can deviate significantly from the index return over time. This introduces complexity beyond basic market risk as it impacts the underlying derivative strategy. The ETF also references futures contracts, indicating a synthetic replication method which makes the underlying asset difficult to understand for non professional clients. (ESMA,2015).",
        "warnings": [
            "The product has been classified as 7 out of 7 on the risk scale, which indicates the highest level of risk. (MiFID II)",
            "The fact that the product is leveraged makes the risks to the consumer difficult to understand."
        ]
    }
}