{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETC",
        "complex_factors": "Index replication via swaps, currency hedging, and futures contracts. Also, it tracks a complex commodity index.",
        "classification": "complex",
        "supporting_data": "The WisdomTree Broad Commodities Longer Dated - EUR Daily Hedged ETC is classified as complex due to several factors. The Key Information Document states that the ETC aims to replicate the Bloomberg Commodity 3 Month Forward Euro Hedged Daily Total Return Index (BCOMDE3T) which is a complex index, by tracking the Bloomberg Commodity 3 Month Forward Euro Hedged Daily Excess Return Index and providing the interest revenue adjusted to reflect fees and costs associated with the product. This directly implies the use of derivatives (futures contracts) to replicate the index's performance, as the underlying assets are not held. This use of swaps, futures and hedging is further evidence of this. The PRIIP document warns that the product is not simple and may be difficult to understand indicating its complexity. Furthermore, the use of forward contracts for commodities, currency hedging introduces counterparty risk and makes the structure and risks difficult for retail investors to understand. ESMA has concerns about the use of derivatives even for EPM. The intended retail investor has knowledge or experience of investing in similar products and in financial markets. This does not mean that the instrument does not need assessment."
    }
}