{
    "success": true,
    "data": {
        "complex": "complex",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETC",
        "complex_factors": "The ETC aims to replicate the Bloomberg Industrial Metals Sub Pound Sterling Hedged Daily Total Return Index (BUINDPT) by tracking the Bloomberg Industrial Metals Sub Pound Sterling Hedged Daily Excess Return Index and providing the interest revenue adjusted to reflect fees and costs associated with the product. The currency hedging and the use of futures contracts to track an index make it complex.",
        "classification": "complex",
        "supporting_data": "The WisdomTree Industrial Metals - GBP Daily Hedged ETC is designed to provide investors with a total return exposure to Industrial Metals futures contracts currency hedged in GBP.  This immediately introduces complexity due to the use of futures, which are derivatives. Furthermore, the currency hedging adds another layer of complexity. The KID states that price changes in the futures contracts referenced in the Benchmark will not necessarily result in correlated changes in the level of the Benchmark or of the Product. This suggests that the ETF's performance relies heavily on derivative instruments and the associated risks, such as roll costs and contango/backwardation effects, which are not easily understood by retail investors. The use of an index that tracks an excess return index further contributes to the complexity. The document includes a comprehension alert showing the asset is not simple and may be difficult to understand which confirms the 'complex' asset determination."
    }
}