{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETC",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "The ETC tracks a basket of Precious Metals futures contracts using the Bloomberg Precious Metals Sub Euro Hedged Daily Total Return Index. This involves daily hedging, which introduces complexity and potential roll costs or contango/backwardation effects. The use of futures contracts, especially with daily hedging, makes the structure not simple and it may be difficult to understand. Currency hedging introduces additional complexity and the potential impact of changing exchange rates further complicates understanding.",
        "classification": "complex",
        "supporting_data": "The WisdomTree Precious Metals - EUR Daily Hedged ETC is designed to provide exposure to precious metal futures contracts through the use of derivatives, specifically futures contracts. It utilizes the Bloomberg Precious Metals Sub Euro Hedged Daily Total Return Index. Due to the fact that it uses a hedging strategy it is complex. The daily hedged nature of the product introduces elements of complexity not easily understood by retail investors. This is supported by ESMA's stance (ESMA/2015/187), which often considers derivative use, even for risk management, as a factor in complexity. The use of futures contracts and a hedging strategy could introduce roll costs and create a structure that is not straightforward for retail investors to understand and this is stated in the KII document. The KII document also states that the product is not simple and that it may be difficult to understand."
    }
}