{
    "success": true,
    "data": {
        "leverage": true,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "ucits": true,
        "type": "ETP",
        "complex_factors": [
            "Leverage",
            "Derivatives",
            "Daily Reset Compounding Effect",
            "Rolling of Futures Contracts"
        ],
        "classification": "complex",
        "supporting_data": "The WisdomTree S&P 500 VIX Short-Term Futures 2.25x Daily Leveraged ETP is classified as complex due to several factors.  The KID explicitly states 'You are about to purchase a product that is not simple and may be difficult to understand,' which is a strong indicator of complexity. The ETP utilizes derivatives (futures contracts) as a core component of its investment strategy, aiming for 2.25x daily leverage. This inherent use of derivatives, coupled with the daily reset mechanism and the 'compounding effect' of daily leverage, introduces significant complexity. The 'rolling' of futures contracts further adds an element of opacity and unpredictability, making it difficult for retail investors with basic knowledge to fully understand the potential risks and returns.  The high risk rating of 7/7 in the KID also contributes to the complexity assessment, although high risk alone doesn't automatically imply complexity. The combination of leverage, derivative usage, and the complexities of futures contract mechanics make this product unsuitable for retail investors without specialized knowledge, meeting the criteria for a complex product under MiFID II."
    }
}