{
    "success": true,
    "data": {
        "complex": true,
        "leverage": true,
        "derivates": true,
        "swaps": true,
        "inverse": true,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETP",
        "complex_factors": [
            "Leveraged short exposure",
            "3x daily short exposure",
            "Daily reset of leverage factor",
            "Complexity of the underlying index (STOXX Europe Aerospace & Defence Gross Total Return Index) - daily reset and rolling futures not easy to understand for retail investors"
        ],
        "classification": "complex",
        "supporting_data": "The WisdomTree STOXX Europe Aerospace & Defence 3x Daily Short ETF is explicitly categorized as a product that is not simple and may be difficult to understand by the issuer in its Key Investor Information Document (KID).  The product's structure involves leveraged exposure to a specific index through daily resets, creating a compounding effect that can significantly deviate from the theoretical -3x return of the index over longer periods.  This daily reset feature and use of futures contracts with roll costs, contingent performance based on index movements, and high risk profile (7/7) are key indicators of complexity under MiFID II.  The productu2019s reliance on daily resets of the leverage factor, and the reference to roll costs and contango or backwardation effects, indicate a complex structure that is difficult for retail investors to understand."
    }
}