{
    "type": "ETC",
    "ucits": false,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": [
        "Swaps",
        "Complex Indices",
        "Counterparty Risk",
        "Termination Risk"
    ],
    "classification": "complex",
    "supporting_data": "The product is an open-end tracker certificate linked to the UBS CMCI Gold USD Total Return Index, which is a complex commodity index. The use of swaps and derivative instruments for replication, along with significant counterparty risk and potential termination events, indicates complexity. The product also lacks capital protection and has a medium risk rating (4 out of 7), with warnings about potential total loss and unfavorable termination conditions. The PRIIPs KID may include a comprehension warning, further supporting the complexity classification.",
    "confidence": 90
}