{
    "fund_name": "WisdomTree US Quality Dividend Growth UCITS ETF - GBP Hedged",
    "type": "ETF",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "complex_factors": [
        "Currency Hedging via Forward Exchange Contracts"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the WisdomTree U.S. Quality Dividend Growth UCITS Index, which consists of dividend-paying US companies screened for quality and growth characteristics. While the fund employs forward exchange contracts for currency hedging, this is a standard practice for GBP-hedged share classes and does not introduce significant complexity. The fund does not use leverage, inverse strategies, or synthetic replication. The risk profile (SRRI 5) is primarily due to equity market exposure rather than structural complexity. The KIID does not indicate the use of complex derivatives beyond FX hedging, and the fund is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II.",
    "confidence": 90,
    "counter_argument": "Some may argue that the use of forward exchange contracts for hedging introduces complexity. However, FX hedging is a common and well-understood practice in UCITS ETFs, and the fund's overall structure remains transparent and aligned with the underlying index. The absence of leverage, synthetic replication, or exotic derivatives supports the non-complex classification.",
    "risk_level": 5,
    "currency_hedging": true,
    "esg_screening": true,
    "dividend_strategy": true
}