{
    "fund_name": "WisdomTree New Economy Real Estate UCITS ETF - USD",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The WisdomTree New Economy Real Estate UCITS ETF is classified as non-complex under MiFID II regulations based on the following key observations: 1. The fund uses physical replication to track its benchmark index, directly holding the underlying securities rather than using derivatives or swaps. 2. There is no evidence of leverage, inverse strategies, or complex financial instruments in the investment approach. 3. The fund's risk profile (SRRI 6) is primarily driven by its equity exposure to real estate companies rather than complex financial structures. 4. While the index methodology involves some sophisticated scoring (Technology Score), this doesn't translate to complex financial instruments in the fund structure itself. 5. The fund's use of repurchase agreements and stock lending is explicitly stated to be for efficient portfolio management purposes only, not as a core investment strategy. 6. The fund is UCITS compliant, which imposes additional investor protection requirements. 7. The risk disclosures focus on standard equity and real estate sector risks rather than complex financial instrument risks. 8. The fund's cost structure is straightforward with a simple TER of 0.45% and no performance fees or complex charge structures. The fund's physical replication method and straightforward equity exposure to real estate companies with technology exposure, combined with its UCITS compliance and absence of leverage or complex derivatives, support its classification as a non-complex instrument under MiFID II.",
    "confidence": 95
}