{
    "fund_name": "WisdomTree US Quality Growth UCITS ETF - USD Acc",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the WisdomTree US Quality Growth UCITS Index, which consists of 100 US companies selected based on quality and growth characteristics. The KIID and factsheet confirm that the fund employs a passive management approach with full replication of the index constituents. There is no mention of leverage, inverse strategies, or synthetic replication. The use of derivatives is limited to efficient portfolio management (e.g., repurchase agreements and stock lending), which does not introduce complexity under MiFID II. The risk profile (SRRI 7) is due to the nature of equity investments rather than structural complexity. The fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95,
    "counter_argument": "While the SRRI is high (7), this reflects the inherent volatility of equity markets rather than structural complexity. The fund's use of derivatives is explicitly for efficient portfolio management, not for leverage or synthetic exposure, aligning with MiFID II's non-complex criteria.",
    "risk_level": 7,
    "esg_considerations": "The fund incorporates ESG criteria in its index methodology, excluding companies that do not meet WisdomTree's ESG standards. This does not contribute to complexity under MiFID II."
}