{
    "fund_name": "WisdomTree Artificial Intelligence 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 WisdomTree Artificial Intelligence UCITS ETF is classified as non-complex based on the following key factors: 1) It uses physical replication to track the Nasdaq CTA Artificial Intelligence Index, investing directly in the underlying equities; 2) There is no evidence of leverage, inverse strategies, or significant derivative usage beyond standard efficient portfolio management; 3) The fund's risk profile (SRRI 7) is primarily driven by its equity exposure rather than structural complexity; 4) While the index methodology involves some complexity in its AI intensity scoring system, this does not translate to product complexity under MiFID II rules; 5) The fund is UCITS compliant with standard risk disclosures and no capital protection features or embedded derivatives.",
    "confidence": 95,
    "counter_argument_consideration": "While the thematic nature of the AI index and its proprietary scoring methodology might suggest some complexity, this is not sufficient to classify the product as complex under MiFID II. The physical replication method and absence of leverage or derivative strategies outweigh this consideration. The fund's use of representative sampling is a common practice in index tracking and does not introduce complexity that would require specialist knowledge to understand.",
    "risk_level": 7,
    "esg_considerations": "The fund incorporates ESG criteria in its index construction, excluding companies based on environmental, social and governance factors, which is disclosed but does not affect the complexity classification."
}