{
    "fund_name": "WisdomTree Enhanced Commodity UCITS ETF - CHF Hedged Acc",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": [
        "Swaps",
        "Commodity Futures",
        "Currency Hedging",
        "Roll Yield Optimization"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses swaps to gain exposure to commodity indices, which introduces counterparty risk and complexity. The index it tracks employs a sophisticated roll yield optimization strategy for commodity futures, which is not straightforward for retail investors to understand. Additionally, the currency hedging methodology involves forward exchange contracts, adding another layer of complexity. The KIID explicitly mentions risks associated with swaps, counterparty risk, and the complexity of commodity investments.",
    "confidence": 90,
    "risk_level": 6,
    "counterparty_risk": true,
    "currency_hedging": true,
    "roll_yield_optimization": true,
    "commodity_futures": true,
    "primary_reasoning": "The primary factors driving the classification as complex are the use of swaps for replication, the sophisticated roll yield optimization strategy in the underlying index, and the additional complexity introduced by currency hedging mechanisms. These elements require a deeper understanding of financial markets and instruments, making the ETF complex under MiFID II regulations."
}