{
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Swaps",
        "Futures",
        "Daily Compounding"
    ],
    "classification": "complex",
    "supporting_data": "The WisdomTree US Treasuries 10Y 3x Daily Leveraged ETP is classified as complex due to several key factors. It employs a 3x daily leverage, which inherently introduces significant risk and complexity. The product uses synthetic replication via swaps and futures contracts to achieve its leveraged exposure, as evidenced by references to 'swap agreements' and 'derivative instruments' in the KIID. The daily compounding effect further complicates the product, as it can lead to performance deviations from the underlying index over time. Additionally, the high risk rating of 7 out of 7 and the explicit warnings about the product's complexity and suitability only for informed investors reinforce its classification as complex. The presence of counterparty risk, collateral management, and the need for daily monitoring also contribute to its complexity.",
    "confidence": 95
}