{
    "name": "Global X NASDAQ 100 Covered Call UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": [
        "Swaps",
        "Derivatives",
        "Covered Call Strategy"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses a swap agreement to replicate the performance of the CBOE NASDAQ-100 BuyWrite V2 UCITS Index, which introduces counterparty risk and complexity. Additionally, the covered call strategy involves selling call options, which is a derivative-based approach that may not be easily understood by retail investors. The KIID explicitly mentions risks associated with derivatives, counterparty exposure, and the potential for tracking error, all of which contribute to the complexity. The risk level is categorized as 6, indicating higher volatility and complexity. While the ETF does not use leverage or inverse strategies, the combination of swaps and derivatives for replication and income generation makes it complex under MiFID II.",
    "confidence": 0.9
}