{
    "type": "ETP",
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": true,
    "replication_method": "physical",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Inverse Exposure",
        "Compounding Effect",
        "Daily Rebalancing"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares -3x Short Alphabet (GOOG) ETP is classified as complex due to its -3x inverse leverage, daily rebalancing, and compounding effects, which introduce significant complexity and risk. The product explicitly states it is not simple and may be difficult to understand, targeting only sophisticated investors. The high risk indicator (7/7) and warnings about compounding effects further support this classification. While it uses physical replication, the leverage and inverse exposure create a non-linear risk profile that is not easily understandable by retail investors.",
    "confidence": 95
}