{
    "type": "ETP",
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Compounding Effect",
        "High Risk Profile"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares 2x NVIDIA ETP is classified as complex due to its 2x leverage, which introduces significant risk and requires sophisticated understanding of daily rebalancing and compounding effects. 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 the potential for magnified losses due to leverage further support this classification. While it uses physical replication, the leverage and compounding effects create a non-linear relationship to the underlying asset, making it unsuitable for retail investors without specialized knowledge.",
    "confidence": 95,
    "risk_level": 7,
    "comprehension_warning": true,
    "counter_argument": "The ETP uses physical replication and does not explicitly mention derivatives or swaps, which might suggest non-complexity. However, the leverage and compounding effects introduce significant complexity, overriding this argument.",
    "regulatory_notes": "The product is regulated by the Central Bank of Ireland and the Financial Conduct Authority, but its high-risk nature and leverage make it complex under MiFID II rules."
}