{
    "type": "ETP",
    "ucits": true,
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [
        "Covered Call Strategy",
        "Options-Based Income Strategy"
    ],
    "classification": "complex",
    "supporting_data": "The IncomeShares Gold+ Yield ETP is classified as complex due to its use of an options-based income strategy involving the selling of 'out-of-the-money' call options on SPDR Gold Trust shares. This strategy introduces complexity through the use of derivatives (options) to generate income, which requires a specific understanding of options trading and its associated risks. Additionally, the product's risk indicator is classified as 4 out of 7, indicating a medium risk level, and the KIID explicitly states that the product is not simple and may be difficult to understand. The ETP also involves counterparty risk related to the collateral assets and the potential for significant tracking error due to the options strategy.",
    "confidence": 90
}