{
    "fund_name": "WisdomTree New Economy Real Estate UCITS ETF - USD Acc",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex index methodology with technology scoring and multiple weighting factors",
        "Potential for concentrated sector/country exposure",
        "Use of repurchase/reverse repurchase agreements for efficient portfolio management"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the CenterSquare New Economy Real Estate UCITS Index, which focuses on global real estate companies with technology exposure. While the index methodology is sophisticated (using technology scores, growth/value metrics, and capping rules), this does not inherently make the ETF complex under MiFID II. The fund does not use derivatives for leverage or inverse exposure, and its derivative usage (if any) appears limited to efficient portfolio management (repurchase agreements). The risk profile is rated as 'lower risk' in the KIID, and the fund is UCITS-compliant, indicating regulatory suitability for retail investors. The main complexity considerations relate to the index's sophisticated weighting methodology and potential concentration risks, but these do not trigger a 'complex' classification under MiFID II standards.",
    "confidence": 90
}