{
    "fund_name": "WisdomTree DAX 3x Daily Leveraged",
    "type": "ETP",
    "ucits": false,
    "replication_method": "synthetic",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "3x daily leverage",
        "Synthetic replication using swaps",
        "Counterparty risk from swap agreements",
        "High risk profile (7/7 risk rating)",
        "Daily compounding effect",
        "Non-UCITS compliant",
        "Intended for sophisticated/informed investors only"
    ],
    "classification": "complex",
    "supporting_data": "The ETP is classified as complex due to its 3x daily leverage structure, synthetic replication using swap agreements, and high-risk profile. The product is designed to provide leveraged exposure to the DAX index, with returns compounded daily, which can lead to significant deviations from the underlying index's performance over time. The use of swaps introduces counterparty risk, and the product is explicitly stated to be suitable only for informed investors who understand the risks of leveraged products. The risk rating of 7/7 and the warning that investors may lose their entire investment further support the complex classification. While the product is UCITS-eligible, it is not UCITS-compliant, and the fact sheet explicitly states it is not intended for retail investors, reinforcing its complex nature.",
    "confidence": 95
}