{
    "fund_name": "WisdomTree EURO STOXX 50 3x Daily Short",
    "type": "ETP",
    "ucits": false,
    "replication_method": "synthetic",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": true,
    "complex_factors": [
        "Leverage (3x inverse)",
        "Synthetic replication via swaps",
        "Daily compounding effect",
        "Complex index tracking"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex under MiFID II due to multiple factors: 1) It uses synthetic replication via swaps (explicitly mentioned in the fact sheet), 2) It provides 3x inverse leverage which creates compounding effects and magnified risk, 3) The daily reset mechanism creates a complex risk profile that diverges significantly from the underlying index over time, 4) The product is explicitly stated to be 'not simple and may be difficult to understand' in the KIID, 5) The risk rating is 7/7 (highest level), and 6) The product is not UCITS compliant (as stated in the fact sheet). The fact sheet confirms the use of swaps for replication and mentions counterparty risk, which further supports the complex classification. The product's documentation explicitly states it is intended for 'informed retail investors' with specific knowledge, reinforcing its complex nature.",
    "confidence": 95
}