{
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": false,
    "type": "ETP",
    "complex_factors": [
        "Leverage",
        "Short-term holding recommendation",
        "High risk profile"
    ],
    "classification": "complex",
    "supporting_data": "The ETP is classified as complex primarily due to its 2x leverage structure, which magnifies both gains and losses. While it uses physical replication (direct ownership of Tesla stock with margin borrowing), the leveraged nature and daily rebalancing create compounding effects that may not be easily understood by retail investors. The KIID explicitly states it is 'not simple and may be difficult to understand,' and the PRIIPs KID includes a comprehension warning. The recommended holding period of 1 day and the risk indicator of 7/7 further support this classification. The fact that it is not UCITS-compliant also aligns with a complex classification under MiFID II.",
    "confidence": 95
}