{
    "fund_name": "WisdomTree EURO STOXX Banks 3x Daily Leveraged",
    "type": "ETP",
    "ucits": false,
    "replication_method": "synthetic",
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "3x leverage",
        "synthetic replication",
        "daily reset mechanism",
        "counterparty risk"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex under MiFID II due to several key factors: 1) It uses 3x daily leverage, which amplifies both gains and losses and introduces significant volatility risk. 2) The product employs synthetic replication through swap agreements, creating counterparty risk. 3) The daily reset mechanism means performance deviates significantly from the underlying index over longer periods, making it difficult for retail investors to understand. 4) The risk profile is rated 7/7, indicating very high risk. 5) The product is explicitly stated to be 'not simple and may be difficult to understand' in the KIID. 6) The recommended holding period is just 1 day, indicating it's designed for short-term trading rather than long-term investment. 7) The fact sheet confirms the use of swaps for replication, with collateral held to mitigate counterparty risk. While the product is fully collateralized, the combination of these factors makes it unsuitable for retail investors without specialized knowledge.",
    "confidence": 95
}