{
    "fund_name": "WisdomTree Long CHF Short EUR",
    "type": "ETP",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": false,
    "inverse": false,
    "derivatives": true,
    "swaps": true,
    "complex_factors": [
        "Synthetic replication using FX forwards",
        "Currency risk exposure",
        "Collateralised debt structure"
    ],
    "classification": "complex",
    "supporting_data": "The ETP uses synthetic replication through FX forward contracts to achieve its currency exposure, which involves derivative instruments and counterparty risk. While it is UCITS-eligible and has a medium-low risk profile (3/7), the use of derivatives for replication and the collateralised debt structure make it complex under MiFID II. The PRIIPs KID includes a 'comprehension warning' indicating the product may be difficult to understand, further supporting the complex classification. The fact that it is a debt security rather than a traditional equity ETF also adds to its complexity.",
    "confidence": 90
}