{
    "fund_name": "WisdomTree Corn - EUR Daily Hedged",
    "type": "ETC",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Synthetic replication using derivatives",
        "Commodity futures exposure",
        "Currency hedging",
        "Complex index tracking (Bloomberg Corn Subindex Euro Hedged Daily Total Return)",
        "Potential roll costs and contango/backwardation effects"
    ],
    "classification": "complex",
    "supporting_data": "The ETC uses synthetic replication via derivatives to track a complex commodity futures index with currency hedging. While it doesn't use leverage or inverse strategies, the combination of synthetic replication, commodity futures exposure, and currency hedging mechanisms creates complexity beyond what typical retail investors would easily understand. The PRIIPs KID includes a 'comprehension warning' indicating this product may be difficult to understand, which aligns with MiFID II complexity criteria. The underlying index's exposure to futures contracts and potential roll costs/backwardation effects further contribute to the complexity. While the ETC is UCITS-eligible, the synthetic structure and commodity futures exposure trigger the complex classification under MiFID II.",
    "confidence": 90
}