{
    "fund_name": "WisdomTree Short USD Long GBP 3x Daily",
    "type": "ETP",
    "ucits": false,
    "replication_method": "synthetic",
    "leverage": true,
    "inverse": true,
    "derivatives": true,
    "swaps": true,
    "complex_factors": [
        "3x daily leverage",
        "Inverse exposure",
        "Unfunded swap structure",
        "Counterparty risk",
        "Complex index tracking (MSFXSM Triple Short US Dollar/GBP Total Return Index)",
        "Daily compounding effect",
        "Short-term trading focus (1-day recommended holding period)"
    ],
    "classification": "complex",
    "supporting_data": "The product is a leveraged inverse ETP that uses synthetic replication via unfunded swaps to provide 3x daily exposure to USD/GBP currency movements. Key complexity indicators include: 1) 3x leverage with daily compounding, 2) inverse exposure, 3) reliance on swap counterparties, 4) tracking a complex leveraged index, and 5) the product's high-risk profile (risk level 7/7). The PRIIPs KID explicitly states it's not suitable for retail investors without specific knowledge. The product's structure and risks are sophisticated enough to require specialist understanding, making it clearly complex under MiFID II.",
    "confidence": 95
}