{
    "fund_name": "Xtrackers LevDAX Daily Swap UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": true,
    "inverse": false,
    "derivatives": true,
    "swaps": true,
    "complex_factors": [
        "Leverage",
        "Swaps",
        "Complex Index (LevDAX)"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via swaps to achieve 2x daily leverage on the DAX index. The LevDAX index itself is a complex leveraged product designed to track 2x the performance of the DAX index on a daily basis. The KIID explicitly mentions 'leveraged exposure' and 'derivative risk' as key risks. The PRIIPs KID and factsheet confirm the use of derivatives and counterparty risk. The leveraged nature and synthetic replication structure make this a complex product under MiFID II, even though it is UCITS-compliant.",
    "confidence": 95
}