{
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": true,
    "replication_method": "physical",
    "ucits": false,
    "type": "ETP",
    "complex_factors": [
        "Inverse exposure",
        "Leverage (-1x)",
        "Short-term trading focus",
        "High volatility risk"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex due to its inverse (-1x) leverage structure, which magnifies returns and risks. The KIID explicitly states it is 'not simple and may be difficult to understand,' and the PRIIPs document includes a comprehension warning. The product is designed for sophisticated investors who can monitor positions daily, with a recommended holding period of just 1 day. The risk indicator is class 6 out of 7, indicating high risk. While the replication method is physical (owning underlying assets), the inverse leverage and short-term trading focus introduce significant complexity. The product lacks UCITS compliance, further supporting its complex classification.",
    "confidence": 95
}