{
    "fund_name": "Leverage Shares -1x Short JPMorgan ETF",
    "type": "ETP",
    "ucits": false,
    "replication_method": "physical",
    "leverage": true,
    "inverse": true,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [
        "Inverse exposure",
        "Leverage",
        "Short-term trading focus",
        "High risk profile"
    ],
    "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 suitable for retail investors and requires frequent monitoring. The product tracks an inverse leveraged index, which introduces compounding effects that make returns unpredictable over periods longer than one day. The risk indicator is at level 6 out of 7, indicating high risk. The product is designed for short-term trading (1-day holding period), which is a complexity factor under MiFID II. While the replication method is physical (owning the underlying asset), the inverse leverage and short-term trading focus make it complex. The PRIIPs KID and factsheet confirm the high-risk nature and suitability only for sophisticated investors.",
    "confidence": 95
}