{
    "type": "ETP",
    "ucits": false,
    "replication_method": "physical",
    "leverage": true,
    "inverse": true,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [
        "Inverse exposure",
        "Leverage",
        "Short-term trading focus"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex primarily due to its inverse (-1x) leverage structure, which magnifies returns and risks. While the replication method is physical (owning underlying assets), the inverse leverage creates a non-linear risk profile that is difficult for retail investors to understand. The product is designed for short-term trading (1-day holding period) and carries significant compounding risk, making it unsuitable for long-term investors. The risk indicator (6/7) and warnings about daily monitoring requirements further support the complex classification. The fact that it is not UCITS-compliant and targets sophisticated investors also aligns with MiFID II's complexity criteria.",
    "confidence": 90
}