{
    "complex": true,
    "type": "ETP",
    "ucits": false,
    "replication_method": "physical",
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Leverage (3x)",
        "Daily rebalancing with compounding effect",
        "High risk profile (Class 7/7)",
        "Short-term holding recommendation (1 day)"
    ],
    "classification": "complex",
    "supporting_data": "The ETP is classified as complex due to its 3x leverage, daily rebalancing mechanism, and high-risk profile (Class 7/7). While it uses physical replication (owning the underlying iShares MSCI China ETF directly), the leverage and compounding effects introduce significant complexity. The product is intended for sophisticated investors who can monitor positions daily and understand the risks of leveraged products. The PRIIPs KID and factsheet confirm the high-risk nature and the need for daily monitoring, reinforcing the complex classification. The absence of derivatives or swaps in the replication strategy does not mitigate the complexity introduced by the leverage and compounding effects.",
    "confidence": 90
}