{
    "fund_name": "Leverage Shares -3x Short China ETP",
    "type": "ETP",
    "ucits": false,
    "replication_method": "physical",
    "leverage": true,
    "inverse": true,
    "derivatives": true,
    "swaps": false,
    "complex_factors": [
        "Leverage (3x inverse)",
        "Short exposure",
        "Daily rebalancing",
        "High risk profile (Class 7/7)",
        "Complex compounding effects"
    ],
    "classification": "complex",
    "supporting_data": "The ETP is classified as complex due to several key factors: 1) It provides 3x inverse exposure to the iShares MSCI China ETF, which introduces significant leverage and inverse risk; 2) The product uses physical replication but with a highly leveraged and inverse strategy that requires daily monitoring; 3) The risk profile is classified as Class 7/7, the highest risk level; 4) The product includes complex compounding effects that can lead to returns significantly different from the expected -3x daily performance over longer holding periods; 5) The KIID explicitly states the product is 'not simple and may be difficult to understand' and is intended for sophisticated investors who can monitor their investment frequently. The PRIIPs KID and factsheet confirm the high-risk nature and the need for daily monitoring, further supporting the complex classification.",
    "confidence": 95
}