{
    "type": "ETP",
    "ucits": false,
    "replication_method": "physical",
    "leverage": true,
    "inverse": true,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [
        "3x inverse leverage",
        "Short exposure",
        "Daily rebalancing with compounding effects",
        "High risk profile (Class 6/7)",
        "Intended for sophisticated investors only"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex due to its 3x inverse leverage structure, which magnifies returns and risks. The daily rebalancing mechanism introduces compounding effects that make long-term returns unpredictable, and the high-risk profile (Class 6/7) indicates significant market volatility exposure. The KIID explicitly states it is intended for sophisticated investors who can monitor positions daily, further supporting the complex classification. While the replication method is physical (owning the underlying asset), the inverse leverage and compounding effects create a complex risk profile that requires specialist understanding. The PRIIPs KID and factsheet confirm the high-risk nature and suitability only for experienced traders.",
    "confidence": 95
}