{
    "fund_name": "Leverage Shares -5x Short 7-10 Year Treasury Bond ETP",
    "type": "ETP",
    "ucits": false,
    "replication_method": "physical",
    "leverage": true,
    "inverse": true,
    "derivatives": true,
    "swaps": false,
    "complex_factors": [
        "Leverage",
        "Inverse Exposure",
        "Short-Term Trading Focus"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex due to its leveraged (-5x) and inverse exposure to the iShares 7-10 Year Treasury Bond ETF. The KIID explicitly states that the product is not simple and may be difficult to understand, which aligns with MiFID II's complexity criteria. The product's daily rebalancing and compounding effects introduce additional complexity, making it unsuitable for retail investors who cannot monitor their positions intraday. The risk indicator is rated at level 6 out of 7, further indicating high complexity. The product's structure involves physical replication of short positions, but the leveraged and inverse nature of the exposure makes it inherently complex. The recommended holding period of 1 day and the potential for significant losses due to leverage and compounding effects are key factors in this classification.",
    "confidence": 95
}