{
    "fund_name": "Leverage Shares -3x Short Facebook (META) ETP",
    "type": "ETP",
    "ucits": false,
    "replication_method": "physical",
    "leverage": true,
    "inverse": true,
    "derivatives": true,
    "swaps": false,
    "complex_factors": [
        "Leverage",
        "Inverse Exposure",
        "Short Position",
        "Daily Rebalancing"
    ],
    "classification": "complex",
    "supporting_data": "The ETP is classified as complex under MiFID II due to several key factors: 1) It provides -3x inverse exposure to Meta Platforms, Inc. stock, which involves significant leverage and daily rebalancing, making it highly complex and suitable only for sophisticated investors. 2) The product is designed for very short-term trading (recommended holding period of 1 day) due to the compounding effect, which can lead to unexpected returns over longer periods. 3) The risk profile is classified as level 7 out of 7, indicating very high risk. 4) The product involves short positions and cash balances, which introduce additional complexity. 5) The prospectus explicitly states that the product is only suitable for sophisticated traders who understand leverage, daily rebalancing, and compounded daily returns. 6) The ETP is not UCITS-compliant, further indicating its complex nature. The fact sheet confirms the physical replication method but also highlights the high leverage and inverse nature of the product, reinforcing its complex classification.",
    "confidence": 95
}