{
    "fund_name": "Leverage Shares 3x Airbnb ETP",
    "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)",
        "Short-term holding recommendation (1 day)"
    ],
    "classification": "complex",
    "supporting_data": "The product is classified as complex primarily due to its 3x leverage, which magnifies both gains and losses, making it unsuitable for retail investors without sophisticated knowledge. The daily rebalancing mechanism introduces compounding effects that can lead to unexpected returns over longer holding periods. The risk indicator of Class 7 (highest risk) and the recommendation to hold for only 1 day further support this classification. While the replication method is physical (owning the underlying Airbnb stock with margin), the leveraged nature and the potential for significant volatility make this product complex under MiFID II. The PRIIPs KID and factsheet confirm the high-risk nature and the need for daily monitoring, reinforcing the complexity determination.",
    "confidence": 95
}