{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The WisdomTree New Economy Real Estate UCITS ETF is a UCITS-compliant ETF that tracks a transparent, well-defined index of global real estate companies with exposure to technology and science sectors. It uses physical replication by holding underlying securities, with no indication of synthetic replication or embedded derivatives. The Fund may engage in securities lending and repurchase agreements solely for efficient portfolio management, which is consistent with non-complex classification under MiFID II as such derivative use is limited and for risk management, not integral to the investment objective. There is no significant leverage beyond UCITS limits, no embedded derivatives or structured products, and the index methodology is transparent and publicly available. The risk profile reflects market volatility and tracking error, which are standard and do not imply complexity. According to MiFID II Article 25(4)(a)(iv) and Article 57 criteria, UCITS ETFs that physically replicate transparent indices and use derivatives only for efficient portfolio management with minimal risk impact are classified as non-complex. This ETF meets these criteria and thus does not require an appropriateness assessment or comprehension alert under MiFID II. This assessment aligns with ESMA and CESR guidance that structured or synthetic UCITS ETFs or those investing in complex derivatives or structured products (e.g., CLOs) would be complex, but this ETF does not exhibit such features."
}