{
    "ucits": false,
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": true,
    "replication_method": "synthetic",
    "complex_factors": "Leverage, Derivatives, Synthetic Replication, Daily Reset, Futures Exposure, Compounding Effect, High Risk Profile, No Capital Protection, No Investor Compensation Scheme",
    "classification": "complex",
    "supporting_data": "The WisdomTree Bund 10Y 3x Daily Short is a leveraged, inverse ETP that provides -3x the daily performance of the Bund Rolling Future Index using futures contracts. It is not a UCITS, but is UCITS-eligible and fully collateralised. The product uses significant leverage (3x daily) and synthetic replication via futures, introducing risks such as daily reset, compounding effects, and futures roll costs, which are difficult for retail investors to understand. The product is intended for informed investors who can bear loss of capital and have experience with similar products. The risk indicator is 7/7 (highest risk), and there is no capital protection or investor compensation scheme. The structure, leverage, and use of derivatives (futures) make the product complex under MiFID II, as it fails the criteria for non-complex instruments under Article 57 of the Delegated Regulation (EU) 2017/565, particularly due to the use of derivatives integral to the investment objective, the potential for losses exceeding the cost of acquisition, and the complexity of the daily reset mechanism and compounding effect, which are not easily understood by retail investors with basic knowledge. The productu2019s KID includes a comprehension alert, further indicating its complexity."
}