{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The WisdomTree Emerging Markets SmallCap Dividend UCITS ETF is a UCITS-compliant ETF that seeks to track a transparent, rules-based, fundamentally weighted index of emerging market small-cap dividend-paying companies. It employs a passive management approach investing in a representative sample of the index's underlying equity securities, indicating physical replication. The Fund may use repurchase/reverse repurchase agreements and securities lending solely for efficient portfolio management, which is limited derivative use not integral to the investment objective, thus not triggering complexity. There is no indication of synthetic replication, embedded derivatives, leverage beyond UCITS limits, or complex structured products such as CLOs. The index tracked is transparent with publicly available methodology, and the ETF's structure and risks (market volatility, tracking error) are straightforward and understandable by retail investors with basic knowledge. 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 are classified as non-complex. ESMA and CESR guidance confirm that such ETFs do not require appropriateness assessments for non-advised sales. Therefore, this ETF is classified as non-complex under MiFID II."
}