{
    "ucits": true,
    "type": "ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The WisdomTree Japan Equity UCITS ETF - USD Hedged Acc is a UCITS-compliant ETF, which is automatically classified as non-complex under MiFID II Article 25(4)(a)(iv), unless it is a structured UCITS or fails the Article 57 criteria[1]. The fund uses physical replication to track a transparent, rule-based equity index and does not employ synthetic replication or swaps. Derivatives (forward foreign exchange contracts) are used solely for currency hedging to neutralize JPY/USD exposure, which is considered efficient portfolio management (EPM) and does not make the product complex under MiFID II, as the derivatives are not central to the investment objective and do not introduce significant counterparty or collateral risk[1]. There is no evidence of leverage beyond UCITS limits, embedded derivatives, or other complex features. The fundu2019s structure, risks, and objectives are transparent and easily understood by retail investors with basic knowledge. Securities lending is permitted but is a secondary feature, well-managed within UCITS rules, and does not dominate the risk profile. The index is transparent and the fundu2019s risks (market, currency, tracking error, counterparty, operational) are standard for equity ETFs and clearly disclosed. No comprehension alert is required as the product is non-complex."
}