{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The WisdomTree Japan Equity UCITS ETF - GBP Hedged is a UCITS-compliant ETF that seeks to track a transparent, rule-based, fundamentally weighted index of dividend-paying Japanese companies. It uses physical replication by investing in a representative sample of the index's underlying securities. The ETF employs forward foreign exchange contracts solely for currency hedging purposes, which is considered efficient portfolio management (EPM) and does not make the product complex under MiFID II. There is no indication of embedded derivatives, synthetic replication, leverage beyond UCITS limits, or complex structured products such as CLOs. Securities lending and repurchase agreements are used only for EPM within UCITS limits. The ETF's structure, risks (market volatility, tracking error), and payoff are straightforward and understandable by retail investors with basic knowledge. The index tracked is transparent and publicly documented. 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 EPM with minimal risk are classified as non-complex. ESMA and CESR guidance confirm that synthetic ETFs or those investing in structured products or derivatives integral to the strategy are complex, but this ETF does not fall into those categories. Therefore, no appropriateness assessment or comprehension alert is required for retail investors purchasing this ETF on a non-advised basis."
}