{
    "ucits": false,
    "type": "ETP",
    "leverage": true,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "synthetic",
    "complex_factors": "Leverage, Derivatives, Complex Indices, Daily Reset Compounding, High Risk Profile",
    "classification": "complex",
    "supporting_data": "The WisdomTree CAC 40 3x Daily Leveraged ETP is designed to provide 3x the daily performance of the CAC 40 Index, using leverage through futures contracts. This daily reset mechanism introduces a compounding effect, which can cause significant deviation from the index performance over time, especially in volatile markets. The product is intended for informed retail investors who can bear loss of capital and have experience with similar leveraged products. The risk indicator is 7 out of 7, reflecting a very high risk of loss. The ETP does not physically replicate the index but instead uses synthetic replication via futures, introducing additional risks such as roll costs, contango/backwardation effects, and potential tracking error. The structure, daily reset, and use of leverage make the payoff and risks difficult for the average retail investor to understand, exceeding the complexity threshold for non-complex instruments under MiFID II Article 57. The productu2019s KID includes a comprehension alert, further indicating its complex nature. The combination of leverage, synthetic replication, daily reset compounding, and a high-risk, non-standard payoff profile means this ETP does not meet the criteria for non-complex classification and is therefore complex under MiFID II."
}