{
    "ok": true,
    "_meta": {
        "isin": "IE00077IIPQ8",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-18T10:22:38+00:00",
        "captured_unix": 1781778158
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    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etf_coco_or_at1_exposure_hard_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "WisdomTree Global Efficient Core UCITS ETF - USD Acc",
    "isin": "IE00077IIPQ8",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Multi-Asset (Equities and Government Bond Futures)",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": true,
        "counterparty_risk": true,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": true,
        "clo_exposure": false,
        "complex_index": true,
        "priips_comprehension_alert": false,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "CoCo or AT1 bond exposure"
    ],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "CoCo or AT1 exposure",
            "Loss absorption, conversion or write-down mechanics may be difficult to understand",
            "Complex or rules-based index methodology",
            "Index performance may depend on dynamic allocation or strategy rules",
            "Derivatives appear core to the investment strategy",
            "Less liquid or harder-to-value underlying exposure language",
            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings",
            "Fixed income credit and duration risk"
        ],
        "plain_english_explanation": "The product appears to use synthetic or swap-based exposure. This may be difficult for ordinary retail clients to understand because returns can depend not only on the referenced market exposure but also on derivative mechanics, collateral arrangements and counterparty risk.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Index provides synthetic exposure to a basket of global government bond futures contracts"
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "The Index provides synthetic exposure to a basket of global government bond futures contracts with maturities ranging from 2 to 30 years in order to achieve a 60% notional exposure to bond futures"
        },
        {
            "source": "KIID",
            "signal": "complex_index",
            "quote": "The Index is designed to track the performance of a portfolio of large-capitalisation global developed equity securities and global government bond futures contracts"
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "The Fund may enter into repurchase/reverse repurchase agreements and stock lending arrangements solely for the purposes of efficient portfolio management"
        },
        {
            "source": "FACTSHEET",
            "signal": "derivatives_core_strategy",
            "quote": "The Index provides synthetic exposure to a basket of global government bond futures contracts with maturities ranging from 2 to 30 years in order to achieve a 60% notional exposure to Bonds"
        },
        {
            "source": "FACTSHEET",
            "signal": "complex_index",
            "quote": "The index is designed to track the performance of a 90% exposure to large-cap global equities, and 60% to global government bond futures contracts, effectively delivering a leveraged position to the traditional 60/40 portfolio"
        },
        {
            "source": "FACTSHEET",
            "signal": "counterparty_risk",
            "quote": "Counterparty risk: The Fund is subject to the risk that third parties with which the Fund may transact and who may provide services such as the safekeeping of assets may go bankrupt or fail to pay money due to the Fund or return property belonging to the Fund"
        }
    ],
    "supporting_data": "Hard complex product feature identified: CoCo or AT1 bond exposure. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified",
        "counterparty_risk_language_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE00077IIPQ8_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 10386,
            "error": null
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        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE00077IIPQ8.txt",
            "found": true,
            "http_code": 200,
            "bytes": 16321,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE00077IIPQ8_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 17292,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE00077IIPQ8&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 542,
            "error": null
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    }
}