{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "direct",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "None identified based on provided information"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF aims to replicate the BEL 20 Net Return Index using direct replication, primarily by investing in securities that make up the index. It may also use a sampling technique and guaranteed temporary sales of securities for optimization. The KID states the ETF's risk level reflects eurozone equities, and the initial capital is not guaranteed, which is standard market risk. There is no mention of derivatives being integral to the strategy, embedded derivatives, complex indices, leverage, or any features that would make its structure, risks, or payoff difficult for a retail investor with basic knowledge to understand. The document explicitly states the fund is a UCITS, which is generally presumed non-complex under MiFID II, unless specific features indicate otherwise. The information provided does not suggest any such features."
    }
}