{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The Amundi IBEX 35 UCITS ETF Dist is a passively managed index-tracking UCITS. It aims to replicate the IBEX 35 Net Return Index, the main Spanish stock market index, through direct replication by investing primarily in the components of the Benchmark Index. The KIID states that the fund is eligible for the French Equity Savings Plan (PEA) and invests a minimum of 75% of its assets in equities of European Union companies. The risk category reflects that of equities of euro zone countries, and the initial capital invested is not guaranteed. The document explicitly mentions 'Counterparty risk' as a particular risk, but qualifies it by stating it 'may not exceed 10% of the total assets of the Fund for a given counterparty.' Crucially, it uses physical replication and does not mention the use of derivatives for its core investment strategy, nor does it mention any complex underlying assets or structures that would make it difficult for a retail investor to understand. The CESR guidelines classify UCITS as automatically non-complex, and this ETF fits within the description of a UCITS ETF tracking a well-known equity index through physical replication. The absence of any mention of derivatives integral to the strategy, embedded derivatives, leverage, or complex underlying assets supports a non-complex classification."
    }
}