{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "Synthetic replication via total return swaps. Reliance on derivatives for index tracking introduces counterparty risk and collateral risk which are difficult for retail investors to understand.The fund uses derivatives.",
        "classification": "complex",
        "supporting_data": "The ETF uses indirect replication through total return swaps (financial derivative instruments, or 'FDI'). This means it doesn't hold the underlying assets of the MSCI India Net Total Return Index directly, but instead uses derivatives to replicate the index's performance. This method introduces counterparty risk (the risk that the swap provider defaults) and collateral risk (the risk that the collateral supporting the swaps is insufficient). These risks are not easily understood by retail investors. According to the CESR document, any derivative use makes the asset complex. The presence of 'swaps' and synthetic replication is key to the classification as complex.  The KID also states this is a passive managed index-tracking UCITS."
    }
}