{
    "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 ETF tracks the DAX NET RETURN INDEX using a direct replication method, investing in the underlying securities of the index. This is considered a physical replication method. The KIID states that the fund is managed passively and its objective is to track an index of leading securities traded in German markets, which are the 40 largest market caps on the Frankfurt Stock Exchange. The index methodology is published and available. There is no mention of derivatives being integral to the strategy or any other complex features like leverage or embedded derivatives. The risks highlighted are market risk, which is standard for equity ETFs, and counterparty risk is mentioned as a particular risk for UCITS generally, but not as a primary driver of the ETF's structure. The KIID indicates a risk category of 3 out of 7, suggesting moderate risk primarily due to market volatility, not structural complexity. The underlying index (DAX) is a well-established and transparent equity index. The fund is a UCITS, which are generally presumed non-complex. The direct replication method, transparent index, and lack of complex derivative use align with a non-complex classification."
    }
}