{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": "Use of financial derivative instruments to gain exposure to underlying assets, lack of full hedging.",
        "classification": "complex",
        "supporting_data": "This ETF is UCITS compliant, but uses financial derivative instruments to gain exposure to underlying assets. This includes investing in investment grade debt securities, globally, using financial derivative instruments. While the share class seeks to minimise the effect of currency fluctuations, the hedging may not always be successful. This derivative usage, though the ETF aims to track the Bloomberg Global Aggregate Index Total Return USD Unhedged, points towards a synthetic replication strategy and introduces complexity due to counterparty risk and the intricacies of derivative contracts.",
        "reason": "This ETF is classified as complex due to its use of derivatives to achieve its investment objective, as derivatives are integral to its strategy. The use of financial derivative instruments introduces risks like counterparty risk, which are hard for retail investors to understand."
    }
}