{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "Swaps",
        "classification": "complex",
        "supporting_data": "The Invesco S&P 500 Equal Weight Swap UCITS ETF uses unfunded swaps as a core element of its investment strategy to replicate the performance of the S&P 500 Equal Weight Index.  The KID explicitly states that the fund will use swaps to achieve its objective.  This reliance on derivatives, particularly swaps, introduces counterparty risk and other complexities which are not easily understood by retail investors with basic financial knowledge, making it a complex product under MiFID II.  The use of swaps, as a central element of the investment strategy, makes the ETF complex despite it being a UCITS and not employing leverage."
    }
}