{
    "success": true,
    "data": {
        "complex": "non-complex",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [],
        "supporting_data": "The ETF aims to reflect the performance of the Solactive ISS ESG Developed Markets Europe Net Zero Pathway Index. The index methodology involves ESG screening and weighting based on defined pillars to align with EU Paris-aligned Benchmark (EU PAB) standards and net zero frameworks. The fund aims to replicate the index by buying all or a substantial number of the securities in the index (physical replication). The KIID explicitly states that the fund may use derivatives for efficient portfolio management (EPM), to manage risk, reduce costs, and improve results. However, the primary investment strategy is physical replication. The risk profile is classified as category 6 out of 7, indicating a high likelihood of both losses and gains due to strong share price fluctuations. The KIID mentions 'DERIVATIVES RISK' but in the context of potential use for EPM, not as central to the investment strategy. The document does not indicate the use of complex derivative strategies like synthetic replication, leverage beyond temporary borrowing, or embedded derivatives that would inherently make the ETF complex. The index itself, while based on ESG and climate considerations, is presented as transparent in its methodology. The primary risks highlighted are market movements, sector concentration, and sustainability risks related to ESG data reliance, not structural complexity arising from derivatives or opaque instruments. Therefore, based on the available information, the ETF is considered non-complex.",
        "classification": "non-complex"
    }
}