{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "The index uses a proprietary natural language processing algorithm for security selection, which could be considered a complex methodology."
        ],
        "classification": "non-complex",
        "supporting_data": "The asset is classified as non-complex based on the provided MiFID II framework. It is a UCITS ETF, which establishes a baseline presumption of non-complexity. The replication method is physical ('The Investment Manager will aim to replicate the Index by holding all of the Index securities'), which is considered straightforward and transparent. Derivatives are permitted for 'efficient portfolio management purposes only', which does not make the product inherently complex as they are not integral to achieving the investment objective. There is no mention of leverage, swaps, or other structurally complex features. The only factor that introduces a degree of complexity is the underlying index, the 'Solactive Sustainable Health and Wellness Index-NR', which uses a 'proprietary natural language processing algorithm' for security selection. While this methodology is advanced, it does not alter the fundamental structure of the ETF itself, which remains a physically-backed, non-leveraged fund. The risks an investor must understand are primarily market risk, tracking error, and concentration risk, not complex structural risks like counterparty risk from swaps. Therefore, the presumption of non-complexity is not overturned."
    }
}