{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [
            "Sector Specific Risk"
        ],
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant, employs physical replication, and aims to track the S&P Global Timber & Forestry Index. It may use derivatives for efficient portfolio management (EPM), but their use is expected to be limited. Although derivatives could introduce counterparty risk, the document does not highlight significant reliance on derivatives. The asset invests in a specific sector, timber and forestry companies, which introduces sector-specific risk, this aspect alone does not classify the ETF as 'complex' under MiFID II, but investors should be aware. The ETF uses an index methodology that incorporates ESG exclusionary criteria, which might limit the investment universe but does not introduce complexity in and of itself."
    }
}