{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF may use derivatives for the purposes of managing risk, reducing costs, generating additional capital or income. The use of such instruments may impact the magnitude and frequency of the fluctuations in the value of the Fund. Derivatives on an index may contain some underlying constituents which may not meet the ESG criteria.",
        "classification": "complex",
        "supporting_data": "The document states that the Fund 'may use derivative instruments for the purposes of managing risk, reducing costs, generating additional capital or income. The use of such instruments may impact the magnitude and frequency of the fluctuations in the value of the Fund. Derivatives on an index may contain some underlying constituents which may not meet the ESG criteria.'. The use of derivative instruments to achieve the investment objective or to enhance returns inherently introduces complexity. Although physical replication is used, the fact that derivatives are used as an integral part of the investment strategy to manage risk, generate income and/or for investment purposes (as stated in the KII document), leads to the classification of complex. Although some regulators like ESMA often classify derivative usage as complex, the document should also have stated the nature of the derivatives, in the absence of such information this classification is still required."
    }
}