{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "Derivatives for EPM"
        ],
        "classification": "non-complex",
        "supporting_data": "The asset is classified as non-complex based on the MiFID II framework. It is a UCITS ETF, which establishes a strong presumption of non-complexity (MiFID II Article 25(4)). The investment policy is to actively manage a portfolio of investment-grade corporate debt securities, which is a straightforward and understandable strategy. While the KIID states the fund 'may use derivatives for efficient portfolio management and currency hedging purposes,' this use is not integral to achieving the investment objective and is explicitly for risk management, not for synthetic replication or creating complex payoffs. According to the provided rules, such limited use does not automatically trigger a complex classification. The fund holds physical assets, does not use leverage or swaps, and the KIID explicitly lists 'none' under 'Additional risks,' reinforcing that its structure is not considered difficult to understand. The risk rating of 4/7 reflects market volatility, not structural complexity."
    }
}