{
    "success": true,
    "data": {
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "None",
        "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 presumption of non-complexity. The fund uses physical replication, achieving its investment objective by directly selecting and holding equity securities. The Key Investor Information Document (KIID) does not mention the use of derivatives, swaps, leverage, or any embedded instruments. The risks are therefore primarily market risk and strategy risk associated with the active ESG selection, not the structural complexities like counterparty or collateral risk that are central to a 'complex' classification. Although the fund employs an 'active strategy' based on a proprietary ESG framework rather than passively tracking an index, this pertains to the investment strategy, not the structure of the instrument itself. The mechanism of holding physical stocks is transparent and easily understood by a retail investor. Therefore, the features do not overturn the baseline presumption, and the ETF is considered non-complex."
    }
}