{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "Complex Indices",
        "classification": "complex",
        "supporting_data": "Although this is a UCITS-compliant ETF using physical replication, which are strong indicators of a non-complex product, its classification is driven by the complexity of the underlying benchmark index. The 'MSCI ACWI IMI Innovation Select Screened 200 Index' uses a sophisticated methodology that is difficult for an average retail investor to understand. The index construction involves thematic selection based on a proprietary 'relevance score' and a complex weighting system calculated as 'a product of their market capitalisation and their relevance score'. This lack of transparency in how constituents are selected and weighted makes the ETF's structure and risk profile opaque, fulfilling the criteria for a complex instrument under MiFID II. The fund's ability to use derivatives for EPM and engage in securities lending are secondary factors; the primary determinant for the 'complex' classification is the nature of the index itself, as a retail investor cannot easily understand the specific drivers of the fund's performance and composition.",
        "final_assessment": "Complex"
    }
}