{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The ETF is UCITS compliant and uses physical replication to track the Solactive Brand Finance Global Brands Index Net Total Return. The fund primarily invests in the companies contained in the Index in similar proportions to their weightings in the Index. It may also invest in companies that are not constituents of the Index that have similar risk and performance characteristics to the companies contained in the Index and financial derivative instruments (u00e2u20acu0153FDIsu00e2u20acu009d) (i.e. investments the prices of which are based on the companies contained in the Index and/or such other companies). The Key Information Document provides no indication of embedded derivatives or swap usage, which would classify the asset as complex under MiFID II. The ETF does not intend to pay dividends. The risk and reward profile is rated 6.",
        "complex": false,
        "explanation": "This UCITS ETF uses physical replication and tracks a transparent index.  Derivatives, if used, are for portfolio management and not integral to the investment strategy. The ETF's risks are readily understandable, thus classifying it as non-complex."
    }
}